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Golconda Gold Ltd GG


Primary Symbol: V.GG Alternate Symbol(s):  GGGOF

Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Post by ERTguyon May 13, 2016 2:32pm
117 Views
Post# 24871398

Falling wedge pattern

Falling wedge patternSince the run up to $25 this short term falling wedge is actually a bullish signal.  This purchase of Kaminak resources and the recent downgrade by Goldman has created some short term downward pressure.  However this is what we know from the acquisitions made in the mining sector this year.  Tahoe and silver standard both had short term downward pressure from their acquisitions made this year, and both have run tremendously since then.  As per the trend, all we need is a close above 23.80 and this stock goes parabolic.  Cheers
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