Why I bought 200,000 shares of CMK on Friday I made the deicision to buy into CMK after doing extensive research of all coal companies in TSX that I can bet. Most other juniors in TSX are still exploring and those that in developmental stage needs more than $500 million in CAPEX to start construction.
On the other hand, CMK has more than 600 million tons of resources, purchased equipment and secured all necessary permits. Just the right price and sale contract is the issue with CMK. The debt load is also minimal when compared to other coal companies.
I also like the huge volume the stock trades indicating huge interest among institution investors.
I may be wrong but I feel at this price, the risk is reduced.