Interview with Simon C. Dyakowski, President and CEO of GSP Resource Corp. (TSX-V:GSPR).
There are some small signs of promise with this story, but the company needs to work harder to tell the story to allow investors to make investment decisions. We will watch this space.
GSP Resource Corporation is a recently listed venture-stage precious and base metals exploration vehicle. GSP Resource Corp.'s primary focus is on extracting the potential of the Olivine Mountain Massive Sulphides target in Southwestern British Columbia. The Olivine Mountain project is located in The Tulameen ultramafic complex.
GSP Resource Corp. started the year with a share price of CA$0.26 and rose to a peak of CA$0.42 in late November 2019 before settling to today's price of CA$0.24. The company has a modest market cap of CA$1.67M.
The management team has a mixed bag of experience. Dyakowski Jr has over ten years of corporate finance, corporate development, and capital markets advisory experience. His professional experience is rooted in equity research and equity sales coverage roles rather geology. This lack of specific experience may be problematic for some investors, despite Chairman, and father, Christopher I. Dyakowski's over 35 years of mineral exploration experience. The remainder of the team has vast business and financial experience, but once again, over reliant on Dyakowski Sr's availability and expertise..
GSP Resource Corp. is pushing its unexplored asset as the incentive to invest. Investors have been buying into promising mineralisation results from preliminary drilling demonstrating copper and silver opportunities, but we are unsure as to the focus of the company; with the preliminary drilling programme, Asp 14, demonstrating contents of copper, gold and palladium and anomalous contents of platinum, nickel and cobalt, where does GSP's central focus lie? Investors need to see this for what it is, which is a small punt on a very early stage exploration project. Dyakowski states the company has a clear primary focus on copper, with the potential for nickel and PGMs. He pushes the quality of the asset as a unique opportunity to get involved with a rarely untapped resource: who knows what could lurk beneath in such a prestigious region? And that is what some investors will buy in to. Do you?
Dyakowski Jr pays himself around CA$3,000 worth of shares per month. All partners have invested their own money to obtain their stake, and until value has been added for investors, the salary situation will remain unchanged we are told. The burn rate is c. CA$15,000 per month, again a low number, but there is not much happening at the moment. Drilling is funded from private placements, one of which was recently completed. Dyakowski Jr plans to continue moving the asset forward towards eventual production. That is some way off and a lot of dilution, drilling and luck between now and then.
One last sign of encouragement is the hold situation for director's shares: it stands at an uncommon 36 months! The message is clear: if you climb about the GSP ship, the company directors won't have lifeboats either. They are all in.
What did you make of Simon C. Dyakowski? Is GSP Resource Corp. any different to other junior copper companies? Are they focussed enough? Do they really know what they are doing? Comment below and we may just ask your questions in the near future.
- Company Overview
- What Do They Have and What are People Buying into?
- Company Financials: Remuneration, Cash Put in and How They are Paying Their Expenses
- The Focus: What are They Looking For?
- The Types of Investor That Would Invest in GSP Resource Corp.
- Team Experience: How Committed are They?
- Strategy and Business Plan
Company page: https://gspresource.com/
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