I was sent the latest Hartleys report on CJO from CJO as i am registered to receive information from them. Did anyone else get it? Interesting read, but was digested with mixed emotions for me. Given a favourable write up with "accumulate". That said, the 12 month price target given was only 30c (with a proviso that this is potentially well underdone if Namiquipa yields better than their expected reserves) I bought in at 28.5c so not too excited about that at all, although would be happy to get back in the black. The main concern mentioned in the report is similar to that on a few posts here, the funding for Cerro Del Gallo.
I think my experiences with CJO read as a leson in what not to do in shares. I bought in at 26C based on some research, but if I am really honest I was being overly influenced by some previous great success with Bolnisi gold so was hoping for a repeat given the same management team. When they were on the sky rocket to 37C, I got so excited picturing my upcoming riches, that I made an emotional buy. Bringing my average purchase price up to 28.5 but more importantly, exposing me more than i am now comfortable with.
Now I am not sure whether to cut my losses, or hope that the timing of some good news out of Namiquipa and the Cerro Del Gallo bankable feasability study timings manage to bump the price up despite any issues with funding on Cerro Del Gallo. Who knows what order of events the news on these will come out in. Probably I will continue on with the example of not what to do and do nothing out of uncertainty! :)
CJO Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
