Glass Earth Limited: Update

Glass Earth Limited trades, as GEL on the TSX is a gold explorer in New Zealand. Despite recent good news the volume has all but dried up with only 73000 shares traded yesterday and some days have registered no trades.

This company has managed to raise another $10 million New Zealand and has a good story with some exciting prospects in New Zealand.

They have 15 advanced gold prospects in the Hauraki Region, which is the home of the world-class epithermal gold deposit at the Martha Hill gold mine.

They also have 17 recently defined gold targets in the Mamaku-Muirs Region, which includes the Muirs Reef prospect, where more than 43,000 ounces of gold have been mined.

Glass Earth has defined another 74 epithermal gold targets including 6 advanced drill-ready prospects.

This company offers a cheap entry into the New Zealand market, which from a geopolitical standpoint is a lot more accommodating than some other counties.
The question is when to invest? The answer is that we would like to invest now but the volume reflects such a lack of interest causing the stock price to slip. We first wrote about it when it was $0.20 it is now $0.13, a drop we predicted.

Again gold-prices will continue to watch this stock as it is an ‘outsider’ but comes with exciting prospects in an area historically rich in minerals.

14 November 2006