The Emperor has no Clothes
CGP is a very special company? I find it difficult to disagree with anyone articulating positive aspects to our beleaguered CGP....... Maybe so, maybe so ForrestG.. But, similar to, in proximity to, possible extension of or modeled upon and compared to, do not a mine make.
I spent several hours studying the far south Lepanto deposit in the Phillipines and the first striking difference here is the enormous amount of drilling and capital spent on this project. Including the latest drilling done by Goldfields Inc: so far to date almost 100,000 meters ( 100 Kilometers ) of core samples, as opposed to CGP's paltry 5000 meters. The Lepanto area also has historic mining as well as other mines currently operating. The majority of drilling was done from existing underground mine workings, as there is a 500' cap over the ore deposits.
Yanacocha??? #2 sized open pit mine in the world. CGP's 3 x 8 Km Gama prospect COMPARED to Yanacocha in CGP report. Sounds fabulous but there is no rush to back up this report with any facts via the drill bit at all, so far.
How about something closer to home like IMG's Quimsacocha only 8 miles from the much touted Gama prospect and nearing 2 million ounces of au in reserve, now this was something that made potential investors sit up and take notice and get on the CGP wagon quite some time ago. But alas NADA so far dear boy.
You are correct in stating that CGP shares are 10 cent lottery tickets now, at one time I considered them better than that. Lottery tickets have expiry dates and become worthless, so the question is will CGP leadership do all they can to inject value here before that date, or is it already too late because we are now in a killer market.
ASC v Glen McKay
Strictly Glen H. McKay's problem not CGP's. His current position with the company is as a non executive director and advisor. Looking at the matter ( if that is all there is ) my first thought was, what shareholders did he to defraud or made to suffer? Did he backdate options? manipulate the stock price? distribute false news? defraud the company and shareholders? Doesn't look like it, if as I said there is nothing more. I own more shares than what are involved in this affair. Well thats it for me..... Willie