Selling is beginning to heat up. It's funny that when you can smell it coming there's going to be a sell off. So perhaps the rumours of the BFS getting sent back are true after all. With so much brain power unleashed on it how could they possibly get it wrong. The Moose worked on the mine plan as the uber overseer and the company did tell us it was done way back in Sept. on the 25th. From there 1.5 months have passed and the early date, if you want to call it that (today), is passing. So they spend all this time on reviews and the economics portion and there's no end in sight.
Some people think this is because Elmer is out of office. So he knows there's plenty of time to go to Az while something else is done with the BFS. Did Teck take a holiday and the two sides agreed to meet when Elmer got back? That would give Teck a couple of days to look it over. Then, say, on Friday they meet and have a quick discussion. They could write the NR over the weekend or if it's already done they could halt Friday.
Some people, today, still insist the BFS is not coming. The idea behind this argument is that Elmer sees that it will take a lot more time so he might as well go to Az. He's obviously not concerned that he'll be needed currently. If there was any rush or urgency he would not have gone. Some of the ideas here: http://goldcoppertungsten.blogspot.ca/2012/11/copper-fox-cuuv-update.html are cited as being correct.
I'm thinking the day is not over yet but the sp is currently sinking. Perhaps the market is right and selling is in order. Perhaps it's people who've been so screwed by these chronic delays that they are forced to sell and were only holding on out of desperation. If the volume shoots up and the sp drops we'll have our answer.
I've been expecting a drop just prior to the NR but I was expecting a much higher volume. Since the volume is not materializing the battle has not started.
So now comes the question of how to exploit this? Looking at who's trading shows an attempt by small share holders moving in and out. We're talking 5k trades. Not much to see there folks. I think if it wasn't for that the volume would be near zero. This suggests no news is pending. Without real volume there's not much that can be done besides selling. There's very little up for grabs that doesn't come at a premium and so far no takers for those. So HOLD.
On the bright side did you notice BHR and HPY? Nice.
they are meeting thursday in van and its being prepped to be released early next week.
ReplyDeleteI've heard they are working on a few things that bode well for the sp. I expected this might happen but given the accuracy of prior information I would like an explanation of what these things are.
DeleteSo webs, what does this all mean? Should we sell now and buy back at lower cost?
ReplyDeleteSupport is there. In fact, today's meeting here garnered more support. We should see some people tasting the stock in the morning. I'm not expecting a big rush just some feeling out. If shares are available there will be more buying. Given the lack of sellers the hold message has gotten out there.
DeleteLucky I sold off yesterday. Expect to buy back today sub-$1, heheh
DeleteGood almost afternoon,
ReplyDeletejust a question for you. Looks like a block just became available at 1.05. I'm wondering, because my broker transfer hasn't come through yet (grrrr...it's been sold in one but not shown up in the other) if you think the BFS will be a separate NR and maybe the SP will dip a bit on the news before going up (ie, maybe I still have a few days time on this) or do you think the BFS and the buyout will come simultaneously? Of course I know it would be your opinion, just wondering what you think.
Thanks, alpha
It's possible that this could be part of the reason for not making the material info public asap. I'm a bit skeptical though. We have given them all the data and an abundance of time to take us out early. It didn't happen. There's probably plenty of time.
ReplyDeleteMany thanks! On the one hand I hate to see the share price take a beating but I understand if it does and hope I can cash in on that opportunity...as long as the liquidity event happens fairly soon after. I am hoping for that Nov 22nd date (discussed on Agora forum) for the NR and for the payoff early in January, for obvious reasons. I think at this point most people are of the same mind. The announcement of the Teck dividend increase in January makes me think they have us in mind for some shares and are sweetening the pot for Teck and CUU shareholders.
ReplyDeleteWe are going to find out pretty soon if there is a BFS or not. I think 10 days is the maximum they can hold off on material info. That does put them roughly on the Nov 22 timeline. See my next blog (today's)
ReplyDelete