“Undervalued Gold Stocks Will Go Berserk” — Gold Stock Adviser
by Travis Johnson, Stock Gumshoe | June 26, 2009 2:24 pm
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I enjoyed the article and want to ask, Have you ever heard of Nick Guarino’s Gold is about to crash? It is interesting and it makes sense. It came in the mail He wants you subscribe to Wall Street insiders. wsifnsupport@gmail.com is the email address . I haven’t tried the email yet, to busy reading yours. Thanks Darrell
Hi Gumshoe — I have several comments;
1. Always look forward to your despatches, irreverent humour, cut-to-the chase style etc…
2. In regard to the story on Eldorado Gold, with their “166.4 million tonnes @ 1.13g/t. resource, that equates to 6.05 million ounces of gold!”, trading at around $10 per share. I cannot help but compare this to an Australian Gold Miner Citigold [CTO – ASX] which claims that it is sitting on Australia’s richest Goldfield, with the following vital statistics;
A. Market Capitalisation per gold oz. in ground = A$20
B. JORC Gold Resources 23,000,000 tonnes @ 14 g/t – 10,000,000 ounces (Inferred Mineral Resource)
C. JORC Gold Reserves 800,000 tonnes @ 13 g/t – 330,000 ounces (Probable Ore Reserves)
D. JORC is the national reporting standard for resource reporting.
E. Cost of shares today – 1st July, 2009 is AU$ 0.16 [16 cents].
I reckon that this gold producer has better prospects simply because they don’t have to dig up all that rock! What do you think?
Their website is here;
http://www.citigold.com/
Cheers from downunder.
Check out these numbers:
http://www.citigold.com/sharecapital.asp
At 736,000,000 shares issued and outstanding this company has to earn $7,300,000 just to make .01 cent per share!!!!!!!!!!
When you consider that they dilute their shares at the rate that rabbits reproduce (they just concluded yet another share offering) the only ones making money are the employees and the insiders lucky enough to be awarded very large blocks of their already diluted stock.
For a company that sits on “the largest high grade gold resource in Australia” there has to be a reason that it trades at .17 cents AU$. The only good thing I see is from a charting perspective (and some would argue with me). The stock is trading within .02 cents of its annual low (but why is that when gold is over $900?). So IF support holds here you may be getting in at an intermediate bottom. If support at .15 cents doesn’t hold the next stop is .10 cents.