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Golden Goliath Resources Ltd V.GNG

Alternate Symbol(s):  GGTHF

Golden Goliath Resources Ltd. is a Canada-based junior exploration company. The Company is focused on exploring and developing the gold and silver potential of properties in the Red Lake District of Ontario. The Company’s Canada properties include Quebec, and Wish Ore. Queb includes Victory 21 Property, Citadell Property, Bedard Property, and Ernest Property. The Victory 21 Property includes about 18 map claims, 10 pending claims over 1200 hectares. The Citadell Property, Bedard Property and Ernest Property are located in Central Quebec, stable modern mining jurisdiction, which includes about 24, 22, and 34 map claims. The Wish Ore Property is located 60 kilometers north of Sault Ste Marie.


TSXV:GNG - Post by User

Post by ggrelletteon May 31, 2023 5:08pm
156 Views
Post# 35473641

Shareholders here have till tomorrow to sell................

Shareholders here have till tomorrow to sell................thier shares before they losse 14+% of their shares on the Reverse Stock Split. Not only a loss of shares which is the multiplier but depending where your Cost Average is it could even be much worse. Those who bought at 1.5 cents will break even or make a few bucks depending how high it will go once the consolidation is done which will be done on Monday before the opening. So lets say for arguement sake and easy math you own 70,000 shares bought at 5 cents for a total cost before commission would be $3500.00 and after consolidation(1 for 7) you now have 10,000 shares left at 10.5 cents which is $1050.00 subtract your initial investment without commission leaves you negative $2,450.00. Therefore the % loss is actually greater then 14+%. So lets say the stock decreases which it will because they have nothing of value that will drive it higher. They need cash so A PP will be issue at probably 5 cents maybe 7 cents. So your 10,000 shares at 5 cents is now worth only $500.00 less commission. Now down approximately $3000.00 what a loss for sure and more shares then 70,000 is real pain. Sadly no fun going through share consolidation no matter what the CEO gives as an excuse or what they elude to as beneficial for shareholders. No matter how you slice it, it is disasterous for shareholders.
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