We all know we are betting on Cobalt ?, page-225

Hi GW,

CNJ are currently well supported in early German trading, but on much lower volumes than last week.

It is obvious that all investors are now waiting for the next CNJ announcement before sending the SP well over 10 cents (in AUD).

Disclosure: I have been getting a lot of flak on the EDE thread for buying and selling shares (I thought this is what you were supposed in order to to do to make money). In this regard, please note that I sold 500,000 CNJ shares on Friday. I still, however, hold 3 million CNJ shares. I am now essentially "free-carry".

It is my opinion that CNJ is fully valued at the moment, given what we currently know about the drilling progress in Greenland, and with regard to the risk/reward ratio.

Having said this, should the next few annnouncements be less than extremely good, the SP may take a tumble. If on the other hand, the next few annnouncements are extremely good, the SP will be off to the races, and a SP of 20 cents would not be out of the question (I believe that this latter scenario is the most likely).

Cheers.