7 replies to this topic

[SilentOne]

I thought I would start posting the odd gold junior stock. I accumulated a nice chunk of this one sub $0.50, and then picked up more on the pullback into the 60s.

Now for you great chartists out there, what do you see? Flag's up!! Or is it a pennant. Does it matter? Bollingers squeezing. Spike up was on expansion of reserves. This is a gold producer BTW.


http://bigcharts.mar...&mocktick=1.gif

Now we need some volume and some cause.

cheers,

john

[SilentOne]

Offering anounced this morning. Good price just below market. ++++++++++++++++++ Glencairn Gold Corporation (TSX:GGG) announced today that it has entered into a bought deal agreement with a syndicate of underwriters led by Orion Securities Inc. Under the agreement, the syndicate will purchase 13.7 million units at a price of $0.73 per unit for gross proceeds of $10 million. Each unit will be comprised of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will entitle the holder to purchase one common share at a price of $1.25 until November 26, 2008. The Company plans to use the net proceeds from the financing to fund remaining capital expenditures at Bellavista, for exploration and for general working capital. The common shares and warrants comprising the units to be issued under this offering will be offered by way of a short form prospectus in all of the provinces in Canada and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities act of 1933, as amended. The offering is scheduled to close on or about December 9, 2004 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities. The securities being offered have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.

[Guru Dudette]

Thanks.

[robb]

Does anyone have any idea why ggg made a sudden turn down to the 50 cent range?. Is this the usually year end tax loss or a fund getting out? Any ideas anyone. I own this baby at . 69 and thought it was a great buy then. Personally i am still a

[SilentOne]

Hi Robb, I dumped my position this past week. The chart turned bearish and I decided to exit. I could be kicking myself on this, but having been nailed in April on the PM decline, prudence is the order of the day. Most of the junior sector has woefully underperformed in this latest rally. cheers, john

[swanstkdh]

Thank God they have underperformed. They are not getting hit like the other miners. The bounce backs are good as well. Vgz has been building a base between 3.65 and 4.35 for awhile now. (2 years)

[robb]

Does anyone have any idea why ggg made a sudden turn down to the 50 cent range?. Is this the usually year end tax loss or a fund getting out? Any ideas anyone.  I own this baby at . 69 and thought it was a great buy then.

Personally i am still a 

<{POST_SNAPBACK}>

HI Silent one,

Well i guess the environmentalists in Coasta Rica do not like mining to much in their Jungles. Read the latest news release for GGG. Your are a smart man as the silent ones' usually are. Should of looked at the chart, they never lie. Anyway, i have no choice but to be a now. Probably a good buy at this level as this the company will prevail in the end.

[SilentOne]

Hi Robb, I don't know about who's smart, I just trade and post what I see. The idea is to share and help each other on the board is where I come from. On GGG, I still like it and I don't think you have anything to worry about over the coming years. I just don't know what is in store over the coming weeks. There are plenty of bears about all of a sudden. That didn't take long. cheers, john