GBN.V Monthly

While we continue to await a resumption of the gold price bull market, aggressive naked shorting continues in the stock.

The majority of traders here are naked shorters, trading back and forth, price fixing on a daily basis without respect to regulatory requirements. There are some buyers, but they are far and few between. Or perhaps regulators have given the nod to favour financialization and decided to throw mining companies under the bus.

On a day where bonds rally, the stock, of course sees a decline, though it closed on a very long term trend line in the weekly log scale chart. The same trend lines are in evidence on the monthy linear scale chart.

We are still in a very long term broadening pattern and consolidation of the stock, which if it breaks to the downside, that means the company will revert to infancy. The downside limit of the price is only 7.5¢ lower and perhaps 30 trading days away.

I have a very hard time understanding the drastic curtailment of production in 2012 and lying to the shareholders about it, and not keeping them informed at all, if it were an attempt to avert any decline in the stock, which probably contributed to its decline anyway.

Or perhaps they gave up on their gold price pessimism and made huge, overly aggressive assumptions that the gold price would advance spectacularily, so they decided to clean up all of the low grade material at hand and stockpile high grade material during the price correction. At this rate, they will be running out of low grade ore and have to sell condos on the mountain of high grade stockpiles to keep operating at a loss.

At any rate, its unlikely to see anything postive out of Netolitzky and cronies since they can't come up with anything better than hints at what they're doing, lying during presentations, and parading around with dore bars in their hard hats after the first pour.

supersize:

http://www.flickr.com/photos/11747277@N07/8446160680/in/photostream/lightbox/

http://scharts.co/P5qOWY

-F6