Here is Al’s official notification about an upcoming purchase of shares.
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I have made a lot of money off gnu over the last five years. It is a good company and spring pole is a nice deposit. I suspect I will be in and out a few more times when gold improves.
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Why?
Meant gcu
I have noticed that Gold Canyon is being mentioned all over the internet lately after hiring a new PR firm a month or so ago. I am not saying this is a pump and dump or that it won’t one day be a great mine but whenever something suddenly gets so many mentions on so little news, I get very wary.
So I had a look. They only just had a financing at 11 cents yet they are now at 24 cents. That is already a good run. Yet Gold Canyon is many, many years away from being a mine (2019?) and has many hurdles to jump. It doesn’t even have a feasability study, has no permit and is not financed. It will be a long road for this company, particularly if mine financing and gold stays stagnant like it has been. If this goes like other promotions, I suspect many buyers will get all excited at first, the stock will have a big run (if it hasn’t already), possibly grab momentum with short term traders and then correct down hard when the hard realities of financing and more dilution happens. If you look at the volume, there was very heavy volume before the promotion at the beginning of the year. That would have been the time to buy, not now. In other words, this looks like great risk and may be a stock for a good time, but not necessarily for a long time.
Why take the risk when there are under-valued and de-risked miners that have already done the hard yards and are about to go into production in safe jurisdictions like Canada? One of them is actually a neighbor of Gold Canyon and Goldcorp (also at Red Lake) and also a prime takeout target with a deposit running right into Goldcorps land. Check it out. Rubicon RMX……it is a low cost, high grade miner with good growth potential. They are testing the mill now with first pour due in the next month or two.
Sounds good to me. I just hope we never hear that you’re giving 3 days notice to invest in this.
Urban Death Project seeks to compost dead humans to feed the crops: has it really come to this?
Learn more: http://www.naturalnews.com/049082_Urban_Death_Project_composting_human_bodies_food_crops.html#ixzz3YCL2Qekj
Never will, Eddie!
There’s already this…
Human sewage is already used as compost for food crops
Learn more: http://www.naturalnews.com/049082_Urban_Death_Project_composting_human_bodies_food_crops.html#ixzz3YCLMAY00
Watch out for the pump and dump this is the prime sector for this. Insiders love to screw people. Bloomberg and couldn’t believe it. They were pumping coins and and pushing about the protection from inflation. Why these guys are doing this this is a warning. Gold is more a protector of deflation. Experts say that gold could double they said. I laughed like hell. There are no experts and no one can predict the direction of gold consistantly.
Fair enough, Bill.
A company like LRE is actually producing something and proven. GCU is mining nothing. Gold price needs to go higher and it may not. I bought it cheap then blew it out in the hay day. It’s was spec. Just like Bob the goof Moriartys Novo. Read all the history on that pump and dump. Just a hypester.
I am buying it, simply because I happen to believe. Nothing more an nothing less.
Hey Al, I don’t think there is anything wrong with believing and there is nothing wrong with investing in a spec play. You don’t say, but I suspect your investment is a very small part of your portfolio.
However I do think there is something wrong with saying a micro-cap gold miner with no permits and no financing should be considered as a “core holding” as Cory has done. This is irresponsible.
Sorry, I didn’t mean to single out Cory….
Look into Gold Canyon’ s history. I think it is a unique situation. Depends on how a person defines “core”‘
Fair enough Al. It’s a pretty serious spec though. I want to see cash flow on something with solid demand on the product being produced. I could talk people into selling the high and they rode it down sadly. The 2000 gold bull was an easy call. Not so now. Best of luck indeed!!
That was couldnt talk.
Bill; good points. I looked at this company as well and would rather buy a producer at this point in time. I have one stock that is a junior that is an exploration stock but that’s about it.
Hi Doc. Yes we are not in a bull market in commodities. So if you want to keep your money, exploration is a burning candle at both ends. I think oil can go a bit higher but that may be it. It was a good time to buy some beat up plays maybe for a long term view or even a quick trade. Cheers.
Doc, are you still bullish on Meraculins?
Congrats Al!
On the topic of cashless societies, here’s the latest “development”, curtesy of Zero:
http://www.zerohedge.com/news/2015-04-23/largest-bank-america-joins-war-cash
Best to all,
LPG