The market is clearly excited by GoldQuest Mining’s (GQC, TSX-V) discovery in the Dominican Republic, and rightly so as we have already stated. GQC has become a 10-bagger in just seven trading sessions with nearly 80 million shares changing hands.
We’ll have more on this developing story in the week ahead. While John’s chart shows that GQC is likely due for a breather after such a powerful run-up – and after hitting his near-term Fibonacci target of 75 cents – there is no question in our view that GQC still has major upside potential given the significance of the discovery at Las Tres Palmas. Additional drilling should also draw in more speculators.
We hope GQC hits it REALLY big in the DR. This would be great for the Venture and would remind everyone that you can’t beat the potential leverage of good exploration plays.
Note: John, Jon and Terry do not hold positions in GQC.