$1.29 CADThat was the price CGX plummeted too for a brief moment on the morning of the March 3 (after the poorly worded 4Q news release). It would not shock me, in the absence of news in the coming weeks, that CGX bleed down to this level.
As a comparable, the morning of Oct 20 (around the time of the whole Tralisa fiasco), CGX plummeted to .98 cents CAD.... after a short rebound into November, CGX bleed down again to a low of .96 cents CAD on Dec 13... I remember folks were furious, and the next day CGX plummeted again another couple percentage points to .88 cents. Lone behold, CGX the next day (Dec 15) released a statement saying hydrocarbons were encountered.
Anyway, who knows what the next couple weeks will hold, but it would not suprise me if CGX did plummeted down another .15-25 cents in the coming weeks if no news is released... sadly enough. History suggests that it is entirely possible with CGX. For what it is worth, if CGX does go this low and any positive news is released, I will have dry powder ready to take advanatge of the upswing. But for the time being, I will not put one extra penny into this stock as long as it continues to bleed down.