GOLDEN RIDGE RESOURCES update...

originally published Wednesday, September 05, 2018

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One of the bright spots amongst our stocks has been Golden Ridge Resources, a Golden Triangle BC exploration stock that was expected to benefit from the usual seasonal rally in these speculative plays. The good news is that it has easily fulfilled our expectations, by more than tripling in price. While there is scope for further gains, the overbought condition and looming end of the drilling season, when interest wanes, means that there is a growing temptation for holders to take profits and knock the price back down. So with the favorable price on offer following the big up day several days back, which looks like an unconvincing break higher from a bull Flag, we might as well be near to the front of the line and take at least partial profits here - we are up over 3-fold on our initial purchase at C$0.13 in the Spring. So it is recommended to sell at least half of a holding and let the rest run, but sell the remainder no later than late early Oct, depending on what happens.

The 3-month chart below shows the strong runup during the 1st half of August, but the unconvincing break higher from the bull Flag several days ago suggests that the advance could peter out and reverse.


We took profits on at least half of a position in Aben Resources almost 2 weeks ago and that has since cracked, with a nasty drop over the past week. If still holding any of this, dump it on minor rallies.

Golden Ridge website

Golden Ridge Resources Ltd, GLDN.V, GORIF on OTC (but only started trading on OTC about a week ago) trading at C$0.475 at 9.45 am EDT on 5th September 18.


Posted at 10.25 am EDT on 5th September 18.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.