I trusted my intuition yesterday and bought another 20,000 GBB @ .75 cents thinking news will be out any day and I was spot on..however I never would have believed that I would take a huge paper haircut like this today, however you only lose when you sell right.
If I thought it was a buy yesterday at .75 cents, then it is on sale at the current levels and buy a few more and average up.
I think when people digest the news release, which I thought could have been written much better and focused, we will see the market pick up and savy investors realize the "true potential" of GBB.
My first impression of the news when I sped thru it was this is great news and adds millions of more ounces to the mine..which is what we are looking for here. You don't need stellar holes on every hole drilled, however low grades add to the size of the deposit...like Osisko's. Millions of tons of material with lower grades makes a mine.
I believe that tomorrow we will see the price start heading back to the .70's before long and a lot of the shares that were bought today went into strong hands. Jordan and Canacord sure do like this play and I would bet that a lot of the buying will be by these two houses.
My thoughts only and remember that more assays are on their way and drills are drilling full time.
When there is fear..that is when there is money to be made.
Mintaka