RE:Copper FoxVultureIndex wrote: I've been watching this stock since 2009, Can someone let me know how this stock went from .14 cents to $2.70 and then back to .14 cents again? Not being a basher, but seriously, what happened? A simple story would be nice.
The share price ran up because several pumpers using multiple aliases were posting on numerous messageboards that CUU would be bought out for $10-$20/share. And that the Teck buyout would come at any moment. As CUU bagholder Foxyroller was quoted as saying in his post in Sept 2011: "
it isn't the daily share price that matters, it's the number of shares you own when Teck comes knocking on Elmer's door" and "
Is there any more of a sure thing out there right now in these volatile times? You are going to get paid off with CUU no matter what happense elsewhere". And other flat out lies such as the following:
https://www.stockhouse.com/companies/bullboard/v.cuu/copper-fox-metals-inc?postid=18436323 Schaft Creek was initially touted as a negative cash-cost project. Hopes were high for quick buyout from Teck. And then the BFS came out, and the numbers did not look good at all. The share price collapsed from that point and never gained ground again. Expectations were lowered but it was still expected that Teck would buyout CUU. Maybe not for $10-$20/share as some previously thought, but maybe $5-$6/share. That didn't happen, Teck instead took 75% working interest for peanuts, and CUU shareholders received a very small one-time dividend for their troubles. The share price continued its decline, year after year, as investors realized that because there is no timeline for Teck to make a decison on whether they are interested in moving forward with the project, it becomes a long and agonizing waiting game, susceptible to dilution and inflationary losses with each passing year. Compounded by the fact that Teck pulled the EA and has made it clear in its corporate presentations that Schaft Creek is low on the priority list of projects they have on the books. It's not really even on the books at all. Fact of the matter is, this project could still be many years away from Teck making a decision. They have costly irons in the fire elsewhere, that's going to consume a lot of their working capital. They've made it clear to their investors they are working on cleaning up their balance sheet.