The market is clearly excited by GoldQuest Mining’s (GQC, TSX-V) discovery in the Dominican Republic, and rightly so as we have already stated. GQC has become a 10-bagger in just seven trading sessions with nearly 80 million shares changing hands.
We’ll have more on this developing story in the week ahead. While John’s chart shows that GQC is likely due for a breather after such a powerful run-up – and after hitting his near-term Fibonacci target of 75 cents – there is no question in our view that GQC still has major upside potential given the significance of the discovery at Las Tres Palmas. Additional drilling should also draw in more speculators.
We hope GQC hits it REALLY big in the DR. This would be great for the Venture and would remind everyone that you can’t beat the potential leverage of good exploration plays.
Note: John, Jon and Terry do not hold positions in GQC.
GQC… what a performance but it seems that it has reached the limit…. a 30% adjustment seems to be unavoidable…. Still a lot of players there and you can still get your profit from the daily high and low…. A hot junior stock.
Comment by Theodore — June 3, 2012 @ 8:14 am
Any feedback from the Vancouver Resource Conference. GQC presented at 1:40 p.m.?
Comment by George Wohanka — June 3, 2012 @ 1:31 pm
George, I was at the GQC presentation, delivered by Bill Fisher…..and spoke to Bill for about 25 minutes later in the afternoon…….drilling starts again Tuesday….he’s agreed to an exclusive audio interview with BMR which we’ll be doing tomorrow afternoon………..everything is looking very good….
Comment by Jon - BMR — June 3, 2012 @ 6:15 pm