Gold X Shining with Gold

by | Apr 14, 2020 | Investment Ideas | 0 comments

On March 18, 2020, I wrote about Gran Colombia Gold. It was trading for about 1 times cash flow. Well, now that gold is finally becoming popular, there is a bit of panic buying in Gran Colombia Gold.

While studying Gran Colombia Gold, I came across Gold X (GLDX). Gran Colombia owns 30 percent of Gold X. Gold X is a former Sandspring Resources. Watch the following interview with Frank Giustra who talks about it.

Gold X owns a huge (10 million ounce) gold deposit that is extremely valuable with the increasing price of gold. At $1,300 gold, the project does not make much sense, but with $1,700, $1,800 or $2,000, it is worth many multiples the current market cap.

Last week, I was talking with a friend of mine that works for a big investment firm. He told me that he is seeing more and more research reports for institutional investors to buy gold. Finally, it is becoming obvious to the generalists that they need to own gold. That is what is causing the price of gold to increase.

Anyway, Gold X is something that you might want to look at.

Now, it is time for me to try to sell you something. Few years ago, I wrote two books on gold. This was during the time when everybody hated gold. If you are new to the space, then the best thing you can do is to read them. It is a win-win. You learn information that would take you months to learn on your own assuming of course you want to learn about something that you invest in. I get to sell a few copies.

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About Mariusz Skonieczny

Mariusz Skonieczny is the founder of Classic Value Investors.