News17 Oct 2013 23:11
The news that came out subsequently late last week -- and was augmented today by even better news, when the initial assay results were clarified -- suggests that this optimism was warranted. Simply put, the results of the first of five deep holes being drilled at Cascabel are the most impressive, and potentially company-making, of ANY news this company has ever released in the years it has been in our orbit.
If you've not seen the press releases, I encourage you to visit the company's web site at www.cornerstoneresources.com. In a nutshell, the very early indication is that Cascabel could turn out to be a monster of a copper/gold porphyry system.
When I spoke with C.E.O. Brooke Macdonald last week after the first news came out, I wondered aloud whether he had a way to compare this early showing with the size/grades of some of the world's large existing porphyry deposits that are developed and being mined. Already ahead of me, he shared the below link; a comparison which -- and again, it is still EARLY -- is making the hearts race of those who have followed the company for a long time.
http://copperinvestingnews.com/what-makes-a-world-class-copper-deposit
More meat will be put on the bones in short order, too, as results from the remaining drill holes come out in the weeks ahead. CGP shares will no doubt remain volatile during the process. Last week they spiked as high as C12 cents before selling off. Some who bought or were holding CGP as it bumped along the bottom at C3-4 cents seized an opportunity for a quick profit. This is the kind of thing I have advocated in the past, even with Cornerstone; those of you who were with us then remember selling a bunch of this a few years ago in the C60 cent /share neighborhood. And taking at least some money off the table after a big run with most any stock is never an unwise thing to do.
Clearly, though, the "danger" here now is to be too cute trying to trade, and miss potentially even better news coming out. If you traded out of some late last week, more power to you; as long as you're getting back in now. Indeed, after giving back a good chunk of its run, I'm going back to a speculative "BUY," from "Accumulate."
http://www.cornerstoneresources.com/i/pdf/Print_171013-TNI.pdf
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