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Thanks for your reply. I will look at earlier posts today too, and see if I can find any CNEX 'twitter' information! Thanks!
That is interesting, Banker.
Have you seen any more 'twitters' about JVX being used for the IP survey, or, anything else relevant to CNEX today, by chance?
Thanks for letting me know what's going on today---more dilution! Have a great day! Go CNEX!!
You are most welcome! I am delighted you liked the article so much.
Thanks for your e-mail yesterday evening. I am glad you liked the article about the Amex Gold BUGS Index being on an upswing. Sorry for the delayed reply, I ran out of posts last nite! Go CNEX!!
What To Look For When Gold’s Day Comes… By Dr. Steve Sjuggerud
The Amex Gold BUGS Index (the “BUGS” part actually is an acronym for Basket of Unhedged Gold Stocks) is much younger than the XAU Index, having started in 1996. It is a better gauge for how gold shares are acting in relation to the price of gold. The two major stocks in this index are Newmont Mining (NEM) and Goldcorp (GG).
When you consider the fact that Newmont, the world’s #1 gold miner, only has a market value of $1.3 billion, you can see that the world of gold-mining is incredibly tiny. If you added up the value of every gold mining stock on the planet (roughly 2,000 companies), it would only come up to about half of what the tech stock Cisco trades for…
When gold’s day comes, an unhedged gold stock like Newmont could do extraordinarily well. Remember, the company is only valued at $1.3 billion. But get this: It has $419 million in cash! So the value of “the business” is closer to a tiny $880 million. This is a company with gold reserves of 87 million ounces – with a current value of nearly $30 billion dollars! Using Newmont as an example, the downside should be limited, due to its gold hoard in the ground. Yet the upside potential could be huge.
You can use the standard analysis tools to analyze gold companies, as long as you compliment it with some analysis of their gold… With gold companies, you must also consider the cost per ounce of production and the gold reserves themselves. Cash costs of production at Newmont, for example, are expected to be around $200 an ounce in 2003. So gold, at $335, is nicely profitable. Reserves, again, are 87 million ounces.
The websites of Newmont, Barrick and AngloGold spell out all the details in their “analyst” and “investor relations” sections, including their hedging activity, their reserves, their costs per ounce, etc. As you might guess, it’s www.newmont.com, www.barrick.com, and www.anglogold.com, respectively.
Before investing in gold stocks, start with these three websites to get your feet wet and gain an understanding of their businesses. Then, when the time is right – when we see a clear uptrend in the Amex Gold BUGS Index – you may want to consider investing in an unhedged gold producer, like Newmont, Goldcorp, Kinross or another member of the Gold BUGS index. *** Or CNEX (I added this last part).
By me, BSNB: I just looked, and there IS a clear uptrend from Feb. 2010 through Sept. 2010, in the Amex Gold BUGS Index! You can see this yourself by Googling Amex Gold BUGS Index photo.
Me too!! Go CNEX!!
Thank you! : )
Dow (mini) futures are up + 44, and S & P futures are up 5.00, as of 7:07 pm today.
Thus, we may have a good day in US markets tomorrow morning. And perhaps a good day for CNEX too. Although sometimes it (CNEX) is inversely correlated.
Such is the nature of posts sometimes! : )
You may not have seen my earlier post about an interview with Chen Lin, on gold mining stocks' predictions for the future, after a 30 year 'consolidation period'.
You may also not have seen my post from the SFMI board, by 'goldchaser', reprinted here on CNEX's board, about the heady gold mining stock years of 1975-1980.
Those were both good posts, to check out.
Thanks for the update!
That is interesting, that the proposed IP survey company was on CNEX's web site for about an hour, then removed. Very interesting...
A PR soon announcing their chosen IP company, and/or a PR after it is done, would both be very welcome news! I think they'll likely PR both before and after IMHO.
It sure looks like a really good survey company! Which will give more sound credibility to any findings they announce.
In 1998, JVX built its first borehole IP system to explore to depths of 3000 m. With the assistance of Ontario Government IRAP grants, JVX slowly developed the method through several test surveys. In 2003, JVX partnered with FNX Mining Company in Sudbury to refine the survey technique, receiving partial funding from OMET (the Ontario Mineral Exploration Technologies program).
The borehole IP system provided an ideal dataset for inversion of data. Created 3D models, of both conductivity and chargeability of volume around the boreholes, gave new insight into subsurface structures.
I see--Right! I hope Edwin stays with the company long term and can really develop it, or at least get it to a JV stage!
Thanks so much for the directions to the IBox!
So the recently debuted ones were EM surveys, but they mean the same thing---GOLD, shown in pink---as if they were IP surveys. That sure is a long time to be silent about a 2008 survey!
And you think after the new IP surveys are completed in ~2 months time, that they could get a great JV offer/buyout/or partnership, based on those IP results? You said it has happened before, with other companies, I believe.
Silly but necessary question---how do you get to the IBox from the main IHub page, please?
Thanks for your message. That would be neat if CNEX were to do a JV with JVX, the geological survey company (not a mining co.)
I guess the 'lots of pink map' they showed us was therefore NOT an IP survey done yet, but some other type of conductance survey or geo survey. *** Do you know what technique they used to get the bright pink conductance zones map?
I understand they'll be doing the official IP survey next, in a couple of months. I too, sure hope they now have raised enough money for the official IP survey about to be done, via the existing dilution already done!
What a lot of interesting activity on the board today, on a Sunday! Hope we have as much CNEX volume --- 700 million --- next week, as we had last week. PPS should start to increase slowly, as stock interest and overall visibility increases IMHO.
We certainly have come a long ways since 1904, the year my grandfather entered college at UNC! The history of gold and gold prices is a fascinating one.
We will get past the dilution stage finally, and they will find lots and lots of gold at the Queen, and then we will be very happy we invested in CNEX!! Give it five years. IMO.
Plus, the price of mining stocks in general may go ballistic, after a 30 year consolidation period (1980-2010) we've been in, and we could have a repeat of the 1975-1980 years I mentioned earlier, coming soon. It could happen! IMO.
Trapper---Thanks for the heads up about my post. You are going to be rich one day, with CNEX and the other stocks, and me too, and all of us here together!
Trapper-- How are you this fine, cool evening? What are your latest thoughts on CNEX? Do you own WOLV too, like me?
Sprattnikie---This article goes along with your recent post very well!
-BSNB
A case for Gold Mining Stocks, an interview with Chen Lin:
******************************************************************
Gold Mining have lagged the metal's price too long, says this successful investor...
A DOCTORAL CANDIDATE in aeronautical engineering at Princeton, Chen Lin found his personal investment strategies were so profitable, he put his PhD on the back burner, says the Gold Report.
Between Dec. 2002 and May 2010, Chen Lin turned his wife's Roth IRA retirement savings from $5,411 into $869,846 – without adding a dime in new funds. Today, after working in the internet and I.T. area, and employing a value-oriented approach plus exceptional technical analysis, Chen Lin writes the popular stock newsletter What Is Chen Buying? What Is Chen Selling? for Taylor Hard Money Advisors, Inc.
Here he tells The Gold Report why he thinks Gold Mining stocks are set to follow the metal's price sharply higher very soon...
The Gold Report: In 2002, you turned a little more than $5,000 into a portfolio worth close to $1 million in 2010. I am sure many people ask how you did that. Do you think you could repeat that success again in the current market conditions?
Chen Lin: It's one of the many accounts I am managing; in general, the accounts I manage have had similar performances; some more, some less. The results of my wife's IRA are published on miningstocks.com. There you can see it's pretty much consistent – about 100% a year average in the past seven or eight years. There are down years, like 2008; I was down by 5%; but in 2009, I was up 500%, so it was a very big year. The average is still at about 100%, maybe a little more.
TGR: You were down only 5% in 2008? That's pretty good for that year.
Chen Lin: Yeah, you can see the exact figure on the site. I lost about $50 of every $1,000 invested.
TGR: Do you think you could do it again in the current market?
Chen Lin: There's always a bull market somewhere; I am hoping this can continue.
TGR: What would it take to do that? How would you go about it?
Chen Lin: I don't focus on only one stock; I buy stocks in the sector that I really like. I compare all the sectors, their fundamentals and the stock valuations and the company's earning power, then I decide where to put my money.
TGR: And what did you decide?
Chen Lin: There was a period when I was in energy a lot and another when I was in base metals. Earlier this year, I was in energy and paper pulp. Those were actually a pretty big success. Right now, we have the Greece problem spreading all over Europe; and because of that gold will do very well.
In May, I started to advocate that people take money off the table. In early May, I was very rapidly selling. And then, when we had cash, I started buying gold stocks; I started recommending those in late May and in June.
Why was that? Because there was a very big market correction, and a lot of people were scared. People seemed to think there would be a repeat of 2008. However, I believe gold has much stronger fundamentals. And then people were selling in May and going away, just like many people on CNBC were saying. That created a very good opportunity to buy gold stocks in late May and June. When they finished selling, we went in and bought cheap stocks.
TGR: Another thing you mention in your newsletter is that after the Great Depression, gold stocks started their climb after the second market correction.
Chen Lin: Exactly, yes. That's another thing that really makes me feel confident gold stocks will likely soon take off.
TGR: When do you see that second correction happening?
Chen Lin: Oh, the second correction has already happened in the general stock market. You can see that the market's been very, very volatile since the Greece crisis, and spreading to the PIIGS (Portugal, Italy, Ireland, Greece, Spain). I believe the second correction is starting and, in the Great Depression, the major gold stocks took off just after the second phase. I hope that will repeat, maybe even be better; because before the Great Depression, we had gold-backed currency. This time, they're fiat currencies – paper currencies. And once people start to lose faith in paper currencies, gold actually is the only place for them to go. And during the Great Depression, gold had a fixed price; this time, the Gold Price can go much higher.
TGR: Your portfolio is heavily weighted in precious metals; what are some other sectors you like?
Chen Lin: One particular sector I really l like is pulp and paper. It's a unique sector with not a lot of people paying much attention. But there's a couple of trends that are very favorable for pulp; since the crisis in 2008, all the new pulp and paper projects were cancelled or delayed indefinitely, so there's no new pulp projects coming until 2012. In the meantime, the largest pulp and paper consumer is China. It's growing about 10% a year. You can see it's a surprising amount. Without much supply coming into place, the pulp producers can make a lot of money in the next three years.
TGR: Alright, your portfolio has gone up something like 16,000% since 2002. You've identified precious metals as a sector that you want to be in. You see the second market correction as happening now, much like what happened in the 1930s after the big crash in 1929. But anyone can invest in gold stocks and not have your kind of success. What do you looking for in companies that makes you trigger on those stocks?
Chen Lin: Actually, you raise a very good point. Individual gold stocks didn't go as high as gold. The gold stocks are lagging gold, which is a very interesting phenomenon. You know, we've traded commodities for a pretty long time, and usually commodity stocks go up exponentially to the commodity price, because each time the commodity price goes up, the profit margin just goes up exponentially.
For example, Gold Mining producers' average cost right now is probably around $500. Back a few years ago, in 2007 the Gold Price was $600; you make a little bit of money. Then in 2008 you have $800, and you make a little bit more. Now it's at $1200 an ounce. Every Gold Mining producer is making an incredible amount of money, and the market doesn't appreciate that much. That's a very interesting phenomenon.
One thing will happen – either gold has to come down significantly or gold shares will go up significantly. I believe it's the latter; so, we could have a phenomenal gold run. I don't know when, but it could happen this year; it could happen next year. People will look at it and say, "Wow, that's a great run on Gold Mining stocks." It hasn't happened yet; we have actually seen gold stocks come down from the beginning of the year. As I was telling my subscribers, "Okay, just buy these bargains, buy these gold stocks." Traditionally, gold stocks are weak in June, July and August. In these three months, I want to load up as much as I can on gold stocks and I'm looking for a breakout after.
TGR: But are you looking at cash flow, earnings per share, ounces in the ground, management, jurisdiction, metallurgy – what are you looking at?
Chen Lin: That's a very good question; it's changing from time to time. Of course, jurisdiction is always very important because if someone comes to confiscate your mine, you're finished. Right now, we are in a bear market; cash is king, so I want to look at cash flow more heavily. If you have a significant cash flow – especially free cash flow – after all capital expenditures are paid, that's real money. That is very important to a company.
However, if market conditions improve and we have a blowout gold market, then you may want to look at how many ounces are in the ground – those will weigh more and more heavily (in an investment decision). But right now, we're in a defensive mode; so we're putting more weight on cash flow.
TGR: Another advantage you have over other newsletter writers is that you know people on the ground in China. We're told all kinds of things about China here, some of which are true, some are partially true. What's really going on there?
Chen Lin: The Chinese government has tried to put on the brakes, to slow down the red-hot economy. At some point this year, they're going to let their foot off the brake; they don't want the economy to really go down. They just want to slow it down. They're trying to crack down on the real estate speculation; the housing prices are coming down, which is a good thing. They probably want it to correct 20-30%. It's creating some interesting opportunities for traders.
TGR: You said it was creating some interesting investment opportunities. What are some of those?
Chen Lin: Well, Wall Street and CNBC always exaggerate – they see a small correction, and they say it's a crisis. Part of it is the news media always wanting to catch your ear. But if you know what really goes on, you can buy when everybody thinks something is finished. Then you sell when sales start turning up, and then everybody in the news media says, "Oh, the correction is over!," and you can take profits. So, that's how we create a lot of trading opportunities.
TGR: You go against the popular sentiment? Is that what you do?
Chen Lin: It's not exactly against; I go with my own sentiments. When I see it is overvalued, I sell and, when I see it as undervalued, I start to buy. The more undervalued, more I buy. But sometimes when it goes down, you don't know where the bottom is.
TGR: What are some companies that are benefiting from the current economic conditions in China?
Chen Lin: Pulp and paper stocks will benefit. And the energy stocks – I owned some, and I want more focus on land-based drilling after the BP disaster. Actually, I sold all of my ocean drillers when news of the BP disaster first came out. When they first said the oil leak was 1,000 barrels, I started selling everything because I know it is impossible to leak only 1,000 barrels per day (bpd) in that gusher. I'm a pretty cautious person and, when I see that something goes wrong, I try to get out as soon as I can. That's my own money.
TGR: Any thoughts before you leave us today?
Chen Lin: We could have an incredible run for Gold Mining stocks; it will happen at some point. It could be this year or it could be next year, but I see it coming.
A case for Gold Mining Stocks, an interview with Chen Lin:
******************************************************************
Gold Mining have lagged the metal's price too long, says this successful investor...
A DOCTORAL CANDIDATE in aeronautical engineering at Princeton, Chen Lin found his personal investment strategies were so profitable, he put his PhD on the back burner, says the Gold Report.
Between Dec. 2002 and May 2010, Chen Lin turned his wife's Roth IRA retirement savings from $5,411 into $869,846 – without adding a dime in new funds. Today, after working in the internet and I.T. area, and employing a value-oriented approach plus exceptional technical analysis, Chen Lin writes the popular stock newsletter What Is Chen Buying? What Is Chen Selling? for Taylor Hard Money Advisors, Inc.
Here he tells The Gold Report why he thinks Gold Mining stocks are set to follow the metal's price sharply higher very soon...
The Gold Report: In 2002, you turned a little more than $5,000 into a portfolio worth close to $1 million in 2010. I am sure many people ask how you did that. Do you think you could repeat that success again in the current market conditions?
Chen Lin: It's one of the many accounts I am managing; in general, the accounts I manage have had similar performances; some more, some less. The results of my wife's IRA are published on miningstocks.com. There you can see it's pretty much consistent – about 100% a year average in the past seven or eight years. There are down years, like 2008; I was down by 5%; but in 2009, I was up 500%, so it was a very big year. The average is still at about 100%, maybe a little more.
TGR: You were down only 5% in 2008? That's pretty good for that year.
Chen Lin: Yeah, you can see the exact figure on the site. I lost about $50 of every $1,000 invested.
TGR: Do you think you could do it again in the current market?
Chen Lin: There's always a bull market somewhere; I am hoping this can continue.
TGR: What would it take to do that? How would you go about it?
Chen Lin: I don't focus on only one stock; I buy stocks in the sector that I really like. I compare all the sectors, their fundamentals and the stock valuations and the company's earning power, then I decide where to put my money.
TGR: And what did you decide?
Chen Lin: There was a period when I was in energy a lot and another when I was in base metals. Earlier this year, I was in energy and paper pulp. Those were actually a pretty big success. Right now, we have the Greece problem spreading all over Europe; and because of that gold will do very well.
In May, I started to advocate that people take money off the table. In early May, I was very rapidly selling. And then, when we had cash, I started buying gold stocks; I started recommending those in late May and in June.
Why was that? Because there was a very big market correction, and a lot of people were scared. People seemed to think there would be a repeat of 2008. However, I believe gold has much stronger fundamentals. And then people were selling in May and going away, just like many people on CNBC were saying. That created a very good opportunity to buy gold stocks in late May and June. When they finished selling, we went in and bought cheap stocks.
TGR: Another thing you mention in your newsletter is that after the Great Depression, gold stocks started their climb after the second market correction.
Chen Lin: Exactly, yes. That's another thing that really makes me feel confident gold stocks will likely soon take off.
TGR: When do you see that second correction happening?
Chen Lin: Oh, the second correction has already happened in the general stock market. You can see that the market's been very, very volatile since the Greece crisis, and spreading to the PIIGS (Portugal, Italy, Ireland, Greece, Spain). I believe the second correction is starting and, in the Great Depression, the major gold stocks took off just after the second phase. I hope that will repeat, maybe even be better; because before the Great Depression, we had gold-backed currency. This time, they're fiat currencies – paper currencies. And once people start to lose faith in paper currencies, gold actually is the only place for them to go. And during the Great Depression, gold had a fixed price; this time, the Gold Price can go much higher.
TGR: Your portfolio is heavily weighted in precious metals; what are some other sectors you like?
Chen Lin: One particular sector I really l like is pulp and paper. It's a unique sector with not a lot of people paying much attention. But there's a couple of trends that are very favorable for pulp; since the crisis in 2008, all the new pulp and paper projects were cancelled or delayed indefinitely, so there's no new pulp projects coming until 2012. In the meantime, the largest pulp and paper consumer is China. It's growing about 10% a year. You can see it's a surprising amount. Without much supply coming into place, the pulp producers can make a lot of money in the next three years.
TGR: Alright, your portfolio has gone up something like 16,000% since 2002. You've identified precious metals as a sector that you want to be in. You see the second market correction as happening now, much like what happened in the 1930s after the big crash in 1929. But anyone can invest in gold stocks and not have your kind of success. What do you looking for in companies that makes you trigger on those stocks?
Chen Lin: Actually, you raise a very good point. Individual gold stocks didn't go as high as gold. The gold stocks are lagging gold, which is a very interesting phenomenon. You know, we've traded commodities for a pretty long time, and usually commodity stocks go up exponentially to the commodity price, because each time the commodity price goes up, the profit margin just goes up exponentially.
For example, Gold Mining producers' average cost right now is probably around $500. Back a few years ago, in 2007 the Gold Price was $600; you make a little bit of money. Then in 2008 you have $800, and you make a little bit more. Now it's at $1200 an ounce. Every Gold Mining producer is making an incredible amount of money, and the market doesn't appreciate that much. That's a very interesting phenomenon.
One thing will happen – either gold has to come down significantly or gold shares will go up significantly. I believe it's the latter; so, we could have a phenomenal gold run. I don't know when, but it could happen this year; it could happen next year. People will look at it and say, "Wow, that's a great run on Gold Mining stocks." It hasn't happened yet; we have actually seen gold stocks come down from the beginning of the year. As I was telling my subscribers, "Okay, just buy these bargains, buy these gold stocks." Traditionally, gold stocks are weak in June, July and August. In these three months, I want to load up as much as I can on gold stocks and I'm looking for a breakout after.
TGR: But are you looking at cash flow, earnings per share, ounces in the ground, management, jurisdiction, metallurgy – what are you looking at?
Chen Lin: That's a very good question; it's changing from time to time. Of course, jurisdiction is always very important because if someone comes to confiscate your mine, you're finished. Right now, we are in a bear market; cash is king, so I want to look at cash flow more heavily. If you have a significant cash flow – especially free cash flow – after all capital expenditures are paid, that's real money. That is very important to a company.
However, if market conditions improve and we have a blowout gold market, then you may want to look at how many ounces are in the ground – those will weigh more and more heavily (in an investment decision). But right now, we're in a defensive mode; so we're putting more weight on cash flow.
TGR: Another advantage you have over other newsletter writers is that you know people on the ground in China. We're told all kinds of things about China here, some of which are true, some are partially true. What's really going on there?
Chen Lin: The Chinese government has tried to put on the brakes, to slow down the red-hot economy. At some point this year, they're going to let their foot off the brake; they don't want the economy to really go down. They just want to slow it down. They're trying to crack down on the real estate speculation; the housing prices are coming down, which is a good thing. They probably want it to correct 20-30%. It's creating some interesting opportunities for traders.
TGR: You said it was creating some interesting investment opportunities. What are some of those?
Chen Lin: Well, Wall Street and CNBC always exaggerate – they see a small correction, and they say it's a crisis. Part of it is the news media always wanting to catch your ear. But if you know what really goes on, you can buy when everybody thinks something is finished. Then you sell when sales start turning up, and then everybody in the news media says, "Oh, the correction is over!," and you can take profits. So, that's how we create a lot of trading opportunities.
TGR: You go against the popular sentiment? Is that what you do?
Chen Lin: It's not exactly against; I go with my own sentiments. When I see it is overvalued, I sell and, when I see it as undervalued, I start to buy. The more undervalued, more I buy. But sometimes when it goes down, you don't know where the bottom is.
TGR: What are some companies that are benefiting from the current economic conditions in China?
Chen Lin: Pulp and paper stocks will benefit. And the energy stocks – I owned some, and I want more focus on land-based drilling after the BP disaster. Actually, I sold all of my ocean drillers when news of the BP disaster first came out. When they first said the oil leak was 1,000 barrels, I started selling everything because I know it is impossible to leak only 1,000 barrels per day (bpd) in that gusher. I'm a pretty cautious person and, when I see that something goes wrong, I try to get out as soon as I can. That's my own money.
TGR: Any thoughts before you leave us today?
Chen Lin: We could have an incredible run for Gold Mining stocks; it will happen at some point. It could be this year or it could be next year, but I see it coming.
I am certainly willing to wait and be patient, to see the quantity and quality of GOLD that they actually have. I think we will all be rewarded a lot. This is a long term hold for me. I just incresed my position a bit yesterday. Thanks for all your DD!!
ursa---
Thanks for your great post about talking wth Karen, the next IP survey coming up and a PR about that, the cost of mining for a small junior company, That this is a long term hold as a penny stock, etc... Thank you!!
I just sent a message to Karen too, along with everyone else, asking her to please tell us what all the recent dilution/ increase in share numbers is going to be used for (funding what exactly), if she can tell us that.
Beerocracy--
Thanks for your reply, and an engineer's great perspective. I agree with you, Edwin has a long term vision for the mine and CNEX, and it has only been a few months. Plus, he KNOWS the potential here, with all of the gold in the ground.
I don't really think he's an idiot, I think he is probably quite adept as you suggested, but I was responding to someone else's post who said he was one. I hope that clarifies my statement earlier.
Yes, time will tell! It is too bad time takes so long! Gold or other PR before end of Oct. IMO.
Yes, we are sitting on LOTS and LOTS of gold! Go CNEX!
Our CEO may be an idiot, but he may also have had a reason for so much dilution (co-funding something like a JV, or $$ for additional claims), a reason we will only find out in due course.
Trapper---
leiyu467, in post number #34187 today, mentions the article this morning, but I don't think CNEX was involved in anything wrong.
Trapper--
Thanks for your couple of messages last night, about CNEX. I heard a mention of what you were saying, on the board this morning too. I don't think it will affect CNEX that much IMO. Price is down a bit, but not sure exactly why. Did you decide to stay in? Good luck wth your decisions!
Trapper---
Thanks for your message. I am glad my message had a good effect. I agree, the large dilution probably means no JV is in play at this time. That doesn't mean we'll never have a JV play, however. I see your point about possible sell off tomorrow, due to dilution, but we will see. Thanks for the tip about selling a little higher and buying back in when the pps drops, to gain more shares. Good luck getting more CNEX shares yourself, tomorrow. I actually sold 3,000 shares (20%) of WOLV today, and that allowed me to buy some more shares of CNEX. I now have 769,480 shares, I am happy to say. You are right, the bottom line is there is still a ton of gold up there! I hope a R/S is not coming, but we will survive, even if it does arrive. Thanks for your great CNEX message!
'200 mill -- 1 bill' sounds good to me! Go CNEX!
The great--- Hi! How are you? I am a recent joiner of the CNEX board and I love it here. High volume tomorrow too, despite large dilution IMO. Word is getting around about CNEX!
Thanks for the CNEX volume alert, and great watch list/alert for CNEX. It certainly was amazing 503 MM volume today! Perhaps we can repeat tomorrow IMO.
This message is to cheer you up. How was cheerleading attending?
We can possibly assume the best for now (until proven wrong), that the large dilution is to pay for the needed, expensive, geophysical surveys and assays for CNEX, to uncover the full extent and dimensions of all that PINK on the map.
That is good to know how you found Cannon, that you did well with Edwin's previous company. Thanks for that information. Good luck to all CNEXers!