Buyers have all gone off to invest in other companies that have mining licenses.
Until CGG get's one the sp is going to keep getting hammered. Unfortunately the Saudi's don't really care to much about CGG's sp.
Although some engineering is continuing, they certainly aren't going to meet their mine plan for next year. If it doesn't get granted soon the engineering will stop as well or they will be burning eng hours for no gain.
Time for Innes and Ralph to start earning those hundeds of millions of free shares and options.
CGG Price at posting:
30.5¢ Sentiment: Sell Disclosure: Not Held
