GTE has recently commenced a drilling campaign at their Yandal West Gold project. It is expected to take 3 weeks with 2 weeks further for lab results. Timing of newsflow should see an update in late November / early December. Success from nearology or neighbour EAR (Echo Resources) saw their shares move from 13.5 to a top of 26.5 recently, hopefully GTE will have some success too.
Technicals -
GTE has a long base (since start of year) ranging from approx 1.2 to 1.7. Recently larger than average volumes have been entering the stock which appears to be accumulation prior to drilling results (soaking of 1.1 placement shares from earlier in the year)
Trading plan -
Stop at 1.2 (bottom of the recent range) or should drilling outcome be a failure. Profit take at 2 or sell into possible gap up on positive drilling results (whichever comes first on the upside). Always have a trading plan prior to entering your trade.
