GSP Resource Corp. (TSXV:GSPR) released “excellent” drill results recently, according to Bob Moriarty
Bob Moriarty | January 18, 2021 | SmallCapPower: Copper was going great guns for months to a new four year high. The copper shares shrugged. Now the DSI for copper is 92 and it will correct. That said, there are still some great copper stocks out there. One that I follow and like a lot is named GSP Resource Corp. (TSXV:GSPR). If you like copper I think you have to think about GSP Resource. It owns the Alwin deposit right next to Teck’s Highland Valley Copper mine.
(The following is an article originally published on 321gold.com on January 11, 2021)
GSP Resource just finished a Phase 1 drill program at Alwin and released excellent results on the 23rd of December. I wish someone had told them to never ever release results from the middle of December until at least the 1st week of January. No one pays attention and they didn’t in this case. The share price has hovered around $.31 for two weeks but the numbers from the six-hole program were great.
Hole 1 showed 2.27% copper over 12.1 meters. That is $184 a tonne rock in USD.
In what management considers of more importance, hole 2 showed 0.40% copper over an impressive 39.8 meters. Just as a matter of interest, at the Highland Valley mine just to the east of the Alwin deposit, Teck uses a cutoff grade of 0.10% for ore. Management believes further drilling will reveal a low-grade halo around the higher-grade material. If so that would offer the alternative of having an open pit deposit.
Obviously what the company really wants is to show sufficient grade and tonnage to encourage Teck to buy them out. If they continue to drill similar intercepts near surface, which is probably going to happen. With a market cap of under $5.7 million GSP Resource is cheap and worth buying for that simple reason.
GSPR plans a Phase 2 drill program starting soon and completed a $550,000 private placement in November to pay for it.
Now would be a great time to take some money off the table in the hope of picking up shares cheaper soon. At the very least use the chaos as an opportunity to rearrange what you own.
GSP Resource is an advertiser. I have participated in a private placement in the past and as such that makes me biased.
Do your own due diligence, please.
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