I can not comprehend CNQ has dropped from $0.125 consolidating at $0.115 since 3rd week December and with turnover of say 1.5 Million shares the share price closed yesterday at $0.093.
What’s changed? First production on revised schedule for Late Feb. Tungsten price holding. Understandable cost overruns like all projects these days. CEO resigns and a new very experienced CEO appointed. Project Manager/Mine manager appointed. Current drill results positive. Updated JORC & Scoping study around easter. Experienced Director stepping in as CEO to fill the gap. Off take agreement letter of intent with Mitsubishi impressive. Suggestion of need to raise more capital. Well we are at stage 1 of 3 for the Mt Carbine you would have to expect more capital required. You have to spend money to make money.
I believe we have a buying opportunity. I am just hoping the sellers don’t start selling at these levels as I believe CNQ with production around the corner should be consolidation around $0.11 Plus.
I really hope CNQ has not been sold down to buy in cheep. I just cant comprehend if somebody needed to sell out why not do it slowly therefore holding the prices up and getting a better return. Why dump when there is so much upside?
Please DYOR.
Sit Bach and enjoy the ride. (Bumpy)
CNQ Price at posting:
9.2¢ Sentiment: LT Buy Disclosure: Held
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