Jeff Parent B. Eng. FCSI CIM
Crystallex International
KRY-T
DON'T BUY
Jul 06, 2007
Difficult to analyze. There are big spurts of volume based on news. There is a lot of trading activity at around $4.30 and it can go either higher or lower.
Because of the Venezuelan political issues, insiders will know more than we ever will and this will be reflected in the price. This one has fallen out of bed while the other gold stocks have been rallying.
Stock advanced when gold stocks were declining, so it had high relative strength. When the gold market turned around the stock started to decline. Once the trendline was broken in July, all bets were off. Shorter term charts show it trying to form a base. He wouldn't add to it, but if you own it, you might want to stick with it and see if it rallies.
Have an incredible deposit, but dealing with the government in Venezuela is an entirely different realm than dealing with other jurisdictions. Didn't get the government approval they were hoping for.
This one highlights the political risk that has been seen in the gold sector of late. Venezuelan government just threw out their permit and it is now a big uncertainty as to what they actually own.
Multi-million ounce gold deposit ready to go. Waiting for one permit. Venezuela has tipped over on the risk spectrum. Finds it very difficult to have any clarity on what is going on there.