Hi all, it is understandable to feel all the frustration at present. But is it CJO specific? I have been looking at a few other explorers and their present prices were also just a fraction of their boom time price. There are some exceptions but they are many where the share prices are similarly moving backwards after each milestone towards production. Over the last few years, the whole market have been shell shocked by shorting, destruction of wealth etc and there are not many investors left who looked at a company from a long term point of view. During the boom time, the explorers are priced at many multiples to their expected earnings in 8 years time. In boom time, we imagine more boom. In gloom time, we imagine more gloom. In boom time, the management are heroes because the price is performing well. In gloom time, they are zeroes and they mess up the company and all the conspiracy theories come into play. Our investment strategies are based on our belief system. What do I believe? The management is doing the best they can in this very difficult climate. If i believe otherwise, I would have pulled out long ago. In the boom time, we are so sure tomorrow will be better. Right now in our gloom, we may feel things will certainly be worse tomorrow. I am a long term investor. More and more junior explorers are slowing down their explorations due to finance issues and how are the big miners going to replenish their depleting mines without new mines being discovered. Sooner or later, companies like CJO will be re-rated as supply become a rarity.
CJO Price at posting:
7.7¢ Sentiment: LT Buy Disclosure: Held
