03:08:59 EDT Fri 29 Mar 2024
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Goldsource Mines Inc
Symbol GXS
Shares Issued 126,517,723
Close 2015-08-31 C$ 0.15
Market Cap C$ 18,977,658
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Taylor refreshes Goldsource buy

2015-08-31 22:47 ET - In the News

Jay Taylor, in the Aug. 12, 2015, edition of Gold, Energy & Tech Stocks, refreshes his buy of Goldsource Mines Inc., recently 15.5 cents. Mr. Taylor said buy three times from Feb. 12, 2014, to May 15, 2015, at prices ranging from 19 cents to 22 cents. Assuming a $1,000 investment for each of the three buys, the $3,000 position is now worth $2,295. Goldsource is owned 16 per cent by the fund of Donald Smith, one of the "big boys in New York" (according to Mr. Taylor), who successfully runs the $3-billion Donald Smith Value Fund. Mr. Taylor recently spoke to Mr. Smith at a monthly NYC Junto meeting on markets and investing. Mr. Smith was bullish on Goldsource even though, like most gold stocks, it has been battered by low gold prices. Mr. Taylor says he is bullish too. The company's gold mine in Guyana is under construction and should start production in the fourth quarter, and its management is headed by Scott Drever and Eric Fier, who have done a commendable job at Silvercrest in Mexico. "If this team holds true to form," says Mr. Taylor, "there is no way on God's little green earth that this stock will not sell at least several higher times than its current price," even if gold stays at its current low levels.

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