Well, we tweaked up another 0.1c today to finish at 2.3 cents and now solid buyers at 2.2c. Not enough of a jump for the buyer to cap down proceedings at the end of the trading day, and anyway, there seems to be more than one active buyers now.
9 million volume today, a little down on Friday and given the general red for gold shares more good signs for GPR. I could easily be more than one seller so no idea how much more to be sold at these levels. It might be an ex KGD holder happy to take profits and/or a buyer from the recent capital raise taking some handy profits. The positive is that buyer demand of late is outweighing seller demand.
Over the weekend I did do a check on the closing gold price on Friday for shares on my watch list compared to a year ago and IMO GPR can run a lot more. It's actually down compared to a year ago. Sure we have had some dilution through a capital raising but look at this comparison.
GPR 2.4c 2.2c -8%
RSG 1.36 1.995 +47%
EVN 5.46 2.93 +86%
NCM 38.62 21.05 +83%
RRL 6.05 4.24 +44%
NST 13.27 7.47+77%
SAR 4.57 1.94 +136%
I have been a holder for over 3 years now with early buys around the 5c mark. Fortunately I picked up quite a few at 1.2 to 1.4c so my break even is 2.45c. There have been numerous short term jumps in price but no sustained run over the three years.
With the AUD price where it is now and a finance deal not far away, we are potentially heading into the first sustained run for GPR since I became a shareholder. It has nearly been a month already since the low of 1.5c post issue of the 150,000,000 shares.
Looking for 2.5c next (personally!) to move into the black then 3.0c to set a new 52 week high.
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