RE: RE: Would love to know what CIBC knows SG, everyone that has a CIBC account that made buys or sells does show up on that list as you say. Maybe it means nothing to you and some others but I like to track that stuff and I have heard others thanking me for posting it so I will continue to do so.
However, if it was just random buyers like you say, why do we not have these random buyers with TD, RBC BMO etc while CIBC consistently is the top 1 or 2 biggest buyer?? For me when I see so much concentrated accumulation from one institution, I pay attention. Someone always knows something!
The reverse of that would be RBC holding down the price before the PP was announced. I posted about that and bought very heavy knowing that the price pressure would subside when RBC stopped selling. I was right then and I believe I am right now when I say positive things are coming and someone at CIBC has been tipped off about this. They are accumulating shares everyday. They have mostly sat back and bought without affecting the share price. On Friday, they were more aggressive and our SP went up. Maybe the news is around the corner and the window for cheap shares was closing or maybe they just wanted more shares before the weekend in case something is announced on Monday. The point is that they have been buying everyday since May 7th.
I am in the camp that believes we will not get any news about a hit at Jaguar till late July at the earliest. However, we could sign JV for ED at any time and that would bump our SP significantly. With Greece elections behind us and a positive outcome there for the eurozone, we will gain stability in the markets (for a short while anyways) and this may give us more risk on trading and may support a higher price. I still believe we have about a 50-50 shot at a positive result at Jaguar yet, the payout if they hit is 10-1, a very serious odds discrepancy that I believe the market will rectify to some degree. I believe we will be over the $1 mark before mid July because of this alone. Add a JV on ED and we could see over $2.50 real quick.
I posted on Thusday that we were putting in a higher low and now with Friday closing higher confirming the higher low, we should have some momo to challenge our intra day high of 66 in the next few weeks.
While I am having verbal diarrhea, I believe the odds that CGX loses it's off shore license to PRE is way overblown. I think PRE did the prudent thing in putting that in but for shareholders to vote against them getting their PP shares without having a 100% sure way of repaying the $30M is lunacy. Our licenses are not in jeoperday IMO and when the market realizes this, it will help the share price again because even with the higher float, our potential is still a 10X multibagger.
The other question is do we do a JV before Jaguar results. It could be we have no one that wants to put up the money before Jaguar results. If that is the case, then we are all praying for Jaguar as our share price will be below 20 cents in that scenario. However, if we have no JV in place for ED and Jaguar hits we will have an interesting situation. Our share float will already be around 472M fully diluted. Assuming we can raise cash at $4 a share which should be very possible if Jaguar is positive, then for an extra 25M shares or an extra 5% dilution, we could then be drilling ED with PRE for a 67% take of the 2.5 Billion barrels of oil prize! At 67%, that would give us 1,675B barrels of oil which at $4 per barrel would be $13.40 per share potential on top of the Jaguar value and the rest of the other license including possibly another Turonian target close to ED.
Low share price not withstanding, these are very exciting time for CGX Energy. I know many here are angry at the turn of events at ES and want to roast Sully and the BoD. To me, that is emotions at play. I do not argue that errors were made (and possibly worst) but the level of emotions displayed on this board about this situation can make one take their eyes off the real reason we are all here: To make money! Look at the chart, look at the facts that you know, look at the current MC, look at the potential, look at your personal risk tolerance and make decisions without the cloud of emotions. I know that rant does not apply to most here but reading the board lately has been tough between the spammers and the lynch mob lol!
Good luck to all of us!
G.