RE:Stuck at 40Qbar82dv wrote: Would like some news. Some good signs even if the share price is stuck.
The trading volume is up and the short volume summary is very low @ 1200 on Mar/15.
Some flippers must be taking profit but it's holding around 40 cents.
I sent an e-mail and would like to know if (construction is on budget / time). Also the preliminaries of the CB project. Must be too busy and working hard.
i think the best thing about the RED EAGLE is that production will happen in 2016. Cheers
Someone I know through another chat site, attended a company presentation at PDAC. They asked them about the current project status and were told that it is on time and on budget.
As far as the stock goes... we have a chart pattern that is very much like other junior resource companies right now: you had the blast off and then a consolidation pattern.
As you transition from a bear to a bull phase in a stock, you first get the 50 day average curling up and then moving through the 200 day moving average.
The stock will then typically consolidate, to allow the 50-day average to catch up to the stock price. That is exactly what has been happening now.
The consolidation is taking place in a very nice way -- with the stock price moving more sideways, than down, and on lower volume than you experienced during the uptrend.
So long as physical gold does not get smashed, the consolidation in the stock should ultimately be resolved to the upside.
Meantime, with each passing day, we get closer and closer to the onset of production. Just about ready to enter the 2nd Quarter -- we are only a handful of months away.
The match is ready to get lit and fortuitously, it is happening in an environment when the wind is to our back in the gold market.
The stock is significantly undervalued relative to peer producers (when comparing prospective first year production rates for Red Eagle) and this says nothing of the opportunity to grow the resource and extend the mine life.
The onset of production will provide a double benefit -- as it not only begins to make the cash register ring but also allows the company to begin drilling off the decline and expanding the resource.
We have so much good news ahead of us and it is so close.
Note: I am not a registered investment advisor -- just an individual investor who is long Red Eagle stock. Please stay diversified and perform the necessary due diligence.
Good luck all.