.Trev told me about this stock. I have talked to management at several conventions in the past two years. I don't trust the Columbian deals even with Anglo involved,...only because of political risk,...the geology is very interesting though. I like the PGM plays in the U.S. but I don't think it will be "big", because I don't think the geology is really exciting. That's just my gut feel,...my guts have lied to me before (ggggggggggggggggg).
Take a look at the stock chart over the last several years and you will see some trends. If you currently buy in the low teens and sell in the high teens or twenty cents range you make some money. A year ago you could buy in the low twenty cents and sell in the high twenty, low thirty cent range. A shell CDNX company is worth about 3-5 million dollars. So there is little risk buying a company with such a market cap,...you just have to wait for some newsworthy excitement and it can easily double in market cap. That's when you take profits and go to a few thousand freebies just in case it breaks out. Cynical,...yet effective.
1 of 100 geology plays pan out to become something. I buy this particular POS ("piece of chit",... as all these stocks are,...including Nortel,IBM, Banks, GE, etc) at sub $.10 and wait for a rise to sell,...I'm a trader when it comes to any stock. I currently have only freebies in CMG (just in case) because I recently sold on the latest rise.
I don't trust a single newsletter writer or ANALyst of any brokerage firm. They are all full of chit, and are probably selling to you after their recommendation to buy. If you are playing these penny mining stocks, you should be taking courses in geology at your local university and attending as many conventions as you can. Don't trust anyone because the only thing management want you to do is pay them a salary and fund their dreams. Only 1 in a hundred dreams pan out.
I'm sorry I can't be more optimistic,...but if you think about it, playing a stock by buying 50000 shares at ten cents (only $5000 at risk), and booking a double ten times makes you $50,000. If you do that with ten other stocks you have a half million and can retire and live in luxury,...even today :-)))) CMG could be one of those stocks,...just don't get greedy. None of us can really pick the "big kill".
I know a lot of promoters and managers of stocks. The rich ones sell as the stock rises in price, but always keep a few just in case they hit the big one. None I know hold till the end. It's a business,...but the business isn't to find a mine. It's to find people to fund their office, lifestyle and dreams. Every now and then,...a few find a mine by accident (gggggggggggggggggg). |
