back of envelope calculations, page-5

Angers

I can only suggest absolute fear and the need for some instos/investors to sell in this climate has driven the price down way past where it should be (unless of course there is some thing wrong we dont know about. Couple this with merger uncertainty.

Sentiment is now king, fundamentals are not so improtant at present. CUO is still also considered to be a junior and has therefore faired alot worse in this environment.

If you look at the news comming out of CUO since late last year, its all been good. Increases in deposits and grades, increasing production etc. Unfortunately not many listening at present. However not much news over last few months + fear + merger + US market basket case = CUO price in toilet at present.

How crazy this all is, recall the rally we had in May I think, All ords went to 6000 +, and CUO to 71 cents ON BIG VOLUME, 7 mil + in one day. So was the market right/wrong then or are they right/wrong now? What has changed?

All that has changed was the market had a little stability and good news back in May and now it all gone south again thanks to the geniuses in the US. They should all be lined up and shot.

I hold truck loads in CUO. If this remains bad in the long term after sentiment turns for the better (which I think it must in time, but probably 6 mnonths away at least) then I'll be working hard for a long time to cover my losses.

However, I think, when the merger stuff is behind us, sentiement changes to the positive, this company will perform and recover to much higher than present levels.