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GSM Gart.Sml.Co

262.00
0.00 (0.00%)
26 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gart.Sml.Co LSE:GSM London Ordinary Share GB0005323091 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 262.00 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Gartmore Smaller Cos Share Discussion Threads

Showing 151 to 172 of 250 messages
Chat Pages: 10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
25/3/2009
09:38
"In addition, shareholders will also be asked to approve a name change to "Golden Mammoth Corporation" or any name to be decided by the GSM Board of Directors. The share consolidation and name change are subject to TSX Venture Exchange approval"

Some much better names are under consideration...

smilewithme
25/3/2009
00:57
The name change to 'Golden Mammoth Corp' seems appropriate given the shareprice (lol).
kickstart
24/1/2009
15:18
Good timing too, with the price of gold gaining momentum.
chris1983
21/1/2009
20:11
This is very good news - GSM are now free to find a partner who has some money to get this thing moving again!

Gold Summit's Monte Cristo Prospect News

Reno, Nevada US, Jan 21, 2009 (Filing Services Canada via COMTEX News Network) --
Gold Summit Corporation (GSM - TSX Venture), reports that International Bethlehem Mining Corp. (IBC), citing poor market conditions, advised yesterday that it will not continue its participation in the Mining Option agreement on the Monte Cristo Property. The agreement required IBC to spend a further $600,000 on exploring the Monte Cristo Property in the 12 month period following the February 28, 2009 anniversary date. The Mining Option agreement required IBC to spend $1.5 million on exploration to earn a minimum 25% interest in the Monte Cristo Property and an aggregate of $3 million to earn a 50% interest. The Mining Option agreement also required 600,000 IBC common shares to be issued to GSM. To date IBC spent a total of $600,000 on exploration of the Monte Cristo Property and issued 200,000 shares to GSM.

Commenting on the withdrawal, Dr. A. P. Taylor, GSM's President and CEO said: "the timely notification by IBC of their intentions, leaves our flagship Nevada property unencumbered with the opportunity early this year to seek another partner or other financial option to continue exploring there. High grade underground gold and silver targets in Nevada remain geologically compelling and that does not change with market conditions".

The Monte Cristo Property consists of 372 unpatented lode mining claims, an area of approximately 2,677 hectares (7,500 acres) covering an 11 km north-northeast trending fault zone in Tertiary volcanic rocks. Along the trend, GSM has identified numerous geological and geochemical drill targets.

The Monte Cristo Property includes the McLean Lode, a high grade gold-silver vein system where GSM drilling between 2004 and 2008 discovered a classic epithermal vein system under an old open pit oxide gold deposit. A NI 43-101 inferred resource estimate of 331,000 tonnes averaging 6.5 g/t gold was filed in 2006. The estimate is largely based on reverse circulation drilling and does not include a complete silver assay database. GSM core drilling has intersected vein material with gold grades ranging between 0.1 and 253 g/t gold and 0.2 and 1309 g/t silver. GSM believes that the McLean Lode may lie within a much larger gold/silver bearing zone with many geological similarities to the Comstock Lode system that produced approximately 8 million ounces of gold and 200 million ounces of silver.

GSM explores primarily in Nevada for high grade gold and gold/silver deposits that would support underground, low cash cost operations. GSM's primary properties, totaling 42 km2, cover four Tertiary epithermal vein districts. All these have drill ready targets defined by surface work, most with bonanza grades in outcrops or discovery drill holes.

GSM is also conducting a lithium exploration program in Esmeralda County on behalf of Black Pearl Minerals Consolidated Inc.

Larry Kornze, a GSM director and a registered Professional Geologist, is designated as the Qualified Person under National Instrument 43-101 and has reviewed and approved the contents of this news release.

In other news, GSM reports that James Pirie has resigned as CFO of Gold Summit Corporation to focus on other activities. GSM would like to thank Dr. Pirie for his notable service and wish him well in his future endeavors.

smilewithme
05/10/2008
00:14
A.Fewbob

Take a look at CFO - Clifton Star Resources



By the way Tony Taylor currently in Toronto - loads of meetings lined up...

:-)

smilewithme
04/10/2008
19:47
Thanks smile. Being an investor in PM stocks right now feels like being a length of tarmac on the M25...... not good!
a.fewbob
01/10/2008
12:13
from tooclassy:

I think the main thing with this company Gold Summit is the geological expertise of the man running it. Gold Summit president Anthony Taylor is credited with the exploration and development of the deposit which became the Ridgeway Mine in South Carolina (now closed).



In addition to his duties running Gold Summit, Taylor is a director of Hecla Mining Company. In talking with people in the resource sector I have concluded that as a geologist Taylor ranks in the creme de la creme of his industry. (Your mileage may vary).

I need to study further on Gold Summit's new projects. I am most familiar with its Monte Cristo project in Nevada. I have studied it at length and concluded that it was and is one of the most speculative gold exploration properties out there and deserved its reputation as a Comstock Lode lookalike exploration situation. Not at all known as a promoter-type, I didn't need to heavily discount every word from Taylor but received from him the straight scoop about Monte Cristo (what Taylor knows, what he thinks he knows, what he is trying to know, and what he doesn't know).

Funding Monte Cristo exploration is entirely another matter. The good news is that Gold Summit is using OPM (other people's money) and has a JV partner putting up all the money for exploration to gain a percentage. The bad news is that the JV partner is not going to spend more money until next spring or summer so there is little chance of instant gratification here. Furthermore, there is no getting around it that exploration companies are not the flavor of the month right now with the credit market convulsions out there limiting the funding of such companies. Nevertheless, Taylor has continued forth, assembling new projects and funding for them. The lithium property is a situation providing revenue so that the company doesn't have to dilute itself to keep operating. They say you make money buying stock when nobody wants 'em....I look forward to the exploration companies like Gold Summit coming back in vogue. At that point, stocks like this will reveal the tremendous leverage that they have, especially from these insanely oversold levels.

smilewithme
30/9/2008
15:58
GSM still trying their best to create shareholder value:

*"Gold Summit Corporation (TSX-V GSM) has staked a block of 136 lode mineral claims covering an exposed precious metal bearing, quartz breccia in Esmeralda County, Nevada. Surface samples of stockwork quartz veining assayed between and 0.02 and 12 g/t silver"

*"GSM is also conducting a lithium exploration programme in Esmeralda County on behalf of Black pearl Minerals" (Although Black Pearl gets to keep any Lithium found by GSM, GSM do get paid for looking and finding. And GSM gets to keep share in everything else. There may be Potash in them hills)

*"In western Ontario, Gold Summit is also exploring a nickel-copper prospect in mafic rocks near Dryden where diamond drilling is planned in mid October"

(Understand that the geology is similar to the Noront Discovery which became the Ring of Fire in the James Bay Lowlands. Of course on that back of that NOT was the best performer on the TSX-V, last year – rising from around 50 cents to over $6 in a few months.)




G O L D S U M M I T C O R P O R A T I O N
PRESS RELEASE

FOR IMMEDIATE RELEASE TSX-V Symbol "GSM"
September 29, 2008 Reno, Nevada

GOLD SUMMIT STAKES SILVER BRECCIA-PORPHYRY TARGET IN
NEVADA

Gold Summit Corporation (TSX-V GSM) has staked a block of 136 lode mineral claims covering an exposed precious metal bearing, quartz breccia in Esmeralda County, Nevada. Surface samples of stockwork quartz veining assayed between and 0.02 and 12 g/t silver.

The area is underlain by a regionally prominent, circular, coincident gravity and magneticanomaly, a distinctive pattern that underlies the subsurface signature of many of the large gold and copper metal producing districts in northern Nevada. The circular magnetic feature is interpreted as a buried intrusive with which a number of copper prospects that occur to the north may be related.

The breccia corresponds to a strong resistivity anomaly discovered by Great Basin
Exploration and Mining Company in 1990 who drilled a number of shallow reverse
circulation holes to test for large open-pit gold mineralization. The open spaced nature of the quartz at surface indicates that deeper drilling is warranted for higher grade
mineralization that may include gold and copper as well as silver.

Gold Summit explores mostly in the United States for high grade gold and gold/silver
deposits that would support underground, low cash cost operations. GSM's primary
properties, totalling 42 km2, cover four Tertiary epithermal vein districts in Nevada. All these have drill ready targets defined by surface work, most with bonanza grades inoutcrops or discovery drill holes.

GSM is also conducting a lithium exploration programme in Esmeralda County on behalf of Black pearl Minerals.

In western Ontario, Gold Summit is also exploring a nickel-copper prospect in mafic
rocks near Dryden where diamond drilling is planned in mid October.

smilewithme
25/6/2008
22:45
Hi, I spoke to a couple of "Motley fools" at the Soco AGM about this share and I am hoping that this will be my "Soco" so please forgive me if I am talking out of my hat.

Below is a hot snippet just off the press.

"Gold Summit Corporation (TSX-V GSM) has agreed to sell a 100% interest in a lithium
brine prospect to Black Pearl Minerals Consolidated Inc (TSX-V BLK) for a total
consideration of $300,000 in cash and 3 million BLK common shares as well as certain
acquisition costs. The prospect, located in Esmeralda County, Nevada, covers an area of
about 31 square kilometres and was recently staked by GSM. The agreement is subject to
approval by the TSX Venture Exchange."

This $300k will come in handy to progress work on the "Monty Christo" project which is beginning to show results recently. (please read back a week or so on this board for other news on the excellent gold prospects for Monty Christo).

The interesting thing here is "recently staked out by GSM" because this how Tony Taylor claimed Monty Christo. He is an very experienced geologist who originally worked for BP and must be past retirement age so he knows what he is looking for.

A few of us met him in Winchester for a personal presentation and he is 100% genuine, he even treated our small group to dinner and beers that evening.

Please DYOR on this share, I am just a thicko with faith (and a lot of shares) in this company so I hope that it works out for any that take the plunge - still cheap @10Cc. (that's Canadian cents)

Cheers Roge.

arpy2
18/6/2008
22:33
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!"

smilewithme
18/6/2008
21:02
A.Fewbob

Yes - this "could" be another FRA.

What I like about GSM is that they have not been great promoting themselves but they have the geology. They already have a resource and are proving they have more.

Some companies have the promotion skills but nothing to promote! GSM on the other hand actually has something. And Tony Taylor is a top geologist...

Some top players got involved in the placement last year (given a wink by me) and are now helping to promote the company. It's only a matter of time in my opinion and a lot of patience!!!!

:-)

smilewithme
18/6/2008
20:52
Thanks agian smile for putting me onto these, could they could be another FRA rocket?

My little purchase of 72K shares just boosted the stock price by another 7%! These will really rocket when they start getting noticed!

a.fewbob
18/6/2008
20:48
A.Fewbob

Good for you!

And do you read the stockhouse boards?

Another excellent post from dfergu:

"Because I think the market doesn't get it, I hope you all will allow me to re-visit and compare the importance of the Discovery Vein that lead to the Midas mine, and the just announced discoveries at Monte Cristo. Again, please bear in mind that what is now the Midas mine may well produce 6M ounces of gold before it's all said and done.

First, here's the Midas Discovery intercept:

At about 500' depth, 7.8m of 16.8 g/t Au and 388 g/t Ag.

At Monte Cristo, we have:

First, MCC-65, at 72 metres depth, we hit 3.5m of 12.1 g/t Au; and,
Second, GP-72 (drilled in 1989), at similar depth and 50 metres away, hit 7.6m of 16.9g/t Au.

In each of these two holes, there is upwards of 40g/t Au within the larger intersection.

Isn't it stunning how GSM's second hole's gold intersection is almost identical in length and grade to the Midas Discovery Vein?

That said, there are at least three differences between the Midas Discovery Vein and Monte Cristo find. First, Midas has more silver.

Second and third, though, are that not only are the Monte Cristo intersections much shallower (i.e., more economic), but there are TWO INTERSECTIONS. We already know MUCH more than Franco-Nevada did with their Midas discovery, because of that.

One last thing, somewhat off topic (but not really)... Many folks folks have complained here, about what GSM was doing with all it's time and money over the years. Well, I can tell you this: they committed five years of painstaking digging and effort, to collect and agglomerate as much past data as they could from prior operators' drilling results.

And look at how that's paid off. Heck, MCC-65, by itself, is significant. But by including the information garnered by tracking down the information from a hole drilled in 1989, GSM now knows a TON more about a high-grade, shallow, and fairly extensive interesection, than they otherwise would.

Way to go, Tony and team. Good work"

smilewithme
18/6/2008
20:43
Just bought some more.
a.fewbob
18/6/2008
20:00
Thanks smile.
a.fewbob
18/6/2008
17:32
Some reaction from over the pond:

"These are stunning results, IMO; the market hasn't even begun to appreciate them. I could go into some depth, but don't have time, so I'll cut right to the highlights:

We now have two, high-grade intercepts from what may be a new, good-sized vein, at one-third the depth of resource we already have. For comparison purposes, here's what I said in a June 3rd post on this thread, regarding the Midas mine in Nevada:

"Midas was discovered in an area that had been drilled by 5 major companies, with the best value of 7.8 g/t Au intersected in all that drilling. Then, hole No 8 of the deeper Franco programme intersected the Discovery Vein at about 500' depth. That intersection was 7.8m of 16.8 g/t Au and 388 g/t Ag and was the first indication of bonanza grades in the district. The principal ore shoot at Midas, the Colorado Grande, was found later. The Midas mine may yield 6 million ozs., when all is said and done."

And what we now have with this press release? TWO high-grade holes comparable (IMO) to the intersection that lead to the Midas mine. MCC-65 announced today, is 3.4 metres of 12.1g/t gold; and, GP-72 is 7.6 metres of 16.9g/t gold. GP-72 is virtually of the same grade and interval of Midas Discovery Vein. (Yes, I know that Midas included nice silver intercepts, too, but, conversely, the shallow Monte Cristo hits are half the depth.) MCC-65 and GP-72 include intervals of ~40g/tonne gold. They are 50 metres apart and hit the mineralization at the same elevation. Hmmm... wonder what's between--and beyond--them? {:- )

In addition, MCC-63 hit 5.7g/t of gold at depth--50 metres away from the north of 43-101 resource, which could lead to an increase in the size of the resource, there.

So, where might these holes lead? To both a new, high-grade zone at shallow depth, as well as the potential to expand the known, 43-101 resource at depth. Pretty awesome, if you ask me"

smilewithme
18/6/2008
16:35
Gold Summit Reports 3.5 Metres of 12.1 G/T Gold in New Shallow Zone at Monte Cristo


Reno, NV June 18, 2008

FSC / Press Release


Gold Summit Reports 3.5 Metres of 12.1 G/T Gold in New Shallow Zone at Monte Cristo

Reno, Nevada US, June 18, 2008 /FSC/ - Gold Summit Corporation (TSX - VX: GSM), ("GSM") announces receipt of complete assay data from the last three of a seven hole core drilling program on the Monte Cristo Property in west central Nevada, located approximately 50 km west north west of Tonopah.

International Bethlehem Mining Corp. ("International Bethlehem") (TSX-V: IBC) has an option to acquire up to a 50% interest in GSM's Monte Cristo Property by incurring exploration expenditures of $3 million over four years. Minimum expenditure of $600,000 for 2008 has been met.

The following table shows significant intersections assaying greater than one gram per tonne gold in the three drill holes:



The core drill holes were planned to fill in large gaps within the existing drill pattern and all three intersected the target McLean Lode. Future plans include more systematic core drilling of the McLean Lode in an effort to increase and upgrade the present 43-101 compliant inferred resource of 331,000 tonnes averaging 6.5 g/t gold to indicated and measured status. Significantly, drill hole MCC-63 intersected the Lode 50 metres to the north of the resource area, thereby demonstrating a potential increase in its size. Drill hole MCC-64 did not intersect significant mineralization and is outside the resource area.

The shallow high grade intersection in drill hole MCC-65 is evidence of an upper mineralized horizon in the system with epithermal characteristics similar to the Main Lode. Sampling of GSM's previous core drill holes within this upper zone has not been completed to date. However, assay records from historical reverse circulation holes drilled by Cyprus Copper in 1989 show a similar higher grade interval. Cyprus Hole GP-72, drilled 50 metre east of hole MCC-65, intersected an interval of 7.6 metres assaying 16.9 g/t gold, including a 1.5 metre interval assaying 39.4 g/t gold. GSM is presently examining 22 core previous drill holes in the area to document and sample the upper horizon. It has potential to provide another continuous high grade zone and could significantly increase the size of the McLean Lode.

The new assays are from half cut HQ core at the Sparks Laboratories of American Assay using standard Fire/AA or gravimetric methods with checks provided by insertion of blank and standard samples. Quoted assays for Cyprus Hole GP-72 were from standard 1.3 metre RC splits assayed in Chemex Laboratories in Sparks using the Fire/gravimetric method with inserted standards.

smilewithme
05/6/2008
09:49
from tooclassy over at stockhouse, reminder of what we have here:

My review of the Gold Summit drilling program and a conversation with Tony Taylor

No news from Gold Summit Resources (Toronto Venture: GSM)is not bad news. This is the exploration business, it is a long process and it takes time. Furthermore, the investment climate for resource sector stocks has been very negative recently, and negative generally ever since the subprime crisis-driven stock market meltdown of August, 2007. Further negative since the meltdown in the price of Novagold. Negative - meaning "lower stock prices". Only a small percentage of resource stocks have been moving up in this environment. That said, GSM is not sitting on its hands and doing nothing.

Ongoing drilling at flagship Monte Cristo property in Nevada, USA

GSM is finishing the last of its drilling work, the final drillhole. When it gets the assay data from the last two holes it will analyze all drill results and put out news on what it all means. No, I don't know how successful is the current program. GSM president Tony Taylor was completely tight-lipped about it, and I am sure the market will not know anything until there is a news release.

New 43-101 compliant resource estimate to follow the drill program

Taylor said that a 43-101 compliant updated resource estimate will likely be produced after a near term follow-up drill program (if there is one) is completed, or after both programs if possible. I reviewed a 3D representation of the area of mineralized anomolies below the Maclean pit where a 43-101 resource calculation was previously produced and where more drilling is being done now. Clearly there are further mineralized areas extremely prospective for gold intercepts. Furthermore, the areas between previously drilled intercepts of ore grade material are even more likely to include ore grade intercepts as well, as probable as one can get in this business.

Here, the so-called infill drilling will improve the confidence level in past and current drill results and it's obvious to me that the originally reported and very conservative 43-101 compliant resource estimate of about 70,000 ounces of gold in the inferred category will be substantially upgraded in number of ounces and where possible to a higher confidence category. This is a given. GSM will find more gold where it has already found gold, and secondarily in other untested areas in close proximity which are known to have mineralization with a similar geological signature. More gold intercepts, plus higher confidence level drilling (holes spaced closer together than before), plus perhaps a lower cutoff grade, could easily lift the reported resource to perhaps 125,000 ounces or more should such a 43-101 report be announced. An expanded near-term followup drilling program could lift this to 200,000 or even 250,000 ounces depending on the number of holes done. These are my "guesstimates", and any future surprise "bonanza" grade drill holes would of course build up all these gold ounce numbers further and faster. With nice metal grades and a rising resource base, one can start to envision a small, profitable mine in the making here. All from merely one area among many within the Monte Cristo area. If GSM were to focus only on the area below the Maclean pit it would reduce the risks of exploration in the short term and provide momentum for the company which could later be capitalized on for exploring the other highly prospective targets of Monte Cristo. Meanwhile, the substantially higher numbers in an updated resource calculation should be positive for the stock price.

Silver ounces to get some respect at Monte Cristo

We will get some millions of ounces of silver out of any analysis of current and future drilling. Historical data for silver underneath and near the Maclean pit was poor or non-existent, so there is some past handicap here in determining what we have had, but this will become clearer in the near future. There have been some very high silver grades and intercepts over mineable widths in prior drilling work by the company.The silver is important because it can increase the rock value by up to 50% of the gold value. This can considerably improve the economics of a future mine.

Putting the current drill program in perspective

I reviewed the area of mineralized anomolies below the Maclean pit where a 43-101 resource calculation was previously produced. Clearly there are further mineralized areas extremely prospective for gold intercepts. The current program will be expanded and followed up more aggressively as decided by the JV partners based on the drilling results obtained. The drilling work done here is only in one area among many (a dozen or two) within the Monte Cristo land area. Drilling results from below the Maclean pit will by no means tell us how successful will be the drill programs in each of the other most prospective areas of the Monte Cristo land package. The other areas have a similar or essentially identical geological signature. Based on that it is my opinion that if and when there is substantial (extensive) drilling of the other areas and if those areas obtain results similar to those obtained below the Maclean pit, it is likely to ramp up the gold and silver numbers into the millions of ounces eventually. Of course, whether the JV partners will drill the other areas depends on how successful are the earlier drilling programs such as the current one, and financial constraints. GSM needs substantial results to build up the necessary momentum to justify the drilling of the other areas. I am patiently waiting for GSM to announce its drilling results in a few weeks or so, and for clarification about the scope of the drill program to follow. I am also looking forward to the resource calculation updates. Realistically that is what is likely to drive up the stock price as an increasingly large metal resource leads to a higher probability of a positive production decision.

tooclassy

smilewithme
29/5/2008
15:33
yikyak

please explain for chartist dummies like me

ta

smilewithme
29/5/2008
15:20
.






free stock charts from www.advfn.com






.

yikyak
22/4/2008
23:17
Thanks Smile, appreciate your informative posts and looking forward to some news. Roge.
arpy2
10/3/2008
17:55
from dferfgu7477

Hi, tictactoe111,

While I understand your angst, I think I agree with smilewithme that we are near or at the lows here. Yes, the chart is ugly, and the market has taken a "show me" attitude to the company. On the other hand, therein lies opportunity. GSM will shortly have a joint venture partner confirmed for the flagship Monte Cristo property, and $3mm is slated for drilling there. I think this is the significant departure point from the past.


In 2007, GSM took two body blows from VSA. VSA approached GSM (not vice-versa) and represented that they could raise whatever amount of money GSM needed to drill all their properties. Tony and Ruth spent a lot of time calculating a ~$7mm figure to do that, and VSA failed to raise anything, at all. Then, VSA modified their stance and said they could raise $2mm for Monte Cristo alone. Again, they raised nothing.

This wasted time and effort hit GSM hard. Their focus had been on getting rolling in a big way on the properties for the entire first half of the year, and not only did that effort get wasted but the opportunity cost of not having other productive efforts during that time, really hurt. Then, last Fall, they raised some funds and--although they found some gold--they missed a big intersection.

With 2007 year as the current backdrop, I'm actually pleased the stock hasn't fallen further. GSM stock is apparently in strong hands.


And, this leads us up to the present. Absent VSA, GSM is taking matters into their own hands and starting off the year in strong fashion. It's just not yet reflected in the stock price, because the market wants to see results,first. But now look where we are at the moment. In the last two or three months, GSM has:

* Optioned an attractive nickel property and raised funds in a PP to do preliminary work on it;
* Raised additional funds in a PP that was oversubscribed;
* Optioned the San Francisco property so that that property can be moved forward (it wasn't going to get much work right now from GSM, anyway); and, most importantly,
* Created a JV that aims to expend $3mm on the Monte Cristo property alone. This is huge, IMO. That $ amount is 50% more than VSA stated they'd raise for Monte Cristo.

GSM is an exploration play, and the ultimate story will be told by the drill bit. It's a calculated risk, just as any investment is. On the other hand, we know there is gold at Monte Cristo, and the JV will drill right close by. As ever, the best place to look for gold is next to where there already is gold.

On top of all this, GSM still retains 100% ownership of their other three, excellent properties--Gold Basin, Blue Sphinx, and Gold Springs, and is free to do their own work on them or do additional JVs as they choose.

I believe the best yardstick to judge an exploration company is to assess the extent to which the management team has made discoveries in the past. Tony and his team have done that. They've found properties with Amselco; located the Carolinas properties, and found gold in the McLean pit at Monte Cristo by drilling deeper than prior operators and explorers went. IMHO, his and his team's geologic and detective skills are among the best in the business.

All this doesn't ensure success with the upcoming drilling at Monte Cristo. GSM remains a calculated risk, and these veins are hard to find. But I believe our odds are enhanced, not diminished, with Tony and his team. It appears they finally have the resouces to do their thing. And, if GSM finds another epithermal vein, look out--those veins are very rich things. Your chart will change in dramatic fashion.

GLTA!

smilewithme
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