1. The shares on issue - takes time to move into safe hands. In some sence the longer it stays low the more likely for long term holders to eat up the fickle shareholders.
2. Despite confirmation of Gold and Silver's direction - September is when the professionals rejoin the market after the American summer.
3. Mexico has so much going on - the dissapointment of the delay for the BFS and then the capital raising which was not fully subscribed may be a 'wait' sign for people thinking of buying. Why buy Cerro if other companies have more money and are closer to production or in the discovery phase. In between the BFS and commissioning is the orphan period for most miners. This period will test the metal (pardon the pun) of managment. I suspect there are far more watchers than buyers right now.
Three reasons why i will hold my shares
1. The projected cash costs are low - the market wont ignore that 2. The share price is only valuing stage one of CerroDel Gallo giving a 0 valuation to everything else - ie its undervalued! 3. The metal prices look like they are prepareing for a surge - Cerro will get dragged up with the rest. Give the market time to invest in the producers then money will be available for the juniors.
Patience! Buying under 7c is something to consider IMHO (not investment advice)
CJO Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
