Argonaut has been the dumper over the last 3 weeks - not big relative to Pattersons during Sept/Oct, but big relative to the rest of the amrket over course of November.
Reading all the posts here there is a hell of a lot of people who are showing theri lack or REAL understanding on market sentiment. I say that because CEO's "woes" are representative of what is happening across many many stocks at the spec end of the market.
There is simple ZERO interest in stock markets globally right now, and LESS THAN ZERO interest in speccies. The only activity is from sellers that need to get out for whatever reason. In a bull market, CEO would probably be 10c right now - even doing nothing different to what it has over the last 6 months. In fact - it would probably be 15c or more.
Nothing is going to change here until drill results hit the mark and market sentiment improves. In certain circumstances you may find the share price does NOTHING for the next SIX months or greater.
The only thing I do know is that I have a positive view on the people running the show. Whether it translates into share holder riches down the track is completely dependent on hitting coal, and executing strategy.
This is not one for traders - it is a stock for true believers who feel they have identified a stock story that has some very deep value inherent in the bowels of the business.
CEO Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Not Held
