Q: May I have your thoughts on GOT.V latest discovery? If I understand the press release correctly they have discovered additional mineralization where glaciers have retreated. They appear to be “grab samples” so they haven’t done any drilling to get any idea how deep is the mineralization. Risks are still high! Have insiders maintained or increased their positions since my January 2023 question? I note the stock is slightly higher than a year ago, probably mostly due to weaker interest rates! Any thoughts you have would be appreciated.
Regards,
Jim
Regards,
Jim
5i Research Answer:
Insiders have reduced their ownership by about 1.2% in the last six month (percent, not percentage points). Cash burn was $20M in the last 12 months, and cash about $6M. We would expect another financing this year. Grades on samples are very good (101g/tonne) but we pay nearly no attention to anything but actual drilling samples. Grab samples are easily manipulated and not that emblematic of what's underneath, at least in terms of economic recovery predictions. Still, the stock is doing well and is not without potential. Drill results have increased scope and mineralization. Crescat continues to buy shares and is now at ~17%. Eric Sprott has dropped to less than 10% and no longer has to report his holdings.