Kenneth P. Norquay, CMT
Gold Eagle Mines Ltd.
GEA-T
DON'T BUY
Jun 01, 2007
A downtrend, when the market is going up. Stock has dropped too far, it will have a little bounce, which is what it's doing now.
A stock needs a little time before going up, otherwise it's just bouncing around which is good for day traders but not for most investors.
A fantastic gold exploration play. They think they have 8 to 10 million ounces of gold however; it's a long way until they actually produce these ounces. The stock has gotten ahead of itself.
Directly adjacent to Goldcorp’s mine (G-T) in Red Lake and have 5 drills working this site. There is a potential to expand the deposit. Very good hold long-term.
Have very good analogues to the Red Lake Camp for Goldcorp (G-T). Thinks that gold stocks overall are going to be pulling back for the next 3 to 6 months so there may be some weakness.
Possible acquisition by Goldcorp (G-T). Really interesting story. Right next to the Red Lake gold camp that Goldcorp owns and it looks like it is the extension of the high-grade zone. Incredibly deep and the land is under water so they've had a hard time drilling. Will need more time.