Post by
westcanpride on May 19, 2021 10:28am
When will this finally start moving again?
Ultimate choke-hold on the CGX share price these days. Absolutely no movement, and hell almost no volume either (not even MM are doing anything other than pointless 500 share moves).
Something has to be happening in the background with a potential JV... otherwise why keep super quiet about what will be the biggest drilling campaign in both companies history that is only mere weeks away (not even months or years no more)? And if no JV, its not like the MM are accumulating any real shares when they aren't allowing any share movement in either direction.
Comment by
soulfire on May 19, 2021 10:51am
I suspect we will stay in the 89c price given that the loan is convertable at 89c. We will be drilling in Mid July. My call is the 17th of July spud date. Frontera/CGX is prepared to go this alone and maybe bring in a JV after. If a JV is announced while drilling then we can be assured they hit the goods. I know it's frustrating but not too much longer now. I feel confident CGX will hit. GLTA
Comment by
westcanpride on May 19, 2021 11:22am
So to confirm, you think we will not see any bump (say to $2-3) as we go into drilling? Or did I read that wrong?
Comment by
soulfire on May 19, 2021 11:25am
I don't believe so. At least until CGX states how they will pay for their portion before they drill Once the drill starts turning there should be fireworks.
Comment by
westcanpride on May 19, 2021 11:56am
Sounds good. Fingers crossed we see a solid upward swing in the coming weeks leading into the official spud date. God only knows what will happen when we hit the target depth, but it would be nice to see the share price well above current levels during that drilling period.