Pretty clearly a breakout ... it's like looking at a kid's colouring book, you can see if they've coloured outside the lines or not [the freethinking artistic ones do, and that's just fine] ... well this thing coloured outside its 14-month lines, period
What does it all mean? is now the question ... well the little ten-per-cent-plus bump in silver didn't hurt, following the metal's long slide ... but bay wouldn't have reacted if no one was watching it, so its movement now suggests that it is at least getting recognised as a vehicle for playing silver, perhaps eh
A principal factor i think is the effect of that deceptively boring feasibility study stage that all new producers go through in this sort of resources market ... we knew full well over two years ago that Corner Bay had a for-sure mine coming on ... remember this - #reply-12058559 - that foldout that came with the 1999 annual report? ... that was clearly a mine, a whole hillside of high-grade just itching to be shaved off onto a flattish spot and leached .... but mines don't work like that, first you do prefeas and then you do the feas and in between lots of infill drilling, and lots of menial business and regulatory chores, and you line up mining talent because hey it's a harsh market out there and maybe the majors aren't going to bid against each other to maximise your value for you so you can cash up and move on to your next exploration adventure ..... time passes while all this so-useful work goes on, and it's boring, it is the very antithesis of 'adventurous' which is what all your cowboy speculator shareholders are in for, so they start shedding paper, looking for something else ... then they shed some more, and a downside trend is established ... at a certain point others begin watching, let's call them 'investors' shall we, they notice that hey there is value for money here, and a significant leverage to the PoAg, and some of them like that sort of thing, so one buys and then another sees that and he buys some, and pretty soon many many moons down the road you have a breakout ... and it is a breakout ... certainly it broke out of the line i crayoned on my screen -g-
What will it do by April/May, this is the thing ... meantime i don't much care, it would be a raving buy at 2.00 and i'd be tempted to take profit as it pushed 5.00, within that it's a hold for four months minimum to me ... there's always the possibility of takeout, as brian krause suggests upthread ... i missed the wsp.v takeout, on that 25 June i had just finished getting completely bored with Winspear, sold right out, and it doubled that morning ... well not with Corner Bay, no way ... ¡till death or taxes do us part! |
