drifting lower on easton concerns

With buy depth gutted and no news likely till February on consummation of the $6m Easton deal, GDN looks as though it'll fall all the way back to old resistance around .024 cents.

In a way that is ridiculous since the worst that can happen is that the rich Leonora prospect remains in the company's hands (the SP chafing at 6 cents at that time) but it perhaps underscores concerns over cash reserves in the absence of any deal (Easton is worth around .043c/share).

That's the strange thing about market psychology: raising hopes that cannot be immediately gratified can have an adverse effect and lead to a disproportionate backlash.

Ah well; the patient may well be rewarded yet and those betting on a successful outcome may be waiting in the wings to pounce on some cheap shares.

I've sold a few but hold a whole lot more and intend to wait and see.

Gupper.