The GRY Share Price is about to cross above the 100 day moving average which is a good basic technical signal. Low volume recently though so would be a better signal if volumes increase.
Sentiment will be the key driver though over the next period and you can get just a sense that with the gold price above US$1330 again many investors may be thinking that the sky may not be falling after all. The goldies have been hammered so hard over many months you would think that all the weak hands are out. Maybe a few investors will start chasing the SP higher for fear of missing out from such a low base.
Still intrigued about the massive board and staff cleanout/reduction/cost-cutting measures including stopping the drill rigs for the moment. Good to save cash but the massive board and staff reduction has me thinking that it is a slight possibility that the clearing of the decks and simplification of the structure and activities of the company may be a prelude to some corporate activity in the near term. Maybe a friendly merger to increase the total cash balance of larger entity and have a couple of projects to prioritise. One project to be advanced and developed with combined cash. The other to be put on backburner for development but continue exploration and resource addition.
Just maybe.
GRY Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
