With all this good news about, selling may seem a little odd, but it should be expected. A few % profit may seem like scraps to investors. However, "price only" traders appear to be quite nervous and are happy living off these scraps. As if that is all there is in the market these days.
It gets down to confidence in the prospects of a company from an investment point of view, or having a try at making a daily pocket full of silver.
Therefore expect the volatilty.
With its consistently good news over the last twelve months, CQT appear to be on the brink of investment grade status, and this coupled with the increasing price of gold should not be ignored. When the chief geologist is on recent record saying the gold resource alone has been lifted to 2m ozs, making for about about Aust$2b at current prices, it's not too shabby for a company with a market cap of a mere $135m
Then there is the added value of the silver, the copper, and the very strong likelihood of an ever increasing resource base due to the fact a mere fragment of the area has been defined.
For what it is worth, I think Danny Chan, the advisor from Hong Kong may be the same entity who showed up on the Conquest register a few years ago as a 9% holder of that company. He, of course was the troupe leader last week for the investment group from the PRC.
It would seem that Conquest alone do not intend to fund the mining operation, nor will Gold Fields International in isolation. Indeed, a consortium is needed, such is size of what they have in front of them. Their Geo is on record saying, recent figures -large even by world standards � could be overshadowed by a resource reserve of mind-boggling proportions.
So what's in a price chart? - Daily sentiment, mostly.
CQT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
