Consider:- 1) Drilling at Mt. Phil iron ore site has commenced since last month. 2) Drilling rig has come omto the Namiquipa site sometime last week after some delay. 3) Feasibility studies for Cerro de Gallo is currently being upgraded to bankable feasibility studies and will be presented to Goldcorp in the next few weeks. CJO is in an interesting position. A major gold miner, GC, has to make a decision about CJO--ya or nay. The current share price has always assume a nay but priced well below the significance of a nay. I understand they stand to forfeit their entire remaining interest in the Cerro mine if they say nay. As I have worked out earlier, that equal to a valuation of $1.31 per share for CJO. I doubt GC would want to be a junior partner in the project. If they are interested, they would take over the whole project and pay us out. Guess what a few hundred million dollar would do to our share price and the fire power it gives us to pursue other ventures. Hang on tight, long termers. It won't be long. We cannot help having short term traders affecting the short term prices but the fundamentals have improved and will be priced appropriately soon.
CJO Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
