Rick Rule
Granada Gold Mine Inc
GGM-X
DON'T BUY
Aug 06, 2013
Not tempted by this company at all. They are reasonable people, but from his point of view, you want to be in the best 5% or 10% of the best juniors in the market. He doesn’t see this company operating in that space. Sees capital restraint and doesn’t see them being able to move their exploration properties.
Located in Quebec and put out a recent drill hole didn't see that they have a large disseminated deposit. However, they are very serious about mining and you are interested in small-scale mining in Quebec, it is all right. Would try to switch into something else at some point.
Looking at their system to see if it is broadly disseminated or concentrated in narrow zones. Also has another issue in that it is very nuggety. Mineralization is so erratically disseminated that the drill holes don’t catch the gold the way they should. Now going in and taking bigger samples to get a feel for what it is like. Hard to evaluate as an investor.
Good management. Have a large land mass about 60km from Osisko (OSK-T). Have been doing a great job in drilling and the core looks exactly like Osisko’s. Drill program will continue top step out to identify the resource. Looks very attractive but will be 2-3 years to play out so you need patience.
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Not tempted by this company at all. They are reasonable people, but from his point of view, you want to be in the best 5% or 10% of the best juniors in the market. He doesn’t see this company operating in that space. Sees capital restraint and doesn’t see them being able to move their exploration properties.