Buy GCM-T Gran Colombia Gold Corp

GRAN COLOMBIA SHAREHOLDERS AND MEDORO SECURITYHOLDERS APPROVE MERGER OF THE TWO COMPANIES
11:15 EDT Tuesday, June 07, 2011

House Positions for C:GCM from 20110607 to 20110607

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
79 CIBC	136,500	130,950	0.959	80,437	75,947	0.944	56,063	-55,003
15 UBS	45,000	43,750	0.972	0			45,000	-43,750
67 Northern	9,600	9,014	0.939	0			9,600	-9,014
44 Jones Gable	909	875	0.963	100	94	0.94	809	-781
19 Desjardins	0			500	475	0.95	-500	475
90 Barclays	0			500	480	0.96	-500	480
72 Credit Suisse	0			1,500	1,455	0.97	-1,500	1,455
99 Jitney	3,000	2,835	0.945	5,500	5,295	0.963	-2,500	2,460
2 RBC	0			2,750	2,615	0.951	-2,750	2,615
7 TD Sec	4,500	4,230	0.94	8,500	8,330	0.98	-4,000	4,100
65 Goldman	0			4,722	4,468	0.946	-4,722	4,468
101 Newedge	0			14,000	13,540	0.967	-14,000	13,540
1 Anonymous	2,000	1,920	0.96	23,000	21,875	0.951	-21,000	19,955
33 Canaccord	0			60,000	59,000	0.983	-60,000	59,000
TOTAL	201,509	193,574	0.961	201,509	193,574	0.961	0	0

Short History

		Symbol	Report Date	Volume	Change	% of Float
		GCM - T	2011-05-31	1,649,250	-243,500	0.76
		GCM - T	2011-05-15	1,892,750	-119,200	0.87
		GCM - T	2011-04-30	2,011,950	-858,600	0.93
		GCM - T	2011-04-15	2,870,550	928,600	1.34
		GCM - T	2011-03-31	1,941,950	125,800	0.91
		GCM - T	2011-03-15	1,816,150	98,600	0.85
		GCM - T	2011-02-28	1,717,550	10,700	0.80
		GCM - T	2011-02-15	1,706,850	-101,500	0.80

TORONTO, June 7, 2011 /CNW/ - Gran Colombia Gold Corp. (TSX: GCM, GCM.WT) shareholders and Medoro Resources Ltd. (TSX: MRS, MRS.WT) securityholders each approved the arrangement under which Medoro and Gran Colombia agreed to merge. Of the Medoro securityholders who voted, more than 94.71% voted in favour of the special resolution approving the plan of arrangement. Of the Gran Colombia shareholders who voted, more than 87.36% voted in favour of the issuance of the common shares of Gran Colombia in connection with the arrangement. The merger is subject to receipt of the approval of the Supreme Court of Yukon and the satisfaction by Gran Colombia of the customary listing conditions of the Toronto Stock Exchange ("TSX") for the additional common shares of Gran Colombia to be issued and listed on the TSX pursuant to the arrangement. The merger is expected to be completed on June 10, 2011.
"Gran Colombia shareholders and Medoro securityholders recognized that the merger between Medoro and Gran Colombia will create Colombia's premier gold producer with the resources, cost structure and financial strength to compete globally," said Serafino Iacono, Executive Co-Chairman of Gran Colombia and Interim President and Chief Executive Officer of Medoro. "The merger will create a stronger entity that will be better able to realize efficiencies and opportunities neither company could have realized on their own. Management will now focus on the integration of both companies operations, and will provide regular updates to the market to communicate progress at the exploration and production assets."
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based gold and silver exploration and development company focused on acquiring, developing and operating properties of merit in Colombia. Gran Colombia holds 95% of the former Frontino Gold Mines Ltd. gold and silver assets (now known as the Gran Colombia Project), including the largest underground gold and silver mining operation in Colombia. It also owns four more exploration projects in Colombia for total exploration acreage of approximately 21,400 hectares. Gran Colombia is committed to implementing its exploration and development strategy with a comprehensive environment, safety and community program, meeting international standards of best practice.
Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.
About Medoro Resources Ltd.
Medoro is a gold exploration, development and mining company with its primary focus being the development of a large-scale, open-pit mine at Marmato in Colombia. Medoro also has a 5% interest in the Gran Colombia Project in Colombia with an option to increase its interest to 50%. Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela, as well as interests in gold exploration properties in Mali.
Additional information on Medoro can be found on its website at www.medororesources.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-looking Information
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Medoro, Gran Colombia and their respective projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medoro and Gran Colombia to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release based on current expectations and beliefs and Medoro and Gran Colombia disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For further information:
Gran Colombia
Belinda LabatteInvestor Relations(647) 436-2152
Medoro
Robert DoyleDirector(416) 603-4653

Close Prices

Price/volumes not adjusted for restructures

Date	Ex	Sym	Open	High	Low	Close	Chg	Vol	#Tr	Bid	Ask		T Vol		A Vol		X Vol		P Vol		O Vol		M Vol		L Vol
2011-06-06	T	GCM	0.99	1.00	0.93	0.94	-0.05	279,148	274	0.94	0.98		211,823		40,325		24,000				3,000
2011-06-03	T	GCM	1.02	1.04	0.98	0.99	-0.03	528,284	665	0.99	1.00		355,731		62,653		87,300		16,600		6,000
2011-06-02	T	GCM	1.06	1.07	1.02	1.02	-0.04	368,299	534	1.02	1.04		242,614		26,811		71,300		26,574		1,000
2011-06-01	T	GCM	1.01	1.06	1.00	1.06	0.03	1,471,731	733	1.05	1.09		1,283,006		68,825		20,600		65,900		33,400
2011-05-31	T	GCM	1.03	1.05	1.00	1.03	0.01	315,075	414	1.00	1.03		260,587		16,288		21,400		14,600		2,200
2011-05-30	T	GCM	1.01	1.03	1.01	1.02	0.02	55,970	71	1.02	1.03		46,560		6,610		500		2,300
2011-05-27	T	GCM	1.06	1.07	1.00	1.00		532,212	625	1.00	1.01		414,060		58,152		19,800		38,800		1,400
2011-05-26	T	GCM	1.08	1.08	1.00	1.00	-0.05	472,473	431	1.00	1.02		391,700		16,115		12,200		40,558		11,900
2011-05-25	T	GCM	1.03	1.09	1.03	1.05		1,439,187	433	1.04	1.08		1,384,648		15,739		16,900		19,000		2,900
2011-05-24	T	GCM	1.03	1.09	1.02	1.05	0.05	851,069	512	1.04	1.05		791,842		7,169		20,400		31,558
2011-05-20	T	GCM	1.01	1.05	0.95	1.00	0.06	671,077	569	0.97	1.00		521,976		73,601		34,000		20,000		20,000		1,500
2011-05-19	T	GCM	1.02	1.02	0.94	0.94	-0.05	101,264	66	0.91	0.97		82,905		8,359		500		5,000		4,000		500
2011-05-18	T	GCM	0.98	1.01	0.95	0.99	0.04	370,874	208	0.94	1.00		284,650		30,224		29,000		24,000		2,000		1,000
2011-05-17	T	GCM	0.90	0.99	0.90	0.95	0.03	1,204,673	327	0.92	0.95		1,059,080		93,593		28,500		19,000		2,500		2,000
2011-05-16	T	GCM	0.98	1.00	0.85	0.92	0.01	374,576	232	0.92	0.94		267,265		55,311		19,500		30,000		1,000		1,000
2011-05-13	T	GCM	1.03	1.03	0.91	0.91	-0.10	706,470	412	0.90	0.93		638,344		26,726		19,100		19,200		1,000		2,100
2011-05-12	T	GCM	1.02	1.10	1.00	1.01	-0.02	484,408	689	1.01	1.03		378,845		46,063		20,000		27,500		9,200		2,800
2011-05-11	T	GCM	1.09	1.10	1.02	1.03	-0.08	232,036	395	1.02	1.04		195,966		14,470		13,100		5,500		1,600		1,400
2011-05-10	T	GCM	1.20	1.20	1.11	1.11	-0.09	126,406	357	1.11	1.13		79,800		7,506		12,300		25,100		1,200		500
2011-05-09	T	GCM	1.15	1.20	1.10	1.20	0.05	1,341,718	507	1.19	1.20		1,184,341		121,077		20,500		14,800		1,000
2011-05-06	T	GCM	1.14	1.18	1.10	1.15	0.08	150,829	440	1.13	1.15		101,472		15,257		21,200		10,500				2,400
2011-05-05	T	GCM	1.22	1.22	1.05	1.07	-0.15	3,390,143	611	1.07	1.10		3,334,304		11,839		24,000		19,000		400		600
2011-05-04	T	GCM	1.17	1.26	1.10	1.22	0.01	972,823	1,009	1.19	1.22		463,137		132,086		118,700		230,800		18,900		9,200
2011-05-03	T	GCM	1.25	1.28	0.99	1.21	-0.04	494,575	932	1.21	1.29		294,279		75,996		112,000		3,800		6,000		2,500
2011-05-02	T	GCM	1.33	1.37	1.25	1.25	-0.11	508,722	1,222	1.25	1.31		291,646		19,676		158,100		23,500		1,500		14,300

Amanda Lang admits to financial choices that put her deep in debt

AMANDA LANG

Sun Jun 05 2011

Comments (11)

There are some pretty basic rules about personal finance, and my money mistake involves violating them all. This was no accident mind you. I did it willfully and with no small sense of pleasure. (Keep this article away from young children.)

I was posted to New York at the age of 28 as a business journalist, and intended to live within the somewhat modest means of a newspaper correspondent. And I stuck to my guns, for at least six months. Then I abandoned my guns, hopped over the wall into no man’s land, went AWOL. And in retrospect I’m glad I did, because the investment in my career and the experiences were worth more than the thousands of dollars I figure it cost me.

I blame my fall on the city: Her high rent, irresistible restaurants, the plays, the fashion, the travel beckoning, the fascinating people from all over the world. But for all of that, I might never have strayed.

It’s not hard to keep track of whether you can afford something or not — that’s what bank statements are for. But, I reasoned, this is New York. I will only live here once, and to live and work here and not absorb all its delights would be criminal. The real gamble was that my future, post-New-York self would reap a reward in the form of a higher salary and a better job and that would presumably help me pay down all the debt.

First I gave up the uptown studio apartment that fit my budget and moved to more convenient SoHo on the lower West Side. Then I bought the clothes that kept me in fashion in cutting-edge New York. I shopped smart, sales in out of the way stores.

My new friends liked to dine out (most people I knew in New York used their oven as additional storage space) and pretty soon we were traveling too. Italy, Spain, Italy, the Hamptons, Italy. We travelled together, and an Italian villa back then was a steal — I was practically saving money by going.

Within a few years, I was rich in experience, a billionaire in sights and sounds, a queen of couture. And tens of thousands of dollars in credit card debt. The lowest moment, financially speaking, was when I cashed in my RRSP — paid a huge chunk of tax on it, lost the compounding potential, and used the money to pay off a credit card. Or most of it.

Now financial experts would say that’s not the worst move — after all, no investment return will net you the 19 to 29 per cent you pay on credit card debt.

It seems to me I broke every one of the three cardinal rules of personal finance.

Live within your means. As Dickens said: If you spend even a penny less than you earn, happiness follows, a penny more, misery. I certainly did that — minus the misery.

Start saving early. The miracle of compound interest means the sooner you start the less you will need to save later. Throw in the tax benefits of a registered retirement savings plan and you get a real kick to your savings.

I started saving in an RRSP pretty much as soon as I had income after university. I managed, by my mid-twenties, to be maxing out my annual amount. Then I cashed it all out, losing $40,000 and a lot more potential. But there’s more.

Avoid credit card debt. Paying only the monthly minimum on a big balance is the surest route to penury. Though you will find yourself newly popular with credit card companies who will generously raise your spending limit. Knowing this, I dutifully avoided credit debt until I got to New York. Until then I had used it for the inevitable short-term bridging periods incurred by a combination of extreme poverty and an inconvenient need for food.

So there you have it. Money mistakes one through three. But as for the outcome — well, Dickens would not approve. It ended pretty much the way my 28-year-old self thought it would. I got a higher profile, a high paying job in New York and, when that helped me land a better, even higher paying job back in Canada, I paid off my credit card debt in six months.

Was it a mistake? On a straight math basis yes. It was foolish. But would I do the same thing over again? In a New York minute.

Pescod Talks Corridor T-CDH