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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Gart.Sml.Co | GSM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 262.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 262.00 | 262.00 |
| Top Posts |
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Posted at 04/10/2008 19:47 by a.fewbob Thanks smile. Being an investor in PM stocks right now feels like being a length of tarmac on the M25...... not good! |
Posted at 18/6/2008 22:33 by smilewithme From over the pond:"The news announced today dramatically should change the way investors perceive GSM. Here's the bottom line: GSM now offers the upside of an explorer, without the commensurate risk. We now have two areas of mineralized, economic ore: 70,000 ozs of gold resource at 6.5g/t gold, around which we had a hole hit an area fifty metres away with 5.7g/t, AND a high-grade, shallow vein with nice intersections of gold grades and intervals, hit in TWO places. Within each of those two intersections, are high segments of 40g/t gold! My goodness, what more do investors need to buy this stock? Both the 70,000 43-101 resource area will likely grow now, as well as the shallower high-grade vein. Even fully diluted (81.2M shs), the market cap of GSM is a silly US$6.8M. Unreal... I say again: the bottom line is that this stock now has more certain upside at these levels, absent the usual risk. I will be buying more again tomorrow if the stock is anywhere near these prices. GLTA GSM longs!" |
Posted at 16/2/2008 18:38 by smilewithme posted on behalf of dfergu7477....Today was unusual for GSM. There have only been four trading days since mid-August (or, over six months) on which the volume has exceeded 200,000 shares. Today was one of them--267,500 traded. What's interesting is that that volume--as rare as it is--represented just $34,000. Here's the key: this stock is so thinly held and so depressed that $34,000 moved up the ask by 22.7%. THAT begs the question: What happens if GSM hits anything at all with their upcoming drilling? The thing is that GSM now has the best chance EVER of hitting something, because they finally have funding for Monte Cristo (MC). So, here's where we might be with this stock. Because of the past, most investors have given up on GSM. Even as the gold price marched up into the $900s, GSM's stock went DOWN. Now, at its nadir, when it is the most unloved and investors couldn't care less about the company, the prospects were/are the BEST because the company finally has the funding to find more gold. And still the stock sat still. A few folks not only still believed, but invested more. International Bethlehem CLEARLY believes, as they are committing $3,000,000 (which is 1/88 of today's dollar volume) to drill MC. And that much gets them HALF the value of MC in a JV. I was lucky enough to get more units in the recent PP, which was oversubscribed. As it turned out, Pinetree was a big investor and wanted more, too. So, here we are. At the darkest moments based on immediate past, the stock foundered. But some relatively big boys--Pinetree and International Bethlehem--took advantage. Now, it's up to individual investors to decide if they want to get on for the ride, too. Every investment is a balance of risk and reward. I think the risk is pretty much already priced into the stock; GSM's properties are too good for the stock to go to zero (especially with a rising gold price). I suppose the stock could gradually grind down again if they don't find more gold. Conversely, I think the reward is potentially stupifying. At this price, I'm taking that risk. I don't have all my portfolio in the stock, but I have a meaningful chunk (over 10%) allocated to GSM shares. I look forward to the day when the REALLY big boys move into this stock. What a ride that will be. GLTA! |
Posted at 14/2/2008 20:44 by smilewithme from dfergu7477 over at stockhouse:Hi, smilewithme, I agree that this may be GSM's year. After last year's painful experience with VSA twice failing to raise funds they said they would, GSM appears ready to rock and roll. As far as this latest financing goes, I again participated (I had for the late Summer/Fall private placement, as well.) It will take just the tiniest bit of good news and this stock will explode. Do you see on Yahoo the average number of GSM shares traded over the last three months? 46,000 shares. Puny! That's well less than $10,000 worth of GSM stock traded per day on average over that time. In fact, it's closer to $5,000 than $10,000. Now, juxtapose that piddly amount with what International Bethlehem has agreed to fund in exploration monies over the next four years, in their letter of intent to garner 50% of the Monte Cristo property in a JV: $3,000,000. IMO, this is a company moving event. Even as recently as last May, I believe VSA said they'd raise around $2,000,000 for Monte Cristo alone, and weren't able to do it. Now, we have IBC saying they'll do $3,000,000. They can only be offering to invest that much in exploration for HALF of the value of Monte Cristo, because they are extremely excited. Heck, they see what I see. There's gold in Monte Cristo--GSM already has from ~70,000 to ~100,000 ozs. of gold already discovered. Their current efforts will focus on the areas surrounding that find. I've been to the property. I've seen where the creosote plants are that GSM discussed at the end of 2007, when Ruth and Tony shared with me that the expert who analyzed the traces of gold in the plants had never seen higher readings on similar plants, anywhere! That location is right near the MacLean pit (where the current resource exists). Now, GSM is cashing up and will drill like crazy in 2008. I believe they're working on other JV's, as well. That makes sense, too, as their additional Walker Lane and other properties are also terrific candidates for JVs. To go back to what I said at the outset of this post--it won't take much and this stock blow up higher and faster than we can now fathom. After all, we're talking about fantastic properties that GSM was gathering back around 2000, when no one cared about gold. Now? Gold's in the $900s and Monte Cristo--which is similar in ground and structure to the famous Comstock lode--except that it's MUCH larger--will aggressively be drilled. All it'll take is one hit--just one--and we're off. The stock market notwithstanding, IBC thinks so much of MC's prospects that they're willing to invest $3,000,000 to get just half of it! Investors were greatly disappointed by GSM's lack of activity in 2007 (again, mainly due to VSA's failings), and the stock still reflects that sentiment. Now, GSM active and will get MORE active. The company is rockin' and rolling' and the market doesn't know it, yet. But it will, my friend, it will. GLTA! |
Posted at 01/2/2008 17:59 by smilewithme Gold Summit (GSM.V) - partners Monte Cristo property with International Bethlehem Comment by Objective Capital , Jan 31, 2008 Questions? Contact our analyst Monte Cristo LOI agreement The agreement gives International Bethlehem Mining Corporation the right to earn up to a fifty percent interest in the Monte Cristo property by spending US$3 million in exploration over four years and issuing 600,000 common shares. IBMC has the right to acquire a 25 percent interest for US$1.5 million in exploration expenditure and issuing 400,000 shares. If exploration results are favourable, International Bethlehem has the right to accelerate payments and share issuances. To date, Gold Summit has established an NI 43-101 inferred resource of 331,000 tonnes averaging 6.5 grams per tonne of gold and twenty grams per tonne of silver for around 80,000 ounces of contained gold and gold equivalent resources. This resource is in the vicinity of the McLean open pit. Gold Summit has identified several additional drill targets within the eleven-kilometre strike length of the structure. Objective's view: During last year, Gold Summit made slow progress at the Monte Cristo property, largely due to the inability to raise sufficient funds for their planned core drilling campaign. The company drilled 2,000 metres of reverse circulation drilling, concentrating on the Ohio Camp in the south of the property. Results showed that gold is widely dispersed in the volcanic host rocks, and not concentrated in veins. This recent development provides a welcome financial boost and should enable Gold Summit to advance its exploration campaign, subject to receipt of a Plan of Operations permit, expected in early February. The programme is designed to expand the existing resource in the McLean lode and to test several of the better drill targets. Gold Summit will be the operator, with budgets and programmes subject to International Bethlehem's review and approval. Meanwhile, work is progressing on Gold Summit's JV property, financed by Astral Mining. Core drilling is expected to start in mid-February on two gold targets, as reported in the press release dated 21 January. Elsewhere, Gold Summit has been successful in raising funds for its newly optioned Burning Lake nickel-copper deposit in Ontario. This is a different direction from the high-grade underground targets the company has been chasing in Nevada and the Carolinas, and will offer a more balanced portfolio for investors. Gold Summit remains confident in the potential of the Monte Cristo property, comparing it to the historic Comstock Lode. Clearly the delays and rising industry costs will have taken their toll but gold price forecasts remain bullish. Against that background we view the agreement with International Bethlehem as a reasonable approach to enable the company to continue exploration. |
Posted at 06/12/2007 14:28 by smilewithme from tooclassy:This new deal gives GSM something new to work on, giving them some extra breadth. Meanwhile, I am pleased that the stock price is holding up okay during the most horrendous tax loss selling I have ever seen. I have seen some stocks absolutely trashed in the last few weeks. So, we have a good technical picture here to support the company's projects (namely, their high potential Monte Christo project in Nevada). I believe GSM investors are more intelligent and patient than the average drillhole play investors, and are waiting out the tax loss season for better things to come in the first quarter. I heard at the San Francisco Hard Assets Conference that GSM president Tony Taylor was approached by a number of companies regarding doing joint ventures. Taylor has been busily setting up the groundwork for building up shareholder value. It looks to me like new JVs are likely to be announced soon. |
Posted at 15/10/2007 22:27 by arpy2 The Meeting With Tony TaylorGold Summit Corporation (TSX-V:GSM) is a junior exploration company that searches for high grade underground targets in the USA. "A few fortunate investors were priviledged to have dinner and a presentation from the CEO (Tony Taylor-he even bought us a drink!)of GSM on a short visit to the UK this week. His presentation was honest and up-to-date. We all found him to be a great guy and so willing to spend time with a small group of UK investors. GSM is a small exploration company that has staked a claim to some choice areas in Nevada and other choice areas also(see other info from smilewithme above). The company has reached the point in its life where the hard work is behind them and some bonanza grades have been proved up. The share price has hardly moved in comparison to the huge potential of this company. A couple of comments from the evening were that the geologists working with Tony in the US are so proud to be working with someone with such a great breadth of knowledge, having worked for several companies including BP in his long career. Another throw-away comment was that the evaluation of the samples from Monte Christo - a great asset to the company - are comparable to the Comstock lode which was a legendary find. "(GSM could have--a high-grade mine that is more than twice the size of the Comstock lode (which produced 8M ozs. of gold and 185M ozs. of silver.)" (nicked from my mate smilewithme) Also, that when Tony saw that the Monte Christo area was up for grabs - it was federal land and just needed to be claimed by placing monuments and stakes in the required areas (and a few other legal bits) - he wasn't slow to grab a large chunk for his company (what a great opportunist he is) and in so doing has given us investors a chance to make a huge profit IF ..... everything continues along the right lines. There is still time to get in at the bottom of the curve with this company and we are hoping for a steep upward climb all things being well DYOR! When asked what the best prospects for this company were Tony said .....well a great multiple of the current market cap..... if they were to make some great discoveries. (but never lose sight of the oposite) Thanks Roge. |
Posted at 05/10/2007 17:47 by smilewithme from stockhousedfergu7477 While I agree that GSM is a junior exploration company, I think it has some unusual things going on that make it a bit different. First, it has a JV in the Carolinas that is producing high-grade drill results so far. That, by itself, is significant to me, and in my mind should alone be worth more than GSM's current fully diluted market cap of a silly $12.6M. But the main thing that I find truly different is that GSM already has some 43-101 compliant resources. I'm unaware of any other junior exploration companies that has any. I know it's a small resource(69,000 ozs. gold; 200,000 ozs. silver), but my sense is that at worst the resource could be expanded and mined, all by itself. That GSM has that JV and a 43-101 resource constitutes a security blanket for me. With them, it's not an all or nothing company--because GSM already has something. Then, there's the wild card of this fall's Monte Cristo drilling. We know they'll find SOMETHING, because they're drilling some holes in places where other outfits found gold. If GSM finds what they think they will, it's a moon shot for us. So that's how I see this play. The downside is already here; I don't think there a lot to lose here with the assets already in hand. They remove a lot of the usual risk usually associated with junior explorers. Conversely, the upside is tremendous if they find some high-grade shoots. Investors will begin to comprehend what GSM could have--a high-grade mine that is more than twice the size of the Comstock lode (which produced 8M ozs. of gold and 185M ozs. of silver.) At that point, no one knows how high the stock would go. I know it sounds crazy, but GSM's market cap with the stock at $10 would still be under a billion dollars. (It'd be about $750M.) And, if Monte Cristo truly is a another Comstock but more than twice as large, then even $10 a share would be light. I'm not saying this WILL happen, only that it could. Given GSM' UNKNOWN fantastic potential and KNOWN downside cushion, I'm in to see what the Monte Cristo drill results produce. GLTA! |
Posted at 31/7/2007 20:43 by smilewithme From over the pond..Gold Summit Corp. (GSM on the Toronto Venture exchange) is now closing privately on about $1.25 million of financing which has attracted the interest of dozens of accredited and sophisticated investors. That financing is more than sufficient for GSM to drill their flagship Monte Christo property in Nevada, the property which already has a very conservatively calculated 69,000 ounce 43-101 compliant gold resource based on minimal drilling. That property has a lot more gold in it, but needs the drilling to prove up more ounces. With sufficient drilling that shows the market something of this deposit's potential, the present puny $5 Million market cap has plenty of room for significant expansion. Substantial success with the drill bit could lead to returns of 10 or 20 times the current market price. Further financings in the future will be done undoubtedly at higher prices. I am not worried about dilution. However, I was worried that the company could not get the money to drill Monte Christo. That worry has suddenly been put to rest, as the current private placement has been fully subscribed despite almost no publicity. At present levels the stock is at rock bottom, and is basing here during the summer doldrums for a nice run in the autumn (if not sooner, due to the imminent closing of its private placement). A presumably higher gold price in the autumn, the end of the summer doldrums in September (just weeks away!), and a drill program that finally shows what the Monte Christo property has in it - all these things should give investors a run for their money in the coming months. TooClassy |
Posted at 10/7/2007 14:15 by yikyak GOLD SUMMIT CORP Gold Summit/Astral JV Intersects 1.98 m of 17.8 g/t Au at Saluda, South Carolina 7/10/2007 RENO, NEVADA, Jul 10, 2007 (MARKET WIRE via COMTEX News Network) -- Gold Summit Corporation ("GSM"),(TSX VENTURE: GSM), and JV Partner Astral Mining Corporation ("Astral"), (TSX VENTURE: AST) report further assay results from quartz veins intersected in core drilling on the Rinehart Property, Saluda County, South Carolina. A total of 525m in 6 holes were completed along a 135m long segment of a northwest-trending shear zone containing several sub-parallel gold-bearing quartz veins dipping southwest at approximately 45 degrees. The Main Vein, first identified and sampled in a prospect pit (3.4 to 144 g/t gold), was intersected by Hole S1 (14.4 g/t Au over 2.16m and 7.8 g/t Au over 1.95m in duplicate intersections) 55m to the northwest (reported May 24, 2007 News Release) and now in vertical hole S4 which intersected 1.98m (drilled interval) assaying 17.8 g/t Au 75m northwest of the prospect pit (see attached Map). Where intersected, the Main Vein has an interpreted true width of 1.3m: it strikes northwest and dips approximately 45 degrees southwest. Although the Main Vein does not appear to continue southeast of the pit outcrop, potential exists for extensions down-dip and along strike to the northwest. Geological observations so far confirm the "greenstone" lode gold model with potential for a stand-alone, high grade, underground deposit. Sub-parallel mineralized veins also exist and additional sampling of altered felsic and mafic schist host rocks is in progress to determine if broader mineralized zones occur between veins. This possibility is suggested by historical trench sampling (1.4 g/t Au over an interval of 56.4m in channel samples from weathered, altered, volcanic rocks --see May 24, 2007 News Release). Positive assays results would open up potential for an open pit, bulk tonnage deposit. Once all assays have been received, plan will be finalized for the next stage of work on this project. Technical Details: A summary of the Rinehart drill hole information and assay results for intervals containing greater than 1.0 g/t Au is provided below. Hole S4 intersected 1.98m (drilled interval) assaying 17.8 g/t Au, approximately 20m further along strike to the northwest from the previously-reported Hole S1 intersection (see above). Visible gold associated with galena occurs in a massive quartz vein between 18.14 and 20.12m from which 83% of the core was recovered. This intersection demonstrates that the main vein has a true width of approximately 1.3m (in the Prospect Pit and Holes 1 and 4) over a strike extent of at least 75 m. Quartz veins, sub-parallel to the main vein, were also intersected in Holes S2, S3 and S5. The Main Vein was not intersected in Hole S2, drilled across strike close southeast of the prospect pit outcrop, suggesting it is either cut off by a fault or rapidly pinches out below outcrop. Hole S3 was drilled to the northeast to intersect the Main Vein between the prospect pit and the previously reported high-grade intercept in Hole S1, 40m down-dip. A 3.8m wide zone of quartz veining was intercepted between 46.50 and 50.30m. However, only 0.45 m of core was recovered and contained only background gold values. However, because of extensive core loss the result may not be representative of the gold content of the whole interval. A deeper interval of veining in Hole S3 contained anomalous gold values in the 0.2 -0.3 g/t range. Holes S5 and S6 drilled were drilled from the same collar location 53m to the northwest of Hole S4 to test the northwest extension of the shear zone. These both intersected quartz veining but did not intersect the Main Vein. Further drilling will be required to determine if the Main Vein pinches out or is offset in this area. -------------------- Terms of the joint venture allow Astral to acquire an initial 51% interest in any defined property within two designated gold districts, one both in North Carolina and South Carolina after total expenditures of US $300,000 over a two year period. Of that, $100,000 is a commitment within one year. Astral has the further option to acquire a total 70% interest in any designated property by funding further exploration and completing a feasibility study. In addition, Astral has the option to acquire a total 80% interest in any designated property by placing a mine into production. GSM's consulting team in the Carolinas operates the joint venture subject to budget and programme approval by Astral. The Carolina districts, previously described in a press release dated July 19, 2006 both contain old workings with outcropping, "greenstone" style, quartz veining from which samples containing visible gold, confirmed by assay, were obtained. They are part of a an island arc greenstone belt that extends 1000 km and containing over 400 separate gold occurrences, many of which lie unexplored since the early 1800's. In other news, GSM has retained the services of The Richmond Club Corp ("Richmond Club") of Toronto to provide investor relations services to the company, subject to TSX Venture Exchange approval. The Richmond Club receives $1,450 a month for 12 months and options to purchase 276,000 GSM shares at $0.155c/share for three years, vesting as to 25% every three months, subject to TSX-V approval. The Richmond Club is a media company showcasing 3-4 companies that it feels have an excellent chance of out-performing the market over a 1-2 year period. These companies are presented to the Club's 612 members by website and investor luncheon meetings held monthly at the National Club at Bay and King Street. Members are a mixture of brokers, fund managers and high net worth investors. Ronald D McDaniel, BSc.,MSc., a registered Professional Geologist in the State of North Carolina, is designated as the Qualified Person supervising Gold Summit's technical work in the eastern United States. All assays quoted in this release were performed in duplicate by standard Fire Assay/AA methods on sawn, half core samples submitted to American Assay Laboratories in Sparks, Nevada The securities referenced by this news release have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws, and unless so registered may not be offered or sold in the United States absent registration or applicable exemption from registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities of Gold Summit Corporation in any jurisdiction. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. To view a copy of the "Map : 2007 Phase I Diamond Drill Hole Location Map - Saluda Gold Project", please visit the link below: Shares Outstanding 42,172,313 The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. Contacts: Gold Summit Corporation Hillary Vonich (775) 284-7200 Website: www.goldsummitcorp.c SOURCE: Gold Summit Corporation Copyright 2007 Market Wire, All rights reserved. |
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