OTCQX:GTBAF - Post by User
Comment by
ROIHunteron Jul 19, 2019 1:34pm
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Post# 29940618
RE:Descending Triangle or Double Top! 😥
RE:Descending Triangle or Double Top! 😥I am afraid from my perspective fundamental analysis trumps this technical analysis. TA may work some of the time, but it will not work here and here is why.
GBR has about $30m in cash with warrants which are all in the money
GBR has 55,000 m left in current drill campagn (at $175/m = app. 10m) so lot more money to drill
GBR has now found no less than 4 high grade gold finds on its Dixie property
GBR just connected Bear Rimini and Bear Yuma finds which are over 1.5 km apart and it looks like they could be the same trend
Not only do BR and BY look connected but they have a 40m lower grade zone which is similar also.
Based on PR they are drilling about 15000 m per month
Also based on PR they have about at least 10000m drilled up to June 16th which they have not reported on or maybe not gotten the results
Reports on BR and Bear Limb are due, maybe next wee
We could get halted for a variety of reasons including new finds, very high grades some of which they have alread seen or a takeover offer.
I don't think people will want to be out of this stock on the sidelines even over the weekend.
So it is likely to close strong again today even thought it is a friday.
So my FA tells me to hold on for a wild ride, lots of cash, lot of rsuldts to release, almost every hole is hitting gold, best gold area in Canada and Mega players next door.