Time is Near All colombian miners seem to be rising these days.....even EOM!!!! CBJ came out with some more good news today at Vetas regarding prospective land.
Remember, GWY are drilling around their best finds at California. I like our chances of more good drill results. Also, we should see back to back results with California and Vetas again, as they were one day after the other in December.
The more and more I think about it, the more and more a $400/ounce valuation on the gold reported in their California 43-101 makes sense. Ventenna got this valuation and Eike thought he took Ventenna to the cleaners (which he did).
Here are reasons why I am now coming to that same valuation:
--> Gold is higher (as mentioned)
--> Government is more accomodative
--> High grade gold deposit with low costs
--> Infrastructure already going to be in place with Eike
If I use the $400 valuation/ounce, and my projection of 1.5mm ounces at California via the 43-101, that values the company at $5.00/share when you take into consideration all their cash, and all the cash in the coffers.
I don't think $400 is out of the question based on Ventenna receiving that. If you think that is too optimistic, you get their Vetas property for free, and their other metal properties for free within that valuation.
I bought more today.