Post by
buyingitup on Aug 17, 2010 5:46pm
Update from Foundation...
Received a response from them today. There's no plans to touch San Rafael at all this year. They will be focusing on Coldstream and Coldstream alone to prove up the resources. In my opinion, they had better hope for equal or greater results on the last 50% of Phase II than they had on the first 50% of Phase II or else this thing will be getting dumped in to hell.
I have bought all I am going to in this play. My last bid was at 31 cents which of course filled and then this thing tumbled back to 28 cents. Good news is bids are building again at 29 cents and the ask is 31 cents so any buying will increase the price from it's current position. But bottom line is this thing is going nowhere and it's going to be one of those long holds. I think in the end, as long as they can prove up the resources at Coldstream and start doing the same for San Rafael, we will see our day. But until then, don't look at your bank statement, unless you want a heart attack.
I'm still optimistic on this Phase II drilling and I expect great results. But you never know.
Comment by
Weiner01 on Aug 17, 2010 6:28pm
Buying itup, they havent release the results on the first 50% of the phase two drilling. They have released three holes. I imagine they will be releasing results over the next two to three weeks. Like you, I am hoping that they are as good or better than the first phase drilling. With 8000M of drilling, there has to be some good results in there.
Comment by
buyingitup on Aug 17, 2010 7:19pm
Yeah...but the first 3 holes were great and the stock still sold off. So I'm a little concerned, but hopeful that all that meant was that investors were waiting for more results to see if it was "too good to be true" or the real deal.
Comment by
Weiner01 on Aug 18, 2010 10:22am
I imagine people are waiting for more results to prove Coldstream is the real deal. They already have a none 43-101 of 234,000 oz, that is a great start. Just need to prove it up.
Comment by
trendisafriend on Aug 19, 2010 1:08pm
Buyingitup, I think the stock sold off as the market was the weakest in general at that time. The venture market has gotten much better since then, and I dont think releasing news in September is the best thing in regards to news flow. One only has to look at the share price, to see the interest. We are now sub 30 cent level.