Chart still indicates stock is on the verge of a significant upside breakout above $4.85. Ascending triangle pattern still in play and the stop can be tightened further to just under $4.65 now. Coincidentally, this is also a bullish cup and handle pattern with the handle being formed currently. I would be surprised if it broke below $4.70 at this point.
At this point I would have to believe that the catalyst for the break out will be the upcoming Q3 financials scheduled to be released in one week. Possibly surprise catalysts could be either better than expected Q4 production outlook to exceed the top end of overall year forecast or even a hike in the dividend by 50% to 7,5 cents for the December payout. I would expect a dividend hike at this time to be unlikely due to the upcoming transition from gold to copper in mid-2013 but I assume others would follow a similar thought process. So a dividend hike would be a catalyst for a powerful move and a 15 cents annualized amount would indeed support a $6 target assuming an implied 2.5% yield. Coincidentally, that $6 level is also around the price just before the stock tanked in a freefall on the news of depleting oxide reserves so there will be a tendency for the stock to attempt to close the big gap down.
I made a big bet on this play both on fundamentals and technicals and hoping it pays off this time. GLTA.