GCR - Golden Cross Resources

[nunthewiser]

heres my luckydip entry ..maybe 3.3on a quick dip , 3.4 base...will bounce from here , i do not hold and only relooked at gcr just then because your thread caught my eye , back on watchlist and maybe an entry with a low % loss on current entry points , thanks for pointing it out again

 

[Pat]

Thanks for your good target suggesting GCR could stabilise at 2.5 cents

I am hoping to top some more then after buying them at about 5 cents very recently.

2.5 cents is just a number on the chart. I doubt the SP will fall so low. There is still interest in the stock, judging by volume, I bet when Legend have some news GCR will be running again.

As YT said "give it a few months to play out". "Time in" not "Timing" (wish I could take my own/and others advice )

 

[YOUNG_TRADER]

Hmmm wel whats funny is I thought 4c would act as good support and it was brushed aside without a thought, same thing on the way back up the other day,

I didn't see 3.4c as support but now sorta do given how its not really getting sold at that level

I actually thought 3c would be supprt, arghh who knows


I know the Agri's have all sorta softened but GCR deserves more,

Time will tell

 

[Datsun Disguise]

Too early to make a call on any kind if support here. If it does bounce off 3.4c tomorow then you may give it a p50 that this is the new support level, bounces off it again and maybe p70 (these are my own ideas). Charts like this always worry me somewhat - driven up by day trading - peaks sell off, the sorta believers hang on for a while longer then sell off (I think if it doesn't bounce off now it will head back down to the mid - high 2c range - then it will be true believers left and then the speculators will start to enter again.

The psychology is just as important as the fundamentals in short term scenarios, fundamentals will win in the end though. Especially in a climate like we've got now....

I'm here for a long time or a short time so long as it's a good time!!!!

Lets see what my is worth in a couple of weeks.

 

[Datsun Disguise]

Thought I'd put some thought into the chart.

The old support lines are a bit irrelevant now given the recent break out, they may re-establish themselves in a little while unless some news (GCR's or others) revs them up a bit. But what we do have is a few levels of resistance to look for on the way back up. The bearish channel (I'm not going to argue for the droopy pennant formation) is narrowing due to the highs decending quicker than the lows but not really enough points to confirm anything.

Still a waiting game now (if you've got the patience) but if the fundamentals are good you'll all be ordering those audi brochures at some point...

Good luck holders.

(remember to keep an eye out for the 'black swan' formation - look up the thread for an explanation)

 

[Datsun Disguise]

Here's the chart - didn't attach last time....

blah blah blah blah
blah blah blah blah
100 yet?

 

[Uncle Festivus]

FWIW, I have an 'oscillation' level of 3.9, of which it is currently undershooting, similar to a decaying sine wave. Also the Ask/Bid volume ratio has been improving every day now from around 0.45 last week to currently 0.53 (bullish/better). A reluctance by sellers to sell past the prevailing bid today @ 3.4 as by the low volume is a good sign too? Time to sit at the bid and wait I think? Subject to the general market and further good announcements.

 

[Fed23]

Are they ever going to release any info on their project in canada? From what I read in the presentations they say it ahs huge potential.

All the news has been about Mt Isa and Legend with the odd one on panama.

 

[Fed23]

As well has anyone looked into the JV at Kempfield with ARD?

They conducted VTEM tests and come out with positive results (dont take my word for it casue I cant read or understand any of it) and Sunny Corner looked better than Kempfield.

 

[Miner]

what is happening with GCR now ?
This thread used to get postings at least ten times a day and for about 5 days there was no posting here.

 

[Fed23]

Miner there is no news to report.

Those guys havent reported on anything, await legend drill results, trying to get it JORC, ARD drilling. Panama no idea whats happening there, no idea with canada either. Lots of projects but no news

 

[Miner]

Miner there is no news to report.

Those guys havent reported on anything, await legend drill results, trying to get it JORC, ARD drilling. Panama no idea whats happening there, no idea with canada either. Lots of projects but no news

Thanks Fed23 for keeping the thread alive and let us hope "no news is a good news" .
The market is going to be volatile this morning with little support from overseas as well as domestic due to power crisis in WA.

 

[Datsun Disguise]

Too early to make a call on any kind if support here. If it does bounce off 3.4c tomorow then you may give it a p50 that this is the new support level, bounces off it again and maybe p70.

Looking for a bounce off 3.4c if so then support is looking ok at this level. Not sure if tracking sideways is an option for this one, either up or down.

 

[goldmandane]

GCR regains control of Mulga Tank nickel properties
Newport Exploration Ltd (TSX:NWX) (“Newport”) has withdrawn from an option agreement over the Mulga Tank nickel properties.

 

[adamim1]

This announcement has not effected the share price at ALL.

Volume is ridiculously low. I wish this one would pick up.

 

[Whiskers]

GCR regains control of Mulga Tank nickel properties
Newport Exploration Ltd (TSX:NWX) (“Newport”) has withdrawn from an option agreement over the Mulga Tank nickel properties.

Might be a blessing in disguise when the nickel stockpile runs down a bit and prices pick up again, particularly if they can hit a couple of good drill holes.

They started drilling last year, but abandoned it due to the cover material being too hard for the rig they had.

 

[YOUNG_TRADER]

Looks like anohter possible project to GCR's already very strong BOW of prospective projects,

Unfortunately its Laterite and not Sulphide (I'm assuming given the grade sub 1%)

GCR now has the opportunity to explore the substantial 4.7 km x 3.2 km Minigwal Dunite (peridotite) intrusive body at Mulga Tank, which has potential to host a major nickel deposit of the Mount Keith style (517 Mt at 0.54% nickel).

 

[Miner]

Extract from Eureka Report for those who do not subscribe (please visit eurekareport.com.au for the full report and trial subscription for free is also available)

Phosphate and nickel plays: Tim Treadgold finds more manure than real phosphate out there

In the world of phosphate, soaring prices for fertiliser has sparked a rush across the country, triggering the release of drilling data from booms past – and earning a belated set of warnings from stockmarket regulators that everything old is not necessarily worth what it seems.

Two high-profile phosphate hunters, Minemakers and Golden Cross Resources, have been forced by the Australian Securities Exchange to retract reports quoting old exploration data because it fails to comply with reporting code of the Joint Ore Reserves Committee (the so-called JORC-code).

In a re-run of the early stages of the uranium boom of three years ago the phosphate explorers have been so keen to tell the world that they have their foot on an old discovery that they appear to have forgotten that the reporting rules have changed.

It’s a sobering suggestion, but if anyone can bothered to look back at those early uranium reports most of the companies involved have seen their share prices crash.Last week (June 10), Minemakers was forced by the ASX to issue a correction about the classification of resources at its Wonarah project. In nutshell, the data used was old, and although there is no doubting the presence of a large resource of phosphate, it is not technically up to modern JORC-code standards. Minemakers lodged a 39-page report explaining its position, including a geological report from 1970 backing up its argument.

On the day of the correction, the Minemakers share price slumped from $1.95 to $1.72. It is now back to $2.02, still well short of the all-time high of $2.95 reached on April 18.

Golden Cross found itself in similar hot water to Minemakers, issuing a formal retraction to “all quoted tonnages and grades of rock phosphate” at the joint venture Mt Isa area it is exploring with the US-based Legend International, a company closely associated with Melbourne company director Joseph Gutnick.

The first report on the Mt Isa project was lodged late last year, but the formal retraction which followed a stock exchange query, was only made on May 30.

Golden Cross and Legend plan to start re-drilling their tenements soon.

 

[Fed23]

So Legend is drilling to get the tendment to JORC standard or to see if they can find additional resources?

And when could we expect to hear about legends drill results?

 

[adamim1]

Ahh this company is killing me. I bought at 4c.... hoping this thing takes a run soon. I'm on the verge of cutting my losses and moving on.