Hi many believe share price will go up a fair bit more, the location of the well seems to be in a better position since better gas shows then at pb1 at similar depths. They also say better positioned for the deeper targets so success at the deeper targets could see a decent run happen on the share price.
The volume the last 2 days shows a lot of traders are in the stock after yesterdays news so a good chance it will get pushed up, also have options exercise at 20 cents and gdn has a habit of being able to get it above 20 cents to get them exercised since a lot of money for gdn when they do. The results at this depth on the first well hardly moved the share price more than 2-3 cents but it was trading around 25-30 cents at the time it was when got deeper and reported major intervals that over 5 days increased by 400% but they were talking up leadville a lot back then which encountered water when finally got that deep. Leadville is still a major target so if they can get there with no problems could see moves up to continue until they get there. That is why high numbers are being mentioned but the well has to be drilled without problems and continued success for the price to move up to those prices. So far everything is going better then expected so the price should atleast in short term move up more.
GDN Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
