and on solid volume, with plenty of support for the next leg up tomorrow sitting in the 12-13c range.
why has this almost tripled in price over the last few weeks?
well, you don't need a crystal ball to work out that CVY's twin Canadian gold projects - Cameron and Rainy River - are likely to deliver CVY a 5 to 10 million ounce resource base in one of the hottest emerging gold mining provinces in North America. And at a time when Nth Amercian fundies are loaded with cash, and looking to gold as the next big thing thanks to QE-forever.
And if the $5 million sale of the Smelter Royalty on the Cameron project alone is any guide, the big money players in Nth America already think (or know) that CVY's move from junior gold explorer to mid-tier gold producer status is a very good bet.
The SP re-rate here is just starting.
With only 240 million shares on issue if CVY does get the green light from backers to become a producer then asx/tsx peer comps will easily support a 50c+ SP.
CVY Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
