GREY:CXEYF - Post by User
Post by
Blindbat1on Feb 19, 2007 10:05am
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Post# 12262161
carr0001
carr0001I will be the first to agree that sadly - CAX's implementation on bringing their exploiration into production, has been to say the least dissapointing.
And to some degree an eye opener on the poor Management of the Drill versus barge requirement - that one in my book is serious MUD on their face , like freaken n00bs they handled that one.
Hopefully lesson learned, new Project Manager on board and history it is.
True undue delays and dead money for the foreseable futur - BUT - JUNIORS are JUNIORS and involve risk, uncertainty and patience.
In CAX's case we know the undervalue assets and production output is there - plenty of cash in piggy bank - hence minimal risk of new shares being issued to dilute existing ownership.
Bottom line, Mgmt spanking required in terms of operational performance - but still a valid play for those willing to be a little more patient.
3 months or 6 months at this stage is irrelevant in my view - as most will agree that we can expect a 30% bump on the first good production news.
Lucky me this end riding in break even territory and just waiting for the POP.
JMHO.....