Gold Canyon Resources Inc V.GCU

GCU

[royalflush5]

Next key support for this stock is 1.60s and then nothing until 1.00.  It's a shame that it's back to these levels after such an impressive run.  However I must say I've seen this with several gold stock before.  What happens is that investors are no longer impressed or interested in the drill results. 

The drill results have no effect on the share price. We know that the gold is there, the question now is whether they can get it out of the ground and will it be economically and environmentally feasable?    The faster the mngmt can answer this question, the faster the stock price will get back to its previous levels.

Gold prices have little significance here because POG is still higher than same time last year.

[moneysworth]

Agree, there currently is a lack of investor interest in most junior gold plays, and a disparity between the POG and gold equites. However, in the long run, you cannot ? be "no longer interested in drill results", if you want to find out how "economically feasable" a property is? Gold Canyon has almost 4 million ozs, inferred and indicated. They have a drill program

[CarefulEye]

Justified or not, the lake issue creates uncertainty for many investors. Strong RE's are fine, but until we see a positive PEA (promised for late this year), I'm afraid there will remain a drag on the share price.

[barisian]

Regarding the lake, perhaps it worries some investors (although it really ought not to).  But what I can't quite understand by that logic is, if the lake is an issue now, how was it not an issue a year ago, when the share price was above $4.00?  How is the company worth 50% less today than it was a year ago, given all of the positive news that has since come out (and continues to

[cavedude]

CarefulEye, you claim there will be a drag on the share price. Could you please send me the 1-800 number for the As Seen on TV crystal ball you bought? No one knows where the sp will go. It could go to 1.00 or it could go to 3.00 over the next two months, who knows? Only time will tell.

[cavedude]

Its contradicting reports like this that makes it difficult for most investors to invest in gold as no one knows what to do these days. If it was 2006, GCU would have been fetching 10 bucks a share at this point. So annoying: https://www.euronews.com/business-newswires/1443426-central-banks-snap-up-gold-after-price-pressure/

[diabase1]

Barisian, you forgot to mention the shorter's eh!!

[CarefulEye]

I wish I had that crystal ball, caveman.  Of course no one knows with certainty where the share price will be tomorrow. I own 150K shares, and, like everyone else, am bewildered by the $1.00 decline in share price in only a few weeks, despite an extremely positive, relatively  high-grade RE. I'm searching for answers like everyone else.  From my personal contacts, however

[pleasureisland]

barisian.......I think you're onto something!!!!! There being a connection between the vast majority on the down slide!!!! Just a suggestion, check out mineset (Jim Sinclair)

[pleasureisland]

And it still will, cavedude!

[cavedude]

Yeah CarefulEye, the lake is an eyebrow raiser, however Im sure it will get resolved one. Hang in there everyone, its hard to digest somedays, but time will pass and hopefully a higher sp will be had.