RE:RE:RE:pucara gold Swingzup, the market was obsessed because there was a lot of hype since the company formed and leading into drill results. Everyone was expecting much better results based on this hype. Now that they have failed to deliver anything even close to the results they were hyping the share price got what it deserved. The market will not be so gullible going forward and now the heat is turned up for the next set of drill results.
You can produce all the youtube videos you want saying the silica is 100-200 meters thick and it's everywhere, but if there isn't anything in the fine silica it's useless. The sampling took place on the western and eastern portions or a large land package with the west basically coming up goose eggs. Which at least for now indicates the gold bearing area just got cut in half.....Just like the share price. Not to mention the area that did hit gold wasn't worth writing home about either.
As I see it you may as well just say the company's initial drilling at Lordes was delayed 9 months at cost of 2 million. Oh and lets not forget the area they are exploring is now approximately half of what they thought....at least until the drill proves otherwise.
As I said I thankfully only had a very small positon so I'm not out much. It's funny, I'm also invested in another gold exploration company that was formed approximately the same time as Pucara. In that case they had quite a bit of prior drilling and are also waiting on a set of drill results. The property is also a long way from development. However they are about to merge with a gold producing company. From explorer to producer in approximately a year from when they had there IPO. Pretty impressive. The fun part iis the share price has fallen. So I've been adding to my position. I feel much better about that investment.