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Gold Canyon Resources Inc V.GCU



TSXV:GCU - Post by User

Bullboard Posts
Post by taylor1988on Nov 02, 2011 10:45am
427 Views
Post# 19201719

GCU

GCUI don't know that we'll see news this week other than the closing of the PP but I sure am not waiting to pick up more at these levels. This stock never belonged below $3 let alone $2. The coming Resource Estimate will certainly put a floor under this share price and I would be very surprised if it came in under 4 million ounces. I'm predicting somewhere between 3.8 Moz and 4.8 Moz but if it comes in any higher we're easily a double at these levels.GCU should be trading at the same evaluation as TRR and other low grade bulk tonnage explorers at closer to $140 / oz. Currently TRR is worth $600 million based on 4.2 Moz at their Cote Lake deposit. GCU is worth $395 million (fully diluted) with a pending Resource estimate at their Springpole project. With a 4 million ounce Resource Estimate GCU share price should reach $4.25 with a $550 million dollar market cap. Ultimately it looks like Springpole has much more than 4 million ounces and if we come in higher than that area you can add about 50 cents for every million ounces.Very exciting time to be a first time shareholder and looking for a nice re-valuation in 3 months time. If the Resource is strong then the PEA will likely be when GCU gets looked at as a takeover target as the project will allow a 150,000 oz / yr operation.
Bullboard Posts