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Article by Frank Tabbert, Pinnacle Digest, December 29, 2012
With tax loss selling now over and a year that junior exploration companies took it on the chin, many are down for the count and in need of cash to survive with no window of opportunity in sight. These companies should be avoided like the plaque as almost all of those with just marginal deposits are unlikely to survive in the next 12 months. I like to look for companies with strong management, a low amount of shares outstanding, lots of cash in the bank, no debts and a decent existing resource or at the very least a promising target located in a politically safe jurisdiction. To possess most or all of these attributes is extremely rare.One such company is GTA Resources and Mining Inc GTA.V. With 5.5 million in the bank and 25 million shares outstanding that works out to 22 cents per share in value alone with the stock trading at 17 cents. Last February the big news was a drill intercept of 149 meters averaging 3.21 grams per ton gold and the stock jumped 529% touching 2 bucks. Wisely a timely private placement topped up the treasury. Speculation of a major find fell off along with the entire market when drilling results, although encouraging, did not match these initial results. Actually the latest drill program results are still pending. This could avail the opportunity for another 5-1o bagger. For disclosure purposes, I do not hold shares at this time only because I just discovered this little gem.
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