Good morning, If anyone is interested, I saw what looks to be 'foreign' investors gathering on the front driveway of the T'ville office. A few 4wd's. More research perhaps. I work right next door.""""
Warnie, what sort of foreign investors. Did they have red hair, or did they look to be of Asian extraction.
It is my view management will be/are, looking for a partner to mine. After all, mulling over a commitment of $100m to start operations is a sign they mean business. The Chinese visit the other week was no accident, and there seems to be a presumption here that Gold Fields International will soon be making a pitch for the company as a whole, when in reality they are more focussed on just how much gold lies in the overall tenement. GF are not proving up the same ground as CQT are, they work elsewhere. The modest area within a 1 Km circle is the terrain Conquest are proving up, and this is the public eye of the operation, so this is where first mining operations will begin. Therefore it my view the company is actively seeking partners at this very minute.
However, later on when the resource in toto has been identified, we might see GFI make a move. Logically it matters not to them if the share price has justifiably risen to $2, or more. Focussing on a very cheap takeover price serves no good at this stage. Further, if one looks at their business tactics, it will be seen their entry into CQT largely came about when our local punters were caught with their pants down.
What GF did, was buy every single December 2006 expiry option floating around on the ASX just before xmas of 2006, then on the day of expiry, exercised them.
Such a tactic went under the radar, insofar as, GF did not have to reveal they were a major shareholder at this time. They merely had options to be one. Consequently during the early days post xmas of 2006/7, it was revealed to the market that GFI were now a major shareholder.
From this, one can see local investors are naive, constantly chattering about possiblities of, who will do what, and when, yet all the while missing the plain fact that Conquest have decent piece of turf they wish to exploit without speculators sending the price through the roof.
Now, back to the vistors. What did they look like.
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
