How can Venezuala afford not to develop their major finds.
GLR isn't exactly in the middle of the forest, plus their application was originally made in 1993, a process was laid out before them, and they've been following the steps.
This is not like a BreX, the gold is there, and everything independently confirmed, and compared to something like BGO/AZS it is a higher grade and more easily accessible. The reason for the low share price is clear, and it wouldn't be a bargain if not for that reason. Yes, in general, there will be no new mining concessions, but specifically in GLRs case, while they have not said "Yes", neither have they said "No" to GLR.
If it will be a No, then fine, the stock can fall to cash value (but believe me GLR would probably sue for a minimum of the $60 million they've already spent), so from that standpoint the cash value of the shares would be over $4.00 alone. Right now there is nothing to be lost if one doesn't sell, and ultimately not much to lose form these levels anyway. And if GLR gets their Yes, the stock would minimally double from these levels.
O. |
