For the past 6 weeks since the .11 cad lows achieved leading into the AGM, CGX has climbed over 6 cents or ~60% and now sits at .175 cad.
Earlier this week, FEC transfer its entire CGX holdings to a holding entity in Europe. Most likely to shield itself from capital gains... as many know, FEC break even in CGX is ~.85 cad. If anything, if FEC was going to be selling off CGX stock for a loss, it would want to do so in Canada where the capital loss laws are probably more favorable. But it did not do that.
end of day, I think this recent uptick since early Sept is legit and we will now keep going upwards. Hopefully we get an official NR soon that's positive for once and really move this upward back above .40 cad and closer to $1 cad again.