I last wrote on Canadian domiciled gold miner Gran Colombia (OTC:TPRFD) in February of this year and concluded that while the company was under-valued by 56% it constituted a high risk speculative investment. Since that time the value of gold has fallen precipitously to be down by 19% to be $1,283.95 per ounce at the time of writing. This significant drop in the gold price is contrary to the bullish forecasts of many analysts and has had a significant impact on the profitability of micro and small-cap gold miners. The reason for this significant impact is the high operating and production costs of smaller gold miners such as Gran Colombia.
Investment case summary
Since that article Gran...
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