RE: Grandich responds
beautiful...thank you for that posting..
mamy
----------Original Message Posted 1/3/2011 10:52:46 AM----------
Glad he does put an end to some of the fallacies/rumors that have been spread around here:
" Yukon Gold Rush – Bigger and Better in 2011
As big as the Yukon Gold Rush was in 2010, I think it can be even better in 2011. Why? After over two decades playing (and sometimes getting killed) the junior resource sector, it feels like a near “perfect-storm” has come together for this play. Rising metal prices, increasing interest in resource stocks and actual decent results all have come together for this seasonal play. While renewed exploration won’t start for a few more months, I believe any correction is already behind many of the key area players. I suspect the shares can move long before the first drill bit hits the ground.
My significant exposure to this play has been through a Grandich client, Silver Quest Resources (SQI-TSX-V). I control nearly 2 million shares personally at this time. Because I haven’t spoken in-depth with SQI management in over a month, I can only summarize my thoughts on SQI at this time. But before I do, I like to for the “umpteen” time to urge you not to pay attention to what anonymous posters say in some chat site in cyberspace about me and/or what they claim I said/did/etc. Rest assured any and all comments I make shall be noted on this blog.
Many people have written to me asking does the lack of drill results from the Yukon suggest SQI has somehow bombed out there. History with juniors could suggest that but SQI management had claimed when I last spoke to them that the labs were horribly backed up and that they would put out results when they had them. In fairness to them, several of the key Yukon players have seen only a rather small percentage of the known drill holes released despite knowing many of them were drilled in the summer.
My take on this is as follows; whether SQI bombed or not, they have so much going for them both in the Yukon and elsewhere that I don’t expect any significant, long-lasting retreat in the share price if they did bomb. And if they demonstrate they’ve some significant initial success, so much the better.
The key reason to speculate in SQI remains the fact that they have significant deposits outside of the Yukon, both of which are likely to be reported have experienced significant boost in reserves and/or potential. The combination of this, the fact that SQI is one of the biggest players in the Yukon, and a sexy early-stage project to be drilled in Ontario shortly, all suggest in my biased opinion to be at least a strong holder at this time.
It’s important to note that a very large private placement at $.65 (I was part of it) came free trading last week. I personally think some of it was sold in December ahead of the release but it’s logical to think it can be supply that must be eaten through for the near-term.
Like you, I await news and rest assured I shall stay on top of the situation."