Post by
AllDutch1234567 on Jan 30, 2021 6:20am
Mike Kachanovsky thinks we'll make a run for new 52wk highs
I was speaking with Chris Grove today and he pointed out that some of the other REE stocks are up even more than CCE but I would argue that CCE is probably the best of that bunch. Whatever the case, a rising tide is lifting all boats and sooner or later I think some of the advantages related to Ashram will move CCE to a premium valuation. One point that Chris made was he is getting hundreds of thousands of warrants exercised recently, and that may account for why CCE pulled back a bit off the highs. This is like a bonus PP that injects money directly into the treasury. I have some of these warrants from last year and the year before that are still open and may be tempted to convert a few myself. I still think CCE is going to consolidate and then make a run for new 52wk highs well above 50 cents in the weeks ahead. There is no rush to convert warrants now, when they are good for several years and who knows how much steam this move will get? I am hopeful we get a big catalyst for a revaluation higher, as perhaps an offtake agreement is announced with a senior player to validate the development potential for the deposit. But I have hoped for something like that for several years and things move forward slowly when its hundreds of millions in capex on the line.
cheers!
mike
Comment by
yixter on Jan 30, 2021 10:17am
This is a dollar stock all day long in my opinion. I wouldn't be surprised to see it hit 2-3$ this year with both REE and Fluorspar sectors heating up, looking at the chart .50 is a key resistance area break that and away we go!