Should I be losing faith in Cassidy (CDY.V)?
Cassidy Gold (CDY.V) stock is way down. Now, I know that almost all the golds have taken a big hit, but there are a few other things making me wonder about my Cassidy stock. The newly-issued low-price shares and warrants are troubling. The "dilution dive" was already pretty serious two weeks ago when they were going to issue 1,900,000 new "units" (shares with warrants) at C$0.70/unit. Now they're issuing, instead, 3,175,000 new units at C$0.60/unit. That's worse. And warrants exercisable at C$0.70 and C$0.80? Sheesh --- that's where the stock price was about 3 weeks ago.
Some peculiar linkages emerge. Robert Ferguson of Cassidy seems to be the same Robert Ferguson who was listed as boss of Columbia River Resources (CRVV on Pink Sheets), which I've mentioned here as being a needless second layer of dilution under the newly floated African Gold Group (AGG.V). There's another, more obscure African company linkage that I recently noticed but have forgotten. And James Gillis, head of Cassidy, is also the president of Delta Exploration (DEV.V) which is supposed to do something in Mali. Delta is also linked to Cassidy via an interest in the Silver Lynx property, British Columbia, Canada. Gillis ran Getchell Gold Resources too, which fell from the Toronto Venture exchange down to the vestigial Canadian NEX exchange renamed as Discovery Corp. (DCY.H).
Finding gold is hard work. Mopping up available investor capital is a different kind of work.
Anyone, please remark on the Cassidy situation if you have any insights.
FL
