Investing

Worst Corporate Press Release Of The Day: Gammon Gold (GRS)

Gammon Gold (GRS) is a Canadian-based gold mining company. Like many firms in the metals exploration industry, it likes to put our cryptic press releases on progress at its drilling sites. These releases always mean the same thing, no matter…

By Douglas A. McIntyre
Published November 6, 2008, 7:08pm ET · 1 min read

R218533_855025_2Gammon Gold (GRS) is a Canadian-based gold mining company. Like many firms in the metals exploration industry, it likes to put our cryptic press releases on progress at its drilling sites.

These releases always mean the same thing, no matter how they are worded–"We are looking hard, but we have not found anything yet."

From Gammon’s release today on its Guadalupe y Calvo exploration property located in Chihuahua State, Mexico:

"We continue to receive positive drill assay results that confirm the gold-silver potential of the Guadalupe y Calvo property. Drill results received to date indicate the potential for an underground mine below the previously identified open pit area where a significant number of high grade gold and silver intercepts have been received" stated Peter Drobeck, Senior Vice President of Exploration and Business Development of Gammon Gold. Mr. Drobeck continued, "Based on the positive results to date, we will continue to accelerate the engineering evaluation of this property with the completion of a Scoping Study that is expected during Q1, 2009. The Scoping Study will focus primarily on the open pit target and could provide the basis for moving directly to Feasibility Study levels to accelerate the operational development of this asset."

Well said…

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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