GREY:GYPHQ - Post by User
Comment by
red911on Feb 29, 2012 7:47am
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Post# 19602843
RE: Unfairly punished?...
RE: Unfairly punished?... Previous post but still very relevant... except GGN marketr cap has actually fallen since I wrote it LOL...
Compare to SGN... SGN operates an almost identical heap leach operation in Nevada, Mineral Ridge. They shipped their first loaded carbon in late-Apr 2011 and they don't pour dore bars. They ended up producing only 8,100 oz Au in 9 months of production... or about 900 oz Au per month on average. They didn't sell their first gold until late-June... about 600 oz Au. Production obviously picked up as the year went on but I don't think they made any money. SGN only owns 80% of Mineral Ridge and they have no where near the reserves or potential of Borealis. GGN is likely now producing more than 1000 oz/month (i.e. breakeven) and this is expected to increase dramatically over the coming months. And GGN is expected to be pouring dore bars in 1 month. SGN didn't fire their CEO and mine manager LOL. SGN currently trades strongly at a market cap of about $110M. GGN market cap now beaten down to about $31M. Tell me how any of this makes sense. Either SGN is severely overvalued or GGN is severely undervalued. With POG at 1800 I think the latter, without question.
SGN seems to have 'the Street' behind it. GGN has not had this luxury, or so it seems, yet anyway. IMO that is all that is missing here... 'Street/big player' acceptance/recognition for what has been accomplished here. GGN just needs 'someone' to pick the ball up and run with it... Massive opportunity for 'someone' smart to make a lot of money here IMO.