Hello, is there anyone out there? Why does this stock normally trade with such low volume? Is everyone just sitting back waiting for the permits to be acquired (or not acquired?). I have read many posts and I agree that the potential for this stock is outstanding. I just can't understand why more folks aren't watching this hummer. If it's true that the cost to mine is around 15 bucks a ton then this stock is going orbital later this year once the permits are acquired and the feasibility study is completed. I would appreciate any comments that you'all have. N_ergy
I don't normally post, but I thought I could shed a little light on your question, as I recently spoke to the company about this point.
The AMEX listing isn't enough to get this stock going. They need the Toronto listing, too. Apparently, in the US, resources aren't assigned any value until there is a solid feasiblility study behind it. Not so in Canada. In fact, according to the Vice President I spoke to, a fellow named Dobbs, their peers are being valued at $3 per M&I oz. while their oz's are being valued at only .30 cents. Once they are listed on Toronto, they expect that some of this discrepancy will be amended. Let's hope so!
The listing on Toronto could be approved any day now, though they expect the latest to be trading in Canada will be Jan 1.
They also expect the pre-feasibility to be complete by early January and announced then.
The next step is opening up the old tunnel at both ends, which they need to do before the final feasibility can be completed. In order to do this, they will need to raise some cash. And this should be sometime in the spring.
Then it's on to the final study due sometime in the third quarter of next year.
The stock has been a little tired, but this recent drop may set it up for a break of the recent highs, should gold make it past $500 and stay there. Chart-wise, it could go to $11 if gold continues in the short-term to the upside and silver break above $8.40. There are not many shares out there, so the volatility to the upside could be significant, especially when new interest enters the picture.
I hope that helps. It's all I have to offer at the moment.