Travel Dispatch: Goldgroup Mining’s Caballo Blanco Project by “Ranting Andy” Hoffman

“Ranting Andy” Hoffman visited Goldgroup Mining’s (TSX: GGA and OTC Other: GGAZF) flagship Caballo Blanco gold project in Veracruz Mexico this past weekend and posted this comprehensive travel dispatch from the fields of Eastern Mexico. We have indluded a brief excerpt from the report with a link to the full text below:

  “Goldgroup’s current cash balance is $33 million, which should fund the majority of Caballo Blanco’s 2012 capital expenditures, with the remaining balance to be secured via a debt financing if the stock price is not conducive to further equity offerings. By 2013, the Company should be generating strong cash flows from Cerro Colorado and Caballo Blanco, and presumably will be in a favorable position regarding financing alternatives for San José’s expected $40‐$60 million of capital expenditures. Caballo Blanco should vault Goldgroup to the 100,000 ounce/year production club in 2013, and San José de Gracia to the far more exclusive 200,000 ounce/year club in 2014, with capex and opex for both projects well below industry averages.

Favorable project traits, a strong management team, a solid balance sheet, and a favorable mining jurisdiction yield advantages that should enable Goldgroup to be a highly successful, and valuable, gold miner in 2012 and beyond.”

Link to Full Report


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