The Globe and Mail reports in its Saturday, Oct. 10, edition that gold stocks sold off late summer, offering some potential buying opportunities. The Globe's guest columnist Ted Dixon writes in the Who Is Buying and Selling column that while insider buying is not a guarantee of success, it is a factor worth considering when evaluating a junior miner's prospects. Robert Hinchcliffe, chief executive officer of Galway Metals ($1.37), has spent $114,980 buying shares in the public market since Aug. 31. The company is focused on its 100-per-cent-owned Clarence Stream gold project located about 70 kilometres from Fredericton. A 75,000-metre drilling program continues, and, according to Mr. Dixon, the company hopes to provide an updated resource estimate in the new year. The Globe reported on July 7 that Laurentian Bank Securities analyst Jacques Wortman rated Galway Metals "buy" in new coverage. He set a share target of $1.20. The shares could then be had for 99 cents. The Globe reported on Aug. 21 that Paradigm Capital analyst Don MacLean was again calling Galway Metals one of his favourite explorers. He rated the shares "speculative buy." The shares could then be had for $1.59.
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