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Gran Columbia (GCM.t) 200k > 350k+ oz/yr Gold miner

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2021 Update / Production thru Q1.2021 etc

(Kitco News) - Gran Colombia Gold (TSX: GCM) announced today that it produced a total of 19,958 ounces of gold in December 2020 bringing the total for the fourth quarter of 2020 to 57,265 ounces compared with 65,237 ounces in the fourth quarter of 2019.

PRODUCTION /  v 2021-June
Mo.: Prod'17: Prod'18: Prod'19: Prod'20: Prod;21:
Q1- :  39,008 :  52,672 : 60,601 : 56,247:  50,000:
Q2- :  46,075 :  52,906 : 57,882 : 48,228:  50,000: - 16.7% (Covid)
Q3- :   37.1 K :  57,163 : 56,271 : 58,454: 54,000E: + 3.9%:
Q4- :   52.0K :   55,260 : 65,237 : 50,000: 55,000E:  + 12 %
Yr. =  174.2k : 218.0k : 240.0k.:

GCM to-GDXJ, update: fr.1.1.2020: 10d: C$5.10 /42.50, 09.15.21: = 12.00%

Prev. 10.15.20: 10.9%, 3.09.21: 13.2%, 05.10.21: = 10.1%

6sBFyaQ.gif

update: fr.1.1.2020: 10d: C$5.10

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=== :: 2017 ::  2018 ::  2019 ::  2020 ::  2021 ::  +  pct. : Gcm.t: wt.B : "Gap" : Gdxj : Ratio:
Yr.E:  $ 1.96 : $2.82 :  $ 5.57 :  $ 8.06  :  -N/A-  +97.5%: $8.06: $5.86: $2.20: 54.24: 14.9%
Jan.  00,000: 16,700 : 17,941 : 18,501: 00,000 :   +3.1%
Feb.  00,000: 17,339 : 21,335 : 18.674: 00,000 :  -12.5%
Mar.  00,000: 18,633 : 21,325 : 19,072: 00,000 :  -10.5%
=Q1: 39,008: 52,672 : 60,601 : 56,247: 00,000 :  - 7.1%:   $4.05: $2.41: $1.64: 28.10: 14.4%
Apr.  00,000: 16,118 :  20,372 : 12,602: 00,000 :  -38.1%
May 00,000:  18,675 : 18,528 : 18,129: 17.936 :   - 2.2%
Jun. 00,000:  18,400 : 18,882 : 17,497:  - 7.3%
=Q2: 46.08k: 52.91k : 57,882 : 48,228: -16.7%: $6.88 :$4.84: $2.04: 49.58: 13.9%
July  00,000: 19,296 : 18,166 : 18,111:   - 0.3%: $7.10 :$4.92: $2.18: 60.44: 11.7%
Aug. 00,000: 18,747 : 18,710 : 20,644: +10.3%: $6.00: $3.93: $2.07: 60.19: 9.97%
Sep.  00,000: 19,120 : 19,395 : 19,699: + 1.6%: $6.27: $4.25: $2.02: 55.36: 11.3%
=Q3: 37.10K: 57,163 : 56,271 : 58,454: + 3.9%: $6.27: $4.25: $2.02: 55.36: 11.3%
================================ : Yr.H: $8.10: $5.94: $2.16: 65.95: 12.3%
================================ : Yr.L : $2.88: $1.31: $1.57: 19.52: 14.8%
9m.: 122.2k: 162.75k: 174,754: 162,929  - 7%
Oct.: 17.33K: 18,065 : 20,968 :
Nov.: 17.33K: 18,193 : 21,835 :
Dec.: 17.33K: 19,002: 22,434 :
=Q4: 52.00K: 55,260 : 65,237 : 60,000E > yr: 223K.Est
======================= ;
2018A: "218,001 OUNCES, UP 25% OVER 2017" :
2019A: "239,991 OZ. est. ,  UP 10% OVER 2018" :
2020 : 240,000 ?? / 200,000+ Segovia + 35,000 Marmato

= : TWO MINES PRODUCTION 

Two Mines: Combined/ ———: Segovia: ——— /  Marmato —— /
Yr.= 239,991: 220,194: - 7.5%E
Mo.: Prod'19: Prod’20/ Prd'19 : Prd’20 : Prd'21 / Prd'19 Prd’20/
Jan.  17,941 : 18,501  / 16,220: 16,865:  15,061 /  1,721:   1,636 /
Feb.  21,335 : 18.674  / 19,196: 16,548:  15,354 /  2,139:   2,126 /
Mar.  21,325 : 19,072  / 18,970: 16,993:  18,643 /  2,355:   2,139 /
=Q1: 60,601 : 56,247 /  54,386: 50,346: 49,058 /  6,215:  5,901  /
Apr.  20,372 : 12,602  /  18,371: 11,400: 17,473 /  2,101 :  1,202  /
May 18,528 : 18,129   /  16,363: 16,915: 17,936 /  2,165 :  1,214  /
Jun. 18,882 : 17,497   /  16,89?: 16,062: 16,789 /  1,991 :  1,435  /
=Q2: 57,882 : 48,228 /  51,625: 44,377: 52,198 /  6,257 :  3,851  /
July  18,166  : 18,111 /  16,100: 16,459: 00,000 /  2,066 :  1,652  /
Aug. 18,710 :  20,644 /  16,739: 17,901: 17,377 /  1,971 :  2,743  /
Sep. 19,395 : 19,699  /  17.211: 17,196: 00,000 /  2,184 :  2,503  /
=Q3: 56,271 : 58,454  / 50,050: 51,556: 50K ?? /  6,221 :  6,898  /
Oct.  20,968 : 19,392  /  18,600: 16,905: 00,000 /  2,368 :  2,487  /
Nov.: 21,835 : 17,915  /  19,447: 15,741: 00,000 /  2,388 :  2,174  /
Dec.: 22,434 : 19,958  /  20,133: 17,438: 00,000 /  2,301 :  2,520  /
=Q4: 65,237 : 57,265  /  58,180: 50,084: 55k ?? / 7,057 :  7,181  /
Mo.: Prod'19: Prod’20 / Prd'19 : Prd’20 : Prd'21 / Prd'19 : Prd’20/
=====
Yr : 239,991: 220,194/ 214,241 196,362: 205K ?/ 25,750: 23,832  /
Guide : 240k :  220K  /   210K  :   196k  : 200-220k

8 mos ==================: 129,082: 133,891: + 3.7%

Thru Aug.: With its trailing 12 months total gold production amounting to 201,170 ounces,

Gran Colombia remains on track to produce between 200,000 and 220,000 ounces of gold in 2021 from its Segovia operations.

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BACK OF ENVELOPE - on a post-Merger basis...

"Group" valuations may look like this BEFORE GLDX Merger):

Gran Colombia related Companies & Enterprise Value of Deposit - (4/16/2020 framework) @ 5/10/21

Company ————  (symbol) : $ Price: shs OS: Mkt.Cap.: Gcm%: $-Value  (%GCM): vs. Old PeakValue: GCM.V

Aris Gold Corp.       (ARIS.t ) : C$2.36: 137.8M: $325.2M: 44.3% : $144.1M: (45.8%): C$3.15: $434.1M, $192M
Gold X Mining Cp.  (GLDX.v): C$3.55:   58.9M: $209.1M: 18.2% : $38.06M: (12.1%): C$4.62: $272.1M, $  50M
Denarius Silver.       (DSLV.v) : C$0.55:   94.2M: $  51.8M:  27.3% : $14.14M: ( 4.5%): C$0.69: $  65.0M, $  18M
Western Atlas Rs.  (WA.v.   ) : C$.070: 116.1M: $   8.13M: 25.8% : $. 2.10M: ( 0.7%): C$0.19:  $ 6.80M, $ 1.8M
=== : Four GCM co’s  ====== :  =====:  ======: $569.4M: ==== : $198.4M: (63.1%) =====> > $778M, $262M (51%)
Gran Colombia Gold (GCM.t): C$5.14: 61.14M: $314.3M: ==== : ======= : (100.%): C$8.40 : C$514M (100%)
--------- vs. 4/16/2020 (GCM.t): C$5.70: 60.80M: $346.6M: ==== : ======= : (100.%): C$6.94 : C$422M (100%)

Wow.  Over 60% (ie 63.1%) of GCM's MktCap is covered by investments in its investments these four companies

The Segovia mine imho is worth $300 Million+ based on its strong production and cash flow.

(Ignoring dilution, here is what it looks like post_merger):

Company ————  (symbol) : $ Price: shs OS: Mkt.Cap.: Gcm%: $-Value  (%GCM): vs. Old PeakValue: GCM.V

Aris Gold Corp.        (ARIS.t ) : C$2.36: 137.8M: $325.2M: 44.3% : $144.1M: (29.6%): C$3.15: $434.1M, $192M
Denarius Silver.        (DSLV.v) : C$0.55:   94.2M: $  51.8M:  27.3% : $14.14M: ( 2.9%): C$0.69: $  65.0M, $  18M
Western Atlas Rs.   (WA.v.   ) : C$.070: 116.1M: $   8.13M: 25.8% : $. 2.10M: ( 0.4%): C$0.19:  $   6.8M, $ 1.8M
= : Three GCM co’s   ====== :  =====:  ===== : $569.4M: ==== : $160.3M : (33.0%) =====> > $506M, $212M (27%)
Gran Colombia Gold (GCM.t): C$5.14: 61.14M: $314.3M: ==== : ======= : (100.%): C$8.40 : C$514M (100%)
GLDX x 81.8%: x 58.9M x.6948 -----> : 33.48M: $172.1M: ==== : ======= :
Gran Colombia Gold (GCM.t): C$5.14: 94.62M: $486.4M: ==== : ======= : (100.%): C$8.40 : C$795M (100%)

About 1/3 (ie 33.0%) of GCM's MktCap is covered by investments in its investments these three companies

Assuming The Segovia mine imho is worth $300 Million+ based on its strong production and cash flow, 

GCM can potentially sustain some reduction in the value of GLDX's assets. if that was to happen.

On the other hand a mine that eventually produces 10 Million oz, in the years to come, could add a lot of value to GCM.

The Toroparu Project’s latest Updated Mineral Resource Estimate Statement (UMRE), effective September 28, 2018, discloses a resource containing 7.35 M-oz gold at an average grade of 0.91 g/t and 128.95 M-ton Inferred Resource containing 3.15 M-oz gold at average grade of 0.76 g/t.

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NEWS': MERGER APPROVED !

Date ET Symbol Price Type Headline
2021-05-27 18:51 C:GCM 5.12 News Release Gran Colombia shareholders approve Gold X acquisition
2021-05-17 09:06 C:GCM 5.57 News Release Gran Colombia to pay 1.5-cent dividend June 15
2021-05-13 19:05 C:GCM 5.03 News Release Gran Colombia earns $118.3-million (U.S.) in Q1

===

Update on Gold X Acquisition , worth almost US$200 Million

Gran Colombia is also pleased to announce that, earlier today, the shareholders of both the company and Gold X approved the proposed arrangement under which the company will acquire all of the issued and outstanding common shares of Gold X not already owned by the company in exchange for Gran Colombia common shares on the basis of 0.6948 of a Gran Colombia share for each Gold X share.

Over 99% of voters approved the issuance of 43.64 Million shares to acquire the GLDX shares not already owned by GCM.

43.64M x C$5.21 = C$ 227.5 Million / C$1.208=  US$188.3 Million

Shares O/S :      61.14 Mn x US$4.315= $263.8 M
Newly issued :  43.64 Mn x      $4.315= $188.3 M +71.4% > Fully diluted merger shares?
TOTAL shs.:    104.78 Mn x     $4.315= $452.1 M

About Gold X Mining Corp.

Gold X Mining is a Canadian junior mining company developing the Toroparu gold project in Guyana, South America. Gold X has spent more than $150-million (U.S.) on the project to date to classify 7.35 million ounces of measured and indicated, and 3.15 million ounces of inferred gold resources, develop engineering studies for use in a feasibility study, and define a number of exploration targets around the Toroparu project on its 53,844-hectare (538-square-kilometre), 100-per-cent-owned Upper Puruni concession.

   

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One of the largest gold deposits in the Americas with 7.35 million ounces Measured & Indicated

At US$188M cost, Or $235M including GCM's stake, the GLDX Acquisition cost $32 per Gold Ounce

And adding the expected Capital Cost of $378m= $613M, or $83 per gold Oz. 

GLDX's TOROPARU PROJECT RE-SCOPING AND PRELIMINARY ECONOMIC ANALYSIS

The June 2019 Preliminary Economic Assessment (PEA) assessed the economic results of a re-scoping of the Toroparu Project to include expansion of production from the addition of Sona Hill satellite deposit resources to the mine plan; the reduction in operating costs from self-generated hydro power available from Gold X’s Kurupung River Hydroelectric Project, and the reduction in initial capital contributions required to construct the mine due to the Precious Metals Purchase Agreement with Wheaton Precious Metals (see November 11, 2013 press release).

Highlights from the Assessment include:

  • 7.353 million ounces of Measured & Indicated Gold Resource and 3.150 million ounces of Inferred Gold resource.
  • 4.5 million ounces of Gold production (3.64 million ounces produced in Au doré bars) over 24‐year Mine Life, with:
    • 1.476 million ounces gold doré production over first 10 years
    • 2.148 million ounces gold doré and 876,000 oz gold in concentrate production over balance 14 years
  • 187,500 ounces average gold production over 24-year mine life & 147,600 ounces per year of over first 10 years of production.
  • $2.544 billion Cash Flow from Operations at $1,300/oz Gold Price
    • $1.25 Billion After‐Tax Free Cash Flow (net of $974 million life of mine capital cost estimate)
  • $378 Million pre‐production capital expenditure estimate with
    • $272 Million pre‐production financing requirement (includes Wheaton PMPA deposits)
  • $232 Million Phase 2 expansion financed from internal cash flow
  • 2.92 years payback of initial capital expense

> All results can be found in the Preliminary Economic Assessment Technical Report effective June 11 2019

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From GLDX Presentation - Jan. 2021

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zyxqDi9.png

Committed Wheaton financing reduces finance requirement: $378M - $106m (see below) > $272M finance still needed

vGHfznZ.png

KIAz3n9.png

LvxXzJd.png

vYAGH5P.png

> Jan. 2021 Presentation

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Toroparu Mine.. adds NPV to GCM shares: C$13.46 at $1900??

The Acquisition of GLDX alone could add enough to GCM's value to push the stock to C$13.46 at $1900, or C$14.20 at $2000.   It is deeply undervalued.  And now that the acquisition is done, they can promote it better.  And make steady progress towards permitting and building the mine.

My calculations are below
Resource > Production
7.35M oz: (a) 188k x 24yr = 4,512k oz = $393 at $1500= $1,771M* Free CF
                   (b) 232k x 17yr = 3,944k oz =

*Gold > Free C.F.   : Net P.V.:  IRR : $Cost** = Extra/105Msh+US$4.00 xC$1.21
$1500 : $1,771M >   $760M, 28%: -$613M= $147M:  $1.40  > us$5.40 > C$6.53
$1750 : $2,421M > $1087M, 36%: -$613M= $474M: $4.51  > us$8.51 > $10.30
$1900 : $2,826M > $1291M, 40%: -$613M= $678M: $7.12  >  $11.12  > $13.46
$2000e $3,101M > $1426M, 42%: -$613M= $813M: $7.74  >  $11.74 >  $14.20
======
**US$ cost: $235M GLDX acquisition + $378M Capex = $613M

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GCM share price at the Moment of Approval of the acquisition

GCM / Gran Columbia C$ Quote /  ...  5yr-L: 4yr: 2yr. 10d/ Last: C$5.21

qzMXISi.gif

US$ Quote / TPRFF ... update: 10d/ Last: US$4.315

OY8PjdQ.png

Comparison: vs.GDXJ; C$5.21, US$4.315 = 7.89% of GDXJ ($54.71), 2.42% of GLD ($178.38),

F9BIkqB.gif

RATIO: US$4.315 = 7.89% of GDXJ ($54.71), 2.42% of GLD ($178.38),

oB8OoRR.png

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THE LASSONDE CURVE explains why GCM dropped. 

"When building a mine, a company may trade down to 30-50% of its NAV. 

OgM9MXI.png

The Low might come when they finish the feasibility study, and are getting the financing in place,  From the low, they price will rise soon long as they show progress in being on-time and on-budget".   

/  go to xx mins to hear more :    

Pierre Lassonde: 1:1 Dow to Gold Ratio - $25,000 Gold Coming      >

 

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On 5/30/2021 at 9:23 AM, drbubb said:

GCM share price at the Moment of Approval of the acquisition

GCM / Gran Columbia C$ Quote /  ...  5yr-L: 4yr: 2yr. 10d/ Last: C$5.21

qzMXISi.gif

US$ Quote / TPRFF ... update: 10d/ Last: US$4.315

OY8PjdQ.png

Comparison: vs.GDXJ; C$5.21, US$4.315 = 7.89% of GDXJ ($54.71), 2.42% of GLD ($178.38), 

F9BIkqB.gif

RATIO: US$4.315 = 7.89% of GDXJ ($54.71), 2.42% of GLD ($178.38),

oB8OoRR.png

 

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GRAN COLOMBIA COMPLETES ARRANGEMENT WITH GOLD X FOR THE CREATION OF A NEW MID-TIER LATIN AMERICAN GOLD PRODUCER

Gran Colombia Gold Corp. has completed its acquisition of all of the issued and outstanding common shares of Gold X Mining Corp. not already owned by Gran Colombia by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia). The arrangement became effective at 12:01 a.m. Pacific Time on June 4, 2021. As a result of the arrangement, Gold X became a direct, wholly owned subsidiary of Gran Colombia and Gran Colombia gained control of the Toroparu gold project located in Guyana, South America.

Serafino Iacono, executive chairman of Gran Colombia, commented: "With the closing of the Gold X acquisition today, we have created a new mid-tier Latin-American gold producer with a complementary asset portfolio including the world-class, free cash flow generating Segovia operations located in Colombia and the large, high-growth and substantially derisked Toroparu gold project in Guyana. On a combined basis (1) for Segovia and Toroparu, our measured and indicated gold resources now total 8,778,000 ounces (256.5 million tonnes grading 1.06 g/t Au) and we have another 4,359,000 ounces of gold in the inferred category (132.6 million t grading 1.02 g/t Au). Over the next couple of months, we will be refining our development options at Toroparu, including an update of the mineral resource estimate for the Toroparu project to incorporate the new geologic model and project optimization that includes the discovery of continuous high-grade gold-bearing structures extending for at least three kilometres in strike and at least 450 metres in depth as recently announced by Gold X. With approximately $6-million (U.S.) of cash in Gold X at closing of this acquisition, this next stage of project evaluation that will lead to an updated preliminary economic assessment for Toroparu is fully funded. We are very excited to begin this next chapter, creating value for our shareholders through our diversified growth platform centred on these two cornerstone assets and our equity positions in Aris Gold and Denarius."

Completion of the arrangement

Pursuant to the arrangement, each holder of Gold X shares is entitled to receive 0.6948 of a common share in the capital of Gran Colombia for each Gold X share held immediately prior to the effective time.

As of today, the company now has 98,287,088 common shares issued and outstanding and a total of approximately 132.1 million common shares on a fully diluted basis.

With Gold X now a wholly owned subsidiary of Gran Colombia, Gran Colombia intends to delist the Gold X shares from the TSX Venture Exchange as soon as practicable. Gran Colombia also intends to submit an application to the applicable securities regulators to have Gold X cease to be a reporting issuer and terminate its public reporting obligations. Prior to the completion of the arrangement, Gran Colombia owned, directly or indirectly, or exercised control or direction over, 9,571,158 Gold X shares, representing approximately 15 per cent of the issued and outstanding Gold X shares prior to the completion of the arrangement.

About Gran Colombia Gold Corp.

Gran Colombia is a mid-tier gold producer with a proven record of mine building and operating in Latin America. In Colombia, the company is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia operations. In Guyana, the company is advancing the Toroparu project, one of the largest undeveloped gold projects in the Americas. Gran Colombia also owns approximately 44 per cent of Aris Gold Corp., a Canadian mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato project in Colombia. Gran Colombia's project pipeline also includes an approximately 27-per-cent equity interest in Denarius Silver Corp. (Spain -- Lomero-Poyatos; Colombia -- Guia Antigua and Zancudo) and an approximately 26-per-cent equity interest in Western Atlas Resources Inc. (Nunavut -- Meadowbank).

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On 5/30/2021 at 9:23 AM, drbubb said:

GCM share price at the Moment of Approval of the acquisition

GCM / Gran Columbia C$ Quote /  ...  5yr-L: 4yr: 2yr. 10d/ Last: C$5.21

qzMXISi.gif

US$ Quote / TPRFF ... update: 10d/ Last: US$4.315

OY8PjdQ.png

Comparison: vs.GDXJ; C$5.21, US$4.315 = 7.89% of GDXJ ($54.71), 2.42% of GLD ($178.38), 

F9BIkqB.gif

RATIO: US$4.315 = 7.89% of GDXJ ($54.71), 2.42% of GLD ($178.38),

oB8OoRR.png

 

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ACTION AT LAST!  GCM:  5.71 +0.70, +13.7%,

Positive drill results and a good interview helped

2021-06-09 07:12 C:GCM 5.15 News Release Gran Colombia drills 0.3 m of 8,150 g/t Ag at Segovia

==

Gran Colombia Gold (GCM) - Dividend Paying Mid Tier in the Making

 

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GCM: 5.30 +0.15 , up 2.9%

on High grade drill result at acquired property...2021-07-06 09:20    C:GCM    5.15    / News Release    Gran Colombia drills 0.98 m of 35.8 g/t Au at Toroparu

Gran Colombia Gold Corp. has released results from the recently completed phase 2 diamond drill program at its 100-per-cent-owned Toroparu project in western Guyana. The 10,494 meters Phase 2 program was designed to confirm the continuity of both the northwest oriented high-grade gold structures and the cross cutting east-west high-grade structures that create a repeatable pattern of intersecting zones amenable to underground mining methods over the 4 kilometer strike length of the Toroparu Project1.

Serafino Iacono, Executive Chairman of Gran Colombia, commented, "The discovery of the structural control of high-grade gold mineralization at Toroparu has reaffirmed our confidence in the potential value of this project as one of our cornerstone assets. The recently completed, two-phase diamond drill program comprised a total of 20,750 meters in 114 drill holes and has confirmed a 4-kilometer ("km") strike length of high-grade structurally controlled gold mineralization at Toroparu.

  • The high-grade mineralized pipes, ranging in grade from approximately 5 g/t gold ("Au") to greater than 20 g/t Au over potentially mineable widths, are often surrounded by a lower grade (0.5 - 5.0 g/t Au) halo of mineralized material. (Figure 5).
  • The high-grade gold grades intersected in structures range from 2.42 g/t Au to 101.7 g/t Au and have a length-weighted average grade of 6.7 g/t Au (uncut) over 113 m and 76 intervals highlighted in this release (Table 1).
  • Since historical drilling has been limited to the upper 450 m of vertical extension of the deposit, this remains open at depth across the 4-km of strike length at depths that are relatively shallow for an underground mine. Results from the most northwest set of drill holes, which intersected multiple high-grade intervals indicate that the high-grade structural component of the deposit is still open along strike to the northwest.

==

If it becomes evident that GCM got a bargain in buying GLDX, the stock could move past old highs, if.when Gold recovers

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:HOW CHEAP?

GCM.t=Tprff vs. GLD, GDXJ ... update:  GCM: x, Tprff; x / GLD = x

3j5syGg.gif

xx

Gold Miner! Seriously??? PE 1.7 - Gran Colombia Gold Stock Analysis

 

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DISCOVERY : two High Grade veins

Gran Colombia drills 0.56 m of 137.44 g/t Au at Segovia

2021-07-12 07:16 ET - News Release

Mr. Serafino Iacono reports

GRAN COLOMBIA GOLD ANNOUNCES THE DISCOVERY OF TWO ADDITIONAL HIGH-GRADE VEINS AT ITS EL SILENCIO MINE AT ITS SEGOVIA OPERATIONS

Gran Colombia Gold Corp. has released high-grade intercepts from the first 59 diamond drill holes totalling 10,229 metres of an infill drilling campaign that is being carried out by the company's mine geology department at the El Silencio mine at its Segovia operations. This 23,000-metre drilling campaign, which commenced in 2020 and will be completed this year, is focused on resource definition within the underground mine developments of the El Silencio mine and complements the previously announced 60,000-metre drilling program being carried out in 2021 by the company's exploration team. High-grade intercepts from two new veins recently discovered by this infill drilling campaign at the El Silencio mine provide and corroborate information of importance for the current and future development of different sectors of this flagship mine.

The best high-grade intercepts from these latest drill results at the El Silencio mine include:

  • 1040 vein, new discovery: 137.44 grams per tonne gold and 10.1 g/t silver over 0.56 metre (ES-GM-U51-20);
  • 1150 vein, new discovery: 93.19 g/t Au and less than 0.3 g/t Ag over 0.54 metre (ES-GM-U59-20);
  • 1180 vein: 73.03 g/t Au and 32.0 g/t Ag over 0.30 metre (ES-GM-U49-20);
  • Manto vein: 44.49 g/t Au and 98.5 g/t Ag over 0.35 metre (ES-GM-U17-21).

Serafino Iacono, executive chairman of Gran Colombia, commented: "Our drilling programs in Segovia are continuing to provide us with outstanding results. With the discovery of two additional high-grade veins at the El Silencio mine, close to the mine workings currently in production, we remain confident that we will continue to expand mineral resources and add to the mine life for this operation. These new discoveries are further evidence that our main mines remain underexplored and have the potential to be larger than what we understand today."

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Gran Colombia Gold posts increased production for Q2 2021

05312016NC_001.jpg(Kitco News) - Gran Colombia Gold (TSX: GCM; OTCQX: TPRFF) announced yesterday that it produced a total of 16,789 ounces of gold at its Segovia Operations in June 2021 bringing the total gold production for the second quarter of 2021 to 52,198 ounces compared with 44,377 ounces from Segovia in the second quarter of 2020.

The company said it also produced 54,573 ounces of silver at Segovia in the second quarter of 2021, up from 41,342 ounces of silver in the second quarter last year. For the first half of 2021, Segovia’s gold and silver production totalled 101,256 ounces and 111,888 ounces, respectively, up from 94,723 ounces of gold and 87,260 ounces of silver in the first half of 2020.

Gran Colombia added that with its trailing 12-months total gold production from Segovia at the end of the second quarter amounting to 202,895 ounces, up 3% over 2020, the company remains on track to meet its production guidance at Segovia for the full year of 200,000 to 220,000 ounces of gold.

The company also announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on August 16, 2021, to shareholders of record as of the close of business on July 30, 2021.

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Gran Colombia closes $300M (U.S.) note offering

2021-08-09 13:00 ET - News Release

Mr. Serafino Iacono reports

GRAN COLOMBIA ANNOUNCES CLOSING OF OFFERING OF US$300 MILLION 6.875% SENIOR UNSECURED NOTES; GIVES NOTICE OF EARLY OPTIONAL REDEMPTION OF 8.25% SENIOR SECURED GOLD-LINKED NOTES DUE 2024

Gran Colombia Gold Corp. has completed its previously announced offering of $300-million (U.S.) in 6.875 per cent senior unsecured notes due 2026. Serafino Iacono, executive chairman of Gran Colombia, commented: "We are delighted with the overwhelming success of this offering, one which attracted high-quality institutional and retail investors who recognized our focus on a strong credit profile and growth through diversification. With the net proceeds of this offering, we will be fully financed to develop our Toroparu gold/copper project in Guyana and we will not need to go to market with any dilutive equity financings to carry out our strategy. We are nearing completion of our updated preliminary economic assessment for the Toroparu project incorporating the recently announced high-grade results from the 2020 to 2021 drilling program. We are very excited to begin this next chapter, creating value for our stakeholders through our diversified growth platform centered on two cornerstone assets, our Segovia operations in Colombia and our Toroparu project in Guyana."

Early optional redemption of 8.25 per cent senior secured gold-linked notes due 2024

Currently, the aggregate principal amount of gold notes issued and outstanding is $18,006,250 (U.S.). Pursuant to the gold notes indenture, the company will complete an early optional redemption on Sept. 9, 2021, of the full remaining aggregate principal amount of its gold notes outstanding. In accordance with the gold notes indenture, the early redemption price will be 104.13 per cent of the aggregate principal amount of the gold notes being redeemed plus accrued interest. Following the early optional redemption, the gold notes will be delisted from the Toronto Stock Exchange

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GCM... Still waiting for the bottom of this 7-8 month correction.  Last: C$4.65,  Yield: 3.87%

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$4.65 is a 42.5% drop from 12mo H of $8.40.  And a 40.8% drop from the prior High of $7.86

Financing of the Second mine is now in place...

Gran Colombia closes $300M (U.S.) note offering

2021-08-09 : GRAN COLOMBIA ANNOUNCES CLOSING OF OFFERING OF US$300 MILLION 6.875% SENIOR UNSECURED NOTES;

...With the net proceeds of this offering, we will be fully financed to develop our Toroparu gold/copper project in Guyana and we will not need to go to market with any dilutive equity financings to carry out our strategy.

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Mine

Gran Colombia boosts net income in Q2 on higher production and increased gold price

Kitco News |

(Kitco News) - Gran Colombia Gold (TSX: GCM; OTCQX: TPRFF) announced today that gold production from its Segovia Operations in Colombia totaled 52,198 ounces in the second quarter of 2021 compared with 44,377 ounces in the second quarter of 2020.

The company’s consolidated revenue amounted to $96.4 million and $198.3 million in the second quarter and first half of 2021, respectively, up from $77.1 million and $178.1 million in the second quarter and first half, respectively, of 2020.

The year-over-year increase in revenue largely reflects an increase in the company’s realized gold price which averaged $1,805 per ounce sold in the first half of 2021 compared with an average of $1,622 per ounce sold in the first half last year.

The company reported net income of $29.8 million ($0.41 per share) in the second quarter of 2021 compared with a net loss of $18.6 million ($0.27 per share) in the second quarter of 2020, reflecting an improvement in income from operations and a gain on financial instruments.

The company said it remains on track with its annual production guidance of 200,000 to 220,000 ounces of gold from Segovia in 2021.

/ 2 /

Adjusted net income (1) for the second quarter of 2021 was $23.6-million (33 cents per share) compared with $17.5-million (29 cents per share) in the second quarter last year. For the first half of 2021, adjusted net income improved to $45.5-million (69 cents per share) from $38.7-million (66 cents per share) in the first half last year. The year-over-year improvement in adjusted net income in the second quarter and first half of 2021 largely reflects the factors noted above regarding income from operations partially offset by an increase in income tax expense.

> https://www.stockwatch.com/News/Item/Z-C!GCM-3125169/C/GCM

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Two Mines: Combined/ ———: Segovia: ——— /  Marmato —— /
Yr.= 239,991: 220,194: - 7.5%E
Mo.: Prod'19: Prod’20/ Prd'19 : Prd’20 : Prd'21 / Prd'19 Prd’20/
Jan.  17,941 : 18,501  / 16,220: 16,865:  15,061 /  1,721:   1,636 /
Feb.  21,335 : 18.674  / 19,196: 16,548:  15,354 /  2,139:   2,126 /
Mar.  21,325 : 19,072  / 18,970: 16,993:  18,643 /  2,355:   2,139 /
=Q1: 60,601 : 56,247 /  54,386: 50,346: 49,058 /  6,215:  5,901  /
Apr.  20,372 : 12,602  /  18,371: 11,400: 17,473 /  2,101 :  1,202  /
May 18,528 : 18,129   /  16,363: 16,915: 17,936 /  2,165 :  1,214  /
Jun. 18,882 : 17,497   /  16,89?: 16,062: 16,789 /  1,991 :  1,435  /
=Q2: 57,882 : 48,228 /  51,625: 44,377: 52,198 /  6,257 :  3,851  /
July  18,166  : 18,111 /  16,100: 16,459: 00,000 /  2,066 :  1,652  /
Aug. 18,710 :  20,644 /  16,739: 17,901: 17,377 /  1,971 :  2,743  /
Sep. 19,395 : 19,699  /  17.211: 17,196: 00,000 /  2,184 :  2,503  /
=Q3: 56,271 : 58,454  / 50,050: 51,556: 50K ?? /  6,221 :  6,898  /
Oct.  20,968 : 19,392  /  18,600: 16,905: 00,000 /  2,368 :  2,487  /
Nov.: 21,835 : 17,915  /  19,447: 15,741: 00,000 /  2,388 :  2,174  /
Dec.: 22,434 : 19,958  /  20,133: 17,438: 00,000 /  2,301 :  2,520  /
=Q4: 65,237 : 57,265  /  58,180: 50,084: 55k ?? / 7,057 :  7,181  /
Mo.: Prod'19: Prod’20 / Prd'19 : Prd’20 : Prd'21 / Prd'19 : Prd’20/
=====
Yr : 239,991: 220,194/ 214,241 196,362: 205K ?/ 25,750: 23,832  /
Guide : 240k :  220K  /   210K  :   196k  : 200-220k

8 mos ==================: 129,082: 133,891: + 3.7%

Thru Aug.: With its trailing 12 months total gold production amounting to 201,170 ounces,

Gran Colombia remains on track to produce between 200,000 and 220,000 ounces of gold in 2021 from its Segovia operations.

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Gran Colombia Announces Second Quarter and First Half 2021 Results

August 12, 2021
  • Net cash provided by operating activities in the second quarter of 2021 was $12.8 million compared with $7.0 million in the second quarter last year. Operating cash flow in the second quarter each year typically bears the heaviest impact of income tax payments in Colombia which amounted to $49.3 million in the second quarter of 2021, up from $35.3 million in the second quarter last year. For the first half of 2021, net cash provided by operating activities amounted to $26.4 million compared with $38.9 million in the first half last year reflecting the increased level of income tax payments in 2021 and $8.8 million of change of control payments made by Aris related to the Aris Transaction.
     
  • Free Cash Flow (1) in the second quarter of 2021, which reflected the increased levels of sustaining capital expenditures and income tax payments this year, was negative $3.0 million compared with negative $3.8 million in the second quarter of 2020. Free Cash Flow for the first half of 2021 was negative $0.5 million compared with $14.1 million in the first half of 2020. The Company’s Free Cash Flow, adjusted to exclude Aris, in the first half of 2021 was $11.8 million compared with $20.1 million in the first half last year, reflecting an increased level of income tax payments and capital expenditures at Segovia in the first half of 2021 compared with the first half last year.
     
  • The Company’s balance sheet continued to reflect solid liquidity with total cash of $57.8 million and working capital of $59.3 million at the end of June 2021.
     
  • The Company returned a total of $7.6 million to shareholders in the first half of 2021 with payment of its monthly dividends totaling $4.4 million and the repurchase of 702,000 shares at a cost of $3.2 million ($4.56 /sh. x1.252= C$5.70)
  • Adjusted net income (1) for the second quarter of 2021 was $23.6 million ($0.33 per share) compared with $17.5 million ($0.29 per share) in the second quarter last year. For the first half of 2021, adjusted net income improved to $45.5 million ($0.69 per share) from $38.7 million ($0.66 per share) in the first half last year.

> https://grancolombiagold.com/news-and-investors/press-releases/press-releases-details/2021/Gran-Colombia-Announces-Second-Quarter-and-First-Half-2021-Results/default.asp

   
Shares Issued 98,485,770 > reduced by -702k : -0.71%
Close 2021-08-18 C$ 4.57

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GCM Ready to Roll... again?

GCM.t... update: 10d / Last: $4.87

qMg7ztZ.gif

 

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GCM & wtB still in downtrend

GCM.wtB etc ... update: wtb: $C2.71, 58.4% of GCM: C$4.64 ARIS: C$1.78

bgupq7B.gif

ratio: wtb: $C2.71, 58.4% of GCM: C$4.64

xx

==

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STARTING AN UPWARDS MOVE?... as GCM gets above $5

GCM ... update: 10d / Last: $5.03 +0.06, should head to likely resistance at $5.40... and then??

dETxIia.gif

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"Commissioning of the new polymetallic recovery plant at Segovia has commenced..."

==o.: Prod'19: Prod’20/ Prd'19 : Prd’20 : Prd'21 / Prd'19 Prd’20/
July  18,166  : 18,111 /  16,100: 16,459: 15,258 /  2,066 :  1,652  /
Aug. 18,710 :  20,644 /  16,739: 17,901: 17,377 /  1,971 :  2,743  /
Sep. 19,395 : 19,699  /  17.211: 17,196: 00,000 /  2,184 :  2,503 /
=Q3: 56,271 : 58,454  / 50,050: 51,556:  50k ?? / 
8 mos ==================: 129,082: 133,891: + 3.7%

GCM to-GDXJ, update: fr.1.1.2020: 10d: C$5.10 /42.50, 09.15.21: = 12.00%

Prev. 10.15.20: 10.9%, 3.09.21: 13.2%, 05.10.21: = 10.1%

6sBFyaQ.gif

: update: fr.1.1.2020: 10d:

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GRAN COLOMBIA ANNOUNCES SEGOVIA PRODUCTION FOR AUGUST 2021; DECLARES MONTHLY DIVIDEND TO BE PAID ON OCTOBER 15, 2021

Gran Colombia Gold Corp. produced 17,377 ounces of gold and 17,915 ounces of silver at Segovia in August, 2021, bringing the total for the first eight months of the year to 133,891 ounces of gold and 144,796 ounces of silver, up from 129,082 ounces of gold and 118,570 ounces of silver at Segovia in the first eight months of 2020.

Gran Colombia processed 50,245 tonnes in August at its Maria Dama plant, representing a daily processing rate of 1,621 tonnes per day (tpd), and head grades averaged 12.0 grams per tonne in the month. This brings the daily processing rate for the first eight months of 2021 to an average of 1,505 tpd with an average head grade of 12.7 g/t compared with 1,242 tpd at an average head grade of 14.7 g/t in the first eight months of 2020.

Commissioning of the new polymetallic recovery plant at Segovia has commenced and the company expects to begin producing concentrate including zinc, lead, gold and silver from its tailings in the fourth quarter of 2021.

With its trailing 12 months total gold production amounting to 201,170 ounces, Gran Colombia remains on track to produce between 200,000 and 220,000 ounces of gold in 2021 from its Segovia operations.

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