Just bought in today
I've been doing DD after owning New Millenium for a couple of months. Seems like a remarkable opportunity at this price. Iron ore is out of favour right now but once the world realized that China was just jawing the price of commodities lower without any real slowdown in growth iron ore and copper will be in favour once more. Also some impatient investors are bailing because the next drill session doesn't start until May. For me I look for value investments and the recent weakness in the face of strong news releases is a great value opportunity. By the way they have a great presentation for a small cap company. Lays out the strength of management and the resource potential really well. Anyone to lazy to google it here it is https://www.cap-ex.ca/s/presentations.asp
What really caught my eye was insider ownership and the price insiders paid for significant number of shares back in late Nov. 2011. Hey If they are willing to buy several hundred thousand shares at $1.10 and $1.15 I am happy buying now for $1.01 :)
Note: These aren't new buys but ones from November.
|
Nov 24/11
|
Nov 23/11 |
Bowering, Andrew William |
Direct Ownership |
Common Shares |
10 - Acquisition in the public market |
200,000 |
$1.15 |
| Nov 23/11 |
Nov 23/11 |
Matich, Brett Robert |
Direct Ownership |
Common Shares |
10 - Acquisition in the public market |
100,000 |
$1.10 |
| Nov 23/11 |
Nov 23/11 |
Harris, Graham |
Direct Ownership |
Common Shares |
10 - Acquisition in the public market |
150,000 |
$1.10 |
| Nov 24/11 |
Nov 22/11 |
Bowering, Andrew William |
Direct Ownership |
Common Shares |
10 - Acquisition in the public market |
115,000 |
$1.15 |
Very active board here - almost too active (can't read all these posts :))
Happy investing! Almost a sure winner here - just need patience.