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Granada Gold Mine Inc V.GGM

Alternate Symbol(s):  GBBFF

Granada Gold Mine Inc. is a Canada-based junior natural resource company. The principal business of the Company is the acquisition, exploration and development of mineral property interests. The Company is engaged in developing and exploring its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, which is adjacent to the Cadillac Break. The Granada Gold Property is located five kilometers south of the mining community of Rouyn-Noranda, Quebec. The property includes the former Granada Gold underground mine. The Company owns about 14.73 square kilometers of land from a combination of mining leases and claims. The Granada deposit is a quartz-vein mesothermal gold deposit hosted by late Archean Timiskaming sedimentary rock and younger syenite porphyry dykes.


TSXV:GGM - Post by User

Bullboard Posts
Post by rockport1on Jul 02, 2010 11:40am
510 Views
Post# 17239207

Normal market gyrations

Normal market gyrationsI don't think it is necessary to speculate on why GBB is dropping today. IMO, this is just normal market gyrations that the resource stocks go through periodically. I don't believe it has anything to do with pending/leaked news, market manipulation etc. The general resource/precious metal sector is trading down today, since Canadian markets were closed yesterday when gold had its big drop.  It is the general market sentiment in this sector that is down.
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Personally, the dozen or so resource stocks I hold are all in the red, not just GBB. GBB may be down more than others because it has had such a great run over the past four months. When stocks go on such bullish runs, they pick up momentum and, if volumes are high, also pick up momentum traders. These traders will ride a stock for as long as the uptrend remains intact. Unfortunately, when momentum slows, they bail pretty quick and move onto other speculations. 
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Once GBB finds a new level, buying momentum will come back pretty quick. Especially, if positive news is released. In that case, watch the traders come back and propel the stock quite quickly.  If you believe in this gold play, just ride this out. GLTA
Bullboard Posts