Now that everyone has got their tickets to the main event (some with better seats than others) and the short-termers are out, it's time to get the show on the road
This has held it's ground very well considering over 100m shares just hit the market. Looking back at some of the buy orders it could very well be underwriters and brokers getting in early
Before the news tap is turned and the announcements are flowing, it would serve CLN and it's shareholders well if a presentation was released to update the public of recent events and their significance to CLN - we are now shareholders of a co that is;
** WELL-FUNDED.. Placement was successful
** COMPETENTLY MANAGED. See new appointment who is in Mali now
** FUNDAMENTALLY SOUND. over 500,000 ounces of gold net to CLN in proven resources with the aim to double this over the next 8 months. New gold province. High grade. Next door to quality gold assets owned by dominating global players. These assets have put CLN in a very enviable position
** TIGHTLY HELD. Despite placement there are only 150m shares on issue and with a 1m ounce gold resource on the way this leaves plenty of room for growth even before the value adding process begins. The underwriters have a large portion and look at stocks they have previously been involved with in Africa eg MRU
** WORTH 30c COMPARED TO PEERS BEFORE UPGRADE. See most recent presentation (asx announcement)
** EXPLORING FOR A BOOMING COMMODITY. Just look at the gold price. And look at the chart, daily, monthly, on the yearly. The outlook is strong. Just ask James Turk
Brokers and the overall market need to be informed.
Next week the aquisition will be finalised and it's announcement will mark the dawn of a new era for this company.
A consolidation back up to and around 12 c would be great before an announcement is released detailing the results from the lab. 8000 samples should keep them busy and give CLN enough to talk about. Then leading up to the drilling campaign I'd imagine a lot of people will want to get on board this train before it's valuation goes from 35c to 70c! (i.e 1m ounce target is achieved and based on asx presentation numbers and current gold price). If they define MORE than 1m ounces, then wooooooosh! Who knows how high CLN will go!!
A lot to look forward to
CLN Price at posting:
8.6¢ Sentiment: Buy Disclosure: Held