I didn't see the study results as great shakes, however the market is only valuing their deposit (enterprise) at $38 million (Mkt cap 73-35 cash), which is basically saying it's worth nothing. Obviously KGC doesn't think so (and neither do I), as they own about 18% or so. Perhaps KGC will go back at it again? It's about the worst name I own right now, but I'm just going to hold it.
These micro cap stocks trade randomly and much like call options, and can pop not just on events, but merely because some buyer with a few bucks, somewhere gets a hard on for the moment, or vice versa if he gets limp. I'm sure CLG has some frustrated, capitulation sellers too. The overall junior market does have a better tone to it though, and companies that can deliver goods, aren't just being totally ignored, witness OZN this week on the Essakan drill results.
stockcharts.com[l,a]daclniay[pd20,2!b50][vc60][iUc20!Lf]&pref=G
Somebody asked about ANO? The study results are robust/impressive and are based on the very conservative assumptions. If the Rand starts weakening against the USD, this will explode, so I'm firmly on board.
To Claude on gold. I'm always friendly towards gold, but treat it as much as possible like an agnostic. Therefore, I'm prepared to trade and not always be a holder. I key on the spec positions, and lighten up when they get too offside. This approach has worked very well for me trading wise. Right now, the low risk buying opportunity that prevailed at 412-420 is gone, but I don't see a sell yet. On the stocks I use, I just do fade ins and fade outs, focus on the charts (*), and now have added the Rydex PM cash flow #'s (sentiment)that ild posts. I try to have exposure as much as possible because there is always the chance there might actually be some nice munches and buyouts in the sector again, and hopefully when I'm in. But I don't wait around and just hope, and have already had plenty of exposure if that's to happen.
(*) Example I did much of my MNG buying along the 1.10 base. I split the trades into a regular account and my IRA. I trade the IRA and try to go for long term cap gains on the regular. Right now I can see overhead at 1.32-1.36, so I will lighten up the trade position there.
stockcharts.com[l,a]daclniay[pd20,2!b50][vc60][iUc20!Lf]&pref=G |
