Globetech Ventures Corp GTVCF

Update from RagingBull.com

[windmere0]

01-06-04 SPECIAL UPDATE Today's Special Update will feature two of our favorite gold stocks. Both had good moves on Monday and we look for much higher prices in the short term. Gold prices are rising with the falling value of the dollar. Globetech Ventures (GTVCF:OTCBB) $1.97 - $2.01 + $0.26 on 246,295 shares. Trading above $2.00 should see a move to our very short term target of $4-5 in the January time frame. We started to see the first of a string of news releases on Monday with news the announcement of a new Chief Financial Officer from a mining division of the Anglo American Corp. on Monday. One of the geologists is already on the gold property in Brazil starting the testing for reserves. We should see an updated report from the head geologists on before the end of the month on estimated gold reserves. We have heard that as soon as the stock price reaches $3.00, Globetech will apply for a listing on the AMEX or NASDAQ stock exchanges. You can imagine an audience that GTVCF will have with a listing on a major exchange and brokerage firms providing support and coverage. That is why I am initiating a target of $10-12 after the stock is listed on AMEX or NASDAQ. Several weeks ago it was taking 200,000 to 300,000 shares for the stock to move 5 cents. Now we are seeing 10-20 cent moves on 100,000 to 200,000 shares. This week should see similar price increases as most investors, especially the European ones, are back in the market after their holiday vacations. Our take on that is that the float is starting to shrink rapidly. Many of you have emailed us on GTVCF telling us that you have become longer term holders of the stock. It looks like the float is shrinking as long term players are taking over the float. We would not be surprised if all the stock is in long term hands, except for 1 to 1.25 million shares and that number is shrinking daily. The institutions should start buying in the next week or two. We should see a breakout above $2.00 this week. Our short term target of $4-5 is beginning to look more conservative every day. We are going to raise our intermediate target to the $7-8+ area in the second quarter of 2004 and then $10-12 after the stock is listed on a major exchange. Depending on how quickly that happens, that target is for the second or third quarter of 2004.