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- Golden Queen Mining's Q2 Earnings reflect progress towards production at Soledad Mountain including site preparation and construction of the workshop and warehouse.
- This development demonstrates that my investment thesis regarding Soledad Mountain's near-term production is progressing.
- The stock and the gold market are both flat in the 6 weeks since my last article, which means that there is still opportunity in Golden Queen shares.
- Recently Golden Queen Mining gave up half of its position in the Soledad Mountain Project to a JV partner.
- While this is, in effect, dilutive, it also solves the company's financing problem without issuing any more shares.
- The company should benefit having a well-capitalized partner in Leucadia National, and there is a very strong probability that the mine will go into production on schedule.
- Despite this pseudo-dilution, and despite the strong performance of Golden Queen shares year to date the stock still has some upside potential at the current gold price.