Things That Make You Go Hmmm..... Thanks Goldback for your link from a few days ago re: GCU and Thom Calandra.
Thom: " I am throwing in my mathematical towel on Gold Canyon Resources (Canada: GCU). I lost a lot of money on this Ontario gold project developer. I wanted to believe in this thing after I spent time on the road with Quinton Hennigh, the PhD. geologist who is connected to several speculative gold prospectors. "
LoneStar1: We have just experienced one of the most severe downturns in the metals market since 2008. Many, many companies have gone south since early February. Why single out GCU. What is behind Thom's motivation to lose money and throw in the mathematica towel when GCU is really an early stage explorer that has been returning nothing but consistent results for the past year and a half. Things that make you go "Hmmmmm...."
Thom: Gold Canyon’s revised resource estimate in February underwhelmed the market. The stock’s horrific fall started about a week before the resource estimate was unveiled in late February. Clearly a case of a company, one of many out there mind you, with way too much stock trading in the open market at a time when way too little demand exists for metal equities.
Lonestar1: Anybody that was clearly following GCU was happy with the results of the 43-101. What was he hoping for and what was that hope based on. All the analysis was pointing in the neighbourhood of 3 million ounces and that was what Quinton delivered. "Too much stock trading in the open market.." What is one to make of that comment. Things that make you go "Hmmmm..."
Everybody is allowed to change their opinion but I think there is more to it than what he presented. Anybody care to speculate.
By the way, how do like my new picture? I got tired of the blue man.