GDN 0.00% 1.7¢ golden state resources limited

approaching breakout point

  1. 749 Posts.
    Contrary to my expectation that the SP would consolidate around .044 for a week or two, it has barely paused for breath and hit .046 this morning. Charts suggest the real test will be a close above the .052 cent level. If this is achieved in the next week or so, the stock could be in for another of its soaring runs towards its 52 cent high.

    Having jumped in mostly for chart reasons two months back, I find myself increasingly drawn to the stock's fundamentals. It has good ground (check recent assay results from Leonora) and has announced it is actively seeking JV partners to speed mine production at its most promising sites. IMO the company is in considerably better shape now than when its stock was ten times the current price. Market sentiment is a fickle thing but it seems GDN has returned to favour.

    I have heard others tip NCM as a potential bridegroom but stress that I cannot confirm this. Does anyone have an update on JV negotiations?

    TIA,

    Gupper

    I hold. Prospective investors are reminded to conduct their own research before making any decision.

 
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