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The Company is a mid-tier mining company which is also engaged in the exploration for and development of gold and silver deposits in Mexico.
Gammon Gold's stock was punished recently from $10 down to $6 because their last quarter showed costs per ounce had risen. During the present market chaos, though, the company has come out with 2 compelling updates, one indicating that production is now finally starting to rise as anticipated, and that costs are on their way down of late. In a normal trading environment, these 2 updates would have brought GRS back to $10, so I believe the present price at just over $6 to be ridiculously oversold. Gammon has a laughably small market cap of $732 Million as compared with over $4.7 Billion in Proven and Probable reserves of gold and silver between its 2 properties. Adding Measured and Indicated resources gives a total reserve value at today's prices of over $10 Billion, or more than 14 times the current market cap. This is a long-term bet I'm willing to take!
hope you are still hanging to your long term debt.this company is nothing but a fraudulent organization that is eating away at millions of investors money. you thought 6 is ridiculously oversold????????? how about 2.50??? you should be loading up on it by hoarding more of this dead end stock.
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