   | |||
The Market Rewards Big Gold HitsBob Moriarty The gold market has been tough and unforgiving since a minor rally that ended last February. However the summer drill season in Canada is ending and assays starting to flow. After a long sojourn the market is prepared to reward big gold hits. Three weeks ago I wrote about White Gold. The stock was $.58 a share. They have released excellent results since then. More results have just come out showing 23.44 g/t gold over 24.4 meters. Those are world-class numbers. The stock shot up to $1.70, a 193% increase in less than three weeks. White Gold has done a wonderful job of communication with their shareholders. Another company with world class gold hits but not nearly so good at communication would be Great Bear Resources. In late August they released results showing 16.35 meters of 26.91 g/t Au and 7 meters of 44.47 g/t gold. The stock shot up like a squirrel climbing a tree with its tail on fire, going from $.58 on August 20 to a high of $2.35 on September 13th. While a 305% increase may seem like your birthday, Christmas and Veterans Day all rolled up in one, in my view the stock should have gone to $5. They have 27 million shares. The market tends to agree with me, the shares have settled back to $1.80 apiece in spite of even more barn burning results released on September 27 of 1.75 meters of 101.05 g/t gold. Few companies get the communication right without outside help. Companies such as Garibaldi over promote and set their investors up for a “buy the rumor, sell the news” collapse of 50% as just happened after they released what appeared to be good news. Great Bear has a market cap today of $48.5 million while Garibaldi has a market cap of over $180 million. Both are absurd, one low, one high. Great Bear is in the Red Lake district and has a mine just waiting for a mining decision. Another company that the market seems to have overlooked excellent results would be Westhaven Ventures. I’m not a big fan of their website, it’s hard to navigate and find things. But they have delivered wonderful results from a 10-hole drill program at Shovelnose showing 1.65 meters of 175 g/t gold with 249-g/t silver. Further results are pending with release in the next week or so. The shares did not respond to the news which is interesting. White Gold is an advertiser, Westhaven and Great Bear are not. I still own shares in White Gold and Westhaven. I sold my position in Great Bear. Do your own due diligence. White Gold Corp Great Bear Resources Westhaven Ventures ### Bob Moriarty 321gold Ltd |
Copyright ©2001-2024 321gold Ltd. All Rights Reserved