.....and here it is. The cheer squad.
Firstly, don't for a minute think i post here for respect from internet strangers. amusing to think anyone would.
Now lets talk about my previous posts and the company.......
A couple of months ago the CNB world was a very different place and in my opinion (as my posts reflected) they deserved positive talk.
We had some Diamond drill results coming in at Tick Hill that could have been company changing - unfortunately they were dusters and what made it worse is management hid most of the duster results from holders by writing a couple lines in an ann.
Then we had Strelley - this one could have changed the company value many times over to the positive. Let's be honest, the results that came through were fairly close to horrendous although absolutely i do agree that there may be a positive lining with some of the end of hole/mineralization found, still crap to the vast majority of the market who don't understand geology.....and unfortunately the market dictates the price of the share. Correct me if I'm wrong.....but weren't we expecting an imminent release of further strelley holes? Like the imminent release of the additional Tick Hill holes? What's the bet these are dusters and the management team will hide these results in some other Ann too.
....seems to me the "World Class Management Team" we thought we had are turning into world class spin doctors who are becoming adept at advising the market in a not so transparent way - my opinion, it reflects very poorly on them and has eroded trust that they cant come straight out and say results are crap.
......and now we're waiting on copper results. The market knows about these results coming, the know what Hammer has, they know what the IP exploration has shown. These results are imminent as well......but the price keeps going down.
End of the day yep, I was extremely bullish on CNB, i personally had expectations of the share price exceeding $2 fairly easily. But that expectation was based on results I thought were coming, not the extremely poor results that have now surfaced.
I still hold a free carried parcel but the risk reward here has changed significantly in recent weeks. Putting raw capital into these guys now is not worth the risk. They have very little upside in the short term and the market has basically no interest in them.
As has been posted a number of times on here of late it's just existing holders buying more that is supporting the share price.
That's not sustainable and there is no bigger red flag on a low SOI company than seeing a 'cheer squad' trying to save a company from tanking.
CNB came to attention and significantly rose in price based on gold.........to date that hasn't paid off and it now appears to have been forgotten by most, especially the new holders. Everything is now on the copper fortunes of the company......wait for a moment and think what would happen if these new 'imminent' results weren't up to everyone's expectations?
I don't wish anyone to lose money here, as I've said all along I still hold so obviously I don't want to lose profits either. Fact is though CNB is not looking healthy short term in any way.
Remember there is news due, it's actually overdue - This management team is now known to hold off reporting dusters and report them hidden in other ann's. Argue the point if you like, but it's now happened a few times.
.....and before you start the argument of 'It's a listing responsibility for them to inform the market of material results as soon as they become aware of them" yep, I completely agree with you, they are required to inform the market of anything that will have a material impact and they do.....dusters have no material impact. These guys are explorers - they have nothing, they drill and find nothing.....that means there is no material impact to the share price as a result of the exploration. They only need to report if they find something.
I honestly don't care what people think of me on here, I'm not here to make friends, I'm here to make money and talk about the 'instruments' that make me money. You can argue all you like but at the end of the day the market is talking for me.
When CNB was in the 20's months ago i said it was worth more - and at that stage it was based on expected newsflow - market reacted and it went up by about 100%. So....I was right.
News came, it was much worse than expected and I said CNB was worth less - what happened? Yep, price went down and is continuing to go down.
Just because my thoughts don't align with your thoughts it doesn't mean I'm wrong.
As I've posted previously 'ego' is one of the worst emotions you can have in investing. Drop the ego people, you're not 'right' on this one.
28-29c close today
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