Share Price Discussion, page-148

GDXJ topped on the 5th of August and bottomed on the 11th of August and has consolidated between those points ever since



MZZ topped about a week earlier and bottomed on the same day. But all in all showing similar chart structure.



Gold topped on the 6th of August and bottomed on the 12th of August (same day low for all 3) and has consolidated since



In the absence of news which should be due with first batch of assays in the next few weeks MZZ will trade as a beta of gold/GDXJ. Once news starts flowing ideally we start trading on our own merits.

Just as a reference here is also a chart of CAI (not held) which I think is a solid developer but has also had a bit of a news gap. It topped 28th July (same day as Matador), initially bottomed 14th August (2 days later) and has undercut that in the last few days. But overall showing similar sort of structure.


We are waiting on gold and GDXJ to break out and take a next leg higher and/or drill results to start flowing.

That being said Ian Murray is presenting at a conference in North America today with the other Newfoundland players which might get some more eyes on the project. We have one of the biggest land packages and smallest MC's of the group + top class management team.