Don't know why you do it to yourself......so here's 12 months......
You can argue the trading range but regardless it's heading down. Really interesting to note is the pump and dump traders stepping in and manipulating the share price because of the very evident cheer squad that exists for CNB and the associated low SOI.
So many times we've seen holders (some of them very financial) post they are buying more and more as the price rises and that they wont be selling a single share......if I was a trader what do you think that would signal?
So back to the
12 month chart we see an obvious peak in Oct with a slow decline over 4 months then a base. Late May we see the same thing....only we made lower highs.....it could be argued that we 3 mths into the next decline. Look hard at the chart pattern - see any similarities between last years pump and this years? I admit this years dump has flattened a little.....but believe that's due to anticipated news coming through - hate to think what will happen if that news isn't stellar!!!
One thing that should absolutely be kept in peoples minds is that last year the copper play wasn't in the equation, it wasn't factored in to the price in any real way. No real exploration at Mt Isa had been done and the rise was based on Strelley and Tick Hill gold prospects. Guess we could call this 'banked value'.....or it should be 'banked value' if the market saw it was worth something.
Now we have these copper hits, people are crowing about how amazing they are and how much extra value they are adding to the company. Stop and think about that for a minute......we still have exactly the same tenements at Strelley and Tick hill for gold that give us some banked value (actually, extra land at Strelley if i remember correctly) and now we have this new value at Mt Isa with the copper.
Banked value Strelley/Tick Hill = 55c a share (at peak)
Banked value Strelley/Tick Hill
+ Mt Isa copper = 50c a share (at peak)
.......so how are we now worth less?
Yep, gold has gone down.....but copper has gone up. Regardless we've added a whole new resource to the pie and we're heading down again.
Call me a downramper, call me whatever..........but at the end of the day nothing here adds up in my mind for a meteoric price rise tomorrow.
Holders here don't have access to any more info or are any better trained than the multitude of very intelligent and astute investors out there.......so why are you people the only ones interested in CNB? Could it be emotion has got the better of you and you're holding regardless?
(20min delay)