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|smilewithme: Great to see the share price creeping up recently. Are we going to see some excitement - the drill results should be out soon, according to information posted earlier.
The current drilling has been to "test one of several epithermal vein targets in the Ohio Camp area at Monte Cristo"
This is just one of 20 identified targets. Lets' hope this is successful, we can raise some more money at much higher prices and prove the Comstock model.|
|arpy2: The Meeting With Tony Taylor
Gold 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)
This was a reply that I posted elsewhere but felt it may be useful here also to clarify just why this is exciting.
Thanks for the opportunity to help here.
It is not Monte Christo itself that has the inferred resource but only a small part of it.
"west of the Mclean Pit...........has an inferred resource estimate of 365,000 tons at a grade pf 0.19 ounce per ton gold and .60 ounce per ton silver at a cut off grade of0.1 ounce per ton gold"
And yes that is 70,000 ozs Gold and 200,000 ozs. silver. (Although a small resource, I don't know of any other mining juniors with a 43-101 and such a small market cap around $7 million)
Further drilling, in May, was not successul at the McLean Lode, so GSM decided to look elsewhere.
Since you said "I don't see much in the way of head way here. Am I wrong?"
Well, suggest you also consider, from the same report.
"Compilation and integration of Gold Summit's 2006 field mapping and data from old exploration programmes conducted by previous explorers is now virtually complete. The process has defined 11 target areas, apart from the McLean Lode along the 11km of alteration and major faulting that bisects the property"
These are called Bonanza Drill Targets, by CEO Tony Taylor. "The McLean Lode and Ohio Camp, as well as 12 other drill target areas, sit astride a major regional fault with associated alteration that GSM has mapped for over 11 km, all contained within the Monte Cristo project area. The geological setting of the Monte Cristo district bears striking geological similarities to the Comstock Lode from which a series of "ore shoots" collectively produced approximately 8 million ozs of gold and 185 million ozs of silver. The fault or "lode" that hosts the ore shoots of the Comstock extends for approximately 4.5 km"
Suggest you take a look at
http://www.goldsummitcorp.com/properties/nevada/monte_cristo/ where you will find more information including property map.
Unlike you, I do see a lot of excitement here for all the reasons explained earlier in the thread - and that's why as a newcomer, I have made a major investment in the recent placement at 12.5 cents. (And the market does appear to be wakening up to the possibilities here - share price now at 17.5 cents, having broken out, up 35% in two months)
Even apart from Monte Christo, there seems to be a lot happening in the Carolina's with their JV partner - Astral Mining. "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."
In conclusion, this is still exploration with associated risk - I see little downside and massive upside. Elsewhere someone has suggested that if this is actually the new Comstock, we could see $10/ share!
For the immediate future however, it will take very little to get this from .17 to .25 cents - a doubler for me already. And am in this for the long term anyway....
PS. If you take a look at the slide above as annotated by myself above you will understand how big this could be. Original is at http://www.goldsummitcorp.com/inSitePresent/|
|smilewithme: Golden Summit - Undervalued, Unloved soaring soon
Recognise this? Undervalued, unloved company share price performance poor?
Piedmont Mining have gone from around 10 cents to 40 cents in a month or so.
The value is now with GSM hence my major investment here.
As the company confirms its funding, gets drilling going at Monte Christo there is only one way to go from here. This is my standard multi-bagger territory, but do your own research.
Piedmont Mining Company, Inc. is headquartered in Reno, Nevada and is focused on exploration of properties in Nevada that have the potential to host high-grade gold and/or silver deposits.|
Gartmore Smaller Cos share price data is direct from the London Stock Exchange