Am somewhat upbeat about the potential of this little water play - although of late I wonder of there is more competition for CNQ's services out there, so they better get a wriggle on. Time is no one's friend and in the absence of evidence of any serious cash flow, and their critical shortage of cash as per the last quarterly report, I worry that announcements like these (whilst acknowledging the possible future benefits of all the works they are doing) will be seen by the battered investment community as nothing more than pumping the tyres in preparation for another Cap raise, which under the circumstances and due to the urgent cash requirements, could be funded from institutional investors and not us mums and pups.
Sentiment changed back to hold from buy, I think there are others out there I'd rather throw fivebob into at present, although all will be forgiven if we see a continuance of the trend that started in July and seemed to have petered out end September.
My opinions only and GLTASH
CNQ Price at posting:
31.0¢ Sentiment: Hold Disclosure: Held
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