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@lukejackson Surely we don't want to see this below $3... unless we want to buy the whole company...
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@RocketRed $cnl now in the mine plan stage nobody cares good for flips on a bottom headed under 3 bills
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@racker TD Daniel Earle on Continental Gold $CNL This AM This morning, Continental Gold provided an operations update and the 2017 construction outlook for its Buritica gold project (100%) in Colombia. Impact: SLIGHTLY POSITIVE ·         Since receiving the final environmental permit in late 2016 and securing a senior secured debt facility in January 2017, with $100mm currently available, the company has ordered long lead time equipment and hired key project personnel ahead of major earthworks beginning later this year. ·         Continental is hoping to have placed all purchase orders for all long lead time equipment prior to the end of Q3/17. ·         As equipment arrives, underground development activities are expected to ramp-up approximately six months ahead of schedule (30% of the underground mine development equipment is expected to be delivered in Q3/17), allowing for training of its skilled underground mining workforce. ·         The company plans to resume exploration drilling with a minimum 12 km drill program commencing in Q2/17. ·         The company reported $100mm of liquidity, sufficient for its 2017 planned activities. ·         As a reminder, a Feasibility Study (FS) for the project was completed in February 2016, which outlined Proven & Probable Reserves of 3.7 Moz grading 8.4 g/t. Total Resources (inclusive) were estimated at 9.0 Moz at 9.8 g/t. ·         The FS forecasts production of 253 koz/yr (282 koz/yr over the first five years) at cash costs of $411/oz (AISC of $492/oz). Initial capital costs were estimated at $389mm. ·         We note Continental has underperformed the GDXJ by ~23% since the company's 52-week high in February (CNL is down ~43% since then, while the GDXJ down ~20%). ·         We believe the underperformance is due to pre-selling in advance of an assumed decrease in weight in the GDXJ, which is scheduled to take effect at the June 17 rebalance. ·         Buritica is fully permitted and is now standing as one of the largest and highest grade, independently owned, construction ready gold projects in the world. ·         The company has secured a $250mm debt facility ($100mm available immediately) and we expect the stock to re-rate progressively higher as it continues to advance the project.
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@dirkdiggler and what's your CURRENT price target again Mr Earle? $CNL
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@racker @dirkdiggler Spec Buy rating and $6.50 12 month target on $CNL by TD's Earle
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@dirkdiggler I noticed he neglected to reiterate that @racker... $CNL
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@schischi Is it possible that $CNL will be another bust like Colossus ? Or are there moren proven ounces and less problems ?
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@lukejackson I'm of the mind that if JC Parets is correct and gold heads back to -1210 then buy opp on $CNL $LMC will be epic before gold finally breaks out. Unfortunately most attractive juniors are funded at this point.
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@dirkdiggler epic buy opp on your $CNL, what @lukejackson......two - four bits? 😉
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@Pete86 @pschischi yes, there are rumors that this is a second Colossus.Seems like all the ounces are face.
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@Wannabeinvestor It is an epic buying opp. Stink bidding at 3.03 and 2.96.Doubt it will break 3 today, though.
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@Pete86 maybe not today, but there is still lots of room for more downside
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@earango $100M in liquidity, that means that you are actually paying 1.65 USD per share...
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@schischi But what is wrong with $CNL . One of the worlds best deposits but also a bad management ?
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anonymous @Pete86 What rumors have you heard? Are you saying Continental is some sort of elaborate scam?
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@lukejackson Pete does this once a week
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@Pete86 Share price is not lying
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@Pete86 We are down almost 50% within 2 month. Looks like management is not able to create shareholder value.
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@earango Any thoughts @anonymous?
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@earango 50,000 shares ticket just traded
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anonymous so @Pete86 is a duplicitous asshat @lukejackson? sure appears to be one from this angle.
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@Pete86 Dont get me wrong , Otto is just a Long Hair Clown . Why nit Buying at the end of Constitution ? Does this idiot think he Can buy that Cheap at the end of Constitution . What a joke this guy
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@T @Pete86, dont you think the drop has something to do with the $gdxj? $cnl looks to be making the same move as $kldx
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@rdww COLOSSUS had water issues didn't it? CNL is dropping rocks down (inside the mountain) a chute to ground level. Sounds different. pete is a weenie
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@Wannabeinvestor So Sprott is on a site visit at $CNL this week.
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@Wannabeinvestor surely there is the issue of financing, but that was known months ago. What must have started as large scale selling by $GDXJ has now become a big sell-off. I did expect the 3.25 area to hold. Next visible support for me is around the 2.50 area, but I'd be surprised if this is where the stock's headed at one go.
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@lukejackson I think we're still in an area of strong support. I may be wrong though.
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@mountains_of_glory How is the permitting coming along here? $CNL
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@mountains_of_glory RE: CSI, I don't believe lightning strikes the same place twice. It would be too surreal were this CSI 2.0. CSI was a disaster but let's assess and discuss $CNL as a separate entity albeit with the same head honcho. What do you mean when you say the ounces "are face" @Pete86?
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@mountains_of_glory @Pete86, the beating here isn't company-specific, so I'm now of the belief you aren't interested in adding value with your words and comments.
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@Fanagalo There's been a lot of talk, and I might be wrong here but I wonder if people realize the magnitude of this. The GDXJ mess is setting up some great buying opportunities. Just take $TGZ as a case in point (I bought a good chunk yesterday - but I'm most certainly way, way too early). If $TGZ will make up 0.33% of GDXJ instead of 0.96%, and with Van Ecks holding before all of this at 71 million shares, that kinda implies that they have what, about 43 million shares for sale. There's no way that that selling is done, and I fear it's the same in many, many more names like $CNL, $SMF, $WDO, $EDV etc. When all is said and done, perhaps the mid-caps that has endured this selling might be set up for equally explosive runs as the smaller, hot explorers (but with significantly less risk)? Any more thoughts on this tiring subject?
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@dirkdiggler I'm thinking today might be the day that the chutes open on $CNL. What are we at.....500 days of consecutive daily losses?
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@Goldfinger $CNL down 8 of last 9, testing November 2016 low here.
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@RocketRed $Cnl year low 2.30 its in the boring stage now building a mine but the majors who are snooping around just may scoop it for a song
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@Goldfinger Agree @RocketRed, let it fall a little bit more then scoop it up for ~C$4.50ish which would represent a 50%+ premium.... $CNL
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anonymous @RocketRed I wouldn't say $CNL is boring at all... they are about to embark on a 12,000 meter drill program... far from boring and a massive amount of upside given the current price
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@RocketRed anon $cnl why is the stock back to 3.10 from 5.85
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@nobshere @RocketRed -- $cnl why is the stock back to 3.10 from 5.85 ---because a entity has millions of  to dump !! Look out below
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wannabeinvestor seems the chutes are not gonna open today, @dirkdiggler
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@T might have spoke too soon @wannabeinvestor. popping
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@mountains_of_glory I like seeing LARGE holders adding more shares to their positions at depressed prices. A great deal of $CNL stock has been accumulated through Clarus, and Clarus is heavily on the buy today.
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@rdww CLARUS around since CNL started I think.
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@mountains_of_glory Do you have any idea who has been doing the buying through Clarus since the inception of CNL?
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@earango @mountains_of_glory @rdww who is Clarus? I do not see any reference to the name in the top holders of Continental Gold.
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wannabeinvestor surprised that no more insider buying is taking place at these levels
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@rdww CLARUS - brokers, I think typically inst or large pockets. CLARUS analyst one of the first to give CNL targets as well I think
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@earango Thank you @rdww I have just checked and Clarus has an speculative buy rating in CNL since April 2015 Target price ranging from (4.42-6.07) to 5.50 currently.
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@T just picked up a small amount today, still cant believe you can get this right now at $3. even with the sussman/jurisdictional risk its cheap
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