Imo investors have been reworking their figures on CQT.
When CQT was capitalised at over $200 million this was on the assumption that 100% of Mt. Carlton and 100% of the regional exploration upside belonged to CQT.
For example, I hardly imagined that 51% of the regional exploration upside blue sky would be given away for a few million dollars worth of drilling .. the initial commitment is only $5 million ($2.5 million worth to CQT.) Down goes my valuation of CQT. Bang!
When CQT was capitalised at over $200 million this was also on the assumption that with future strong drilling results, based on 100% CQT equity, the CQT share price could rise very strongly, making future finance easy by astute placements.
When CQT was capitalised at over $200 million this was also on the assumption that with future strong drilling results there could even be a takeover battle for CQT. Most unlikely now.
As I said, it is pretty obvious that investors have been reworking their figures on CQT.
CQT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held