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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@MadeOfRubberAnon, this could be the missing link we should have seen. http://www.redeaglemining.com/news/details/index.php?content_id=353. Basically if I'm reading this right, it sounds like they were going to do an IPO (potentially diluting share price?) and if what you are saying is correct (it's not released as news yet that I can see) then they are shelving that IPO. That could be due to changing market conditions in Columbia, more importantly, I would hope that means that the share price can recover.
@NewtonInteresting news. Not an IPO @madeOfRubber but they are canceling share offering. I haven't seen this before so don't have good handle what may be going on behind the scenes and what options are open to the company. Probably hard to find buyers for new shares with weakness in public markets. Maybe they are finding that they don't need equity financing with production coming online?
@MadeOfRubber@newton@wannabeinvestor thx for that gents, that's right, they wanted to refinance debt to lower interest rate or something. It's slowly coming back to me. We need some news from them soon, otherwise the selling will continue. I am trying to buy reasonable dips but am losing opportunity costs going into gold season.
@EvenPrimeGoing for a beer with @TheGalvanizer at 4:15pm today at the lions pub downtown Vancouver if anyone else wants to stop by. @madeofrubber is going to join as well. @murat your invited :) Nothing like a good beer on a Monday afternoon to start the week off properly :)
@MadeOfRubber@anonymous Not fear, frustration, big difference. Fear was $azs a couple weeks ago. I don't see any comments above of people exiting. Point is discussion. If you have info or something useful to add, feel free.
@Chucklee@MadeOfRubber i agree. Its not fear. I averaged up to around $0.78 just to see my book value almost halve. Its super annoying and super frustrating. Especially because so many signs pointed to a higher SP. Oh well. Definitely not going to sell, but not i'm not sure if i'm going to add as well. Ugh.
@MadeOfRubber@Chucklee@wiley_coyote I'm with you both, was thinking of reevaluating in December this year but I have no problem waiting. I am making some minor trades today to free up capital to average down. My average based on account (wife, kids, myself/rrsp) ranges from 65-75.
@MadeOfRubber@wannabeinvestor This is a much smaller audience compared to $CNL so I'm not surprised at the lack of buy back. Note that a lot of people averaged down around 65, I don't think we expected a 50 cent out of this. I had to exit one of the two zinc plays to average down into this unfortunately :(
@NewtonChecking prices all day frustrating. Some of my best transactions were buys and sells from orders that I placed weeks/months before and had forgot about. Didn't know they had executed in some cases. Don't be negligent but this way madness lies...
@MadeOfRubberLooking at level 2, it's small positions pushing this down. It looked promising yesterday but today, not so much. Weak hands for sure, I don't mind picking up another 20-25k but am waiting it out. Not a lot of support, 40 cents has $50k worth. http://cdn.ceo.ca/1ckqpdf-IMG_3214.PNG+
@MadeOfRubberNever thought I'd see the day in 2017 that $KNT would be trading higher and more consistent then $R. Embarrassment for sure but the silence from mgmt is interesting. Not to mention my email to $R mgmt went unanswered.
@MadeOfRubberGoing on a limb, maybe he's as surprised and nothing is wrong. Do they normally release an NR saying that? Maybe wishful thinking on my part. End of quarter is pretty close so I expect something within a month or so.
@wiley_coyoteThe company is required by law, if I'm not mistaken, to release any and all information re: "material news". But I'm with you @MadeOfRubber, I have a feeling they have no such news to release. This might be a textbook case of weak hands abandoning a position amid rumors and speculation and the company has simply chosen not to comment. The drop in SP has been dramatic, however, and has been rather painful to watch. I certainly hope there is no significant piece of negative news waiting in the wings...such a one-two punch would be devastating. We'd be talking about a .25 cent SP and it'd be 2+ years before folks would be able to recoup their investment.
@MadeOfRubberAgree with you both, and perhaps mgmt is stubborn and not commenting as a 'baseline' -- i.e. Nothing is wrong and we won't be duped into an NR for no good reason, so they never need to do it again in the future, a backhanded way to create trust lol. I'm such a dove. I've been watching level 2 a fair bit and there are definitely weak hands. I was expecting a Friday NR with something and got nothing which may actually be promising, so I'm interested in how this trades next week. Cheers gents