the only technical reason is that its close to support at the 5.40 area.....overall though the technicals dont look very good on this stock......i only added a small amount of shares today to my overall position.

my main reason for buying this stock is that they have a 40+ million oz gold deposit and at today prices you are buying gold in the ground for $8 dollars a share(companies with deposits of this size usually get taken out over $40 per oz in the ground)

this stock is highly undervalued at these prices.  It doesn't mean it cant go lower in the short term either. They are working on their pre-fes study and thats usually the time when resource stocks will underperform the rest of the market.  This is because no new news is being released into the market to keep investors excited.  12 months from now this stock will be 100-300% higher.  I can wait that long for a 100% on money.