gold guru peter palmedo has taken a big stake in CVY
a useful story from Morgan Stanley on Palmedo is at :
http://www.usagold.com/gildedopinion/biggs.html
'Over the next decade, Peter became arguably the most knowledgeable gold analyst in the world. He totally immersed himself in the study of gold, always applying his option-pricing theories. In time he built a four-man research team of geologists and mining engineers that probed mine sites and generated detailed inputs for cash flow and resource value models. In addition, he uses dynamic valuation modeling and warrant theory cash flow to determine accurate and consistent corporate valuations.'
CVY has a MC of $33 million, and $10 million cash.
Palmedo obviously thinks CVY's 1 million ounce+ Canadian gold project has a value that significantly exceeds the difference.
It also looks like someone is working the price down to accumulate more, throwing up some very good buying opportunities.
CVY Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
