West Point Gold Corp V.AUU

Alternate Symbol(s): AUSVF

Metals & Mining Gold

Gold79 Mines Ltd is a Canada-based company, which is focused on building ounces in the Southwest United States. It is engaged in the identification, acquisition, evaluation and exploration of mineral properties in North America. It has four gold projects, two of which are partnered with gold producers (Kinross at Jefferson Canyon and Agnico Eagle at Greyhound). The Company’s Gold Chain project consists of 15 patented claims, covering approximately 282 acres and 379 lode claims on BLM land comprising about 7,480 acres (3,027 Ha). The Tip Top Gold project is located in Esmeralda County, Nevada at the north end of the White Mountains, five miles south of Montgomery Pass, which is on United States Highway 6 between Bishop, California, and Tonopah, Nevada. It also owns interest in Jefferson North Gold-Silver Project, Nevada and Jefferson Canyon Gold-Silver Project, Nevada. Jefferson North Gold-Silver Project is located Approximately 30 kilometers from Gold79’s Jefferson Canyon project.

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West Point Gold Corp

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Comment by oxinoson Aug 18, 2009 2:57pm

322 Views

Post# 16228451

RE: RE: elliott wave theory for price correction

If the retracement could be applied here, then having started it's run-up from the 9.5 cent range it has recorded a run of 34.5 cents. The retracement using the Fibonacci numbers would be 38.2% and 61.8%. Investors also use the 50% retracement but, this number has nothing to do with Fibonacci. Anyway, here are the levels of retracement that one should watch for: 38.2% = 13 cents, 0.44-0.13=0.31; 50% = 17 cents, 0.44-0.17=0.27; 61.8%=21 cents, 0.44-0.21=.23
I don't know if this retracement will take place but, it will be interesting to see what will happen.

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