CVY 0.00% 11.0¢ coventry resources limited

this is the baby in the bathwater, page-15

  1. 199 Posts.
    Spot on - JM2110 - unfortunately there is absolutely no correlation in CVY's share price and the price of gold. That is simply to do with the fact that the gold is still in the ground (well except for the 3,000 oz in stockpile waiting to be processed).

    The gold being still in the ground and not having an actionable plan to etract it is what is holding the SP down at the moment.

    Good news is that these feasibility studies along with a mine permit application are expected within 12 months. I'm also very confident we'll see a whopping improvement in the JORC in this time frame as well and this will be the catalyst for a signficant re-rating from these prices.

    All that cash CVY is sitting on at the moment was put in there by investors who paid 26 cents per share - compare that with the 16 odd cents it is trading at now and you'll find that the risk has been signficantly deleveraged from this share.
 
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