Hi Stockings, I think its one of the major things holding this stock back. Tony McDonald stated on a radio interview back around June I think that Goldcorp would not be expected to be interested in Cerro due to the size of its reserves. Additionally when I rang them in July asking about ETA on a bankable feasability,he rang me back (much to my suprise) and he also again said that at that stage the belief was the Cerro reserves were too small for Goldcorps interest. (although they will be offered the option as a formality once bankable feasability done). That means they will need to come up with some cash from somewhere else. Fingers crossed for some debt, not capital in my opinion. (By the way the eta he gave was six weeks from early July....) Maybe its just wishful thinking, but I am hoping the ongoing delay in the bankable feasability study is because they are hoping to release it along with some financing news. Alternativel, and this is just pure speculation, but maybe also they were waiting to get some good news on Namiquipa and make themselves a more attractive prospect as a whole with greater reserves to some potential investors/financiers.
I hold at the moment, at quite a loss.
CJO Price at posting:
16.5¢ Sentiment: Hold Disclosure: Held
