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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

Comment by ERTguyon May 13, 2016 5:35pm
99 Views
Post# 24872188

RE:RE:RE:RE:Falling wedge pattern

RE:RE:RE:RE:Falling wedge patternIf you know as much or more about TA then myself then you would be playing the swings instead of complaining about them.  Also if you knew more about TA than myself then you wouldn't come back with a silly response like "this already went over 23.80" failing altogether to identify the short term underlying trend which is a falling wedge pattern.  This is a bullish signal especially when preceded by an uptrend.  I agree that the market is run by vultures and is a sewer.  That being said I'd rather understand how technicals play in to trading patterns then get burned on the MM's playing their games.  This stock will be back over $25 within the next month.  Gold will inevitably be trading over 1300.   The recent bounce in the DXY has put some short term pressure on gold, however the old resistence at 1260 is now the new support.  I predict the DXY will be sub 90 within the next few months and add a higher floor in the price of gold.  There is no reason for the dollar to bounce especially given the recent weak jobs report so I attribute the run in the dollar nothing more than a dead cat bounce.  The strong signal here is gold is retaining a higher price 
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