RE: RE: RE: gold-canyon-comments-on-recent-share-p Kodiak?????? How can you compare a company with a 5 mil. oz compliant resource with people who sold a pipe dream? Ah the Golden Mile. Geralton Beardmore. The biggest thing since the Klondike, Except with with little Paris Hilton chihuahuas instead of sled dogs. Reinvent themselves? More like change the company name to protect the "innocent." I got into that thing on momentum, did the due diligence (don't look behind the curtain Toto) and got out in the $4 range as quick as I got in. Only looked back to see the smoke and carnage in the chart. Gold Canyon is trading like it doesn't have a proven resource or even drill results ( What did Troy say recently ....14 of the top 20 intercepts in the industry group for grade over length? Or was it 17?) This is not smoke or someone's pipe dream or marketing. Unlike the aforementioned company, if you know the history of this management, it has been one of the most cautious and conservative companies on the Vulture Exchange. They hate marketing. They hate promotion. They don't feel it adds any value. They have avoided it to a FAULT (which is what prompted my recent post about poor excuse for a website, etc.). Unfortunately what they see as ethical, humble and the right thing to do has, IMHO, been misinterpreted by the market as a lack of confidence . Others crow much much much more loudly about a lot less. Always trusting sound geology was all they needed. Focus on building the resource. Of course the market will see the value, even if you keep all your reporting ultra ulrta conservative (because that's the right thing to...this is science) But on the Venture it was like they went a gun fight with a knife. Which is why it was surprising to see the NR today with management being so openly optimistic and so forceful in saying the company is undervalued due to force majeure due to markets forcing players to sell winners whether they like it or not-----BECAUSE there's no liquidity in the real dogs.
And let me blabber on about all this 'chicken' stuff. Chicken Little is more like it.People are worried that the sky is going to fall. Hellllo. Look around. It fell. The juniors are squashed flatter than a Nevada flapjack. Thanks partly to people who make money from talking things down, and who might be making money talking it up in time for PDAC just to grab aattention, the sky started falling 19 months ago. But in the juniors the sky goes up and it goes down. The fun comes when it turns up on a dime. Anyone who looks for a widow's portfolio in this sector needs to get into Procter & Gamble or grow a pair. I got killed after Lehman and was shaking in my boots but based on the people and the potential I saw at Springpole and the rare earth / rare metals business. I added to my GCU position for pennies when people were almost sure the global financial system was going to collapse and nobody would be able to get gold out of the ground because no company would be able to borrow the money to buy a giant earth-moving machine or even tires. THAT was a scary market.. Comapred to that time this is like a haunted house for kids. I very happily sold a few chunks of those shares in the $4 range. That's why people invest in this sector. (As a disclaimer, I'm not claiming to be the Oracle of Winnemuca: i also picked up shares in the $3 range before the juniors market started to wobble, as reasonable folks in-the-know thought GCU might catch a bid in the $7 range from a major when the NI came out). Some people are worried this might fall further. They need P&G. I have no crsystal ball. Who knows where this is going. This management sold a resource that was not so different than Springpole for $2.3 billion. I'm not smoking funny desert stuff to think they are going to do that here or anything close... my cocktail napkin would put that at about $17.50/share for GCU. But thankfully they finally came out publicly (in a highly articulate, inteeligent and insightful way...with even a touch of substance) and said the current price is STUPID. They also showed investors that despite a year of too much silence that perhaps after all the lights are on and somebody's home.