GGCO | The Ghana Gold Rush – Is The Risk Rewardable?

GGCO stock, PINK GGCO, OTC GGCO, Ghana Gold Corp., The gold rush of early 2012 ended real quick when the troy ounce failed to reach the $2,000 level that many analysts were predicting. Gold stocks saw their prices trade bearishly for most of 2012 with little hope of a bull rally. The same can not be said for Ghana Gold Corp. (PINK: GGCO) which went cow tipping Monday to nearly doubling its share price. If GGCO stock was still in the teens it might be a great penny stock to watch on Tuesday. But, with the way the stock price was adjusted on Monday, this looks like it has the Ghana Gold curse attached to it for newbies.

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Market Cap: 42.02M
Last: 0.21 0.09 (75.00%)
Volume: 649,566
Dollar Volume: $98,668
Open: 0.12
High: 0.21
Low: 0.12
Trades: 76
Authorized: 250,000,000
Issued and Outstanding: 200,098,000

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While the most recent financial data for Ghana Gold Corp. is a few months old, impressively, revenues are both existent and noticeable. Sale for the six months ended September 30, 2012 were nearly $1 million ($987,640) with a gross margin of $108,184. What’s weird is that total operating expenses were only $345,682, extremely low for a Company involved in gold exploration and development.

What looks sexier than some best red carpet appearances from the Golden Globes is that the Company had $15.70 million in assets versus just $349,198 in total liabilities as of September 30, 2012. Wrap those numbers up in some butter and pour them on a lobster dinner. Appointing Robert Kirkcaldy as the Company’s new President and COO and announcing it one hour into the Monday trading session is where the juice came to throw GGCO stock into the 20’s.

Ghana Gold has apparently focused much of its exploration and acquisitions on the well-mineralized Ashanti Gold Belt which has long been hailed as one of the world’s major sources of gold and one of the main targets for pump and dumps like North Springs Resources (NSRS) and Discovery Gold Corp. (DCGD). While the risk-reward looks appetizing on a fresh ticker like GGCO stock, the Monday PPS change simply pushed the bar too high for many to be punch drunk with love.

About GGCO Stock

Ghana Gold Corp., fka National Pharmaceuticals Corp. (NFRM), fka Medical Institutional Services Corp. (MISJ), is involved in gold mining. Click here to view the most recent financial filing for GGCO via OTCMarkets, here to view their website.

Last 5 Trading Sessions:

Date Last Change % Change Volume
01/14/13 0.2100 +0.0900 +75.00% 649,566
01/11/13 0.1200 +0.0200 +20.00% 15,000
01/10/13 0.1000 -0.0500 -33.33% 19,000
12/19/12 0.1500 -0.1200 -44.44% 42,100
12/18/12 0.2700 -1.2300 -82.00% 14,300


Bottom Line: CCGO is on the list of promoted penny stocks for Tuesday and looks a bit risky at 0.21. Gimme GGCO stock at 0.021 and I can be bullish on it all day with the numbers they report form that quiet little subdivision in Port St. Lucie, but at its current level, I have only 10% as much confidence.

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