Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: loantech who wrote (5505)	1/27/2006 7:12:32 PM
From: zoo york	Read Replies (4) of 78409

Hi Loantech! I have no axe to grind with GGC, and sold my position last year for a loss, but just about everything was selling off last year. Here is a comment I wrote about GGC in my report: "New development is focused towards completing a 4-meter by 4-meter decline at San Raphael to access the ore body discovered during the 2003 drilling program. It is estimated that by the fall 2004 mining in this zone will commence. Management is optimistic that throughput at the mill will increase to near capacity levels by the end of the 2004, while exploration activity is ongoing to identify additional ore bodies for future exploitation. The company is committed to proving up a 2-year reserve life. The combined effects of increased efficiency in operations, additional ore production to near-capacity levels, and the processing of ore with overall higher grades, should result in substantially higher profitability for Genco during future quarters, and production costs that are more in line with the industry average. " - ENDQUOTE smartinvestment.ca It sounds alot like what you just posted, but I wrote that in 2004. The story is still the same, including drilling off the resources, and looking to secure an acquisition. The only thing that has changed IMO is that new money is flowing into the sector at this time. I think GGC is a good company, but I wonder if it may be getting ahead of itself at this time. They are still a tiny operation but they have achieved a very lofty market cap. I know you have held it for a long time, so I hope you are protecting profits along the way. cheers! COACH247

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