Drilling Not sure about drill results flowing soon... my understanding is that any drilling that will be done (if any) is for geotechnical purposes. I wouldn't hold your breath regarding drill results. But the other near terms catalysts are for real (PEA, REE news).
Between institutional moves (i.e. exiting positions) and news drought, plus a generally sluggish market for juniors, the perfect storm is now passing in our midst. I agree that we may experience further downward pressure on the share price, because right now, there doesn't appear to be a bottom. By that I mean, it is my opinion that unless there is some seriously positive news coming out very soon, the same factors that are driving the sp down currently will continue. There's no reason for it not to, in other words.
The thing is with GCU (and one only need to look at past performance to see how the sp behaves), it is impossible to time the top or bottom of anything. When she moves, she moves really, really fast, and then you find yourself chasing it on the way up, which is never an ideal situation. If you are contemplating accumulating, now's been as good a time as ever (save for the 2008/09 credit crisis days), but be advised of the above caveat that your purchase may be under water before it goes up.
Are we undervalued? ABSOLUTELY. When will we rebound? Who knows. I bought in at 89 cents and 82 cents recently, as I posted, so my money is where my mouth is. I wish I had a time machine, but I don't. I only draw solace in knowing that I lowered my average cost, and will now stand pat until a rebound occurs, which I hope, pray and beg is sometime sooner, rather than later.
I don't know if GCU will go it alone vis-a-vis developing a mine, but if they do, they have the team that can do it. Market conditions are not ideal for that right now, so my bet is still being placed on a buyout. True, they could just work on a starter pit and mine the near surface, high grade, but even then, that will take money we don't have. Is a JV a possibility? Whatever the case is, I am sure that management is reassessing their position and strategy as we speak. Our market cap has lost well over a hundred million dollars, and is shrinking by the day. One has to think that if this isn't a crisis for management to deal with, then what the heck is?
It would be nice to see management buying in right now, to show some support. It would also be nice to have some news - ANYTHING - that gives us an indication that management even cares and is doing something about this debacle.
On life support, but still alive,
Barisian