Re: dr fill repsonse CJ, Moots..
in response to
by
posted on
Oct 29, 2009 08:09PM
The Company's Eagle Gold Project in Yukon Canada hosts a National Instrument 43-101 compliant Reserve of 2.3 million ounces of gold.
CJ, Moots..
My post was positive, not skeptical.
I'm saying that even with all these downside pressures on the stock it's only covered 1 cent of the gap- i.e. it's very strong.
I was countering the claim that the action of the past few days indicates weakness; I'm saying that there's nothing in that action that indicates anything but resistance to the listed down pressures.
I think I understand why Chad isn't adding more drills to Santa Fe - it's about the burn rate, a timing strategy, and effective application of resources. And I wasn't suggesting that VIT is just another junior- quite the opposite. But now that I think of it, there is a % of VIT shareholders who might perceive the decision to not add drills as weakness and this would contribute something, however small, to selling pressure.
Lastly, I was suggesting that even if we go down to the high 50's there's nothing negative in that - it's just normal behavior for any stock after such a big increase in market capitalization.
On the cautionary hand though, anything can happen; Gold might take a tumble as many "pundits" are now anticipating; Gold nosediving would be the ebbing tide that lowers all ships, probably even the good ship Victoria. But that's just a possibility.
Looks like I didn't compose that post very well; you guys came out of it with an understanding exactly the opposite of what I intended.
Summing up: There's nothing in the SP action yet that indicates anything but strength.
P.S. I think Chad's going to blitz VIT over the next few months.