This is great news folks, not because I particularly care about the rock chip samples but because the SP had stagnated over the past few weeks. This will provide the catalyst to get some movement happening - it has felt for sometime that the depth has just needed a reason to start buying. In terms of the long term game, it doesn't really matter what gets us over the walls. In this case, it was potential gold that cracked the 5c barrier - I'm fine with that!. To the time that I wrote this, we had cycled 12.2m shares - for those that are complaining that it provides people that participated in the SPP with an out, they would have exited anyway, may as well get them out on an announcement that is not our main game.
Just to reflect a bit on management's recent decision not to issue shares to LTR, if they had, you can bet that any gains that we get today or over the next few weeks would have been quickly undone as soon as LTR got access to the shares. At least in this case, CXO shareholders get to see some momentum build without the threat of an imminent dump to reverse it all.
CXO Price at posting:
5.1¢ Sentiment: Buy Disclosure: Held
