Bad day for Quinton
Looks like a horrible day for Quentin Hennigh and Quinton's miners. Seems like Miramont had a bad drill release and everything Quinton has, has been sold off in sympathy. Kirkland down 6%. Irving down 10%. Novo down 6%. Miramont down 70%. This, when the average miner is only down 2.4%.
What a statement from the markets on a day when gold is only down 1.3%. You think the market is realizing that Q is not a totally upfront kinda guy? Is he losing market credibility with all his delays and misstatements? EVERY announced release is late, including this latest one on BC. He also tends to be overly optimistic. If, based on his euphoric statements on BC, the market doesn't see at least a double to 1.3 million ounces at BC, (the wiring diagram has doubled in size...hence I think this is the new expectation) this latest swoon in price will only be a harbinger of worse things to come in the short term.
Batten down the hatches my friends. This next release could get ugly...again. Just like the last three.
Icarus