If the 3.50 level breaks on volumnlook out for a large/accelerated drop. (IMO) There is resistance at that level. We'll see what happens. I believe that the potential is here but the timeframe for substantive news is getting too long for the shareprice to stay elevated. This is the reason for the continuous drop. It appears a head and shoulders pattern is clearly being formed here. (more downside w/o news)
We should be getting good news for production increases due to the warmer weather months. This though may not come out for another 2 months.
I suspect the Jiama property assessment will take months to complete. Hopefully by the years end. In the meantime (IMO) the shareprice will continue it's downward trend until news comes out to support all the conjecture and speculation.
The good news is that August typically has large gold price increases which should coincide with increased production numbers from Jinshan (I mean CGI)
What a market! What a ride.
Now - what other gold stocks have such good potential? Inbox me if anyone has recommendations. (no juniors please)