Bob from Waterdown Ontario writes about V.GGY:

Is it worth my financial time to load up on this baby. Do you think it will ever come to life. I’ve never been to a casino, so that money saved will be used for a dice roll in small cap investment.
Thanks

Bob

Hi Bob,

The one thing I have learned over the course of a lifetime is that its always much more fun making money than losing it! When I look at the chart for Goldeye Explorations Limited the best thing to say about it is that at least it has stopped going down!

But that’s not generally a good reason to buy a stock. The risk profile is very high given that its a penny stock and in this case we are talking single digits. Today there were 345,000 shares traded for a total value of $12,075.

The company had $77,000 in cash on the books as of December 31, 2008 and hasn’t generated a cent in revenue for some time. They recently signed a letter of intent to sell their interest in their properties in the James Bay Lowlands to Tribute Minerals Inc. ( TBM TSXV) for shares and $115,000  in cash.

If you really want to load up on this one you’ll have to spend a good deal of time looking at all of their properties and exploration programs to see if its worth any further investigation. For my money its not doing anything that would get me to hit the buy button.

Happy Capitalism!