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GFG Resources Inc
Symbol GFG
Shares Issued 109,207,016
Close 2020-04-02 C$ 0.095
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Taylor refreshes GFG Resources buy

2020-04-02 18:37 ET - In the News

Jay Taylor, in the March 18, 2020, edition of Gold, Energy & Tech Stocks, refreshes his buy of GFG Resources Inc., recently 9.5 cents. Mr. Taylor said buy on May 16, 2019, at 23.5 cents and on Feb. 17, 2020, at 16 cents. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $997. GFG is a gold explorer in Wyoming and Ontario. It is currently drilling its Pen project in Ontario, with highlights such as 2.2 metres of 7.53 grams per tonne gold and 0.5 metre grading 51.8 g/t gold. Meanwhile, at the Rattlesnake project in Wyoming, GFG is waiting for optionee Newcrest to decide whether it still wants to earn a 75-per-cent interest in the project. To do so, Newcrest would need to commit to spending $100-million (U.S.). Given that Rattlesnake turned up disappointingly low-grade results in January, investors are not at all sure whether Newcrest will hang around. The major requested in February that its deadline to make the decision be extended to May 1. Mr. Taylor admits that Rattlesnake has taken a painful bite out of GFG's stock. Even so, with drill results from Pen coming in and a potentially positive decision from Newcrest on the horizon, he has no desire to sell. GFG is staying on the buy list.

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