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Politics : Gold and Silver Stocks and Related Commentary
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To: loantech who wrote (5)12/10/2004 11:24:55 AM
From: ogi  Read Replies (1) of 18308
 
Tom your thread is flying!!! Geologix, my thoughts in capsule form:

-Management/ Directors have extensive experience with jr. and senior mining and exploration. They raised up to 300 mil with Man.t.( although having a town sitting over your deposit became a deposit killer). Strong bias to geology on the management team not lawyers and financiers.

-Cash in the bank of approx $7 mil+. This stock was @ $2.80 on the strength of its team and Peruvian portfolio. They raised $8.5 mil early in 04 at $2.15.

-Although the drill program on their lead Peruvian property was not the success expected from surface showings they did gain knowledge and a juicy hole to reinterpret and drill again. Meanwhile the stock gets repriced to $.70 with .40 in cash. Drills started in October. Also started drilling a Nevada property in October and should start drilling another Nevada prospect any day I think. Three drill campaigns at once.

-extensive Peruvian properties with extensive Peruvian experience and located in non farming areas with no drilling needed under habitations. They are very excited by some of their other Central Peru prospects, 100% owned by GIX.

-two prospective properties in Nevada, one Getchell trend and one Battle Mtn/ Eureka Trend. One a jv with Placer/Teck the other a lease with buyout rights. Right neighbourhoods both.

-Excellent website, check it for your own DD. spoke with the co and came away positive.

geologix.ca

Cheers,
Ogi
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