Kyn, its hard to know if the market is convinced, when many insto's recently got their shares at $0.30, but were quickly underwater, but now.... they are not. So in some ways, I think the SP did pretty well with what I am sure is a lot of profit takers (instos) unloading. They got approx 30m shares (the other 33m is for now, with 1 holder). So it may take a while to really push through the $0.35 level. Also, its the 2nd last day that small holders can potentially sell a few shares to put into the SPP (although they would need cash sitting elsewhere to actually do so). I still don't think it will be fully subscribed, and if it is, they should simply allow all holders to have their full allocation, especially when they allowed the insto's to take more than they initially asked for.
Oh and of course, its just 1 drill hole. Def need more than that to support further share price appreciation (in regards to this particular discovery).
As for BLK, no doubt, they have had good results for almost their entire drilling campaign year on year. But the market is bored with it. If BLK had some smarts, they would actually put out a 3 year mine plan, with clear forecasts on production, stripping and costs. The market wants certainty and BLK just never gives it. They want to see them make some actually money. ha. It just shows how damn important it is to get things right from the start.... sigh.
GCY Price at posting:
32.5¢ Sentiment: Hold Disclosure: Held
