GREY:CATXF - Post by User
Comment by
mudguyon Oct 09, 2013 3:17am
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Post# 21801838
RE:RE:RE:RE:RE:RE:RE:I'm no expert
RE:RE:RE:RE:RE:RE:RE:I'm no expertI'm pretty happy with this. I have about 20% of my shares now purchased below 2c and I can see the upside here.
There is still risk of consolidation, but this may not be as bad as it seems in the long run. They will have to issue about 75M shares for Teck, so that brings it to over 300M total. Knocking that down with a 20:1 is probably a good idea if they are moving forward rather than just selling the company. Given the recent funding deal that Greenslade made at 5c, maybe he has reason to think that there is near term upside to be realised.
I would not be surprised if, after this deal closes, we see a partner emerge to take it to BFS soon after. CCY could exchange 40% (or something like that) of the deposit for cash to fund the BFS and get a partner with Mexican experience. The list of potential mining partners is quite long and Guistra has some key connections in the country, as does Greenslade.
Buying in at these levels is looking pretty attractive.