"It can be frustrating I know, but I think you have to take a long time view with this company as it is not really a company for trading."
I consider CRK a way to "land-bank" gold at a very cheap price. 70M company....over 4M ounces of gold, will soon be 5M with hits coming in like the other day (50 metres starting at surface....5 grams per ton?)
With 10M cash and taking 5M ounces as a given.....
you are buying the Gold at $12 an ounce at the moment.....and this is in a great locality with good infra and cheap open-pit stuff near or at surface.
Great value IMHO.....hold and wait for the out-of-the blue offer from a major.
If you can't wait....sell.
PS. Reading old broker report today....valued CRK at high 85M or so....when they had 2.0M ounces and 1M cash.
Also Gold was lower price then.
Applying same rationale valuation should be closer to 180M, plus higher Gold price, say, 200M.
Current M/Cap 70M....or 60M less cash.
Cheap.....
CEO is no fool....started Miniskips Co.....clever cookie.
CRK Price at posting:
56.0¢ Sentiment: Hold Disclosure: Held
