Turning a corner... Whew! It seems the resource sector has finaly turned a corner. The recent downturn has been brutal. Many investors took a 30%loss in this recent correction. However, it seems we are headed for another run in the oils and metals, perhaps new highs, especially in oil as another record breaking hurricane season approaches the eastern seaboard of the U.S. Of course precious and base metals are still in a secular bull market because of the China and India demand. Gold & Silver on the other hand is tied closely to the U.S dollar and will appriciate as the U.S dollar loses value in the coming months. I believe new highs will be seen in the Gold's before 2006 ends.
Now to DOR! It seems all juniors took a beating recently including diamond juniors. DOR was no exception and was beaten down from the $1.40 range to the $1 range.
I see DOR as being in a unique position. I believe investor sentiment will turn positive because of renewed interest in metals and the DOR share price will respond accordingly. Also, with the 20 million Lacroix shares basically taken care of and more news in the wings, the share price should take a nice run back to the $1.50 -$1.60 range.
Unless the news is spectactular, I would be a seller on news, buying back in a couple of weeks at a lower price. This buying and selling strategy has worked very well for many DOR investors.
For what it's worth, I am a buyer at these prices. But, everyone should do their own DD.
Have a great evening...Mad