Gidday speculator I share your frustration. We will surpass the 52 week low unless some new news comes up. There are a couple of things that have disappointed me. Firstly the capital raising/s. Paul made it absolutely clear that Posse was to pay the way for exploration and that CR's shouldn't be necessary .... well CR's are necessary by the look of it. Secondly, they have way under-estimated how long things take in Brazil. And most importantly: management due to (in my opinion) a lack of experience, have under estimated how long JV's take to complete, or maybe more accurately, the extent in which negotiating parties play hard ball towards the end of negotiations.
I mentioned that I may be going to Noosa to try and meet Paul, however I won't be, because I don't think I'll learn anything new. I'd say that if I did go and meet Paul, I'd be told about the exciting things that are planned in Brazil, and how under valued the stock is. The problem is though, and this is a MAJOR problem: I reckon I would have heard from Paul at the 2015 Noosa mining conference -- basically the same speech that CAS made at the 2014 Noosa mining conference. And I also reckon that I've just nailed the biggest problem. Nothing has happened over the last 12 months of great interest.
JV/sale talks (or simular) for Borborema ..... are still continuing. JV/ off-take agreement talks for Posse ..... are still continuing. If they can pull off and sign one of these JV's and then announce something positive to the market, brilliant, but when will that be?
I heard on the grapevine yonks ago that management were hoping to announce a signed JV agreement for one of their Brazilian deposits by October 2014!
Well what happened with that one?
Are negotiations still under way?
Or has the possible deal fallen through?
Who'd know! If it was bad news we wouldn't hear it. Hmmm..... maybe that's why we haven't heard anything exciting ....
I beg management to start tidying up these lose ends and then announce something ... anything.
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Management, this is a lot more serious than you think. If you cannot start to tidy up any of your potential deals and start to move towards announcing a company game plan, this stock is heading towards 10 cents if not lower. The company's deposits aren't that special that wouldn't prevent the MK from heading that low. There's a list a mile long of ASX stocks which have great deposits, great potential, and their MK is at or near their cash reserves. ASX:CAS isn't any more special. Please management, get our head out of the clouds and get realistic, Stephen may have deep pockets but actions will always speak louder than words. You can only go so far with mere words to Stephen before even he starts to say, "Show me the money". The time is ticking management, tick tock, tick tock, tick tock, tick tock, tick tock ....
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