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Our New Pick is GOFF Good Morning Everyone, GOFF is showing continued strength this morning with a gain of over 7% in early trading. We expect GOFF to break the 50 cents area very soon if not today and start surging much higher and faster in the coming days. As we mentioned during the weekend, shares are getting scooped up left and right by investors looking to be part of the upcoming boom in Colombian gold. As shares get more scarce, the price of GOFF increases more rapidly and we believe this will continue in the near term.
With a target of $2 to $4 from analysts, anything below $1 could be a bargain. In fact, GOFF could start seeing massive jump of 20%-30% per day at this rate! As we mentioned during the weekend, there are 3 main reasons why GOFF is about to continue to rally in the upcoming days and weeks: 1) When mining stocks are on a rally they tend to run for weeks and months. Perfect examples are BTO, CNL on the TSX which both saw epic rally of 900% and 400% respectively. Even our last mining pick saw gains of over 400%. GOFF is definitely showing no sign of slowing down. 2) GOFF could be very undervalued right now when compared to some of its competitors in the industry: B2Gold Corp (TSX:BTO) - Current market cap: 1.23B. Continental Gold Limited (TSX:CNL) - Current market cap: 761M. AngloGold Ashanti Ltd. (NYSE:AU) - Current market cap:910B. Goff Corp. (OTCBB:GOFF) - Current market cap: 123M. It is very possible that the buying pressure that we are witnessing are from smart investors and institutions that see GOFF as an undervalued play when compared to other mining companies that have properties in Colombia. 3) Investors are loading up in anticipation of a positive report that would show strong potential reserve numbers from the La Frontera Property. The company already hinted on Friday that its property could have similar attributes to the Marmato Mountain which holds over $22 billion dollar in potential gold.
In our opinion, this could be a great time to accumulate shares before GOFF double or more in the near term.
Your PennyStockInsiders Editor |