I bought another 700k oppies this morning. Wow! What a bargain. Yep, sure, I might have been able to buy them cheaper again, but I have my doubts hat this trend will continue too much longer.
I asked my broker why he thought that sentiment was going against CCC and he cited the cap raising for another 130m shares, that he was not aware of, as an example of market not trusting the management.
I can see his point there. I did not know about or think there was a need for further cap raising after the announcement of finance through coal sales.
He also said that he thought the two month suspension was harmful to the company image, and that the market is probably waiting for the deals to be signed to be sure that the deal is REAL.
Fair enough.
Either way, the fundamentals are compelling to me, if the deals are completed, which I am sure they will be. I am so far overweight on this thing, particlualry the oppies.
Time will tell.
CCC Price at posting:
40.0¢ Sentiment: LT Buy Disclosure: Held