WIth a new 52-week low today, there is still no definitive sign of a bottom. Most miners are getting taken out to the woodshed today, which could mean yet another leg down. Personally, while I've bought a few others, I'm waiting for signs of a bottom in GSS and we're just not there yet. Just because it's ridiculously cheap, it doesn't mean that it can't get cheaper.
And ignore the nonsense about bankruptcy or lack of dividends. The company is not going bankrupt and most junior mining companies don't pay a dividend for a reason. They prefer to put that money into exploration and trying to expand their resource base rather than paying out a few pennies. If you want a dividend, buy a major. Unfortunately, the majors aren't doing much better and certainly don't have the upside of the juniors.
Saw it. That's the kind of reversal I was looking for. Plus I saw the Prestea Underground news. A half million ounces that, according to an independent source, can be mined at a cash operating cost of $750/ounce. I wonder what the bankruptcy idiots think of that? I think they should just keep having conversations with themselves.
In the meantime, what do you think GSS could sell the Prestea Underground property for? Maybe 2x their current market cap?