Apr 5th 2012, 16:35 GMC Gold Mountain Capital
by Legolas Delgado
The week that was 3/26 – 4/1 - GMC
The week that was 3/26 – 4/1 - GMCGMC Holdings:
Cash – L$ 126,316.18
BDVR –285,094 @ 0.13 – L$ 37,062.22 (90)
BOTS – 78,671 @ 1.4846 – L$ 116,794.97 (90)
EARN – 7,000 @ 2.9264 – L$ 20,484.80
GDI – 798 @ 4.2834– L$ 3,418.15 (90)
GVC – 58,187 @ 5.964 – L$ 347,027.27 (90)
SEC – 350,717 @ 1.7679 – L$ 620,032.58(90)
VGW – 100,000 @ 1.0286– L$ 102,860.00 (90)
GMC – 237,853 @ 0.0 – L$ 000,000.00
Total – L$ 1, 373,996.17
Last Week Capitalization – L$ 1,285,554.00
Increase/Decrease = L$ 88,442.17
% Increase/Decrease = 6.88%
Starting Capitalization – L$ 960,100.00
Increase/Decrease = L$ 413,896.17
% Increase/Decrease = 43.11%
90 Day Average Price (90)
The deal to trade GMC shares for GVC and EARN shares was finalized this week. The net assets of GMC went up by over 88,441.17. Much of that had to with using treasury shares to purchase the GVC and EARN shares. This also increased the liability side and was effectively cost neutral because the overall NAV remained about the same. CAPX was completely liquated to take profits. Some of BDVR was sold off at L$0.13.
EARN and GVC were bought above their current 90 day moving average, this means the pace at which the fund moves to .37 and .38 has been slowed. But at GVC moves towards the L$9.00 range, the fund stands to gain L$ 176,665.73. If all else remained equal and no dividends were issued by other companies, in 60 days GMC would be worth over L$0.40 a share. But of course other stocks are in flux and dividends will continue to be issued. It is hard to tell exactly when, but it is clear to see that the NAV per share price of GMC is going to continue to move up towards L$0.40 in the near term.