Derek thinks that buying current share means he's buying the current company and ALL it's resources that it has rights to. problem is, the company wants $25M to play around in Argentina. So after the 15:1 split, there will be about 4.4M shares, Then the company will sell 25M more shares, so current shares only make up 15% of the company. Then once Argentina is a bust and the money is gone AGAIN, today's shares will be only worth 15% of what they are worth RIGHT NOW!
Cxz is not in bankruptcy yet. It has few months to respond back to the NYSE inquiry.
It doesn't need $25 m for Argentina. A R/S of 1:20 and some dilution is reasonable. $4 M will get it into 2014. I said it before many times, the U price will eventually go higher and will squeeze this sector.
Cxz is not a 4 million dollar market cap company when the u price is back at $70. This stock will be much higher.
This stock was always easily manipulated and it can move higher very quickly.
$4M will just pay the crooks' salaries (and vacations) and property taxes for another year. It won't pay for Argentina and it certainly won't pull any revenues out of the ground. If they can't make money with what they currently have, then they should sell everything or go private. Continuing to fleece the sheeple is immoral.
They are not uranium miner friendly and somebody wouldn't be selling it if they thought there was something there worth owning. Management can't make anything of what they have in North America so South America shouldn't be any different. This dog won't dig.
Spanky is correct a 1 for 15 r/s will not get them out of this, i have not checked but will eventually , i think 1 for 15 is the max that is allowed, 15 x .06cts = .90cts, the minimum price needed is $1 for so many days, so unless management ponies up or an angel investor steps forward to prop up share price, cxz is headed for de-listment, and with the U market showing no signs of recovery, and no special projects even close to production who would other than manangement? however they came from the TSX and the TSX-V so maybe its back to where they came from, but i will be the last to predict the future, but this is how it looks to me, but i have been wrong so many times i have stopped counting, but KUDOS to you again spanky u deserve it, and DerekP i hope it somehow works out for you, and if this sounds two-sided, it is, because i have no idea what the future may bring
Thanks Thomas! I just called it like a saw it. Looks like a 1:20 split could be in order. I've seen that before. I think AIG was a 1:20 or so after the bailout dilution.
The R/S isn't what is bothersome to shareholders, as I'm sure you know. It's the dilution that hurts. For kicks, I put "reverse split" in the search box and expanded the time out to "all" rather than "3 months" and I read what posters were saying back in late 2010 when the last R#$%$. Most of the naysayers were right long term. The manipulated pump and dump can't be counted on to happen again I'm afraid. You mentioned earlier that the previous R/S was 1:4 so the share price would have been 1/4 of current price. But actually, it's worse than that becuase of the dilution at the time of that R/S plus the one (dilution) that occured last year. This stock has been butchered over the years as the long term chart shows.
There's nothing really to say at .05 now. This where I pictured this management taking this all along. It is what it is and it's a shame for those who have been burned. A buyout here would be best, but doubtful. To keep using shareholders would be wrong but seems to be the company's MO.
Good luck Thomas if you gamble here. I put a bid in for 50,000 shares at .0525 today in the last 15 min and I'm not disappointed that it didn't fill. You're buying the management here and that's not a good thing.