Well, i for one am really glad to finally see a trading halt....

Well, i for one am really glad to finally see a trading halt. One thing I have observed with CXO is that the management team doesn’t use TH all that often. We haven’t used them for resource upgrades, new prospects, potential gold finds, ‘world class intersections’.....but on review, all the TH in the last few years have all been for financial transactions. The most recent was when LRC invested (03 Jun 19) and the one before that was when Yahua increased their off take (29 Mar 19). The only other TH in the last few years was a Finniss Lithium Project update on 06 Dec 18 (it was released the same day as the TH incidentally) and this involved a capital raising for a strategic investment by Yahua and Ruifu - this might provide some insight into what we can expect next week. One positive is that CXO did not use a TH when we “lost” Ruifu as an active participant, in fact, if we are talking about trends, CXO just tends to not report overly bad news, seemingly hoping that the market just does not notice. If we add to this the first twitter post in years as pointed out by @qiktory today, then this is another sign that we are looking at something positive. A Takeover/part sale is a remote possibility and would be inline with the above analysis, but the numbers had better stack up and had better not smell of sharks circling while prices are low - if this is the case, I will put my sizeable holdings towards a NO vote.

It is entirely possible that MMP approval is the catalyst, but based on the above, it could also be another strategic investor coming on board, or some other form of project finance - I am just glad to see the share price not move down! No matter the outcome, i doubt in the current environment that we will go screaming north, but some recovery of lost ground would definitely be welcome. If we do have some kind of finance, then you can guarantee that MMP approval is in the bag - I think it is anyway, but if an investor is coming on board at this stage, then we are good to go.

There have been some comments today about a potential slow recovery for the EV sector on the back of COVID-19, but I think it might go the other way. If this virus has taught us anything, it is reinforcing that the way we currently live our lives is not how we have to. This experience is showing us, that there are other ways, and that we are not even remotely prepared as a nation/globe for the advantages that technology can provide us. It is entirely possible that on the back of this pandemic that businesses start to evaluate what could be and not what is - the recovery and the lessons learned could be good for us and could forge new industries to develop.

Unfortunately this virus is hitting the human race hard, especially in certain parts of the world, but economically, we have not seen the worst of it IMO. The US has not seen the peak, and whilst our market has recovered a bit, it is unlikely to stay where it is. Once we see the economic numbers starting to flow through the system, we will get a real picture of the true economic impact of a massive retraction in activity. I had a look at some of the market numbers for China a few days ago. They basically went from a high, to a dramatic low, back to a high, and now is settling back at the low again. I think we might see something similar - we got smashed, now recovering, then the data comes through, and we are likely headed lower again. I’m not buying anything at the moment - I could get it wrong and perhaps our market keeps going up from here, but I am forecasting that it won’t. If CXO does any more CR, i will probably participate, not necessarily because I want to, but more so to protect my investment by ensuring the company has funds that will see it through the next 6-12 months.

This is one of the first TH that I am not actually nervous about, not sure why.....just a feeling that things will be ok. In this time of red, I feel comfortable. Only time will tell whether I am crazy or not, but i guess if this is the case, I only have to wait until Monday to find out if I am certifiable.