Stocks are always very hard to predict in the short term. On the last day we traded, we had a large aggressive buyer who wanted to accumulate 500k shares quite quickly. He put up his bid at 72 cents and kept moving it up all the way to 75. If this CTO has not spooked him, he still had 191k shares on the bid at 75 cents and this would be very supportive of the share price. Gold prices have come down from the high but remain over $1200 which gives us about $700 profit per ounce, a very nice margin! The target for this year for Lamaque was 45k ounces but we are a whole month ahead of shedule so we should be closer to 50k ounces this year at Lamaque and 20k at SJ for 70k ounces this year.

This CTO has played against the companies credibility but I have no clue how that will play out in the share price. I was not happy about this CTO but it has not caused me to waiver about how I feel about gold and CMM. If CMM delivers operationally at Lamaque and keeps under promissing and over delivering where it really counts, it should not take too long for the market to give the company a MC that reflects 2 producing gold mines, the main one in Quebec, one of the best jurisdiction to mine gold in the world. This is a great story once you get past the history of CMM and the CTO. Gold is the best sector to be in right now, not only a great safe heaven in these uncertain times but the best performing asset class as well. Because of this, many investors are looking for stories like CMM and when they look at the company objectively, there is great upside here with little risk. For this reason, I remain heavily invested here.

If there is a sell off tomorrow, it will be short lived and I will be ready to buy more shares if we hit 65 cents again, I just do not think we will see that price again. I think a target of $1.00 in the next month is possible but many have this as a sell point so it will take some time (consolidation) to cross that threshold and hold it but it is only a matter of time in this bullish gold market!

Glorieux