Friends,
Today after the news was out CMIN spiked and I saw that the Vol for the whole day was far less the daily vol.
CMIN spiked up by 4 cent with 200,000 shares vol whereas the average Vol use to remain over 3,00,000 shares daily.
Seems there are very less shares in market and hence when tommorow when the news will be out CMIN should go up higher.
I read views that someone was saying that they have no Cash in hand but with a co like Mining in Gold ,they need to first invest and then the Cash comes in play.CMIN is a mining co and not a manufacturing co which sell the products and revenue starts incurring.
CMIN has to place shares through private placement and from that money they will dig holes in sand at Peru and other places to find Gold which will be precipitated through alluvia methond or any other methond they found fit.
So , according to me, they don't have any Cash in Hand is not a negative......
I think this is the best time to invest in CMIN....