GoldSpring, Inc.

OTCBB:GSPG

Could this be a goldmine in more sense than one? Well..that's what I'm hoping for at the moment. This stock is what is called a "penny stock" (IFAIK) since it's trading around 2c at the moment.

Why is this interesting? On one hand, it's a very risky stock as the company has basically just been burning money the last few years without any results yet, and the areas they own and are currently test-drilling might turn out not to be viable for mining. On the other hand big risk normally also means potential big reward, and if they do find enough gold, silver etc. to start mining, the company value, and also the stock price, could go through the roof. In this case "going through the roof" might just mean that the stock ends up at $2, and though not a lot compared to many other companies this would still be 100x the original price, turning my $160 into $16,000 :). Where it might end up, I have no idea, but even a smaller jump to just 20c would still increase my investment quite nicely.

Then again the result could be that they find nothing and that the stock ends up being worthless..but that's part of the game and therefore an accepted risk, even though the risk in this case might be much greater than any of the other stocks I own. That's why I haven't gone "all in" on this one.

At the moment it's up around 13% since I bought it, which is nice, but I'm holding back to see if it does take off at some point.