Tokyo, According to David Morgan you have made a wise decision buying CRE,because,"Money is going to be harder to come by(for mining companies), it will cost more to get it, and shareholders will expect to see tangible results for the expenditures. If a company is not looking to either start production by themselves, JV with a major on a project, or at least have some very good-looking property to prove up over the next 12-18 months, they could be in real trouble."
Read the full article here: http://www.kitco.com/ind/morgan/may052008.html
Seems to me CRE is cashed up, has proven reserves, is producing gold by themselves, has entered uranium and other metals joint ventures and has good-looking properties to prove up over the next 12 months.
Technically the chart looks ugly but the sp is nearing major support around 20-23c and if that holds any good company news together with a surge in the gold price could see a major reversal in the sp. Looking to add to my holdings over the next few weeks.
CRE Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
