If You held a gun to my head to make a prediction...
I would guess we will continue to see cvy having better bid side support over the coming days as people become aware of today's announcement - I figure anyone who was even thinking of selling this stock was already a holder with a relatively short trading horizon so is most likely a screen watcher so saw today's news whereas any long term holders or new buyers will be made aware of the story in tonight or tomorrow mornings market summary reports from their brokers....particularly our overseas holders.
After that we will wash around until the next drilling release where the price will jump a few cents again, knowing that by this time a new jorc could be coming within a month or so.
In late Nov/ early Dec when he JORC is finally upgraded we will see a jump up to the 40's as this is one of the final boxes we need ticked before the final mining application goes in.
By this time we will have draw the attention of some more serious investors and in early 2012 we will start to hear the murmurs of a dual listing on the Canadian exchange therefore bringing any more sophisticated investors on board.
As the mining application goes in we will have now be close to 50c and the listing will occur giving the company more funds as our cash in bank will have been eroded by then. The company begins talks with bankers and advisors on options on how best to raise fund for mining proper once the mining licence is approved.
Mining application is approved at end of 2012 and the stock jumps up to 70 something cents......
During the 1st qtr of 2013 when we are just about to sign a loan arrangement with Macquarie to provide the financing for the processing plant the shares go into a trading halt and a takeover over at $1 a share is made by a major miner.
...which ultimately/reluctantly is accepted by management and shareholders
CVY Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
