<Stock has had a little more bark than most of the dogs in the group as the chart below attests.>
Well Jimsoi, we are in CKG since $1.70 in mid 2002. So for us, that is an excellent performance for a stock that had no properties back then.
< I own a little, but superior performance can end quickly if your rocks don't have ore, and especially when they have to come to market for more cash...>
Well right on the first count.. they might not develop an economic reserve on their first property. But they have lots of properties to work with and $26 millions in the bank. Forget about the idea of them coming to the market for more cash.
<We all know their prospectors can stumble over a rock, call it an identified reserve, rush to the market do a bought deal, do some more drilling that takes years, promise a feasibility study, go for more financing, let the shareholders get taken to the cleaners by the Canadian brokerage crooks, THEN MAYBE come through with a feasibility study that shows they can make 15% after a road and power is put to their remote, dangerous, inhospitable location BUT they need another half a billion dollar to get started SO more private (pirate) placements, debt and shareholder dilution....>
The above is the definition of the average junior. Chesapeake is not the average junior. It is a real business with people that have only one goal: to increase shareholder value. That is why CKG still has more cash now than when they were formed in 2002. They also have more world class targets than most average gold companies. They took 30 months to assembled these targets. They did it by very carefull exploration of over 100 properties. They have yet to drill a single hole because they do so only on properties with very high probability of discoveries. They do not spend a dime on promotion, because they believe that the bottom line will be there promotion.
<Without $500 Gold I am wondering are there enough fools being created (or left) to elevate many of these aspiring juniors past $5 per share...>
What counts is the market value net of cash. Have you done the exercise of comparing many of the popular juniors (those who are promoted and do not have any resource) with CKG on that basis.
BTW, CKG is not only a junior. It is also the exploration arm of a few seniors that know Randy Reifel and his team. They are waiting in line to take over CKG. |
