The SN report this week looks very interesting. It's apparent to me and perhaps others, that SN and Cerro have a tentative financing deal in place. Pure guess work but the timing of the Nami drills which SN were privy to before releasing their report seems suspicious to me? The SN report was tabled for the PDAC conference in Canada since the DFS mine study is not completed.
It seems the 30 cent price target is a deal maker or breaker for the Cerro mine? In North America the stock hardly trades since investors there are looking at the huge share float and reluctant to buy. So CJO might not want to float any more shares unnecessarily on a financing deal and consider bank financing. Problem with that is banks are holding on tight to cash and $120 mil for a mine is tough to raise.
Pure speculation on my part but watch for a deal with SN brokering the mine financing after the DFS is complete and Goldcorp folds.
CJO Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
