BottomWe must be getting close to a bottom. VSR has lost 40% in a matter of a few days from
its high. Its been straight down as sellers keep pounding the bids relentlessly. As for what
its worth, its based purely on investors convictions and they are changing daily. The sellers
have the upper hand and they are setting the price.
The question for me is, what has changed. Is Nelligan a bust? Is it all over for gold because of
todays correction? Nothing really has changed except suddenly there has been a lot of doubt
expressed in mgmt and then a lot of selling which then creates more selling. Fear of profits
eroding is a pretty powerful incentive and so it comes down to shoot first and ask questions later type mentality.
My analysis is the only thing that has changed is the stock price and the level of conviction. If
those assays were to come out tomorrow and they are as good as we think they are, then a major
reversal in buying and conviction would happen. Its all about mass psychology and herd instincts
and those can change on a dime. IMG has not given up and they are drilling with no let up.
Nelligan may take longer to develope than some people would like but if it ends up being a
10M oz deposit in a mining friendly district, this is definately not over. PG is a force to be
reckoned with and is obviously very unhappy so I would expect some changes to take place
on the BOD, which will be to the benefit of all shareholders.
GLTA:MS