The temporary re-rating of this stock is only due to the fact that the price was pushed up by buying pressure in anticipation of a spectacular announcement.
When the announcement came it was very good but it was not spectacular and buyers did not step up to push the stock further. The buying pressure that pushed the stock up disappeared and short term punters were left with stock on which they could not make a profit. They were looking for short term profits and when they realised these were not to be had they sold their shares.
A weak buy side and too many sellers = share price goes down.
What needs to be kept in mind here is that the last announcment was very good, as has all other news that has come out regarding CQT's current main project!
The last announcement clearly indicated that this resource has grown and looks to continue to grow significantly as drilling continues. Preparation for continuation of the drilling program is complete and the project is clearly going full steam ahead! Peter Rae (CQT's exploration manager) even said on yesterday's broadcast that they are looking for another RC rig but haven't been able to get one as yet. The grades of Au, Ag and Cu are excellent - some of the best we have seen in a long time (as pointed out by other posters as well).
Any downramping of this stock just because the share price has fallen in recent days only demonstrates lack of understanding of the dynamics of the stock market. If there is something negative to say specifically about some aspect of this company's current project then by all means say it, otherwise keep quiet.
Aggravating people on this site unnecessarily is foolish and I certainly hope that HC moderators step in and put a stop to it because I think it has gone on long enough.
At current prices my recommendation is BUY but that is only my opinion - DYOR.
Cheers to all holders!
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
