Golconda Gold
Financials:
Primary ticker: TSXV:GG, OTCQB:GGGOF
Stage of development: Development, Production
Primary minerals: Gold, Silver
Project to promote: Summit and Banner Mill
Project location: South Africa, America
Website: www.golcondagold.com
Golconda Gold is an unhedged gold producer and explorer with mining operations and exploration tenements in South Africa and the United States of America. We are committed to operating at world-class standards, focused on the safety of our employees, respecting the environment, and contributing to the communities in which we operate.
Cash: USD$1M
Debt: USD$4M
Major shareholders:
Management and Insiders – 48%
Widely Held – 52%
Management Profile
Nicholas Brodie – CEO
A mining executive with over 25 years of experience within increasingly senior roles. Joined Golconda Gold in October 2012 as the CFO and was promoted to CEO in November 2014. Under his stewardship Golconda transitioned its then main asset Mupane from a short life, high cost open pit mine to a long life, low cost underground operation. This operation has since been sold.
Restarted the Galaxy operation in South Africa and implemented a plan to take production to over 40,000 ounces per annum. Acquired the Summit and Banner Mill in New Mexico with a plan to bring it back into production in the short term.
He was previously the CFO of Katanga Mining (DRC), an advisor at Metallon Gold (Zimbabwe), CFO of Copperbelt Energy Corporation (Zambia) and Head of Finance at Total SA. A Fellow member of the Chartered Certified Accountants and a B.Sc (Hons) Geography.
What is your rationale for taking part in 121 Mining Investment?
Looking to discuss financing opportunities and promote Golconda
What recent news would you like to highlight to investors attending?
Increasing production at Galaxy and an updated PEA for Summit.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Continue to increase production at Galaxy
6 Months:
Raise funds to restart Summit. Complete Phase 1 of the Galaxy development plan.
12 Months:
Restart Summit
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Completing the expansion program at Galaxy. Restarting Summit.
What do you think makes your company such a compelling investment?
Tripling production over the next two years, reducing operating costs and adding shareholder value.
What are the top 3 key investor takeaways?
Producer, positive cash flows and a strong management team