Go Gold is led by the team who built Gammon Gold in Mexico and the stock price has remained relatively strong during the bear market, recently obtaining $35m financing from Orion Mine Finance (formerly part of Red Kite) - although other companies in that list may make you doubt where the smart money is.
Go Gold previously acquired a significant tailings project, Parral, which reports a low capex and high IRR , on which the Orion financing was based, and a large Mexican exploration land package.
Animas was a newsletter write favourite as it launched in 2008 tumbled into the crash and rebounded through to the end of 2010, crashing precisely at the start of 2011, well ahead of the price of gold, like so many venture companies as insiders exited and took profits. Somehow the venture index managed to keep running higher into March 2011. The Santa Gertrudis district has past producing mines and the newsletter story was around the prospectivity under a former Newmont geologist. Go Gold perhaps believe there is near term low capex production potential which might be a better use of the tailings income stream than a large district exploration programme. A nice 400-500% returns for recent buyers, but the charts show that to be very few stockholders.
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