So long as everyone realises that the "action" will result in about 90% of the issued capital, post entitlement 3B being on issue at a cost of 7 cents! I fluked into this one at 9 on a volume chase but cant bring myself to hold onto all of these ex entitlement. The company is capped at 6 mil now. After the issue it will only take 5 cents to capitalize CLN at 6 mil (excluding oppie dilution) and I will have to outlay about 6 times more money for maybe a mil ounces of modest grade Mali gold? Did I miss something? Yes, I saw their 40 mil peer comparison number but I wouldn't rate those companies listed as true peers based on current development cycles, would you? It will have to trade around 10 cents (12 mil)to match the profit I have now which means it has to double (from todays price) against the weight of stags in at 7! If you can correct me on anything or highlight a point I missed would appreciate it.
CLN Price at posting:
9.5¢ Sentiment: None Disclosure: Held
