I did buy a parcel at 25c loki01 and not unhappy about that. The overnight leap in gold will kick along most gold miners and explorers on Monday I would think. CRK should get caught up in it. Looks like the selling has dried up for the moment and the directors are buying. It even got a mention in today's Sydney Morning Herald in the directors buying column. Note that a third of directors buying were directors of gold companies - maybe they know something ordinary punters don't.
I would think CRK management do have a plan to generate cash flow in the next six months and I too hope it does not mean diluting our shareholdings - leaching is one option being explored- low cost but not as great a yield. That could kick start the cash.
Frankly CRK is looking very vulnerable to a takeover - as NGF has been. I sold my shareholding in that yesterday at a nice profit, which I may now regret with the price of gold soaring. Still, I can plough the proceeds into underpriced CRK shares.
Frank said he thought CRK would be taken over as soon as they it got close to mining. That was his aim I believe. Unfortunately the management then was not as professional as today and delayed the whole process by a couple of years. The trouble is that a Chinese buyer could probably acquire CRK for a fraction of its true worth right now, for perhaps as low as a dollar a share, or even less. It'll make some happy but not me.
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