Gold and GemStone Mining Inc (OTCMKTS: GGSM) Heating Up as Co Reports Growing Revenues While Accumulation Continues – MicroCap Daily
Gold and GemStone Mining Inc (OTCMKTS: GGSM) is moving steadily northbound in recent trading as heavy accumulation continues. Currently trading in the low double zeroes GGSM is doing big numbers and is virtually debt free while trading at a tiny $2.1 million market valuation. According to the 10Q filed today the Company has over $3.9 million in the treasury, $6 million in assets and $185k in total liabilities. For the 3 months ended July 31, 2022 GGSM reported $868,018 net income on $2.42 million in revenues for the quarter. These represent spectacular numbers especially for the OTC.
While operating as the #1 surf specialist in the Mentawai Islands Indonesia where the Company owns a growing fleet of boats, GGSM is also building 2 resorts in the Mentawai Islands; the Seven Palms Resort, and Nasara Resort. Also, GGSM recently acquired a new acquired luxury vessel Maki as part of its growth strategy through acquisitions to increase service capabilities in the Mentawai Islands. In addition to Maki, the Company is evaluating acquisitions to increase ultimate charter vessels in its fleet and new attractive chartering Packages to major islands in the Mentawai Islands.
Gold and GemStone Mining Inc (OTCMKTS: GGSM) is a publicly-traded company engaged in the charter boat business in the Mentawai Islands and Beyond. The Kuda Laut’s charter vessel is a Mentawai Surf Charter vessel to the World-Famous Mentawai Islands. The Kuda Laut has been chartering to the Mentawai, Telos, Nias, and Banyak Islands for over 25 seasons. From the Lagundri Bay in Nias, the Hinakos, the Bay of Plenty in the Banyaks, the Telos long rights, and the famous waves in the Mentawai, such as Rifles. No Kandui, Ebay, etc., in the Playground, to telescopes, Bintang, Lances Right.
GGSM recent reported record revenues and net income and according to management GGSM anticipates further growth ahead with the world reopening as travelers chase the full excitement/exhilaration of the charter services and leisure boating vacation experience, immersing themselves in warm-weather remote uncrowded activities to beaches and marine and high-quality surfing. GGSM management team is reviewing new opportunities and strategic partnerships while growing a proven business model for continued long-term growth and profitability.
The Company reported new Government Contracts and increased operations from its Cargo Boat Murni. Cargo Boat Murni is located in Sumatra in the Padang Harbor, and has the capacity to haul over 200 tons of Construction building materials for Resorts and Government Contracts between Sumatra, Nias, and Telos islands. Cargo Boat transports is a growing business because building and land development are expected to grow. Indonesia’s construction sector is growing at 7-8% per year.
Rudi Khelces as CEO and CFO of the Company stated its Cargo Boat Murni will haul equipment and materials to build its Seven Palms Resort, and Nasara Resort in the Mentawai islands. And, its Charter Boat Business is starting to experience tremendous work orders from resorts and Government Contracts as Indonesia opens the archipelago to accommodate the onslaught of tourism and economic growth in Indonesia.
— milburn pennybags ⛄️ (@milburnpennyba2) September 13, 2022
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Indonesia is the second most productive and profitable construction market in Asia, where many construction projects are underway in residential and non-residential sectors. There is a massive demand for residential properties, and the property sector is growing in major cities across the country. Public works investment is crucial in the government’s plan to provide water resources, roads, and human settlement infrastructure for long-term development.
GGSM recently acquired luxury vessel Maki as part of its growth strategy through acquisitions to increase service capabilities in the Mentawai Islands. In addition to Maki, the Company is evaluating acquisitions to increase ultimate charter vessels in our fleet and new attractive chartering Packages to major islands in the Mentawai Islands. On top of its magnitude and tradition, Maki delivers 105 feet of maximum liveaboard comfort. It features Five Cabins – 3 are Luxury Suites, a large living room with two dining tables, an open plan kitchen, and TV, which leads to the external lounge to hang out and watch the surf from a sun deck with 8-day beds. (https://www.makiboat.com)
On August 3 GGSM announced the opening of Phase 1 of its Brand New resort in the Mentawai Islands. The Nasara resort is the Company’s brand new environmentally friendly resort. Nasara is conceived as an iconic recreation destination. As a surfing destination, few places on earth offer diverse, reliable waves on offer across the entire island group throughout the year. CEO and CFO Rudi Khelces stated, “We are excited to have our Stage 1 ready and open for business ahead of schedule. In addition to our overall growth, Nasara will be the cornerstone of our plan to build and construct a 37 Villa tourism resort. Our facilities and surroundings are outstanding on a world-class scale.” The development objective is to create a 4.5-star destination to be enjoyed by locals and foreigners alike.
— Mike_Chartist_4Rally (@investostocks) September 13, 2022
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Currently trading at a $2.1 million market valuation GGSM OS is 1,357,393,877 with a public float of 695,419,130 shares. As we stated earlier GGSM is doing big numbers and is virtually debt free; according to the 10Q filed today the Company has over $3.9 million in the treasury, $6 million in assets and just $185k in total liabilities. For the 3 months ended July 31, 2022 GGSM reported $868,018 net income on $2.42 million in revenues for the quarter. These represent spectacular numbers especially for the OTC. With numbers like this it’s easy to see why GGSM is under heavy accumulation here and looking to break out northbound from current levels. We will be updating on GGSM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GGSM.
Disclosure: we hold no position in GGSM either long or short and we have not been compensated for this article.