Not exactly sure about what you disagree with: here is what I said:
"No news coming out after the market on a Friday night can be considered the news you really want to hear. GCR have hit more nickel, that is good, the intersections are smaller but more concentrated ,the story is intact, investor expectations, not intact."
1. This intersection simply does not compare to the first, and it came out on Friday night after the market closed. FACT.
2. Nothing in my statement denies that GCR can deliver in the end, ie: "story is intact".
3. As for investor expectations the price action tells you they but I made no comment on that.
Now I appreciate that you believe GCR has merit as a company and on that we are agreed. Where we may in fact disagree is that I do not think their record of success precludes them from sharing the responsibility for some of that speculative fever. Mr Hughes was very bouyant on BNN TV the day after hole 6 was released, a TV interview that was a promotional coup and speaks to both his track record and perhaps also an undeniable talent at getting the story out.
They never released assays on the first 5 holes, which had no more than whiffs of minerals, just splashed the discovery hole. So, selective disclosure makes them the storytellers. They then halt the stock for nearly two days to announce "visuals" on the next hole. Ir tells me at the time, no idea why they are halted just that management are deep in meetings. Meanwhile, they still have not released assays on holes 7, 8, and 9, which were drilled before GCL 07-10. Why not? Good or bad are they not "material" ? Selective disclosure again. GCL 07-10 by the way is only a partial assay as there is more core yet to come, so they did not even wait to release one complete hole at a time.
It is not GCR's job to try and control their stock price, it is their job to conduct the business of the company honestly and responsibly. I see nothing in how they have handled things that in any way discourages speculation in their stock.
I don't know if they will release 7,8+9 or if we are just left to assume they are barren while they drill elsewhere, don't know when we will see the rest of hole 10 either. Keep in mind
there are results due any day now from Abitibi East, VMS holes which are pretty good at showing if they are in the host rock.
Personally I think they are trying to manage investor expectations ie: stock price, and are in a much better position to know the longer term prospects than we are right now.
I took profits but continue to hold, Monday will be very interesting indeed:)
Cheers,
Ogi |
