Columbus Gold Corp CGTFF

Lundin refreshes Columbus Gold buy

[Zeffirin]

2016-05-02 20:48 Brien Lundin, in the April, 2016, edition of the Gold Newsletter, refreshes his buy of Columbus Gold Corp., recently 39 cents. Mr. Lundin said buy six times from December, 2012, to February, 2016, at prices ranging from 26 cents to 43 cents. A $1,000 investment for each of the six buys is now worth $6,859. Mr. Lundin has long liked Columbus's Montagne d'Or project in French Guiana and its Eastside project in Nevada. He was surprised when Columbus declared its desire to "unlock value" for the shareholders of Eastmain Resources, of which it owns 2.67 million shares. Mr. Lundin has not paid much attention to Eastmain, but according to Columbus, Eastmain has made insufficient progress in developing its projects and should revamp its board of directors. To that end, Columbus is nominating five new directors to Eastmain's board, including Robert Giustra (Columbus's chairman and chief executive officer). Mr. Lundin is confident that the nominees will strive to increase shareholder value. All in all, he sees the move as "yet another bit of upside to [Columbus's] story." (Note: Subsequent to this recommendation, Columbus reached an agreement with Eastmain and withdrew its nominations.) Columbus remains a buy near current levels.