A Furious Waving of Arms It is easy to get carried away with Romero and assume it is the only asset of value. But just look at some of the results farther south. How about trenching 48 meters of 5.24 gms at La Escandalosa, for example?
The problem for Goldquest is that the severe bear market in junior explorers has created a Rodney Dangerfield environment in the past few years. Nobody gave a rat's arrse about GQC until Romero came along.
I have been in this play more than five years. I can assure you that when GoldFields signalled it wanted out, I pretty much gave up on the company and was thinking the share certificates may well make nice place mats some day. I was delighted that the company found a way to take out GoldFields without huge dilution, although the prospect of raising money made the cheering short-lived.
In retrospect, hving read the technical report co-written by 2 former Goldquest Directors, I now believe (without concrete evidxence) that these guys were the visionaries, not GoldFields. They probably sold the idea of funding an exploration program in the DR to a South African company looking for geographical diversification. Nothing wrong with that. In fact, a great deal all around.
The problem, IMHO, is that GoldFields signed on and agreed to spend the money, but never did really share the vision. So when the opportunity presented itself a few weeks ago to cash out to the tune of $25 million or so, the bean counters won the day (as they often do in big companies). This event is an inditement of their management, rather than of the merit of the project. And yet the market, once again, turned hugely bearish. "Yikes! Our biggest shareholder has sold out. They must be smart. We should sell too"
Quite the contrary I would suggest. As Jesse Livermore in the 1920's "Don't let them scare you out of a good position"