Post by
wildman2 on Jan 27, 2011 9:35pm
What's going on here.
It is my belief that the entire mess this stock is in is Joe Dwek related. When it was nearing .10 the commitment was made by Dwek of Mineralfields to finance at that price of .10 with CDO.
Dwek changed his mind and thought that .10 was too high and not being in the habit of honouring a commitment, then tried to negotiate a weaker price.
Just to say that you don't want to do .10 when it is .085 doesn't look good, so then he began selling his holdings to see if he could put CDO on its back, so selling Joe gets to work smacking into the bid to bring it down to .05 and then the plan was with CDO on its knees tell them that they were ready to finance at that price. Hey, if you don't feel like paying .10, sell it down to .05 and then see how quick they want to finance. Then you get your stock and your warrant and your tax write off for the flow through shares and you are in business working your way to own the price action of CDO.
Instead, the CEO and the company told Joe where to go. Now Joe doesn't like it when he is not the boss of a company, so that relationship is finished.
However, Joe gets to have the fun of watching the company struggle without him with a silly plan to consolidate and no financing in place. CDO was looking so smooth at .10, but suddenly now, no financing, and bamn, a moving forward story is not moving forward anymore.
So the CEO and the company have a threefold plan to get this thing rolling again and they are I believe executing it right now:
- get financing in place.
-release results (but not before the next point happens)
-and most importantly, be free and clear of Joe.
Now, a little Joe background for you:
I presume that you are under the impression that I am crazy and that Joe doesn't wield that type of power. Firstly, I welcome you to study the charts of Joe companies like EFG, DEC, MTB and Bolero. Great stories. Horrible stock prices. Declining from Joe selling that is intense. Joe owns 10 percent of the OS at EFG. Check the insider selling of that stock that he has done. He has thrown millions and millions of shares dumped onto the market and though EFG is an excellent lithium/REE/tantalum story, it can't handle that type of selling pressure.
I am not sure where people are in the Joe knowledge department here at CDO, but at EFG they are well ahead of the game and freely admit that he is killing the stock price and any momentum that there could be.
I presume here, like at MTB, there is reluctance to believe that Joe would do that and no understanding in how he will buy a financing, double down by getting the shares and the warrants, tax write off any losses, raise the cash with the sales, and use the cash raised to do a flow through financing all over again at some other unsuspecting company.
So for me, I believe, and again, you are going to think I am crazy, but that's okay, you wiill get it one day, this is Joe induced pain - all of it. Remember, this company was sailing near .10 and had a money commitment.: I have a question for you all, can anyone hazard a guess as to how many shares Joe may have remaining in CDO.
When he is gone, CDO will announce a financing with new investors, they will release their drill results, and they won't have an albatross around their necks selling into the bid all day long everyday.
That is your road back to .10 and beyond. And that is .10 with the present day share count, not a reverse split which they will also cancel.
The resources remain the same as when it was near .10. Don't forget that. It is easy too, because people get really stuck on a number of .035 and don't remember that nothing has changed since then with the resource, just a man who renegged on a promise and then just to really be without class began selling his holdings.
Companies recover from that.
What companies don't recover from is one resource area they are relying on and driling results reveal dust and tumbleweeds. That is not what we have here. We have an infinately recoverable stock story of a company completely oversold.
So my question again: How many does Joe have? Because when he has none, the CEO starts spreading the good cheer.
Comment by
islandjon on Jan 27, 2011 11:23pm
I agree with you. Joe must be dried up or maybe holding very little for one last low ball sell off. Volume light of late but have seen that in the past weeks and then it picks up again with selling pressure. Maybe February will be a turn around month?
Comment by
goldengirl20 on Jan 28, 2011 10:12am
Unless Joe has accumulated some more on the lastest drop and then starts to sell again and even for a loss just because he is now pissed and he is insane enough to do so. If he gets pissed off who knows what the madman will do. The BSC should keep an eye on him but they probably already are.
Comment by
goldengirl20 on Jan 28, 2011 11:00am
Thanks, wildman for that, I just had that gut feeling last week and had to go with it , Hoping to get filled for some more at .035 had them in for 3 days now and might break down and raise it to .04 avg is looking pretty good now.
Comment by
goldengirl20 on Jan 28, 2011 2:39pm
My prediction would be back to a nickel next week, seems like bids are accumulating below .035 but who knows how the MM play this they might be holding a lot of asks back and just not showing them at this point in time. GOOD LUCK looking for a dime by easter with good drill results and the riff raf gone. then we can do the RS