Author Topic: GCM.TO - Gran Colombia Gold Corp  (Read 19844 times)

influx

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SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #11 on: September 19, 2016, 06:03:58 AM »
Thanks.

Labour relations are definitely a risk. GCM relies on contract miners but they are also trying to convert illegal miners into legitimate miners and they have had some success so far.

In every company, I have ever owned that has had a strike, it has always ended. This could have a short term impact but it's not an impairment, in my view.

ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N

influx

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #12 on: September 19, 2016, 07:15:54 AM »
Probably :)

I hear good news generally from Colombia lately..so I guess it will be well for you

What kind of capital gain are you happy with, in gross numbers with this?

SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #13 on: September 19, 2016, 07:30:04 AM »
I'm usually just happy making money versus losing it!

In this case, I own all the different parts of the capital structure and have made some decent gains already on the debentures but I still think 100% upside from here is not unreasonable.
ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N

SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #14 on: October 19, 2016, 04:05:07 AM »
Despite some labour issues during the quarter, GCM continues to impress on the production front.

YTD production is now 108k oz and full year guidance maintains at 135-145k oz.

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2016/Gran-Colombia-Gold-Provides-Production-Update-and-Details-for-the-Third-Quarter-2016-Results-Webcast/default.aspx

The most recent presentation highlights the valuation discrepancy between GCM and its peers.

http://www.grancolombiagold.com/news-and-investors/events-and-presentations/presentations/default.aspx



ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N

SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #15 on: November 17, 2016, 04:48:47 PM »
Another good quarter reported this week with production guidance raised and cost guidance narrowed.

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2016/Gran-Colombia-Gold-Announces-Third-Quarter-and-First-Nine-Months-2016-Results-Expecting-Over-144000-Ounces-of-Annual-Gold-Production-for-2016-at-an-AISC-Below-850-per-Ounce/default.aspx

Still trading well below 3x EBITDA even at these lower gold prices.

I now own some common as well as the senior debt.
ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N

SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #16 on: January 12, 2017, 03:36:58 AM »
Spectacular monthly production number in a December and a very large beat of full year guidance. With gold starting to lift again, it's possible some value investors might look at gold stocks and at less than 2.5x EV/EBITDA, GCM might get some attention.

http://www.grancolombiagold.com/news-and-investors/press-releases/press-release-details/2017/Gran-Colombia-Gold-Surpasses-Guidance-and-Sets-Record-in-2016-With-149687-Ounces-of-Gold-Produced/default.aspx
ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N

rukawa

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #17 on: January 28, 2017, 06:30:40 PM »
I don't really understand why the GCM.DB.U aren't considered the most attractive security here.  They have the highest yield to maturity, same conversion price as the .V and highest yield to maturity. Plus the maturity date is earlier and they have a smaller principal so easier to payoff.

SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #18 on: January 28, 2017, 11:28:12 PM »
The Us are 81% mandatory convertible so the effective "par value" of the bonds at current stock price is about 69. Still much better than the stock because the downside is less with the 19% payable in cash while still the same upside as the stock.
ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N

SafetyinNumbers

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Re: GCM.TO - Gran Colombia Gold Corp
« Reply #19 on: February 11, 2017, 01:31:38 PM »
Decent sized insider buying of GCM.DB.V by one of the executive chairmen.

The equivalent of 7.6m shares.

https://www.canadianinsider.com/company?menu_tickersearch=GCM%20%7C%20Gran%20Colombia%20Gold
ELF IAM GCM.DB.U/DB.V/DB.X PIF C.N