The love may have dwindled since the days of 65c, and just like most marriages when you can't give your partner financial security it puts a strain on the relationship.
My relationship has certainly strained with CQT but if I leave, will my next partner give me any better security. If you don't want another relationship after leaving, that's another story.
So I ponder now what hope has CQT got to mend our strained relationship.
I can shout at them now and at the AGM, and vent my frustration of why they allow the price to dwindle. Lashing out is a great way to feel better and keep them on their toes. They should not take us for granted. On that I agree with all of you.
Maybe I have not looked at what my partner has really done in our time together.
In two years it has drilled out a resource base from next to nothing to 2.6mill gold equiv ounces. It is close to completing a PFS which should so it as a low cost producer.
It has a JV with a partner that is using up to date technology to give it a higher chance to indentify correct areas to start drilling. Without GF the land around Mt Carlton would take forever to explore and would be wasted time. GFA are preparing properly now, to spend less time drilling aimlessly later. The rewards of this are still to come.
CQT have raised at the peak good money that leaves them with a balance of $31mill now earning approx $2.3mill p.a interest, which helps pay some exploring expenditure.
CQT also has a large interest in HAW which if they prove up their iron ore will mean CQT could sell their interest in the future to help fund future exploration & production.
Of course in all this they have employed a chief operations officer to ensure that our goals can be implemented.
I keep looking at the M.Cap of around $67mill which includes $31mill cash. I realise then I can't let her go, she really isn't as cheap as everyone thinks right now. In a liitle time she will show how classy she really is.
CQT Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
