Firstly a reply to Rennies:I couldn't agree more. If you read...

Firstly a reply to Rennies:

I couldn't agree more. If you read all of my previous posts I clearly identify that normal charting rules cannot be applied firmly on low volume stocks. Also I clearly identified that "With such low volume though, it will be guaged by sentiment so I look forward to a new announcement real soon"

Sentiment has been bad overall with the EURO, US and the overall global slowdown.

We had a previous day where gold and many juniors got nailed because of the hammering global stocks, especially gold and silver, took overnight.

Many LT traders are fully aware of this follow on effect and often sell and withdraw from global stocks. Hence the change in buy/sell status.

Also, if you happened to watch the news you would have noted that the local tribes in Brazil are heavily against the forrestry carnage and the rapid development growth especially in the cattle/farming industry. For many reading news like that has a flow on effect.

Where to from here and where is CGM at?

CGM itself is in a far better position than it was in when it was at 10 or 20 cents IMO.

It no longer has massive debt, CGM is cashed up, Yes it does have a low market cap but a great opportunity to get in on the ground floor. The follow on effect from the Patterson's Cap Raising in 09 is long dead and buried.
We have all the positive things that have been boldly discussed in the past. Tailings now being processed with the cyanidation plant. Drilling and exploration all ongoing and our first gold bar from the cyanidation plant real soon. We have no immediate need for an SPP. Being a dual shareholder in both a drilling and a gold producing/exploration company could be on the cards in the next couple of years. CGM holds many finds in their tenamented areas to be mined in the future including those "Bonanza grades" and the ongoing tailing finds from old mining in the area. A lot happening and I'm happy to be a LT holder.

My greatest wish personally with CGM is that they would be more proactive with announcements........but they have their reasons...I guess.

GL everyone
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IMHO DYOR, Remember there are many companies on the ASX and global stock exchanges so DYOR and choose carefully what suits you personally, everybody's needs, opinions and interests are different.