Gold Road Resources (ASX: GOR)
Notes media speculation in The Australian regarding the potential acquisition of an interest in the Greenstone Gold Mines in Canada.
Gold Road confirms its participation in a sale process conducted by Orion Resource
Partners (USA) LP for Greenstone Gold Mines.
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| Gold Road | ASX : GOR |
| Stage | Production (50% JV) |
| Metals | Gold |
| Market cap | A$1.84 Billion @ A$1.70 |
| Location | Laverton, Western Australia |
Comment
This company never ceases to amaze me.
Every time the share price starts to rise, they make an announcement to drag it back down again!
Operational difficulties and severe weather events are, of course, part of the natural risks involved in investing in mining companies, but why oh why do they see the need to cross the planet to invest in a project, when in Western Australia, and the cuountry as a whole, there are an abundance of gold projects?
The market clearly doesn’t like this news any more than I do, and I can understand why.
Gold Road Resources Response to Media Speculation
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Gold Road Resources Limited (ASX; GOR) (Gold Road or the Company) notes media speculation in The Australian regarding the potential acquisition of an interest in the Greenstone Gold Mines in Canada.
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Gold Road confirms its participation in a sale process conducted by Orion Resource
Partners (USA) LP for Greenstone Gold Mines.
This participation remains on going and Gold Road has not entered into any definitive acquisition agreements with respect to Greenstone Gold Mines.
Gold Road continues to evaluate strategic opportunities and will only pursue acquisitions if it is in the best interests of its shareholders.
The Company will keep the market informed in accordance with its continuous disclosure obligations.
This release was authorised by the Managing Director and CEO, Duncan Gibbs.
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To read the full news release, please click HERE
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Live spot metal prices can be found HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Gold Road Resources
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