Gotta tell you Mihal, after reading that report last night it didn't make me want to go out and buy the rec stock, it made me want to buy more Conti even though they were not directly referenced. I can't really expose myself to any more at this stage :(
There were things in that report that I wasn't aware of (particularly in relation to Botswana) IMO this story is getting better and better and better by the day now. I mean, what would a T/O premium be for a 6bill tonne resource in Botswana alone be, let alone developing it - the mind boggles?
Then we have Kenya, and probably other things (how many of the 13 pieces of sensitive information are left).
I have no doubt now that there are a number of institutions that are well aware of this, and are taking advantage of the current liquidity situation to accumulate shares from the "SI's", traders and weak hands.
Forget all this talk about no significant holders (OchZ coming on yesterday should put that permanently to rest, let alone the Nominees accounts of JP Morgan and HSBC (or Morgan Stanley sorry can't remember) that are really over 5% but just not showing up because of the way they have split them on the register - they are accumulating people!! Don't get played, there are people out there that know what this is really worth, and they want your shares!!
Also think we should put this talk about directors not owning shares to rest. Look, I can totally see where people are coming from with those questions, but the three main directors have just got 200mill options for free. Now I don't know how wealthy these guys are (and don't really care, it's none of our business) but if it was you, why would you want to stump up a few more million when you have that much already at stake for free. If I was a director I would probably not want to expose myself to any more risk in one investment, let alone the obvious inability due to price sensitive information.
This stock IMHO is now being held down on purpose for the sake of accumulation, and these insto's will keep this up as long as they can.
Looking at all of the facts, I would say don't play into their hand because Conti is going to be a monster...
CCC Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
