Is the Greatland Gold share price, up 600%, a millionaire-maker?

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See all posts by Tom Rodgers “This Stock Could Be Like Buying Amazon in 1997” The Greatland Gold share price (LSE:GGP) is up 629% in the last six months. Is it a bubble, or a treasure still waiting to be discovered?Consider this. Western Australia is packed with high-grade gold, and UK AIM-listed Greatland Gold is all over it.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Greatland picked up the rights to the Haveiron project in 2016 in a cash and shares deal. It was worth A$750,000 to the seller, private Melbourne firm Pacific Trends Resources. And the Greatland Gold share price has boomed in recent months on repeatedly good drill results.High-grade profitWith gold prices at all time highs above $1,700/oz, selling into this market is definitely a money-maker.And if you’re dabbling in gold mining shares, you need to understand some basics. First, the higher the percentage of precious metal found in rock, the more economical it is to mine. Higher-grade equals more potential profit. Gold is measured in grams per ton (g/t) and copper as a percentage of rock composition.“Analytical results released today from the Haveiron project are considered outstanding,” said CEO Gervaise Heddle , “and include 109m @6.3g/t gold and 0.71% copper from 668m.”Heddle certainly isn’t shy about throwing around positive language. These results are “truly spectacular“, he told the market this week. And I must admit, the numbers do look good on paper.Drilling intercepted one short section of around four metres showing very high-grade metals include one section at 76g/t gold and 1.2% copper.The addition of a large farm-in partner is encouraging. The ASX-listed A$24.2bn market cap Newcrest Mining is one of the world’s biggest gold mining companies. It also has existing resources 30 miles down the road from Haveiron, at its economical gold and copper Telfer mines.Greatland Gold share price issuesThe Greatland Gold share price is much discussed on Twitter. It also commands a fervent, cult-like bulletin-board following. These facts alone would usually mean I steer well clear. If the figurative ‘bloke down the pub’ is urging you to buy, I normally run in the opposite direction. Not that pubs are open. But you get what I mean.The Greatland Gold share price could continue to rise on momentum and news buzz alone. But can its potential be turned into real cash?The history of the FTSE is littered with the bones of trendy hype stocks. High upfront cost-intensive mining shares represent a large proportion of these. And the gold price continuing to break records? By no means guaranteed. From 2011 to 2018 gold lost 34% of its value against the dollar.It’s not unusual for gold miners to spend a vast amount of cash without ever making money.Take Eurasia Mining, for example. I covered this AIM-listed minnow in November 2019. Buying back then means you would have tripled your stake by now. But like the £426m market cap Greatland Gold, it too has not turned a profit. Yet.So if you know your stuff, sure, the Greatland Gold share price looks like a great story. If you can’t tell one end of a shovel from the other, I would be wary and would look to make my million elsewhere. Image source: Getty Images. Our 6 ‘Best Buys Now’ Sharescenter_img Is the Greatland Gold share price, up 600%, a millionaire-maker? Tom Rodgers has no position in the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Tom Rodgers | Friday, 12th June, 2020 | More on: GGP I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Enter Your Email Addresslast_img

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