I noticed yesterday about 8 million shares on the buy side and only about 1 million available by sellers, so one big purchase could have moved the price to about 10c
today it looks that some big profit takers have moved in
regarding narrow vein mining
what I like about CGT is that it is following the scenario of Perilya and SLR at the Daisy Milano mine
Perilya built the mine but using bulk mining methods it was not profitable, SLR acquired the mine cheaply and are using sensible narrow vein mining techniques that are hugely profitable
at Ballarat it was Lihir (many thanks guys) who developed the mine at huge cost and used bulk mining methods that were barely profitable and now it's up to CGT to mine it at substantial profits using what I call selective extraction
it's obvious from the announcements that CGT knows how to do it
CGT Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
