At the recent New Orleans Investment Conference I was introduced to Coral Gold Resources (TSX.V:CLH & OTCQX:CLHRF). We all know the President and CEO David Wolfin very well as he is the one running the show over at Avino Silver and Gold Mines, a Company discussed on this site with Chris Temple and Byron King.
Coral Gold caught my attention for a couple reasons outlined below…
- Recently sold it’s Robertson Property in Lander County, Nevada to Barrick for a sliding scale royalty between 1-2.25%.
- Received a cash payment of US$15.75 million on the sale. With most of that money still in the bank the Company’s market cap is less than it’s cash in the bank.
- Currently buying back shares and has less than 50 million shares outstanding.
- Exploration upside with 3 properties that have very little to no prior exploration.
I am completing my DD before investing but if anyone has any questions or comments on the Company please comment below or email me at Fleck@kereport.com.
Click here to visit the Coral Gold website for more information.
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