What todays volume tells me… That despite "good news", 99.99% of retail is not buying. As such, the internal money managers are more than happy to keep the price low and accumulating on their end.
Perhaps more importantly, until meaningful news regarding a JV/buyout actually occurs, CGX will never surpass the ~.40 cad mark ever again. The amount of positive news surrounding northern Corentyne has been phenomenal since last November. Market don't care for CGX, as it's clear this company is broke as a joke and it's useless JV partner FEC is no bloody better. Without a massive infusion of new cash, Corentyne is a stranded asset.
End of day, if one thinks HL can pull off the miracle (ie, that degenerate POS De Alba does not screw it up for them), then buying at these levels is a tremendous win. Given the history of FEC and CGX to do the right thing, however, has been incredibly disappointing to watch and I don't blame people for not wanting to cost average down.
I hope and pray this nightmare concludes by the end of summer. If not, I hope that gutless pig Suresh does hold a AGM and gets absolutely blasted by dissatisfied shareholders.