The ‘short’ elasticband has been extended almost to its limit. Not much more to go. Afterthat, the elastic band either breaks (company goes bankrupt) or it springs back(shares go to the moon).
Not sure where it’sgoing to go. Jitney Trade in Montreal thinks it’s going down more.
One thing thatinterests me is that Sheldon Inwentash/Pinetree Capital bought on the openmarket 100,000 shares of GCU at 2.94 on Nov 16, and the next day (Sheldon Inwentash/PinetreeCapital) bought another 50,000 on the open market at 2.80.
From that point on,somebody (Jitney Trade and others) have been ‘forcing’ the share price down.
It doesn’t matter. That’s the market. But if Sheldonthought the price of GCU was a good buy at 2.80 and 2.94, why isn’t he buyingat 2.24. I wish that I were a fly on the wall in their office. Just kidding!!
Personally, I thinkthe Springpole Lake deposit will end up being a great, low cost, open pit goldmine. The gold zone is located over a very small portion of Springpole Lake.With the environmental aspects of such a change in this area, which I agreeshould be addressed to, before anything is done; it will be an important issuein the overall process.
Keep in mind too, thatsome of the great gold grades are also found on land ,to the north of Springpole Lake, so this areawouldn’t have the same environmental (to be drained) mentality.
This is an exciting typeof gold deposit and I don’t believe that it is anything like your typicalRed Lake gold deposit, like Goldcorp’s in Red Lake.
However, witheverybody coming together, including all factions, who would benefitfrom this gold deposit, this great gold deposit can, and should be exploited,with minimal environmental affects to surrounding area.
Heh! Don’t think thatGoldcorp is not looking at GCU as a takeover target right now. Why not? It’s inGoldcorp’s backyard. But why not Barrick, Agnico Eagle, Kinross etc etc etcdown the line.
At 2.24, watch GCUclosely!!