RE:GXS a five or tenbagger?
Taylor refreshes Goldsource buy
2015-01-20 17:38 ET - In the News
...Goldsource aims to start production in the first quarter of 2015 from the Eagle Mountain saprolite gold project in Guyana. The company completed a preliminary economic assessment last summer, estimating an after-tax net present value of $45.6-million (U.S.) and an after-tax internal rate of return of 63 per cent, assuming a gold price of $1,250 (U.S.). It pegged the total capital costs for the four proposed phases of the mine, as well as sustaining capital, at $24.2-million (U.S.). Mr. Taylor likes the numbers and the mining-friendly jurisdiction. He also approves of Goldsource's management, particularly chief executive officer Scott Drever and chief operating officer Eric Fier, who were "outstanding" at Silvercrest Mines in Mexico. If they can repeat their success at Goldsource -- and Mr. Taylor believes they will -- the stock "could easily become a 10-bagger from current share price levels."