D.:
I think that this is a buying opportunity, and we may
see continued volatility, until the next round of results
and/or announcements. Frankly, I would rather rely on
the analysis of Speculative Stocks, who have been on
this stock since last fall, and have followed it very
closely, than rely on someone's opinion who just discovered
this company last week, because of its prominent market
action, and who is now an expert on the stock.
Speculative Stocks comments on the valuation of this stock:
"We have heard questions as to the market value of the shares equating to 2
million ounces plus resource/reserve and some have commented the stock is
overpriced at this valuation. We cannot comment on that other than to say that a
mine application has been made for a million plus ounce deposit that satisfies half
of the valuation and there is sufficient evidence to indicate the BC vein carries
another 400,000 oz and the adjoining Island Mountain property has another 300-400,000oz so based on these quantities alone we are getting near full valuation. "
After speaking to management, in person, and looking at
the information they presented, I became convinced
that well below $1, this was a great buy, and way undervalued.
At $2, I believe it is fairly priced,
and a great buy below that level. Naturally, what has
propelled this stock is the new discovery, which never
entered into the picture when I bought in. As the drilling
continues, and assuming we continue to find high grade
intercepts, I believe that the stock will go much higher,
especially if one or more majors decides that they must
acquire the property.
By the way, Wayside will be in Chicago this weekend for
a gold show which I will attend. They will bring a core
sample, and it should be quite interesting to hear their
presentation.
Regards
Dan |
