"but i am not sure a fall in gold would cripple this stock down to a buck as its pretty tightly held".
I have heard this statement on this board and other boards for years and with all due respect it doesn't in any way stop the Share Price (SP) from declining. "Tightly held" shares can be "borrowed" by shorters and used to drive the price down.
In order for the SP to rise there must be buyers and in order for the SP to decline there must be sellers.
All that is needed for the SP to decline is for there to be an absence of buyers for awhile and just a few unsure retail investors who get nervous as they watch their profits evaporate. There comes a point where savvy investors refuse to let their profits decline too far and will place stop losses. Once they SP hits these stop losses they are automatically triggered sending the SP down rapidly.
All it will take to drive this stock below $1.00 is a nervous market. I rather doubt that this stock will stay sub $1.00 very long however. It is because this stock has such a low float that it is so volatile. Large swings in either direction should be expected.
The way to make money on this stock is to know where the pivot points are. There is a well established channel established for this stock and $1.70 was the top of this channel and $1.10 is the lower boundary of this channel.
So to anwer your question....... where do you think the bottom will be? Answer: between $1.00 and $1.15 with a possible sub $1.00 intraday swing down.