Drilling StartedJust opened a position in this very speculative stock.
Announced start of drilling program. Stock has been trading $0.18 to $0.24 since December. Market Cap $24M. Carmacks has PEA. Drilling could potentially add resource and could upgrade inferred resource to M&I.
- September/October $2.4MM PP @0.145 with warrants exercisable at $0.25 and flowthrough shares at $0.18 and $0.205.
- November; Complete arrangement to acquire Carmacks
- December/Jan: Results of successful fall drilling program at Stu (Carmacks North)
- Feb/Mar $5.2 MM raised in PP. Shares @$0.20, Flowthrough shares @$0.22. Units @0.28 which incldue shares and warrants priced at @0.30. Some shares are picked up by Sprott Managed fuinds.
- Drilling program announced and commenced (May)
Current price around $0.20 is close to the share price of most recent PP and below the warrant exercise price of two most recent PP ($0.25 and $0.30). Share price has traded in a fairly tight range for December - Now. Low volume - not heavily promoted.
Expect news stream from drilling program could drive price. PEA for Carmacks was positive at lower commodity prices. Lets see what the drills can add.
Stock Technical Analysis: Analysis of GCX.C based on EMA, MACD, RSI, Stochastic, Fibonacci, trends and gaps (stockta.com)