This year is becoming a busy year Golden State Mining Co., Ltd. [ASX:GSM]..
GSM’s share price rose 13.79% to 16.5 cents per share at the time of writing, thanks to the release of the Quarterly Activity Report.
Despite a fall in stock prices in the second half of last year, the GSM situation could improve and explorers outline a series of work towards the New Year.
And with so much money stored, it looks like a lot of trouble.
December quarter sets the scene for 2021
GSM today released quarterly activity and cash flow reports, which caused considerable excitement.
Not only does GSM appear to be funded in the next four quarters, but it also has a rich list of planned work.
In fact, GSM has announced a range of work that could keep them busy over the next 12 months.
And extensive work could bring stock prices back to their June 2020 highs.
Last year, GSM completed Phase 2 of its reconnaissance training program at the Yule Project in Western Australia.
Obviously: What’s Next for Australia’s Gold Stock Price? learn more.
The excavation identified two target areas in Yule South and four target areas in Yule North. Further excavation is scheduled to begin in March.
Aerial magnetic data helped identify a number of intrusion-style targets in Yule East, but are scheduled to be drilled in the second quarter of this year.
GSM has also secured a new exploration license and extended its holdings in the Eurnorth region.
Drilling is expected to begin again in the second quarter.
GSM also launched mining activities on the Cue project during the quarter at the Salisbury and Cue No. 1 mines.
The operation is for the processing of the remaining mine tail ore and will be carried out by Adaman Resources Pty Ltd, whose profits will be split at 50:50.
Where is GSM’s stock price going?
It is difficult to pinpoint the cause of the surge in GSM stock prices in early July 2020.
Perhaps it was just a psychological effect — investors saw others stacking up and following.
This could make 2021 a better year for GSM shareholders.
Now that you understand what GSM offers from an asset perspective, you can more accurately assess its potential.
In my opinion, GSM is a company to add to the watchlist this year as it has given concrete results to back it up.
And with so much work going on this year, I think we can properly consider what’s under the tenement house.
GSM’s share price could rise further in the coming months and years as Australia prepares to surpass China, the world’s gold capital. In her latest report, gold expert Shae Russell analyzes the implications of Australia becoming a new gold “earthquake” for gold and Australian gold stocks. Click here to download the free report.
for Daily Reckoning Australia
Golden State Mining Shares Rise in 2021 Outlook
https://www.dailyreckoning.com.au/golden-state-mining-share-price-pushes-higher-on-2021-outlook/2021/01/29/ Golden State Mining Shares Rise in 2021 Outlook