I was just looking at the GUY chart in 2004. On May 14, 2004 (6 years ago today) the stock was at 48 cents. On June 11, it was 1.65 and by October 1st, it was 4.20. (I used Google Finance to get the historic chart)

I was looking at historic news releases on Reuters:

http://www.reuters.com/finance/stocks/keyDevelopments?symbol=GUY.TO&pn=5

The only press releases I could find for 2004 were:

Feb 10 - Announcement of Commencement of Drill Program (10,000m program)

Jun 16 - Private Placement 3.3M units at 1.50 unit (raised $5 Mil) Participants: Canaccord and Dundee

Jun 28 - Private Placement 3.3M units at 1.50 unit (raised $5 Mil) Participants: Canaccord and Dundee

Is it just me, or has Canaccord being scooping up a lot of GRC shares over the past couple of weeks? Can someone please post house positions for the last month or so?

The point is, Sheridan raised the cash at 1.50, not 48 cents. It's pretty clear that the plan is to let the institutions get on board, and then let the stock price fly. I'm starting to see some parallels to GUY, and that is a good thing (for the record, GUY trades at $7 right now)

Just some food for thought on a Friday morning I suppose.