@Legionman, I feel our partner CNJ is back where it should be before initial Greenland results, not to market liking were released which was followed by tumultuous macro events, oversold it. Yes, it is a big rise, it may go further on speculative demand or those with profits make take them and add to supply. GSR has held up well given the macro events and fall in gold price and in so doing was operating off a higher base compared to CNJ, so in my opinion it was not a restorative percentage jump. Now both companies have been presented with a gift. But that will take a couple of months to evaluate. As such it should be an accumulation period to set up for the future.
You can see the weekly CNJ chart below the support and resistence levels which may indicate where it will rest. Same applies to GSR but GSR revenue stream from gold may put it a nose in front in the next couple of months. That maybe short lived as CNJ could rise further if their Greenland activities bear fruit. Then we may also see a surge in further high grade gold discovery in a couple of tenements GSR holds. Gold of course will return to the long term average trend as it has in the past, but while the world is upside down, trade and international settlement is down there is less demand for gold based on the BIS rulings and also because the USA is defending the free world. Then its natural for funds to flow back to the protector. Russian gold has been refused by London. The world is constipated at the moment. Just my thoughts. Click on the chart to enlarge it. The demonstrates it is entering Stage 1 of accumulation.
GSR Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
