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Elise ,always good to de risk .good luck .
Hi wondergoals . I know the news that we are waiting on .It depends how imminent the news arrival is ie we may well see a crash before news .of course we may not . Personally I think a sub 40 p buying opportunity is highly likely which I dont mind personally . The last placing stopped the sp in its tracks and knocked it back . Any market volatility will hit cnr as we have seen in the last couple of days .Do we think market volatility is over ? I dont personally .
I am happy to buy sub 40 p and happy to add other goldies if they get pummelled over the next month ,just a matter of when to buy .
Good to have to back posting seingred. Always a fair and balanced post as usual.
Elise1- maybe the things you mentioned would have helped the sp no doubt but I can assure you the geographical issue here is holding this back. You have numpty companies worth twice what we are with billions of shares I. Issue. Why do we always get the short straw ?
Even after tester kindly outlined the good value we have .... mms don’t care because without scaring anyone that good could easily be taken from us one morning and good luck trying to go through the courts to get it back. Ok so B2 have mined etc etc but times have changed dramatically.
Really Pssssss Ed off with today’s drop. I can also see us sub 40p if 42p support doesn’t hold.
seingred - what do you mean no imminent news? there are several pieces which could come at any time - others have speculated that arrangements on toll refining, plant, financing , drilling etc etc may be queued up and could be released once we have 100% of the land. Company now negotiating with 1 final land owner. MC committed to being shovel ready by year-end. I don't think gold price around current levels has too much effect on CNR - at less than $700 aisc any production is going to be massively profitable and can absorb pog volatility.
I'm afraid sp is victim to the company's continuing inability to generate interest in what we have and the opportunity. MC doesn't think sp is anything to do with him, and I'm afraid he has zero interest in small private investors. This means that he couldn't care less about the shifts in sp we've seen over last couple of days - he's looking longer term (as ever) and I'm sure has a market cap in mind for CNR which equates to sp greatly in excess of £2 / share. So we small holders just have to put up with this attitude or get out. Presumably Jim Mellon is happy with MC's approach.
Think we may go sub 40 p possibly if no imminent news and gold has a further correction . I reckoned a crash for oct and still reckon itsa waiting . Bottom fishing here and elsewhere for me over the next couple of months .
Elise ,interesting strategy to clear your mortgage when interest rates are negligible and we are expecting a further gold bull run and large gains are presently being seen in many shares . Good move to cash out ggp though I suspect ,you could be buying them back at half the price if gold drops a couple of $100 oz imo . I was way too hasty in ggp but still ok with a bagger .should have just taken my stake out .
You talk a lot, but say little. There's some risks which affect the SP and investors should be aware of them? We know that.
A more interesting discussion would be if you think the risks are priced into the current SP. I personally think that they are, even the risk of political unrest to an extent, given it has happened relatively recently. £60M is not a lot for a company in our position, risks and all.
Risks can go down as well as up. 100% of land bought by the end of the year (personally, I'm not that bothered whether it's done by the 31st December or not, but it may well be) would be a good start. What else is required to be 'shovel-ready' in your view?
EL I was just summarising where we are at and where we are going.
Ggp has had its price inflated because of everyone jumping on board but the reality of the fact is they are in a 100% safe jurisdiction and we are not.
On that note with what your saying the following comes to mind “ id rather have 10% of something than 100% of nothing “
I’m still here and although I expected the sp to be much higher than it is ... this share never fails to disappoint and it has done for a number of years.
What you need is a balanced view .... can you imagine we go in to production and the broke a s s government suddenly increase taxes on mining ? We’re not talking 2-3%.
Risk is the only factor that’s stopped these settling at £2-3 by now.
Also one should take everything good and bad with a pinch of salt .... after all one should never be over invested in any stock because you should only invest what you can afford to lose.
MC had kept a lot under the belt and never panicked the markets but if he doesn’t get a move on these will drift lower.
Yes, there's risk. That's why we're under £60M MCap. You want safe, buy GGP. They're at £900M MCap by the way. Pays your money, takes your chance. That about cover it?
Is that we will eventually come good here but the market is ahead most of the time and it seems that by listening to MC repeat the same jargon again n again that it’s actually been very very difficult for him but fair play atleast he’s getting it done albeit very slowly.
Must admit the political risk is Always there and with so much gold / money to be made as tester has shown us then there’s always a chance this government can make a coup for the mine.
Personally its getting boring again ....... but feels safe on this frothy market. Atleast we know if the market corrects we will not fall because we haven’t risen up with this market rally.
In 2 weeks we enter q4 ..... I can put a massive bet today with anyone willing that although we are hoping to be shovel ready we Technically won’t.
MC ... without his fault has missed numerous targets and it just begs the million $$$$$ question ....... will the production / mine etc etc go without a hitch ? With mining in general there’s always issues ..... hate to think if we e er had an issue whilst in production what this market would do to our sp.
I have my exit target sp , I think people with £1 or a bit more are ok ..... £5-6 just wont happen in my opinion.