below is a recent example of what successful drill results do for a company’s stock price. keep in mind gold quest’s property is in the domincan, they have 143 million shares outstanding, no cash flow whatsoever and need more cash to continue their drill campaign… a little different than dynacor’s case...
may 23, 2012 (bear of bear markets in the juniors still did not stop this stock from taking off...) the company issued a drill results news release on one hole which intercepted 160.3 meters grading 2.9 g/t gold and 0.62% copper. nevertheless the market moved this company’s stock price 863% in less than nine days of trading… gold quest was trading at $0.08 the day before the release and ended the day with 321,00 shares traded. the following eight days of volume were as follows:
day after the news release: 16.3 million shares traded
day 2: 8.7 million
day 3: 7.5 million
day 4: 4.4 million
day 5: 11.1 million
day 6: 3.7 million
day 7: 6.5 million
day 8: 4.5 million and 863% higher than before the news.
the company then went on to even loftier levels after reporting an additional drill was being added to the site and then followed up with another impressive drill intercept from the second hole including 159 metres grading 4.5 g/t gold and 1% copper. a few days after this news release the stock hit a high of a $1.98. tally this up and you’ll find a 2,375% increase from the day after they released the news of their first intercept.
if dynacor finds even a third of goldquest’s results, say 50 or so meters grading anything above 0.10 g/t gold or 0.50% copper, i will be very pleased as it would validate something significant is there and more drilling beside that hole, but just imagine if they do find similar results to goldquest with only 36 million shares outstanding it will get silly fast.
yeah ore-processing is steady and solid, but if dynacor scores with the drills....hold on tight everyone and yes kiniki i am on to the sweet smell of dynacor's drilling success in 2013, are you!