I was thinking about this. I wonder whether they've been encouraged to keep the lid on their valuations to date to contain the sp in order to help negotiations to get IFC on board? Now they're in, and PFS + PEAs coming, perhaps future valuations will be more in line with expectations (and resource, potential etc etc)
Some of the smart money is looking for cash rich juniors with management that has been successful in previous bear markets. Strong shareholder support is crucial and they like to see insider buying from key shareholders and management. Major gold producers on the NYSE or top notch mining investors buying equity positions in some of these junior gold miners during these challenging times is an indicator of a potential winner. Seeing smart money make private placements during this selloff may indicate accumulation after capitulation. I am looking for companies fully permitted with high margin economics and a low capex in mining friendly jurisdictions. Stick to companies with either Preliminary Economic Assessments or Bankable Feasibility Studies demonstrating a reasonable capex, quick payback and low all in cash costs
I have always believed MC will continue along the continuum towards production. It may not be what he wants because essentially they are about exploration. However, I am inclined to agree with Nero...MC won't want to sell cheap...not after all these years of absolute slog. I thought he said he wanted to "fast track" this to BFS. He sounds pretty determined to me. I think given this backdrop anyone thinking of putting an offer in will have to be realistic.
I have been very surprised by Numis target price predictions...in fact, gobsmacked! Still, CNR has continued to remain very much bottom drawer for quite a while and watching from the sidelines has helped my stress levels. Not always been easy though I have to say.
Yep - 30k at a 3p premium to the ask at the time - someone is happy to buy CNR shares at this price indeed. And another 3 x largish buys at full ask as I have been typing this....
So in light of that, are we heading for an encouraging PFS release very soon then i.e tomorrow?! Certainly seems that could be a possibility...
CNR is such an illiquid share that good news should send this flying... We might drop on very low volumes but we also go up very quickly on relatively low volumes as most here are LTH's and know the potential value of what MC and CNR have built up over the past 5 years and are not willing to sell for 5-10% profit...
PFS in November, but when will the first bid come along - allowing for DD etc... thats the big question for me
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.