RE: RE: RE: RE: RE: RE: back to the $1.40s Since I plan on accumulating more shares, the following comments below may blunt any advantage I have in the market, nevertheless the majority of investors will continue to allow their emotions to dictate their investment decisions. Below are part of the comments Dr. Q made about GCU in August:
Gold Canyon Resources Inc. (GCU.V): $208 million market capitalization. Before I jump into Gold Canyon, let me say I am involved with this company because I think the technical merits of this project are superior to most. Considering my conflict in discussing Springpole, I recommend investors do their own due diligence.
With that out of the way, I think Springpole is the best undeveloped bulk tonnage deposit in Canada. Current indicated and inferred resources are about 3.7 million ounces at about 1.25 grams per tonne gold but stand to grow as drilling expands the deposit. The rock is soft, gold (and silver which averages about 5-6 grams per tonne) appears readily leachable, and the continuity and consistency of mineralization is remarkable; all will likely contribute to a lower cash cost than that of most peers. At present, environmental, social, and technical aspects concerning the lake appear manageable.
As Gold Canyon increases the resource and minimizes risks at Springpole, its stock price should appreciate. Given the high quality and exploration upside of this project, justification for doubling or tripling in the share price is within reason.