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Bullboard - Stock Discussion Forum Gold Canyon Resources Inc V.GCU

TSXV:GCU - Post Discussion

Gold Canyon Resources Inc > To be..or not to be....
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Post by booyaaca on Nov 09, 2012 6:42pm

To be..or not to be....

yes that is the question of the year. Not sure of what to take of this stock any longer. We definetley have lots of quality gold down there, but what the fak gives?????? Is the declining sp the result of a major just flushing out shares to buy us out at a cheaper price, or is there somethign else wrong here that no one can truly grasp?? I don't know about anyone else, but this PEA is scaring the shiat out of me....what if it shows that the capital needed to get this thing going is way too high to even get the ball rolling?? I mean look at NG (Novagold) they have over 30 million oz and Barrick Gold is basically saying its not worth mining!! We can see sub $0.50 if the pea is garbage!!! I am at a loss of words. Something needs to be done here, as we shareholders are losing money every single day and we have no idea why....Fraser Mack and cormark, where the heck have you been lately?????? where is the support from the institutions that are invested in this company. I truly thought that once we broke the support of $1.20 that fraser or cormark would step in and start buying it up....I am at a loss for words here......thank God for wine!!!!!!!!!!!!! Urggggghhhhhhh
Comment by bailey2 on Nov 09, 2012 7:35pm
Sprott and Sheldon are in this thing huge. If you see them running to the exits, you know it's too late for the rest of us. If the guys with GCU are going to start to promote, you want to give strong hands the lowest price to enter. Thus , no support until the ducks are all in a row.
Comment by boyon on Nov 09, 2012 7:42pm
I don't believe Barrick is saying it is not worth mining and the feasibility study shows a significant NPV especially with gold at 1700.00. Barrick says it does not meet its investment criteria at the present because of the estimated 6.7 billion dollar initial capital investment. Nova is saying that number is a very conservative estimate and they are looking at ways to reduce ...more  
Comment by catsafterme on Nov 10, 2012 11:15am
WHINER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Comment by booyaaca on Nov 10, 2012 1:35pm
Yes I am whinning....and so should everbody...For someone not to whine about this shareprice makes you wonder why they are not whinning, no? I guess you like losing money day after day? Give your head a shake catsafterme...I have been the biggest supporter of GCU for how many years now. something is not right here, and the shareprice speaks volumes. 5 plus million oz and our shareprice is at $1.17 ...more  
Comment by diabase1 on Nov 10, 2012 3:00pm
Yes, Booyacca has every right to whine. Too bad you didn't jump aboard too Catsafteme, and whine like the rest of us. Or are you part of the problem (selling on the bids)!! By the way, Akiko is still President of GCU. Bailey2: With Sprott and Pinetree controlling over 50% of GCU, you'd think they would be promoting GCU. Are they the ones who are selling on the bids and ...more  
Comment by catsafterme on Nov 10, 2012 4:28pm
I am not losing  a dime as I havent sold. I am licking my chops at hopefully obtainig a great oppotunity to add cheap shares to my existing holdings.  My suggesion to you is to grow and get smart.  Both!
Comment by booyaaca on Nov 10, 2012 5:57pm
Typical answer....I am so sure that you are "licking your chops" every day our share price goes down...Same comments were said in the V-CAN and V-EAS boards when the share price kept falling and falling for "no reason" Don't get me wrong, I still have high hopes for this company, but the share price has to raise some eyebrows, and if it doesn't, then you have no clue ...more  
Comment by bailey2 on Nov 10, 2012 6:24pm
Looked back at Sedar,   both Sprott and Pinetree each had around 12 per cent of outstanding shares around Nov 2011. They were involved in the underwriting at around 2.35 and 2.45. at that time. I  am just starting to look at Sedar but obviously they have increased their positions since then. I think the tree is being shaken to buy up as many weak shares as possible. I think soon your ...more  
Comment by catsafterme on Nov 10, 2012 8:10pm
so if you know how the game is played, why worry?  Go along with it,  Take advantage of it,  Profit from it.  All you need o do that is confidence in the resource and confidence in their ability to extract it at an attractive cost. 
Comment by Geospot on Nov 11, 2012 12:47am
Booyaca, regarding the PEA it is generally understood in the industry that mining companies don't go forward with a PEA unless and until they are confident that they have the goods to deliver a positive economic model. Common sense. Ask around. If you listen to the conference call on the home page www.goldcanyon.ca, you will here Troy acknowledging that capital is a "nasty" word and ...more  
Comment by Geospot on Nov 11, 2012 1:16am
I was incorrect in my previous post... the CEO bought on Tuesday in the $1.29 to 1.30 range. Nov 8/12 Nov 6/12 Fierro, Troy John Direct Ownership Common Shares 10 - Acquisition in the public market 84,900 $1.30 USD Nov 8/12 Nov 6/12 Fierro, Troy John Direct Ownership Common Shares 10 - Acquisition in the ...more  
Comment by booyaaca on Nov 11, 2012 1:44am
Geospot, catsafterme, I hope you guys are right and I am over reacting here. As all of you know I have been one of the biggest supportors of this company,(way before you two have been posting on these boards) and as an honest investor I have a hard time swollowing what our share price has become, and sometimes as an "honest investor" you need to look outside the box and ...more  
Comment by catsafterme on Nov 11, 2012 12:57pm
what more could you ask for than the new CEO purchasing shares?  There isnt any better "indicator" available.  Management can only effect share price through good management and progress with the resource.  The PEA is the next catalyst.  The CEO is buying.  I would imagine he knows more than MOST about the substantive details.  This is the time to be ...more  
Comment by booyaaca on Nov 11, 2012 1:13pm
May I remind you guys that Inwentash and Pinetree were buying at $3.00 levels, but that did not make the share price go up did it?
Comment by catsafterme on Nov 11, 2012 2:35pm
you need a catalyst for share price volatility....its coming.....here are countless junior mining stock bagholders who were buying at much higher prices and those bagholders include retail, insiders, and institutions, and they are not linited to GCU by any means.  The landscape is ridddled with hundreds of junior mining stocks rain wrecks.  This stock will evalue itself at some point ...more  
Comment by Moreore on Nov 11, 2012 2:36pm
Haven't posted on this board before, but I have been picking up shares of GCU on the dips the past half a year, after watching this company since 2010.  That probably gives me a different perspective than the long term holders.  It seems to me that the company was attracting a premium before (when, by the way, the junior market was in much better shape) for the prospect of having a ...more  
Comment by Geospot on Nov 11, 2012 4:30pm
Moreore... prospects over high grade never faded, at least not in the last several years. Quinton simply changed everything when he went looking for a large bulk tonnage deposit in the portage zone that previous drilling had missed. Historically (for decades) there had been excitement around Springgole and of hitting a large high-grade deposit, the so-called elephant. See this Northern Miner ...more  
Comment by Schill on Nov 11, 2012 6:07pm
booyaaca, i think you are overreacting. The SP is not that bad as you suggest. Currently we have an in situ valuation with 135M shares @1,17 and with 5M Oz AuEq gives 31,6 C$/Oz AuEq. This is far away from any valuation of a worthless project. "But the SP was standing much higher already." Sure, but how much fantasy was in this price? 10M Oz Au? We had a mining hype and in such hypes ...more