Post by
orepass on Jun 13, 2018 7:12pm
Gran Colombia...Et al
In my opinion, this is good news although it may be perceived otherwise by some inexperienced observers. The whole thing related to Colombia is only to position Gran Colombia and insiders into Sandspring at a low cost...21M shares for silver property + private placement of 10M units for $4M by Gran Colombia...Gran Colombia was founded by Serafino Iacono (current chairman) and is someone who has done a lot of business in the resource sector with Mr. Frank Giustra & associates...Here you go! Grand Colombia after a rough start and restructuring is now producing at a run rate of over 200,000 Oz gold/ year and seems to have a solid future...With this deal, Gran Colombia will own about 15% of Sandspring and I would not be surprised if the two companies plus some other outfits are amalgamated to form a mid-size south american producer at a later stage (when gold market takes off)...The stock didn't sell off on the news, despite the additional dilution...Ha!Ha!...Well informed people understand what is going on...In my opinion Sandspring's (old) managemetn is losing its grip on this world-class asset...Mr. Iacono has a lot of reach in South America and access to $$$...Although somewhat punitive to the actual shareholders, this is, I think what will finally get things going for us...Don't be fooled...The action in the stock price is saying that this is good, not bad!
orepass