Targeting multi-million high-grade oz. in Quebec

Windfall Lake Property, located near Val d'Or, Quebec: Indicated 538,000 oz. (10.05 gpt) / Inferred 822,000 oz. (8.76 gpt) (July 2012)

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Message: Steady Downhill

Well so far as I can see the company had a news release stating that they were cashed up for the drilling starting in the new year; so it doesn't look like we are being forced down for a PP. And I think that news release was the company's way of saying that they think the SP has gone too low. But we did have two sets of warrants cashed in; so lots of new shares around. There is a bit of uncertainty because Murgor is no longer in the picture except for Tessier of course and Jean Philippe still being there. The worst thing for the SP(IMO) is the lack of news flow or even potential news flow because they are not drilling. As we get into December and get closer to drilling in the new year I expect the share price to firm up as there will be more speculatve value in the stock when they are doing something to speculate on. I can't say I'm exactly ecstatic about this situation either. Problem is gold is (usually and with due deference to Jim Sinclair) seasonal; so I can't say that EAG management sitting on their thumbs during the strong season was very well thought out. I still think there was some kind of coup d'etat there with Murgor which is OK with me except I wish they would have had their coup d'etat at a different time of the year. And I wouldn't mind knowing a bit more about Murgor leaving except for Tessier and Jean-Philippe but I guess that is for the insiders to know and not the plebians. They said the contract was not renewed after one year but I don't recall that the contract was for renewable one year terms unless they forgot to tell us that. Oh well I think Murgor has plenty to keep them busy without EAG and judging by their recent share price action they are probably better off concentrating on their own stuff rather than getting a paltry ten per cent management fee from EAG. And don't forget that it is hard to hold onto a stock that is going down when everything else is going up. Maybe you can sell and make the money back somewhere else and pretty darn quick too. (And maybe not too.) But look at Murgor, down to nine, ten cents and now it hit twenty-six and a half today. Nobody wanted it at ten cents. I know I'm kicking myself. I think EAG might be a similar bargain today. And i don't want to be kicking myself again. Anyway barring some kind of general meltdown in the markets which is always possible and given that there will still be a bit of the strong season in gold left when they start drilling the share price should start to firm up from here or pretty darn soon anyway. That is of course is if it doesn't go down any more because the share price did hang around fifteen to fifteen and a half for quite a while; so there could be some kind of attraction to that price. I hope this doesn't happen because then I would have to buy more and my financial advisor says I already own too much of this stock. Anyway I hope you are satisfied with this answer. JMHO.

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