In an email correspondence with Fred Lacy (I was inquiring about any thoughts he might have on CORVF/KOR.TO) the subject of GSV came up, as it is a fellow Nevada-based prospector. Specifically, GSV as a tax loss seasonal play, which Fred is interested in and I had had in mind as well. He confirms my suspicion that it was way over hyped and over valued but actually sees it as “not a bad value” now. But please do your own DD as needed on these.
It was way over valued, hyped as the second coming of GoldStrike. Which if it were true, would be valuable but hasn’t been that big.
2 problems, they turned down a buyout offer from Goldcorp years ago, and now with a merger, there’s less in Nevada to buy them out, and they’re spending so much money drilling that the paper is always coming out, like now.
I’m hoping they keep hitting it until the 29th, there might be a couple of these, this has an advantage being us listed, that you could make a quick 30 to 50%.
There are other bombed out gold stocks like NGD and AAU that are way down, but I am looking for stocks where more consistent damage came in 2019 for max tax selling pressure. GSV has had a poor post-2016 history and continued that in 2019 as it went nowhere but down. A buy as close to $.50 as possible could work out in Q1 2020.
Here is another hype darling (and here I’ll take an interlude to remind us all that it is worth remembering who the pumpers were if possible, because there is always a next time with these guys) because ‘McEwen started Goldcorp!’ or just because McEwen. It’s b/s and this is a bombed out gold stock approaching a support level at and just below 1, where a tax loss vulture might consider swooping in.
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.