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To Violet and Ron, when we small investors are near or at the bottom end of the information chain, prudence is called for and resisting hype makes good sense. CLN is a stock I have owned more than two years. I bought it mainly because of its reliable, competent C.E.O. and Board. All are dependable including the recently acquired, US experienced mining engineer cum director who understands the nature of CLN's US acquisitions. Two years ago I learned through painstaking inquiry that CLN not only had quality people, but also had recently acquired a gem of a property called the Blackdome Mine. As I am very familiar with this property, I know that given time in competent hands it will again produce at very low cost. It came complete with a modern mill and has already achieved a rehabilitated mine containing proven ore along with with higher potential ore than ever before suspected. Combine all this with a valid permit and this is a sound investment. The company is debt free. It is not the flash-in-the-pan play that most other exploration stocks are. I am not nervous about zero gains over the 2 yrs as I am in for the long term and prefer a careful build up to premature, exuberant stock pushes that just fizzle. I share with Ron the disdain for the shafting PPV shareholders took in Casavant's hands. Apparently he hyped property that was only moose pasture then personally blew off a lot of stock. I wondered if he was able to gain control of CLN and do the same? Recent inquiries assure me that while he has become a big shareholder, he is only that. Moreover his positon remains minor to two other groups who are in alliance: Management's insiders are one group and the other group are the people who dealt the Blackdome over to CLN three years ago and are firmly interested in it operating. So Casavant cannot become more than an exuberant shareholder, much like Silviu who started this thread. Suppose he is able to tout it up until it reaches $5 just so that he can blow off his position, something he is known for, I am not at all worried because it will recover in the many hands that absorb it, as the underlying value for the future is there. Significantly the Blackdome is not the only quality property gained by this management. They have others, and are continuously looking at more. To me CLN is all about the quiet ability to negotiate and acquire quality holdings without incurring debt. Now that takes competence! And it will pay off. Silviu maybe exuberant, but time will prove him right. It will take a little longer than he says, however. Conclusion? If CLN moves up slowly it will be steady; but if it zooms up, it will fizzle back. If you are at peace with it, as I am, you will not care how soon Casavant gets out, or at what level. CLN will be around for a might long time, unless of course some biggy offers the enticement needed to swallow it whole. But I do not foresee that being an early possiblity, do you? |
