Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Goldstone Resources (GRL) is a company I quite like, but we can’t ignore today’s bad news. The latest attempts by Randgold Resources (RRS) to find a sufficiently high grade gold deposit in Goldstone’s Sangola permit, in eastern Senegal, have failed. I expect the shares to drift lower over the coming months.
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