Growing Interest in GuyanaThere has been an ever increasing interest in Guyana, which should ultimately bode well for Goldsource Mines. ExxonMobil is now firmly established in Guyana, operating an office in Georgetown.
Silvercorp Metals recently entered a definitive agreement with Guyana Goldfields on April 27, 2020, to acquire all its outstanding shares (implied value of $0.60). GUY had been one of the worst performing gold stocks (for numerous reasons), but this announcement boosted the share price nicely (many however, including me, still believed that the value was too low).
Today, May 11, 2020, Gran Colombia Gold entered a definitive agreement with Gold X Mining, and have submitted a superior proposal to Guyana Goldfields to acquire all its outstanding shares for a significantly higher price than Silvercorp Metals' proposal (implied value of $0.90).
My understanding is that more gold majors have recently shown a great deal of interest in English speaking Guyana, as this country remains significantly under explored, and is a safe and efficient jurisdiction to do good mining business - I get the feeling that we are being watched closely...as we continue to successfully find more high grade gold at our Eagle Mountain Gold Property.
Looking forward to further drill results from Goldsource Mines. I'm pleased with the trading of GXS this past month, as we have had a SIGNIFICANT amount of buying in the $0.14 to $0.15 range. IMO, we are setting up nicely for $0.18 to $0.20.
GLTA