A note of caution re-visited:
It seems that the gnashing of teeth, the hair pulling and the bellyaching by the new arrivals here on the CVI threads, is reaching breaking point. And maybe that is not necessarily a bad thing.
The stock has become over hyped and over anticipated and that is reflected by the prolific posting frequencies here on HC, and the increased number of posters participating.
And why wouldn't it have talken everybody's notice? It has been an amazing journey so far. The excellent commentary on the CVI threads, and the incredible performance by Smyth in delivering, more or less on time, with everything he and his board has targeted, can't help but be noticed.
Once again the market has baulked at providing what almost everyone here has been calling for. ie. A rocket ride to the mid forties. And despite the vagaries and intrigue surrounding the financing deal, let's not forget that this is Africa we are dealing with, and nothing is ever what it seems. But the deal has been done nevertheless, paving the way forward.
We have just witnessed the end of the beginning, with the way cleared for the next lurch forward. But not before we endure a lull in proceedings, so that the impatient and the financially infirm can be harshly dealt with by the unrelenting forces of T plus 3, and continued weakness associated with sub prime fallout. After that cleansing, and who knows how long we have to sit and maybe slide, we could finally be on our way.
Whether the spark that eventually ignites the share price is drilling commencement or a JV or a new acquisition, who knows? And really, who cares? It may not be even triggered by an announcement, but rather by a solid raft of informed new buying coming out of nowhere. Such a move will materialize when least expected and when most have given up in despair. The rejuvenation in market sentiment following an upwards move will probably see the last of the non believers leave the register in relief.
Unfortunately for them, the next move up just might be associated with the first of a series of announcements all signaling accomplishments that will ensure an exciting future for the months ahead.
Anyway, just some thoughts by an interested observer who just happens to have a few tucked away.
Cheers to holders
Nev
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