Taylor refreshes buy of Golden Hope

2012-02-29 15:41 ET - In the News
Shares issued 130,835,835
GNH Close 2012-02-28 C$ 0.30

Jay Taylor, in the Feb. 17, 2012, edition of Gold, Energy & Tech Stocks, refreshes his buy of Golden Hope Mines Ltd., recently 27 cents. Mr. Taylor said buy on Aug. 16, 2010, at 58 cents and again on Dec. 16, 2011, at 12 cents. Assuming a $1,000 investment for each buy, the $2,000 investment is now worth $2,715. Golden Hope has drilled 6,140 g/t gold over one metre at its Bellechasse property near Quebec City. Mr. Taylor explains outlying grades such as this one may create statistical problems for a company working on a resource estimate; samples from the next hole may turn up nothing, making averaging difficult. Currently the average grade at Bellechasse is two g/t or potentially three g/t. Now, Golden Hope is testing the possiblity that the spectacular assay above comes from a feeder zone; it has drilled two wedge holes and sent samples to the lab. Mr. Taylor says he continues to believe in the multimillion-ounce potential of Bellechasse. He eagerly awaits the wedge drill results. In the meantime, he is pleased because the company has finally given him a good reason to hold on to the stock. He admits he became impatient last year when Golden Hope was falling, and there was no exciting news.