GREY:OLEPF - Post by User
Post by
tony1969on Oct 12, 2012 2:46pm
131 Views
Post# 20478734
Gold looks like it has hit some resisiance here...
Gold looks like it has hit some resisiance here... between $1750 and $1775. Not good for gold equities here in the short term. Any kind of resolution of the Europen debt crisis even if it is just putting a band aid on the problem will be positive for equities and shrot term negative for gold. Long term gold will continue its uptrend because once again you cannot pay debt with debt.
As far as OLE, many things can happen here and all of you guys are talking about is a raise. They have said that they have enough cash to get them through this fiscal year which ends in Feb 2013. The feasibility study is paid for and I believe that it will determine a fair price for a sale. Chet realizes this and knows that further dilution is not the solution. Hey that rhymes.
If there is a raise it will just be to give an interested party enough time to review the feas study and come up with an offer. Something minimal like $1 or $2 million. At this point continued drilling makes absolutely no sense. TGZ will own us by Feb. JMHO