RE: Why no bump in price?I tend to agree with 'crockrocks' and was wondering before the report the ripple affect CLC might have.
Regardless the big differences between the two companies, this report came out on the heels of some bad news from a junior lithium player who had to renounce their original estimate, which I understand was not independently commissioned (unlike Rodinia). I am sure this spooked the lithium crowd a little, and they are not going to jump on the news without more due diligence regarding this report, and will probably exercise similar caution with other lithium players as well. It is unfortunate, and time is required to heal the wounds. Still, the report bodes very well in the long run, so for those who weren't just looking for a quick flip, hang in.
"lowlights'" from yesterdays Globe and Mail:
Canada Lithium Corp. fell 33 per cent Tuesday after the company revealed its resource estimates may not be as bountiful as first expected. ... Canada Lithium’s stock was halted late Monday. During the pause, the company announced it had hired a firm to conduct an independent review of its resources levels. An internal review determined there was a “material reduction” in the amounts expressed in the 43-101 resource estimate it filed last year. .....Canada Lithium was unable to reconcile the results of the internal review, which incorporated various resource estimation methodologies, with the reported 43-101 resources announced in October 2010.