Danny's deal...no bottom in sight Like I said yesterday, you can fool a lot of the punters and obviously still the odd big time analyst. Danny's deal collapsed yesterday, down around 50 cents. Down again today, another 10 cents. Huge volume yesterday, over 12 million. Reason: you can natter all you want about having one or two million ounces. If the grade is not there, you can have all the width you want. Danny's dudes slid out a news release...when you check the grades, they are beyond meager. The only time the cut-off gets above 2 grams is waaaaaaaaaaaaaay down the hole.
If...and that is a big IF - GRR can pull their fingers out of their keestes and deliver on to us a number exceeding 250K ounces and it is near surface and it is high grade (3+ or better) we will be laughing all the way to the bank. Mind, when you get to the bank...beware of the long line-ups of smelly and starving plebs as they loiter around ATM machines...machines that will be *temporarily* Out of Order.
Hopefully when November comes there will still be a stock market, for if so...if the numbers are good, the share price should move up a few pennies.