RE: RE: MARKET SUPPORT COLLAPSED Goldendream, IMO you are correct in stating that market conditions are part of the problem here. As venture capital begins to dry up it gets harder and harder for early stage explorers to obtain financing. You got to remember that tons of investment dollars have been poured into the venture market over the last decade and big profits were made by those in early. For the smart ones, with the markets down this now is a great time to accumulate again. (buy low/sell high).
Look at GDW's neigbour NUX. Proven deposits, open ended, 30 million cash and trading for @2.20 last fall and recently down as far as .67. Now trading at around .74.
This is the cycle that can kill a junior if they are trading as low as GDW (.03 to .04.) and they are basicaly insolvent. The options are not good. It is starting to remind me of the situration TLG was in when they were taken out by NUX. They were broke (7 million in the hole) and selling consistently at .005 and .01. Nice profits were made by the bold accumulators with that one.
Although Mt Anderson is a great project the question is, Is it a big enough carrot for a White Knight to consider something simular to the TLG move? I am positive Hermann has been shopping this around. Remember the share grab he took last summer. Everyone needs an exit strategy and a payday.