Post by
68Charger1 on Aug 11, 2024 4:05pm
FDR: the week that was & the week to come
Strange I cannot let go of the idea FDR’s share price is perpetually in blast-off mode. One day it will be true, but until then, the usual market rules apply. Higher highs, higher lows, as my old boss used to say, still marks a bull trend. And if you’re impatient for faster progress, that’s your own problem.
And I also don’t know why I forgot completely about Upper Antino. Those two drills kept running whether or not I ignored them. Producing twice as much core per day at our team at Buese, leading to another very fine set of assays on Thursday.
Does this volume of core extraction mean we’ll see an *additional* set of Froyo results before the Buese debut? Why not? Froyo and its deliciously-named sub-zones are already a well-demonstrated gold source. No need to worry about a poor market reaction from a small, lackluster set of assays. Though, I am beginning to doubt the words “results” and “lackluster” will ever appear in the same FDR press release.
Now, as to stock price. I was convinced we would see a solid breakthrough above $3.00 on the last run-up. Which didn’t happen. No offence meant to our American shareholders, but the light holiday-Monday trading last week doesn’t count in my books, since the Canadian Venture Exchange is Founders’ primary market.
I was too early on thinking we’d hit $2.50 before June 30, and it looks like I was wrong again this week. Nice to see we didn’t really sell off in sympathy with the latest stock market pullback. With equities now making a good show of fighting off the negative sentiment, and spot gold’s chart still looking strong, FDR may be in for another run at $3.00 this week. Especially if another Upper Antino hit is coming shortly.
Yes, I was wrong about Buese’s results arrival date too. But I am still confident we are in line for the Great Bear pattern of re-rating once our second major zone is “in play”.
And after watching the recent Chris Taylor interview, I can’t help but wonder if he owns a few million FDR shares himself. He was probably aware of the opportunity at the same time Eric Coffin got the call. $0.20/share with a half-warrant on a prime prospect like Antino has to be mighty attractive to guys like that who know what’s what.
We can never have enough good-hearted shareholders like those two pillars of strength. With their help, we might just surpass the Great Bear achievement after all.
Have a good week everyone.