after market confirmation that Macquarie Bank have bought another 10 million shares and now hold 11.63% of CVY.
This is an eerily similar ann to that made earlier on today that tells us the gold guru Peter Palmedo's Sun Valley fund has also bought another 10 million CVY sahres for a lazy 12.65% of the company.
Is there some connection between the Mac Bank buying and Palmedo? Between them they are over 23% now, and either player can fund a move to producer status with ease. I wonder what they have in mind for the unloved at home CVY?
The SP charged to 11c intra-day high on big volume before steps were taken to cool it off before the close.
There were plenty of repeating odd number offers in evidence thanks to a broker bot programmed to limit the rise and keep this quiet until the team are fully loaded.
Fair value on any fair asx listed goldie peer comps on in ground gold value for the 2 million ounce + Cameron Project alone is well over 20c.
But what about that 132 Sq km next to the 8 million ounce Rainy River Resources project? That dirt is valueless according to Mr Market, even though it is part of the same zone, and just as big in acres, as the ultra hot RRR deposit and project that is valued at $500 million+ on the TSX.
Palmedo and Mac Bank seem to think otherwise, and voted with their cash again this week.
The CVY cat ain't staying in the CVY bag much longer.
Stellar, multi bagger buying IMO, but DYOR as always.
CVY Price at posting:
9.2¢ Sentiment: Buy Disclosure: Held
