re: Ann: Diamond Drill Programme Completion a...
I bought a handful more again today from proceeds of a sale of other shares. It's a good question and hard to answer. It may be answered for me by Frank negotiating a deal to sell all or part. Then the question is : what would Frank sell for? I doubt if he is in a hurry but I haven't asked him, so don't really know. I did say to him once that I thought he was aiming to become a billionaire out of CRK and he laughed but didn't deny it. I actually think that is possible a bit further down the track. If he decides to sell early, I very much doubt if he would go for less than $5 a share based on his comments early last year. The longer he holds, the more gold goes up, the more gold they find and convert from resource to reserve and the closer we get to mining, the higher his asking price will be. Any would-be suitor would be well advised to move in early. They might just be able to steal it for as little as $2.50-$3.00 a share, but I think it is unlikely and probably already too late. What would I sell for? All at $5 if Frank goes too. In fact if Frank goes I'd go with him. If it's a share deal I might well hang on to the shares of the buyer, depending on their p/e etc. I wouldn't sell at $2.50 or $3 unless it was the best Frank could negotiate. If we continue on to mining and start producing the 100-200,000 ounces a year, I will hold on whilst keeping an eye on the gold price etc. I might conceivably diversify a third or half at $5. 431neb, I was very lucky. I sold out of OZL when they were around $3.30 and only moved back when they hit 60c when it seemed too great a bargain to resist and indeed was. I do trade a bit but only about 5% of my entire holdings, more for fun than anything.
CRK Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
