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Goldsource Mines Inc V.GXS

Alternate Symbol(s):  GXSFF

Goldsource Mines Inc. is a Canada-based resource company, which is engaged in exploration activities. The Company is focused on the Eagle Mountain Gold Project (Eagle Mountain) for which it has a 100% interest in the Eagle Mountain Prospecting License (EMPL) and the Kilroy Mining Permit (collectively, the Property). The Property is located approximately seven kilometers (km) south of Mahdia Township (population approximately 3000). Mahdia Township can be accessed by road from Georgetown, a driving distance of approximately 325 km, or via air by a commercial flight. The Property consists of an area of approximately 5,050 hectares (ha) (12,480 acres) in central Guyana, South America. 4,784 hectares (11,820 acres) of the Eagle Mountain Property relate to the EMPL while 266 ha (660 acres) relate to the Medium Scale Mining Permit held by Kilroy Mining Inc. (Kilroy), on which the Company has a long-term lease with a 2% net smelter return royalty.


TSXV:GXS - Post by User

Bullboard Posts
Post by AuContraireon Sep 29, 2009 12:24pm
562 Views
Post# 16347115

Ain't Hindsight wonderful ?

Ain't Hindsight wonderful ?In my opinion this is why the share price sky-rocketed and then backed off considerably. Yes it is a Venture Exchange deal which all the wise guys and sharpies routinely short the beejeezuz out of, once a big run-up happens because of the greed of inexperienced retail players.  All the speculation planets were aligned.  The climate for rockets was excellent.  And GXS was a rocket.  A rarity .. but a once-in-a-while happening on the TSX.V. Not too many sharpies were too concerned that this was a very low float company. Factually the drilling results were exceptionally good and as soon as the big shorters could see this they covered quickly and took their lumps. Their buying-back along with the continued surge of buying from the retail dummies drove the price to $19 to the level of unsustainability. Then of course down she would come anyhow.  And she did after the short-covering ended and the buying euphoria was spent.  Situation normal !!!  The Greedy Gusses and some of the shorters as well took a big beating.  Then of course just by coincidence the big general market melt-down hit.  The combination of the end of the short-covering, the slowing of the buying frenzy, and the big market meltdown resulted in an abnormally severe pull-back of the GXS share price.  I don't see anything abnormal here.  This is the TSX.V.  If you wish to play .. be ready to pay !!  LOL.  It is an exciting jungle to play in.  Danger lurks in all speculative junior stocks.
Bullboard Posts