Hate to say it, I was a long holder on CLA but significantly decreased my holdings after the delayed SS.
I can see most also followed.
I sold the rest at 11 c.
I was hoping for a re-entry, but the way the market is acting and the way I feel management has dealt with this delay isn't great.
You can delay an announcement, but don't leave investors in the dark for 3-4 months. What did you expect would happen to the SP ST? People are impatient. The Co price dropped. There is nothing for the market to latch onto. The recent update states that the EM survey also still isn't due till the end of September, and then the SS the month after. No one really knows what the EM survey will do for $CLA either ... it's all pure speculation.
$CLA is now incredibly oversold. This is such a shame as I think this stock has huge upside if BB can nail that SS. However, logically ... the market seems to think that they haven't at present due to the lack of updates and delayed SS.
It's all a bit ridiculous. Part of me is also very frustrated at the huge dump that was taken prior to the delay based off of what I assume is inside info. On a side note - would be nice to see $CLA move to a different brokerage firm.
Don't get me wrong, I have been here before. I have held when the sentiment on $CLA was negative and it prevailed - JORC was incredibly bullish.
However, there's a lot of ducks here that aren't lining up RIGHT NOW. Until investors see some confirmation, whether it may be transport and electrical costs, that the mine can produce a good profit .... it may continue to slip.
It's now below 10 c, approaching 9 c. It's incredibly disheartening seeing this is now lower than what it was at the start of the year.
Also, this HC thread was incredibly bullish and filled with 'rampers' that disregarded any countering arguments. I can appreciate why the TA play wasn't viable LT, but in hindsight, you can surely appreciate that it was correct (flook or not). Same with those posters expressing concerns about the delays and the feasibility to mine with $CLA's grades. Rather than arguing why $CLA will go up, we should be appreciating any insightful contrary opinions on this play.
Hopefully, the end of this month sees $CLA back where it should be. May see a lot of old investors re-enter, along with new money flushing in.
Good luck all.
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