RCKS Talk

17-Apr-2018

GoldQuest Mining Corp.

Written Injunction Received; A Return to the Status Quo

Impact: Positive

GoldQuest has received the written ruling from the injunction announced on March 27, 2018 which suggests a return to the status quo. 

  • Written decision informs company injunction has no effect on activities, reiterates legal requirements
  • Exploration activities including drilling can resume at Cachimbo
  • Final signature for exploitation permit at Romero still required for development work to resume
  • Decision should benefit the share price, returning it to ~$0.30 level from ~$0.20 
Given the decrease in risk resulting from the written decision, we expect the share price to return to its pre-injunction level. The next catalyst for the stock is to obtain the final signature for the exploitation license for Romero. In the meantime, drilling at Cachimbo, should continue to help highlight the project’s exploration potential.

28-Mar-2018

GoldQuest Mining Corp.

Injunction Ceases Activity at Romero; Implications Unclear

Impact: Short-term Negative; Long-term Uncertain

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Following a verbal injunction filed by a group of individuals against the company’s subsidiary, GoldQuest Dominicana SRL, all activities at the wider Tireo Project have been are suspended. Specifics regarding the scope of the injunction are unclear, as the written decision is pending.

  • All activities suspended at Romero and the wider Tireo project
  • Complete details of the injunction are expected next week with the written decision
  • Once details are in-hand, the company plans to take the necessary steps to have the injunction lifted 
 
In our view, today’s ~33% decline in the share price reflects the increased risk associated with this injunction and the uncertainty with respect to its scope. We highlight that at last report, the company had $25.8M in cash (~C$0.10/share) and is funded to weather this challenge. We expect the full details of the injunction when released next week and GoldQuest’s next steps are likely to be the next key catalyst.

 

01-Jan-2018

GoldQuest Mining Corp. (TSXV:GQC)

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