RE:RE:Share priceEnd of day, Frontera is going to be purchasing ~45 million new shares in CGX (~$73M investment) at $1.63 share price. If I am a Frontera shareholder, and I see my management team making a significant investment in a company at a fixed price when the actual share price is ~40% lower on the open market, I would be very upset. Given that Frontera holds all the cards here, this share price crash should never have happened, at least not to the degree it did.
Then again, Catalyst Captial (who owns a large chunk of Frontera) likley shorted the heck of CGX at ~$1.90CAD and thus made themselves some very easy profits this morning when the share price tanked below $1 CAD for a brief period. They have insider information via Frontera and know exactly how fast the drilling is occuring and where the program is at. They made their shorting decision with 100% confidence they would make easy cash. Its a joke this kind of manipulation can occur and the regulators allow it to happen. At any rate, I would be shocked if they were not buying back their shorted shares this morning. Once they fully cover, the price should rebound and move back up to ~$1.5-1.6 in the coming weeks and hence allowing Catalyst to make even more easy cash. Talk about a easy flush down and easy ride back up for big gains... guess when you know the game and can do whatever you want, making profits is quite easy. Lord knows their actual investment in Frontera has been a big bust, so instead they resort to greasy market manipulation to make cash instead. No wonder normal retail investors are upset and fueled the meme market regarding stocks like AMC.