Going through a percentage share price collapse shouldn't be new to anyone. Why does almost an immediate find have to be a necessity in this Easter egg hunt? Ever been on an Easter egg hunt?
The whole ROF is prospective. As has been said, we are in the very early stages of the hunt. McEwen and Lasonde are experienced mine finders and they have joined the hunt with other successful mining men because the probabilities for this area turning into a major mining camp are in place with past discoveries clearly spelling this out.
Patience is a peculiar thing as it relates to our hard earned money when we are in the arena with other players, mostly good players along with the suspicious ones, holding ownership in a gold royalty and exploration concern. The ups and downs of the related metal prices along with the ups and downs of exploration results tend to unsettle me at times along with most others.
The not so good news is that price volatility is here to stay, one way or the other. I see excesses come and go frequently by closely observing Bollinger Bands which basically display bands of ever changing waves of up, down and sideways price movements. Sometimes, prices poke their heads through these established band limits which indicates too much, too fast with a opposite price effect soon to follow.
In the case today of Probe, the share price has completely gapped below the lower Bollinger Band which experience has taught me is a sign that a turn higher is coming within the next five trading days or so. What we are seeing today, according to momentum analysis, is an exhaustion selling climax in the making. Whether this it is just a short, medium or long term one remains to be seen.
I have an interest in a high grade gold pocket mine. It's a real bummer and a patience drainer in between discoveries. Last year was an off year with little gold being produced but large pockets of gold in the thousands of ounces have been found in the mine during its long history. Once a pocket of at least 40,000 ounces was discovered, that's $35 million at today's gold prices.
Remember the old saying, "Patience is a Virtue."
According to the belief of many people we are in a mineral rich "Ring of Fire" environment for the potential discovery of many types of base and precious metals. We own claims and continue to drill and redefine in search of these metals, that's who we are.
