RE:RE:Bad updateIceDog13 wrote: I have been following the Kawa drill from a distance having exited when it jumped to the $1.70s. I really do not understand the market reaction to todays news. CGX is going to put the best spin on this they can but it was very negative in my opinion. Finding hydrocarbons was a given considering the location of the drill. It does not look like they hit a commercial discovery yet, they are way over budget and behind schedule with still about month left to drill to TD, and no money left so are looking for funding options. What did I miss to have the stock jump up 40%???
I have been rolling this through my head all day and it simply does not make any sense. The release was not positive in my opinion. The price should have fallen.... not risen. They are behind schedule and over budget!
The only scenario that I can think of that makes any sense at all is that there is a leak and they do have a commercial discovery. Somebody is buying up a lot of shares... and I just do not see a scenario that happens with that press release alone. Somebody is in the know, and buying not selling.