Ann: Cobalt Ridge drilling update, page-20

I'm not expecting much in the way of SP rising today based on this announcement. While the results are encouraging, once again, there's no eureka hit, so the traders in this stock will simply use it as another opportunity to sell in to. Don't be surprised if the SP goes in to the red.

The issue with the CZN SP is the register is held mostly by short term traders interested in range trading. This is the reason why anytime the SP gets near 3c there's heavy capping; traders are interested in keeping it within a range they can control. This status quo will only change if/when Hanking convert part/all of their 3c options, or new foreign investment comes in. Anyone that has been watching the Co space would have seen the same in other stocks, primarily AUZ and ARV. Both of these were kept in a low trading range until new foreign investors moved in to take the shares off the range traders.