Conquest Resources (TSX:CQR)fiat(CAD)$ 0.2 UP $0.01 (+5.26% :-) Bid 0.19 Ask 0.20 Volume 1,000,000 Strong Demand :-) Day's Range 0.20 - 0.20 Last Trade 11:04:18 AM EDT Click for Detailed Quote Page
Conquest Res. More exposure ... TheWordofGod2 9/22/2009 10:18:49 AM |
I managed to get us more exposure by getting us on HappyCapitalism.com yesterday :
In The Shadow Of A Giant by Lou Schizas • September 21, 2009
conquest1
Hi Lou,
CQR is a small gold exploration company bordering Goldcorp in Red Lake. Earlier this year Goldcorp actually drilled 4 holes on their property. The chart looks amazing. With Goldcorp drilling on their property could that mean they are looking to buy them out ? Mike
Hi Mike,
You are absolutely right the chart is looking fine and given their land position at the Alexander Project which lies in the shadow of Goldcorp’s Red Lake Mine you can see why the stock of Conquest Resources Ltd. ( CQR TSXV) has attracted investor interest.
The four drill holes that Goldcorp completed onto the CQR Alexander property generated high grade results of 14g/t. Operating gold mines typically grade between 2g/tand 10g/t. The question you asked about a potential takeover of CQR by Goldcorp is a good one..... by cqr
cqr2
The three month chart shows a range bound trading pattern with support at $0.18 and resistance at $0.21. Average volume over the last three months has been 55,ooo shares but it was only 17,000 on Friday. MACD has turned below the signal line suggesting that the momentum on the uptrend is dissipating and that the market is waiting for more news. If the price falls below $0.18 look for support on the 50 day moving average at $0.16.
Conquest just started a 20,000 meter drill program that will be generating news as the samples are analyzed. The results of course will generate a flex point in the uptrend depending on the outcome. Higher grades will drive the stock higher, lower grades will take the stock lower, and flat results should take the price sideways.
Conquest has another deposit such as the Aurora Project at Detour Lake but the focus is clearly at the Alexander Project.
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