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09/08/19
10:55
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Originally posted by 2ic
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I think there was Chi-X midpoint was a seller, ASX mid-point was a buyer accumulating. Long post discussed but moderated for a friendly jibe sigh. I leaned a bit from the exercise, always happy to learn more. What is clear is that there have been more buyers than sellers for 2.5 months now accumulating stocks in the recent uptrend. That uptrend has broken through decisively I think. The stock is too loose now to run hard with soaking up profit takers and traders imo, though happy to be proved wrong. Still oppie holders to raise funds for conversion or take risk off the table so it won;t be a parabolic or straight line.
What is this worth... $1.25 at $1500 spot according to Hartleys and at least that for a takeover. Being the cheapest and largest Reserve quality next developer on the ASX you have to think that now it has broken out there is catching up to do with he rest of gold stocks despite the oppie overhang and risk of a diluting funding CR on the horizon. If Archie cannot sell a modest discount JV deal to anyone from the big boys down to Centamin etc then he wasn't trying. Is there a more likely, better value gold takeover target on the ASX than CDV? If so please tell me, I'm looking for the next one.
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I certainly haven’t found it. I agree Centamin could be logical buyer if Goldfields goes and focuses on something else (like buying AGA’s South African assets). They could also JV it between them.