Gran Colombia plans to produce up to 220,000 ounces this year

Gran Colombia Gold Corp. \[GCM-TSX; TPRFF-OTCQX\] is a growth-oriented mining company that is 100% owner of one of the highest grade gold mines in the world. Gran Colombia's Segovia operation in northwest Colombia, which has been in production for over a century, is well on its way to producing up to 220,000 ounces of gold this year. In 2020, the average ore grade at Segovia is 14.5 g / t gold. In an interview with Resource World, the company's Executive Chairman Serafino Iacono said he believes Gran Colombia is grossly undervalued and investors doing their due diligence will find that its market cap should be much higher. On April 30, 2021, Gran Colombia's shares were trading at $ 5.14 over a 52-week range of $ 8.40 and $ 5.12, giving the company a market capitalization of $ 316.62 million, based on 61.6 million outstanding shares. Iacono's view is based on recent successes, including deleveraging and the fact that Gran Colombia recently tripled its dividend to $ 0.18 a share. Fitch Ratings has upgraded the company to B + Stable. "We're leaner, meaner and we're producing gold the right way," he said during the interview from Bogota, Colombia. He said the company plans to increase production to around 700,000 ounces over the next five years. It's worth noting that Colombia is an OECD member country with a growing economy and one of the lowest inflation rates in Latin America. Gran Colombia is involved in environmental, social and corporate governance (ESG) programs that include agreements with artisanal miners and funding for education and community programs. The Segovia operation is the flagship of Gran Colombia and the company is committed to expanding and creating a new Latin American growth platform through the acquisition of the Toroparu gold project in Guyana. Gran Colombia recently acquired all of the issued and outstanding common shares of Gold X Mining Corp. \[GLDX-TSXV\], which the company did not already own, for a total of $ 315 million. According to a preliminary economic assessment announced in July 2019, Toroparu is expected to produce 4.5 million ounces of gold over a mine life of 24 years. Annual production during this period would range from 330,000 to 102,000 ounces last year.