Positive today. More than 2% higher right now.
When you consider what the New Golden Minerals Corporation owns at a valuation of (now) $550 mln, you wonder what is wrong with this market. Forget about the three major projects with proven reserves, Velardena, Zapatecas and el Quevar. They are worth a multiple of that.
Just picking an asset like Atlas, which is in the prolific Argentinean Deseado District, where Goldcorp bought Andean Resources for $3.6 bln because of the Cerro Negro project and where Rob Mc. Ewen has invested heavily in Minera Andes.
Atlas is still unexplored and probably valued at close to zero right now. All we know is this: Epithermal veins up to 10 m wide with up to 10 g/t Au in outcrop samples. I think Golden Minerals hasn't even had the opportunity to invest time and money into this property.
The potential of this company is huge. What they already have in proven reserves is huge. It is being attacked, because it can be done with relatively little money, but when real capital enters the sector, that will all be history at once and those short hedgefunds will be bankrupt the same week. I am looking forward to that moment, because this is so sickening to watch.
