Goliath Nails High-Grade Gold in 24 out of 24 Holes. Stock Declines
Goliath Resources released a home run press release on January 11th, 2022 showing the outstanding results from a 24-hole drill program. The stock went down $.03 on the news. That’s a perfect example of “buy the rumor, sell the news.” Personally when I saw the press release I thought the stock would go up fifty percent. It should have.
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Listing the assay results from twenty-four out of twenty-four holes would get way too boring for both you and me so I have listed the average grades of gold and silver from all twenty-four holes. While those are not the barn burning incredible holes coming from New Found Gold and Eloro and Eskay, $331 rock (US) over 5.87 is bonanza quality.
I have covered the company for almost two years and it has been a giant home run for my readers. In August of 2019 the stock was $.12. In the past two years the stock has been as cheap as $.115 and had a high of $1.62 in July of 2021.
The company has shown they have the goods and more drilling will generate more outstanding results. The stock now has a market cap of about $47 million CAD. It’s going to go a lot higher once investors sober up. The stock has had a perfectly normal 50% correction since the high and is prepared to go much higher now. It looks to me as if they have at least a couple of million ounces using Kentucky Windage. That would make gold in the ground worth about $18 an ounce in USD and it should be 3-5 times higher than that.
Goliath is an advertiser on 321gold and I have bought a fair number of shares at a higher price. I am biased so do your own due diligence.
Goliath Resources Limited