Been scaling down my position in WAF recently and was looking for a few ASX goldies with deep value to add to my holdings. It looks like GPR may fit the bill!
Bulk tonnage, low cost deposit with a material resource. Fully financed to production. Despite hefty finance terms, the deal is with Sprott who is a useful 'partner' to have in this regard.
Slight jurisdictional risk which is offset by a new quality management team (which in my opinion is most important), who have had extensive experience operating in this jurisdiction. Like Rick Rule I like to take jurisdictional risk over technical risk in a project.
Share churn from old holders and from the recent financing likely coming to an end. Value buyers slowly accumulating..
Quality developers less than 2 years from production are my favourite to invest in, done it multiple times in EMR, ORE:TSX, AOT:TSX, MAI:TSX, Continental Gold, CAI Etc.. and for the most part they have all been profitable leading up to production.
For the cherry on top: the technicals align with a falling wedge....
GPR Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
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