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Taylor refreshes GFG Resources buy

2020-04-24 19:58 ET - In the News

Jay Taylor, in the April 17, 2020, edition of Gold, Energy & Tech Stocks, refreshes his buy of GFG Resources Inc., recently 17.5 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 $1,838. GFG is a gold explorer in Wyoming and Ontario. In Wyoming, it used to have a joint venture with Newcrest at the Rattlesnake gold-copper project, but Newcrest announced this month that it is walking away, after having spent a total of $5-million (U.S.) on the property. Rattlesnake will revert to being 100 per cent owned by GFG. In Ontario, GFG is working on a 3,500-metre drill program at its 100-per-cent-owned Pen gold project, using a reduced work force to limit the risk and spread of COVID-19. Assay labs are still operating in Ontario despite the pandemic, so Mr. Taylor is optimistic that GFG will receive and announce some new drill results shortly. The stock remains a buy.

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