Hi Seaemay, only my opinion, but I doubt the SP will shift much on any good drill results. The SP may kick up for a day or two but then it'll return back to it's record lows unless there's a change in attitude from management. Marcus needs to own any future successes and prove to beat a positive track to production and distance himself from the rest of the CAS board IF there is to be any meaningful move upwards in the SP. Why? Because the rest of the board took shareholders for suckers. That's a cardinal sin the speccie space. 73% of trades on the ASX are by funds who generally avoid the small cap space because funds have a exit rule which means most small caps aren't liquid enough. Out of the remaining percentage only one dollar in five ends up in the small cap (speculative) space. When only 7% of ASX money heads to the spec space, any CEO of this space needs to be even more careful than your average CEO. Investors understand they are taking a much bigger risk with their money by gambling on such companies. The worst thing any CEO can do is reinforce that risk. What we have at the moment at CAS is a lot of long term holders who can't afford to sellout. But NO new investors willing to buy into CAS because CAS management over the last few years has shown that CAS is *TOO RISKY TO INVEST IN*. The thing that has surprised me is that no one apart from speccie recently, has questioned why there hasn't been an EGM called to try and remove the dead wood in this company piling up at our feet. One of the Directors I know must be a good talker because some I know talk glowingly about him. But unfortunately what he has said will happen, and what has happened, are two different things. I'm pretty annoyed that it will take a miracle for me to obtain my lost money back from my CAS investment. But I knew the risk, in hindsight I shoulda' had a stop loss in place. But what has floored me over the last few years in the general incompetence. They either have a lack of experience or were way too ambitious. Either way to buck must stop with them. What makes me laugh is one particular slide that they keep showing in presentations. A company may show Enterprise Values, NPAV's or whatever. They will take the total number of proven ounces (Gold) and then divide that by the market cap to give a figure the market values each ounce at. CAS is at the bottom of any chart in that the market values each ounce to market cap very poorly. THAT'S an indictment of CAS management and how poorly the market sees this company is being run, the irony is CAS management mustn't see it that way because they seem to show the slide with glee!
CAS Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
