GREY:CLGRF - Post by User
Post by
Bottleson Aug 06, 2013 8:02am
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Post# 21651128
Checking in....
Checking in....Having not posted for awhile, I must proclaim that SH's new format totally sucks. That said, so does everything gold related!
I have been accumulating shares of CGR/CRJ in recent weeks (albeit cautiously) along with some other gold related equities. All I can say here is "no risk, no reward". Honestly, there is no compelling reason to buy any gold stock at present. Hence, that is why I'm buying. Albeit a hunch, when the time comes to buy gold stocks, EVERYONE will be lining up to buy gold stocks. Whether it be weeks, months or a year+, the sector will one day turn positive. As for CRJ/CGR, the 2008 low is $0.17. Thus far, the stock has held up above this price and got as low as $0.19. Like many, I can see a dip to the $0.15 area (maybe worse given market conditions). If so, I'm in line to buy additional shares.
To close, will look over earnings and listen in on the CC but I'm not expecting much. Hopefully, there will be some comments about Santoy Gap and production plans there. At present, this ore should be truckable come the 2014 season. Even so, deisel prices are a concern as those prices look to be significantly higher come the resupply season for 2014. With the shaft now completed, I would hazard a guess that the Company will utilize more ore from Seabee Deep and L62 and less ore from Santoy 8 due to both grades and costs to produce (ie: Santoy 8 ore must be trucked to the mill and hosts lower grades).