While I’m thrilled that this blog post of mine coincided with the single biggest volume day in Northisle Copper & Gold in the last 3 months, and the share price hit a new, all time, I would caution anyone thinking of owning or adding to the ownership of the company, because the likelihood is we have a brief consolidation of this sharp move up. But it would come as no surprise that if it even does pullback, it would be shallow and be done quickly.
Why? This is a very special situation at a time when demand for such a company is high and they have clearly separated themselves from the pack.
While thrilled not to have received any hate email regarding Arizona Metals this past Friday, thanks to a nice pop in the share price due to a rebalancing of GDXJ, I would be truly shocked and surprisingly pleased if it doesn’t give up a significant amount of that pop in Monday’s trading. If it doesn’t, we could say with high confidence its darkest days are behind us. But again, don’t lose sight that key parts of the management remain suspect, but thankfully I believe the project is so good itself, it can overcome this negative. If it holds at $1.60 – $1.65 or higher, that would be a good sign.
