Is CHD about to move higher?It must be about time for CHD to announce an exploration program aimed at expanding the resource potential of Marcona. Atleast that was the plan that produced modest interest to raise the $27 million
not to mention the extra $2 million from the overallotment. Alot of
share volume without any price movement though. The warrants might tell the tale as at 6.5 cents and a 35 cent strike price albeit with 2 years to get there leaves me a bit puzzled on the trading. Anyway the CHD should get on with it and reclaim the 15 cents of value that existed before they won Marcona for starters.
Maybe the play is to prove up some more reserves and sell the
company. Apparently Marcona brought alot of buyers to the party and with Rio taking down 18% or so of the financing they may see an exit
that way with a bit of leverage to boot.
Purely idle speculation on my part. Anyone with thoughts on where we are headed and when?
Coyote13