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Goldsource Mines Inc GXSFF


Primary Symbol: V.GXS

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 xdmmdx3on Feb 05, 2009 2:33am
359 Views
Post# 15753778

I own a different area play....

I own a different area play....and the reason I didn't buy GXS and still don't want to own it is the technical analysis looks really bad.  It broke down recently in the chart and should be headed quite a bit lower, that is, unless news props it up.  There aren't enough fundamentals to say how much GXS is really worth, so buying and selling on technicals is all one has at this stage.

Good buy under $1.40 but weak support above it.  So expect this stock to drop back down.  Not saying it will get to $1 again, I think some kind of news will come out before that happens.  I'm not bashing the stock, I'm neutral on it and I'm only here waiting to see the news and how it can generate interest in other area plays.  Some of the other area plays have great technicals and the stocks are doing decently.  But it sounds like it will be a while before news arrives from what I'm hearing here.  Unfortunately, wishing and hoping for news does not bring it any sooner.  It will come when it comes.

Good luck to all,

x
Bullboard Posts