2 cents and house position for yesterday While I agree with Misfit1 and others, especially where it concerns going after those responsible for putting the company at risk for poor oversight of cost over runs, I do think that this is taking away from the huge potential that still lies beneath the Guyana-Suriname bassin and specifically at Jaguar and ED. Our share price has recovered very well since those sub 30 cents days post ES but I still believe those low share prices were an artificial creation. In the monthly institutional update, I noticed there had been about 12M shares sold by those institutions. RBC was the only seller with that much volume over that time and this supports my view that this push down was artificial and for the purpose of setting up a cheap PP. Selling 12M shares and turning around and then buying 85M shares is a great deal especially when you add 42.5M warrants at 60 cents. PRE has now filled up on cheap shares, next will be the BoD at the AGM.
However, the main focus has to remain on Jaguar. Here are some facts:
The 2008 report by Halvorston gave Jaguar a 20% chance of producing an economical discovery.
When Zeadyus hit, our share price gapped from 48 to 80 cents and traded over 13M shares. This Turonian target was hundreds of miles away from both Jaguar and ED.
Repsol is on the record as saying that Jaguar looks good.
AOI has proven that although there is a lack of risk capital, there is no lack of investment capital once a discovery is made. This to me is very important because investing in CGX is a calculated gamble. This to me confirms that if we hit, we will be handsomely rewarded and that we should be patient in taking profits in a positive case scenario for Jaguar.
I assume the share price will meander between 50-60 cents until the AGM. I still believe we will get a JV announcement before Jaguar is announced. ED from what I have read is not only a much bigger target than Jaguar, it also seems to have a better seal. I do not think that PRE want to drill this by themselves only. If that was their plan, we would not of seen the 50 for 33 right in the last NR so they want a JV to happen and so I think they are shopping ED as much as CGX is.
CIBC still accumulating yesterday but Scotia took top prize while TD was still the biggest seller:
| 85 Scotia |
214,541 |
126,208 |
0.588 |
15,000 |
8,850 |
0.59 |
199,541 |
-117,358 |
| 79 CIBC |
75,500 |
43,555 |
0.577 |
23,310 |
13,183 |
0.566 |
52,190 |
-30,372 |
| 99 Jitney |
54,500 |
31,880 |
0.585 |
37,000 |
21,045 |
0.569 |
17,500 |
-10,835 |
| 33 Canaccord |
29,515 |
16,878 |
0.572 |
17,000 |
10,000 |
0.588 |
12,515 |
-6,878 |
| 9 BMO Nesbitt |
12,000 |
6,960 |
0.58 |
0 |
|
12,000 |
-6,960 |
| 124 Questrade |
9,260 |
5,388 |
0.582 |
3,500 |
2,100 |
0.60 |
5,760 |
-3,288 |
| 101 Newedge |
4,000 |
2,280 |
0.57 |
0 |
|
4,000 |
-2,280 |
| 75 MGI |
3,000 |
1,740 |
0.58 |
0 |
|
3,000 |
-1,740 |
| 58 Qtrade |
1,700 |
969 |
0.57 |
0 |
|
1,700 |
-969 |
| 95 Wolverton |
2,110 |
1,207 |
0.572 |
1,816 |
1,047 |
0.577 |
294 |
-160 |
| 80 National Bank |
0 |
|
8,000 |
4,690 |
0.586 |
-8,000 |
4,690 |
| 121 Jennings |
0 |
|
20,000 |
11,200 |
0.56 |
-20,000 |
11,200 |
| 1 Anonymous |
117,500 |
68,295 |
0.581 |
140,500 |
82,155 |
0.585 |
-23,000 |
13,860 |
| 2 RBC |
17,100 |
9,918 |
0.58 |
115,000 |
66,300 |
0.577 |
-97,900 |
56,382 |
| 7 TD Sec |
44,200 |
25,041 |
0.567 |
203,800 |
119,749 |
0.588 |
-159,600 |
94,708 |
| TOTAL |
584,926 |
340,319 |
0.582 |
584,926 |
340,319 |
0.582 |
0 |
0 |
Glorieux