Bakerville is a small place in BC. Once upon a time, about 1860, it was the largest town north of San Francisco and west of Chicago. It was the focus of yet another gold rush along the Western coast. This company has a big stake a little north of this particular spot, so one can say with absolute certainty that there is gold in them mountains but, and this is the question, how much? Well to start, 10.6 mln. indicated ounces at Cow Mountain, an Alpine setting that would make Julie Andrews do one of her favourite things. Furthermore there was, according to a company statement, geological potential for , possible, 90 mln. ounces at the mountain. An absolutely huge amount. Some have expressed doubts about the methodology used and therefore the results but I am gullible to a fault and just look at the waves;
It is good to start off big as it puts things into perspective, especially if your newspaper only shows a chart the size of the little square in the bottom right-hand corner. There are a few points to wonder about. What happened during the 4 years the stock was AWOL? And then the last 6 years the stock shows no pulse at all. Needless to say, the stock was never really at 12000, that happens only due to reverse splits.A chart from the G&M reveals that there is life;
From the low of 15 cents in 2008 the stock moves up in a perfectly clear A-B-C, counter-trend, correction. Ergo the stock should trade below 15 cents someday soon. There is no plausible alternative count that I can see unless one assumes a “failure” in the latest leg down in which case we could conceivable have just started a new bull. I would tread carefully!