GAL discovery-impact on Mt Thirsty?, page-367

Hi slick,

thanks for your chart and your comments.

Coincidentally, 4 cents is my next short term target for CNJ (MC of A$50 million). It is nice that your TA looks like it aligns nearly exactly with my FA.

Having said this, I buy and sell only looking at MC's (not SP's). In this regard, have you ever done a chart based solely on MC's? I work on MC's in stages i.e. A$10 million, A$15 million, A$20 million, A$25 million, A$50 million, A$100 million, A$150 million, A$200 million and so on all the way up to A$1 billion.

For the record, in my experience, junior stocks who have major discoveries often reach a MC of A$100 very quickly, but stay there for quite some time i.e. until their project becomes JORC compliant, a PFS is tabled and then the mine enters the construction phase. On this basis, and if CNJ does make a major discovery at Mt. Thirsty (at tenement R63/4), which is looking increasingly likely, I expect the SP to hit at least 7.5 cents (MC of A$100) well before the end of this year.

With East Greenland being a completely different and separate kettle of fish, if CNJ have a major discovery there, CNJ would then have an additional MC valuation of A$100 mllion (on the back of one major discovery).

Therefore, if CNJ was to have a major discovery at Mt. Thirsty (R63/4) and also one in East Greenland, the CNJ SP could reach 15 cents (MC = A$200) before year end.

Having said this, in East Greenland, there is the possibility that CNJ will have more than one major discovery i.e. quite possibly one at Sortebjerg (within their Mestersvig tenement), an at least one within their Ryberg tenement (e.g. Miki, Sortekap, Pyramid, Cascata, Quest or Qiterpiaaneq).

Without getting too carried away, CNJ will have an awful lot going on over the next 6 months, and IMHO, they will really only need one major discovery in order to reach a MC of A$100 (SP = 7.5 cents) before the end of this year. Right at the moment, this is looking like a distinct possibilty at Mt. Thirsty (R63/4).

At Sortebjerg (within their Mestersvig tenement) I am also quietly confident (see my separate post under the thread title: "Previous Drilling and Assay Results from Sortebjerg etc. at Mestersvig - November 2011")

Cheers.