re: 65c early next week
Well according to my broker it has not been Austock buying who originally did the buying for GOLDFIELDS. There was 800,000 shares sold down today which appears to be a T + 3 order as someone last Friday bought 300,000 shares at 48 and 49c and then another order bought 500,000 up to 50c. It appears that this was the stock that came out today.
The bright side is that thereis not a lot on the sell side so if someone wants to buy stock they either have to sit back and wait and hope that nothing comes out in the near future or they have to pay up. Paying up could see the price rise substantially quite quickly.
Everyone knows that Goldfields has a stake in the company and it is now up to them to make their next move. If they wait to long then they may end up paying a lot more for the stock as the resource upgrade should be out towards the end of the month. This is being done by an outside party so should be very much on the money and should dictate to where we see the price moving. Anything above the $1.5 billion that the geologist mentioned in his presentation will see a price well above $1 and possibly closer to the $1.50 mark especially if it is a measured resource.
It will be interesting to see what kind of results come back from the hole that the sample was taken out which showed the visible gold. I am also looking forward to hearing about some deeper holes as it appears that most of the holes are ending in mineralisation suggesting that there is more resource below.
The next three to four weeks should be very interesting.
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
