Our newest market expert, Ryan Ko, opines on investing in junior exploration companies.`
This is personal opinion and not investment advice nor a solicitation to purchase or sell securities.
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Matthew, I found another good stock that has been creamed. Fundamentally it looks cheap, but the chart looks awful. What do you see in the chart of MCK? At what price would you be interested? Thanks.
Gran Colombia Gold Completes Acquisition Of Approximately 15% Interest In Sandspring Resources Ltd.
GlobeNewswire – Thu Jul 26, 6:30AM CDT
Gran Colombia Gold Corp. (TSX:GCM.TO) announced today that it has completed its previously announced acquisition of an investment in Sandspring Resources Ltd. (TSXV:SSP.VN) (OTCQX:SSPXF) (“Sandspring”) (the “Transaction”). Sandspring is a Canadian junior mining company currently moving toward a feasibility study for the multi-million-ounce Toroparu Project in the emerging western Guyana gold district. In connection with the Transaction, Lombardo Paredes Arenas, Chief Executive Officer of Gran Colombia, has been appointed to the board of Sandspring, effective immediately.
Through completion of the Transaction, Gran Colombia has received 15,000,000 common shares of Sandspring in consideration for its 30% carried participating interest in the Chicharron Project located within its Segovia mining title. Gran Colombia has acquired a further 16,000,000 Units of Sandspring at CA$0.25 per Unit in connection with Sandspring’s CA$10.25 million private placement of 41,000,000 Units completed today. Following completion of the Transaction and the private placement, Gran Colombia now has control and direction over an aggregate of 31,000,000 common shares and 16,000,000 share purchase warrants of Sandspring. Each share purchase warrant entitles Gran Colombia to purchase one additional share of Sandspring at CA$0.40 for a period of sixty (60) months. The securities acquired in connection with the private placement are subject to a four-month-and-one-day statutory hold period. The common shares controlled by Gran Colombia represent approximately 14.78% of the outstanding common shares of Sandspring. Assuming exercise of just the warrants controlled by Gran Colombia, when combined with its existing ownership, Gran Colombia would have control and direction over 47,000,000 common shares representing approximately 20.83% of the then outstanding common shares of Sandspring.
Whether or not Democrats win in 2018 or 2020 will depend on whether voter ID exists and the elimination of Soros voting machines.
You are correct that the honesty of management is crucial.
Investors should also realize the cyclical nature of resource metals and stocks.