You deserve a few cracks, the chip away at others and nobody here is more certain of themselves and the CDV outcome. Always have been but but as time ticks on your calls are wrong and your certainty simply looks foolish. Still, feel free to have a go. I'm also sure this will be a mine, why bring up inane comments like that i have no idea, nothing to do with me I'm all about share price. Why having a low buy in price means you don;t care about credibility or share price is also beyond me.
Granted you might find posts a odd in the light of an early post this morning that was accidentally moderated, I just found out. Not that your interested of course, but the post was an attempt to be clearer on my original speculation. Simply put I have reason to believe the DFS delay was more about flushing out the oppie sellers and providing clear air for the DFS more than any genuine decision to include Aachen or expectations of much change from the 9 micron results. Many will say that's just crazy lame sht, but not many look as deep into this as I have.
Good luck
Hydrocarb. Please don't misunderstand me, I'm certain Archie didn't try to help insto's sell down into an uninformed market, that was just the unintended side effect. He believes the project is still a dead set winner despite the cost increases, and I'm sure he believed all the major insto's when they said they were still solid and behind him during talks answering their questions and rumours. Enough evidence was there for professionals to ask the right questions and get the right answers. It's just that insto's look after their investors and own fees, they all turned around and sold the downgrade regardless.
I'm convinced for good reasons that Archie decided at the end of May that the DFS downgrade timing was terrible for release into a lot of option selling that was bound to come. Everyone here agreed that retail or insto oppie holders, there was every reason to both take profits and fund the conversion of cheap or free oppies. Everyone was waiting on the DFS and a kick in price and volume to sell the heads down into. Some on HC complained after the DFS delay that the timing of a DFS release on or after the oppie expiry date was terrible for tax and timing implications. There was quite some grumbing, all oppie holders were then put in the same boat having to convert before the DFS.
Strategically it makes sense to get the oppie overhang selling out the way and leave some clear air for the DFS to find some buying support. Imagine the share price if the DFS downgrade was released into a market where all that oppie selling was waiting. Talk about ugly and no wonder Archie thought twice about bring the DFS forward 3 months. It was ready but the gold price at the time was under $1300 and virtually the same as when the PFS was released. No justification for a higher gold price in the DFS, just an ugly downgrade followed by a lot of selling. Hold off the good news until after the oppie selling was done. Such strategic decisions are made by juniors all the time, maybe when a sub holder is selling down they will hold back good news or exploration until the seller is finished and the good news can get traction. No BOD want's to waste good news, or exacerbate bad news.
CDV Price at posting:
32.0¢ Sentiment: None Disclosure: Held
