Gold X Mining Corp. GLDXF

Metals & Mining Industrial Metals & Minerals

Gold X Mining Corp. is a Canadian junior mining company developing the Toroparu Gold Project in Guyana, South America. Gold X has spent more than US$150 million on the Project to date to classify 7.35 million ounces of Measured and Indicated and 3.15 M-oz of Inferred Gold Resources, develop engineering studies for use in a feasibility study, and define a number of exploration targets around Toroparu on its 53,844 hectare (538 km2) 100% owned Upper Puruni Concession.

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Comment by Heywood_Silverson Jun 30, 2020 6:57pm

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RE:RE:RE:RE:RE:Good Article

You are correct, IF Gran Colombia were to execute their warrants and debenture conversions and assuming nobody else did, they would own about 31% of the outstanding shares. However, under a fully diluted shares scenario, Gran Colombia's ownership would fall to only about 18%. Considering that all the warrants are now "in-the-money" it is safer to assume a fully diluted scenario.

That brings us right back to where we were: GCG needs to pick up an extra 10% of the shares via the open market. The wild card in any buyout scenario will be Wheaton. Whom do they prefer would ultimately mine the Toroparu project? Considering that they are Canadian and that Gran Colombia is also a Canadian company I would assume that Wheaton would prefer GCG instead of the Chinese.

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