Cannon Exploration Inc. (fka CNEX)

[sphindog]

I understand everyones on the edge of there seats and been waiting for the report.And I agree they should of updated it all on the same day.But This is how Edwin works.

The release of this information without the geo results has apparantly rattled some...why I'm not sure. What are the potential scenarios?

1. CNEX is holding the report, and the readings are bad. If this were the case, they wouldn't be going back to the Queen. They would be dumping shares, and that dump would be obvious to all. Yesterday, sells were going off @ .0023, and whoever was on the bid never got filled. Someone was accumulating, and accumulating BIG TIME, and this would not be consistent with people knowing about something bad in the works. Also remember...the short volume was over 50% of the total share volume, so don't think they were all out and out sells. I do not believe this scenario exists.

2. CNEX is holding the report, and the readings are good. If this were the case, they would be continuing their work at the Queen, and would consider the cost of the IP testing a necessary expense in moving forward.

3. CNEX doesn't have the report yet. If this is the case, I don't see how anything has changed from yesterday...only the addition of a PR explaining that they are moving on in their plans at the Queen, which I view as a positive thing.

As I see it, there is no reason to be down about this recent PR. I am very excited about the boys going back in. Sure, it isn't the exact kind of PR we were hoping for, but they did say that the results from the report will be available on their website, so lets just be a little more patient and wait to see what's going on.

Personally, I believe scenario number two, and I also believe that CNEX needs serious help when it comes to releasing PR's! ;) Having said that, I expect good geo results to be posted soon.

I'm not going anywhere...


Here are those numbers from the FINRA site for yesterday's trading, the reading shows the date, company, total short volume, total volume:

20100805|CNEX|20099572|37438704|O


http://www.finra.org/Industry/Compliance/MarketTransparency/ADF/RegulationSHO/


Someone has a keen interest in keeping this price down! Hmmmm....