Good point soyelpato, gold's "breakover" certainly coincides with GSPG's pull back, and it's very probable that it was a big technical factor. Couple that with the fact that weakness began appearing towards the end of August as we got closer to the "Uh oh, the 43-101 isn't coming out this month like they hinted on the conference call... Where is it!?!" reactions from the more emotional folks. I think that the truth is most likely a combination of your pegged-to-gold theory, chartist factors from the technical guys, and my opinion on the fundamental/news issues, since it takes all types and ranges of investors (with differing focuses) to make a market in a stock.
As far as my valuation is concerned, I recognize that many (most) people hope that I'm way under-aiming on this one, especially those that got in over $0.05. Please remember, my number is only based on the value-after-cost of the currently known ore reserves. You are 100% correct that there is inherent value in things like "surrounding itself with experts and seating a board", "a fully functional processing plant and... more toys" (although I suspect some of this is leased) and "laying the ground work to relocate 342...permits in place". All of this together is what I'm calling the story which as I said from my previous post would need to be sold to the investing community in order to unlock your topics' values in the form of share price appreciation over $0.10 (which I absolutely think is possible).
But until that happens, I don't think The Street is pricing any of it in, and I cannot include them all in my current valuation. Once the story starts to be digested and believed, then it can be priced in. All of these conference calls, investor conferences, regular and conservative PR's, and independent analyst reports (even if GSPG pays for them) go a long way to help.
The 43-101 report's biggest contribution next Tuesday isn't the numbers contained within (we already know those), but it is simply its existence in hard-copy form that gives credibility to management. Trust from institutional investors is earned, and as GSPG's management can continue to deliver on their promises and timelines, it will be given to them (and the shareholders) in the form of added capital. You have to remember, there is a big difference between how sure you have to be when you're investing other people's money (which institutional players do) and your own (which is the rest of the investing public). Institutional folks' careers, reputations, and paychecks depend on them getting their due diligence right (so they're very careful), and since they're swinging with such a big bat ($millions versus $thousands) it takes some stroking and convincing to get them on the band-wagon.
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