Brazil: New mining legislation, page-15

A trader play implies the SP goes up - right now, anyone selling is making a loss or cashing out from a position that was worth double its value only a few weeks/months ago. Also, the big trades have so far been sells, not buys - we need line wipes in the other direction for people to start making money.

That said, I'm bullish as can be about CTM. Problem is, in spec land, the waiting game (i.e for drilling approvals or resource estimates) almost always means the SP stagnates or drops off a cliff. I admit openly that I thought 1-1.1c would be the base that the SP would stabalise at before good news begins to flow, but I guess some big holders just saw opportunities elsewhere right now and were willing to bet they could sell between 1.1-.8c and buy back in when things start moving again - guess what, they were right.

I got into CTM this time last year for a bit of quick money - which I got. But over the months the company's potential, particularly regarding the locations they have secured, caused me to make CTM my biggest play. And for once, seeing a paper loss grow (my new average is 1c after I sold my first stack at 1.7c after buying at .4-.5c) is not causing me any real concern. Sure, it would be nice if I could make some cash really quickly - who doesn't want a Disallowed overnight? But the reality of CTM right now is it needs more good Cobalt/Nickel drilling results, and most importantly, drilling approval for Salobo West. If both of those things come good, CTM's market cap could easily multiply by a factor of 2-4. And if all goes well at Salobo in terms of drilling results comparable to Vale's, things could get really freaking exciting.

For now, hold tight, no point selling at these levels, and do more research.