The cheapest gold stocks in the world
December 8 -
I’m scouring the pink sheets for the cheapest gold deal I can find. Originally I had a budget of $100, and I wanted to accumulate at least a million shares for that, excluding commissions. In hindsight, that may have been a bit optimistic. However I did stumble across something called Consolidated Golden Quail Resources Ltd., trading symbol GQRFF, which trades for a thousandth of a cent per share. The trouble is there’s no trading on the stock.
Golden Quail is a British Columbia corporation with a business address in Carlsbad, California. It has no assets which I can find. However, by some incredible coincidence I just happen to know the CEO, a guy in Vancouver. Well whaddya know! So I’ve put this one on my watchlist.
Here’s one that is liquid: Hunt Gold Corp, symbol HGLC, a non reporter in Florida with a market cap of $58 million and some 290 billion shares issued and outstanding as of last June. The stock traded 641million shares by today’s close, down 300 thousandths of a cent. It has a 52 week high of over $3 per share and volume has been growing exponentially over the past two weeks. The company lists several gold properties in its public filings but I can’t seem to get any information on them.
More tomorrow…
The BarkerLetter on December 8th 2008 in Commodity investing
brentberry responded on 08 Dec 2008 at 9:26 pm #
Huntgold I am interested in. Years of following GWGO!
PRIZ
Hal responded on 08 Dec 2008 at 10:15 pm #
Ok. You’ve definitely got my attention on this post. I’m going to be tracking with you as you continue this goal.
Sam Jones responded on 08 Dec 2008 at 11:03 pm #
Problem with Hunt Gold is that it’s a fraud. They bought some useless gold rights, issued tons of press releases, and sold shares million by million until the price fell to the lowest of the lows, .0001. They have more available for ya if you want to pay. No shortage. Just don’t count on seeing any gold in this stock. By the way, the market cap numbers are outdated as well.
As far as the Quail Canada thing, in 1999 the British Columbia Securities Commission issued a cease trade order. They never bothered to reinstate it or file updates.
Jerry responded on 09 Dec 2008 at 5:27 am #
Take a look at USPR and their recent 43-101 report. They are currently hiring a major pr firm to get the word out. proven and probable reserves upto 300 million on .01% of their property, only 10 drill holes so far. Study performed in 1999 showed surface samples with a probable reserve on the first 10% of property in the billions at todays prices. The remaining 90% of their land has roads being built for further exploration.
Juk Blank responded on 09 Dec 2008 at 9:54 am #
Been following Hunt for some time now. Bought in at .0005 and all the way down to .0001 Quick DD for you. The financiere and reportdly the puppetmaster behind HGLC has a track record of shady dealings. Igames in south Africa, St james Capital in UK, FFGO in US. HGLC is a spin off from Primtime. If you look at the volume at 3.50 trade it is almost zero volume. Volume picked up in May and increased in July/august in rumors of a buyout at .025 offer, but the company said that the reported buy out amount was not enough. In the past 6 weeks a flurry of PR’s has come from the Company. A tremendous amount of Hunt bashers are haunting the major forumns. I would imagine many of them bought HGLC this summer at .0035. I am strongly of the opinion that Mr. Lumb has swindled something of value…Good Luck and certainly worth a hundy for a million shares.
The BarkerLetter responded on 09 Dec 2008 at 1:29 pm #
Thanks for the heads up, gents. Keep me posted. I’m v. interested in pink sheet mining deals and plan to write about them more often.
Kb
brentberry responded on 09 Dec 2008 at 8:12 pm #
As far as HGLC is concerned you’ve read some down side, right or wrong I see. Definite truth in both it seems. The fact that they have bonded to drill the Mockingbird, and last I checked over the weekend they should be on site today, which is promising to me. The fact that I have talked with the BLM who directly was involved in the process and will be from here on out, is also. A quick $7,260 bill for the bond to drill is cheap to some on pretense of just selling shares, but for me, it tells a thousand words.
Those words are, that this is acting more and more like an exploration Company with players other than just Mr. Lumb, that some or many would like some to believe. The others involved are an integral part going forward as I see it. We who trade the miners will look to the outcome. That will be results from what is found on the many targets available through the Huntgold Corp. label. There are many targets, i.e., Ambassador, Golden Eagle, etc.. A quick peruse of the Website due out real soon (understatement) or PRs of recent and past, may help one define what is in store for the future. (Huntgold Corp, Coming Soon?)
If one gets to hung up on Mr. Lumb, your done, imo. Look for results and realize the risk and assessment, then one can decide if it is for the liking. Even a bad apple can sprout good fruit. Mine hard rock ore.
Added bonuses may include a J/V moving into buying shares at market for investment purposes. A dual listing is being tossed around that may increase demand for that potential risk reward we mine chasers dig! More tradeers chasing fewer shares lets hope!!
With a contrarian point of view I carry, the gold price at some point will reflect a more realistic value, as noted by the significant strength in pricing over last few months percentage loss wise that overall is found in the markets, as of late. Thus, the cheapest Gold Stocks in the World may get the attention that the risk reward has to offer.. Got HGLC?
PRIZ
CLBG responded on 11 Dec 2008 at 4:05 pm #
How about South American Gold & Copper (SAG on TSXV or maybe TSX mainboard)? It has a little production (Chile), and seems to trade volume not too bad, but limited upside. A few hundred bucks worth?