PatienceI will continue to hold my stock and try to ignore fluctuations in investor confidence and stock price as long as CBR continues to follow their business building approach to this conmpany. Although the prospects in the North are tantalizing, it is most important that the Australian projects succeed and are brought to production ASAP.
By generating cash flow from Australia and using that to further prove reserves in the North, the share value of this company will continue to appreciate, perhaps spectacularly. This business building approach takes time.
The last stock I held that took this approach was Centurion Energy
(CUX) which I accumulated at .40 - .70, starting in 1998. The SP did nothing for 3 years and then began making leaps in price as new discoveries were made and production was brought online. I sold out at 9.00, even though it went as high as 18.00. Finally it was taken out last year at 12.00.
My point is that as long as the business plan unfolds as expected and the company self finances as much as possible, the SP will eventually reflect this.
Pay no attention to Day traders as they are losers...(quick .. how many long term investors are amongst the world's richest? how many day traders are there waiting in line at the pawn shops?)
Stick with this company as long as the business plan stays on track.
Cheers