via BNN.ca - Proxy Battle Over Eastmain

The most important news this week was the proxy battle raging over Eastmain, who was unable to raise capital for their gold project. Robinson appears very disingenuous attempting to explain the lack of results, and the Columbus Gold proxy fight appears like corporate brinkmanship of the kind we saw in the 1980's in the La Ronge Gold Belt.

Even though you have the largest gold investors on Wall St. participating in the stock, their ability to raise capital is duly impaired. Should GBN.V come up with financing, as I presume, investors will drop mining stocks like Eastmain, or seek out more viable gold prospects.

It appears overall that financing is THE key issue in gold mining, not whether you can come up with drill cores or argue until you're blue in the face over the geology.

http://www.bnn.ca/Video/player.aspx?vid=838918

http://bit.ly/1MHwCtS

via TMXMoney - Delayed Market Depth By Price Summary

If Netolitzky is the buyer of shares daily, sometimes in the millions of shares, then his average price aught to be in the 15 cents range as he had probably doubled his holdings in the company during the no bid period.

In order that he recoup his losses yearly, he would be paying himsel a dividend of 15 cents/year.

For him to arrive at billionaire status, he probably needs a $15 share price.

Right now, given that costs are probably $40m. a year, and that The Mint is taking in $220m. per year in gold, that would put the stock around $6/share.

http://bit.ly/1qagLdH

via Bulkowski - Falling Wedge

Odds are on that gold prices in the daily chart are forming a roughly approximated falling wedge, above what was previously a high and tight flag or triangle:

http://thepatternsite.com/fallwedge.html

http://schrts.co/8PAOTz

-F6