Post by
apapas1973 on Jul 27, 2022 7:29pm
If this continues, prepare for a hostile takeover
This has all been disappointing to say the least. There should be no fundamental reason for CNC being down here. Especially in an industry that's in its first inning. The problem with this persistent selling and depressed price is it will inevitably open up the door for a hostile takeover to come. We will be lucky to get a fraction of what we're thinking unless we go through a bidding war. For people thinking they'll buy more sub $1, you have to remember something. Compare the state of the company when it was last sub $1 and how much they've progressed to this point. Expanded properties, increased resource, raised financing, actively moving forward with permit process etc, etc. There should be zero reason and I mean zero, for this to be sub $1. We are not the same company today, that we were then. There are only 2 reasons for this to be down here. Either a fundamental problem with the business model (which I'm not suspecting), or purposely depressing the price for someone to accumulate and attempt a takeover from these levels. The thing is there's hardly any volume, so even accumulating would be difficult but they could still attempt the hostile takeover...I'll post some final targets in the following post. GLTA. We're going to need it.
Comment by
CravingProfits on Jul 27, 2022 7:46pm
Appapas...in my novice opinion, I also think being on the Venture is part of the problem. Venture equals gambling and the big investors dont like to go there. We need to upgrade to the Tsx with more stringent regulation and show we are growing and reputable. Glta
Comment by
apapas1973 on Jul 27, 2022 7:58pm
I'm afraid we're not going to the tsx any time soon Craving. We have the properties, we have the strong resource update and potential with future properties, we have 6 or 7 analysts which most juniors have none following them, however we don't have support for the stock price. Until the price stabilizes and reverses trend, we have no chance for the tsx.
Comment by
Rm90090 on Jul 27, 2022 8:08pm
This is where a strategic really helps. This company is netting all the objectives - it just needs to legitimacy that comes with a large well known company as an investor. Hopefully soon! Jmo
Comment by
apapas1973 on Jul 27, 2022 8:29pm
The longer this takes RM, the more they lose credibility. Mark should have never mentioned the strategic from back then. They could have just halted one morning and released the news if it happened.
Comment by
EndZonefor7 on Jul 27, 2022 8:59pm
Gnucky is buying heavy. No one spends so much time slagging a stock. Old SH tactic by the lowlifes. Everyone is paid... blah blah blah... low grade...blah blah blah.
Comment by
GnuckyT on Jul 27, 2022 8:23pm
LOL a hostile take over of a collection of cow pasture lands that were recently sold to this company for cheap... keep dreaming. Mayve we can sell it back to the original owners for 50 percent off to salvage some money for shareholders.
Comment by
EndZonefor7 on Jul 27, 2022 8:53pm
Apapas, I believe the intentional price depressing theory is more the reality. Have you noticed house 16 methodically hitting the bid all day, then Scotia does the same the next couple of days the past couple of weeks since we hit $1.85 ? Reeks of manipulation. Mark needs to shake up some of those 30 odd fund guys to step it up.
Comment by
PCGuy10 on Jul 27, 2022 8:59pm
Another thing Mark needs to do is make a filing with Sedi and do his usual purchase that he hasn't done in a while. The stock started dropping during the initial fesability study conference call and hit a bottom at $3.00 at the time. Then after the call was over, he made a market purchase of $75K and filed it immediatly! That could put sone wind in the sails!
Comment by
apapas1973 on Jul 27, 2022 9:08pm
I'll be honest with you pcguy, the lack of insider buys especially down here bothers me. I've had that one in the back of my mind for a little while now. Unless there are current backroom talks, there should be no reason for them not to be buying down here.
Comment by
EndZonefor7 on Jul 27, 2022 9:12pm
Apapas, Mark just said in the vid he's in talks with 2 groups so there is no way he or other insiders can buy now.
Comment by
apapas1973 on Jul 27, 2022 9:19pm
I guess it all depends on what he meant by "talks" Endzone. If talks just means promoting, then they should be able to buy. If it means working together then you'd be 100% correct. They couldn't purchase shares. Something has to give here.
Comment by
apapas1973 on Jul 27, 2022 9:02pm
Also Endzone if you notice there's an extremely positive divergence in some of the technicals happening now. It's a huge divergence. I've seen them before with CNC and they haven't amounted to much but this time it's very distinct. This tells us there's either room for us to drop a long way from here or people are not believing this drop. Time will tell I guess.