RE:Financials Bailey2,
Looks like annuals should be coming out around April 29 and first quarter somewhere around May 22. At least , those were the dates last year. Certainly seems like a long wait. glta
Seems to be a never ending supply of paper available at $0.23. Been adding more this week
and had no problems getting filled at that price. Picked up some yesterday and added another 50,000 shares early this afternoon.
I don't want to be considered overly negative about the prospects of this company, the metrics do bode quite well for Galane Gold with gold and silver prices moving higher, and the possibility of this company attaining the 100,000 ounce producer status within the next 18 - 24 months.
Even with gold at $1600 and silver at $23.00 this company will be spinning off positive cash flow. I doubt we see those low precious metals prices again, comsdering the never ending issuance of fiat currencies .
What I can't understand is the fact that every other precious metals mining company I am invested in, or following, have already issued Q4 and YE 2020 productiion numbers and financials ... and in most cases, Q1 2021 production numbers have been released, yet we
have crickets from Galane Gold.
Why ?
This $0.22 financing price was way below the average price in the 2 weeks leading up to the halt in trading prior to the announcement of the Summit Mine / Banner Mill purchase
Closing prices for two prior weeks:
March 1 - $0.26
March 2 - $0.28
March 3 - $0.26
March 4 - $0.28
March 5 - $0.27
March 9 - $0.26
March 10 - $0.26
March 11 - $0.255
March 12 - $0.245
March 13 - $0.28 Total ----- 2.65 / 10 = $0.265 average price for the previous 2 weeks leading up to the halt.
I can understand around a 10% discount to market for a financing price, say $0.24 per share, but why did management accept a 17% discount ? Why did they undervalue their shares so much ? Guess we will see how much participation came from insiders soon enough ....
The accepted low financing price seems a bit odd to me, but I suppose when the insiders and family control over 60% of the O/S shares there's not much the little guys can do except average down as close to the latest financing price as one can ..... ;-)
I will have to assume that once the company issues YE 2020 production and financials ... and closes their Summit Mine, Banner MIll acquisition, they'll start releasing more information on a more consistent basis ?
Increased production results will improve the share price in the coming months. A big boost will come from +$1800 gold and +$27 silver
GLTA !