A long time ago, in a far off place, I remember trying to warn about the nature of this penny gold stock. People like the famous voice of Darlene used to laugh about the potential of it going to .10 before the reverse split. So why is it dropping? Simple, it is a penny gold stock with all the problems associated, hype, costs, information which is promotional and not realistic etc, etc. Stuff that has gone on in Vancouver (where I lived most of my life) and which I have experienced and am knowledgeable about. Now, some promoters see new fertile ground, with an even bigger boat load of fools, and its down your way. If you cannot get the picture about this company from reading thousands of posts, hype, nonsense, and the chart (which tells the real story) then what can anyone say or do.
I know the big mother load is right around the corner. Nothing changed here, only a new group of people, to feed money to what appears as a major loser and a very typical promotion. Don't worry I have had my share, if it gives you any comfort. Undervalued - no.
Probably toast, yes. If you are looking for profit in the golds, buy the ones with proven resources, money in the bank, and at least a partial hedge. These could be major winners if the price of gold moves up. If not they will at least survive. As far as junior exploration plays - there are many with much more proven up and far greater potential than Bush league mining.
Eric |
