price will jump next week, page-30

Nannook,

Noone would bag you for having a view? I also happen to agree with you (so they can bag me also) in respect of a corporate play happening but I am not at all sure as to whether or not it is currently being played out. The corporate currently in the drivers seat is clearly GF but their actions will naturally be a function of its work completed on the greenfields JV area. If it proves up to expectations, GF will not want 50% but rather the whole lot and additionally, they certainly will not want CQT along for the ride with a free carried interest. This leads to two possible outcomes- an offer pursuant to the option agreement or a takeover of CQT at a price acceptable to the Board of CQT and their shareholders. Who knows what this would be other than to suggest it would be linked in part to the inground value of the resource. The underlying issue for me is that GF already has 10% of CQT. If the latter played out, GF would want the CQT shareprice as low as possible. They already have 25m shares so they have got stock to play with. In fact, imo this holding is of no real significance to GF- they would be more than happy to use it to hold the price at a certain level or one that could become the basis of a takeover offer price loaded with a sharehoder premium.........
It would be interesting to know how many shares they in fact have now ie if there has been any material change in its holding. Having said that, it would not be out of the realms of possibility to have friendly but legally distant associate entities (not nominee cos)to accumulate shares so that the share regsiter indicates at face value, no apparent change in its holdings.

In the meantime, I think that Steven 1234's comments are probably also on the money. But moving in and out of CQT is dangerous so like others, I have adopted a longer term strategy and more than happy to hold with the view of an unwinding corporate play, albeit slow and other forms of corporate support as the realisation of the CQT opportunity becomes clearer .

ciao