RE:RE:financingPerhaps in most other sectors (Nasdaq, tech, etc). My other oil stocks have been doing wonderful this past week. Hell, even Frontera is up another 4% today.
CGX since the spike 2 weeks ago ($1.30 high) is down .40 cents. Unless we get JV/financing news, it sadly would not shock me to see this slowly bleed down to .80 or even .70. We are not seeing any big buying and the market clearly does not care anymore about the 'wonderful' potential Corentyne/Demerera offers. It truly is... put up (i.e., confirm the $ for the wells) mode now. Not that CGX management probably cares... hell, they are probably hoping for a drop so they can get rewarded with more heavily discounted options.