Correction to my 6.25.09 post.My 6.25.09 message posted at 1.34PM and by the close EVR was up to $0.18 which means the stock has appreciated by 500% from last years lows, compared to GQC's feeble 212% gain. Even more telling is the way both stocks are reacting to news from the Dominican Republic. On 6.1.09 EVR announced plans to start drilling at Pueblo Viego and since that announcement the stock is up 100%. On 5.7.09 GQC announced a 43-101 compliant resource at Las Animas and since that announcement the stock is down 5%. Eh? How can it be that news about plans to start drilling can be so positive while news about actual proven reserves, the result of years of drilling have a negative effect on the stock price? The answer has to do with the shareholder base in the respective companies. EVR has a highly commited shareholder base. The stock is a darling of investors following the james Bay exploration program, who are holding out for discovery of another Roberto-like deposit that made the shareholders of Virginia Gold so much money when VIA was bought by Goldcorp. Also Rob McEwen put EVR on investor-radar screens when he invested in the company. So EVR has a large group of commited shareholders who buy on company news.
GQC, in sorry contrast, is way off the radar screens of most investors. So news of a 43-101 resource that is conservatively valued at 15 times more than the stock is selling for is greeted with a yawn . GQC is selling at a 93% discount to NAV - see my 6.12.09 post. So the difference between the winning ways of EVR and the loosing ways of GQC is easy to understand - to those who understand the gold market. Unfortunately such subtletys are lost on the bean counters running GQC's Board.