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Update: Gran Colombia Reports Weak Earnings - Will The Company Go Bankrupt?
- Gran Colombia Gold recently released Q3 2014 earnings.
- The company's all-in sustaining costs, at $1,216 per ounce, remain too high to turn a profit, even though the company was aiming for a figure under $1,100.
- The company had just $514,000 in cash at the end of the quarter with high debt levels; solvency is a huge concern here. A lower gold price certainly doesn't help.
- Gran Colombia Gold announced second quarter 2014 results - revenue of $32.8 million, all-in sustaining costs of $1,203 per ounce and an adjusted net loss of $2.5 million.
- The all-in sustaining costs were higher than I expected, but come from a one-time expense; a lower cash balance makes me more cautious on the company in the short term.
- Gran Colombia Gold remains a speculative buy; I think shares possess huge upside potential and leverage to the gold price.
Gran Colombia Gold Has Turned A Corner: Big Upside Ahead
- Gran Colombia Gold is an undervalued gold miner in the process of a major turnaround.
- The company's cost reduction efforts at its Segovia mine have been successful so far, with AISC dropping to $1,197 in Q1 2014 and further reductions expected.
- Gran Colombia is a high-risk, super high-reward investment; I believe the company offers investors multi-bagger upside potential and huge leverage to the price of gold. .
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Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato... More
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