A Koby steak turned into a HamburgerThats the story of Golden Ridge. I have owned off and on shares of GLDN almost from the time of it's first listing on the Exchange. Made a nice profit when it struck a great hole on the Hank claim, the company then failed to follow up at great losses to those hanging onto the stock. I scored again when management took the company to Newfie land. Bought in at 12c and sold at 40c. There once more they sat on their behinds at more great losses to those not selling their stock. Now as COVID has ravaged this industry they are drilling and doing other work on two of their claims in NFDL.
Currently, that is today the stock trades at the all time low of a single digit 7.5cents.
It has 57M shares total outstanding
$5M cash
No debt.
Do the math... $5M/$57M that works out to 8.7cents
The Companies shares are trading below it's cash asset.
Why is that? It should be a screaming BUY
It might be that this management has through it's short ( 10 year ) history so far been a big disappointment to the shareholders. Always adept at getting great potential claims they never seem to follow through and run off to their next pet project. Tight lipped and non communicative with the shareholders I have to wonder why this outfit did'nt just stay a private numbered company. Could it be that going public was to get cash curtesy of the investing public and not much else.