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Golconda Gold Ltd V.GG

Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Bullboard Posts
Post by janddon May 16, 2020 3:25pm
185 Views
Post# 31038297

Shorting gold stocks in a rising gold environment

Shorting gold stocks in a rising gold environmentas a recipe for disaster, even with a stumbling company like GG. I recall in 2016 there was another short and smear campain and the company caught the short sellers with their pants down when they implemented a rights offering at a huge discount to market... Once done the short sellers were cleaning thier shorts as they scrambled and covered at much higher costs... I love the tactics GG used back then... This time no such tactics are necessary since the rising price of gold will force the short-sighted short sellers to covery thus allowng the price to rise even more... IMHO - most short selling of late is being done by those with 5 cent warratns that expire this coming summer. Once the warratns expire there will be clear selling.

Who knows - with all the M&A in the sector, and the fact these shares are widely held GG is also quite vulnerable...

Good Luck to all Longs!
Bullboard Posts