Hi pharque. The geo friend is not well informed about CRK and makes that clear. Of course Frank has no geological expertise and the new Company Secretary is his daughter who has shares in the company - she has a number of degrees. They have a full time geologist in the office who is going through all the drilling results and designing a mine profile. Frank owns 42.709% of the company with his 52,100,000 shares. He and Laurence Freedman - a very smart operator indeed with whom I have had a long conversation - own 57% of the company. J P Morgan own 6.879%, HSBC nominees 2.8236%, Citicorp nominees 1.4504%, Bond Street Custodians 1.2953% and the Catholic Church 1.2868%. CRK has hived off its nickel to CNK and Frank has stated that he wants to be 100% gold. They are not depending on nickel. Frank has a track record of being a highly successful businessman and I doubt if he intends to fail on this one. I would not be surprised if he becomes a billionaire out of this. Incidentally I met my first billionaire this week. He flew up for a few days then off overseas again. He reckons that the world economy is totally stuffed. He has been buying great tracts of land. Meanwhile gold has touched $900 again. It will be interesting to see if it makes that vital breakout or not. I reckon it will try two or three times and then make it. The gold shares may react next week - including, who knows, CRK!
CRK Price at posting:
61.5¢ Sentiment: LT Buy Disclosure: Held
