Letter writer A certain letter writer recommended selling a couple of weeks back, but he said there was no hurry to do so as their would be plenty of news coming. This sell off may be more of that - selling on the news.
The certain letter writer was not pessimistic on the company, but said he could not quite see the clarity on it as he once did, meaning, he was taking an educated guess like the rest of us as to what the future might bring. The fact that he recommended it initially shows opportunity, especially at these lower prices.
The certain letter writer no doubt brought many fans when he first recommended CAN, and so now he will take some away.
But the project itself is what it is and seems like a good long term bet. These are unusually good drill results.
I think all the juniors are suffering from world economic worries and the uncertainty as to the direction of gold. I believe gold is consolidating and will reassert itself past 1900 (a small 15% rise). When that happens, many juniors will benefit handsomely including CAN.