I'm doing the same. Let's see what the quarterly report brings. I too have lost a great deal on repeated promises from the management. This time last year I questioned Frank about the direction of the share price and mused to him about selling - the price was I believe around $1.80 at the time - and he said "why sell now, they are going to $5 a share". Well they went close to 50c a share! Wrong there Frank! Maybe that's a lesson - never listen to the CEO! I wish I had sold the lot then. In that case I would have bought back and would be buying back now. My average would have been around 80c a share not twice that. Bevan has been talking about five million ounces for a year and two months. Where are they Bevan? There are repeated announcements that they have another million. Bevan said when I last talked to him that they could make the announcement now but weren't going to. Well the fact is if that is true, they can't hold on to information which shareholders should know. This is not a private company even though Frank and Laurence Freedman own 57% between them and it is very tightly held. The grape vine stories I hear are that three are three companies interested in acquiring the resource (one Chinese), the resource will end up at ten million ounces or more, that the grades are improving and the cash costs will be around $350 an ounce. Now what truth there is in these stories only time will tell. If any of these are fact now then the management has a responsibility to tell shareholders forthwith and not just give the facts to those doing due diligence on the company with a view to acquiring it. Hopefully some light will be shed when this quarterly report comes out. If there is no more information than in previous quarterly reports then some serious questions will need to be asked.
CRK Price at posting:
59.0¢ Sentiment: LT Buy Disclosure: Held
