RE: lots on the bid Some upcomming events are the Yukon Geoscience Forum (ie: look at bio of our new director and consulting geologist) where a talk will take place on Wed Nov 21 between 1.15pm and 4.30pm that is followed by the AGM on Nov 22. As for upcomming news, I would assume the remaining soil assays will be bundled with any geophysical survey results that can come out at just about any time.
In an interesting note, the Goldstack Zone is on the docket for a follow up drill in 2013. If the exploratory drill results were that bad, then why would GSR retain Goldstack as one of its core properties let alone go back and drill some more? This makes no sense when one looks at the results and then looks at the stock graph. If one were to re-read the news release, GSR indicated that they were actually pleased with the results "The techical team is encouraged to see that the prospect drilling confirms the gold mineralized breccia is thicker at depth and remains open, indicating that it is part of a larger gold mineralized system." and "....this is the kind of system where grades can vary significantly over short distances."
If actions speak louder than words, this is NOT fluff.
Of greater significance heading into the 2013 season are the priority drill targets of VG and Goldbank. Truth be told, these targets is what the speculative story of GSR is all about - finding gold!
Take VG as an example:
"At the newly discovered VG zone, ground geophysics has confirmed a large structure below bonanza grade mineralization taken from outcrop/subcrop at surface. The structure is believed by the Company's consulting geologists (now director) to be the source for the gold...."
In 2013, we get to see some drill results!
As us shareholders have been licking our rounds, GSR has been busy restructuring its property portfolio, cutting costs, reducing dilution to shares outstanding and making management changes. To drill in 2013, however, is going to cost money. Per our resident bashing pundits, I think they are correct. In any new PP undertaken, the unit pricing looks to be in and around $0.25 cents with a 1/2 warrant kicker. But how much money will be needed? My best guess is $1M to $3M for an average of $2M to start the season. Then maybe another (but lessor) PP to end the season. Dilution attributes under this scenerio is 8 million common and an additional 4 million common (ie: 1/2 warrants if exercised).
To close, and unlike last year, I think gold prices will be the big story in 2013. What befalls GSR's stock price between now and next season, imo, will be predominately rooted in the gold price. If PM prices continue to trade higher, then it can be expected that GSR will as well and more so once drilling is actually started. If not, I think there is a slight possibility of dipping into the upper teens on a major market sell off and or declines in the gold price (along with investors appetite for the same). Despite this, I think it fair to say that GSR has bottomed, is currently oversold and makes a great accumulation story over the winter months.