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CSE bulletin 2018-1208
Canamex Gold Corp. is in default of Canadian Securities Exchange requirements. Effective immediately, Canamex Gold Corp. will be suspended pursuant to CSE Policy 3. The suspension is considered a regulatory halt as defined in National Instrument 23-101, Trading Rules. A cease trade order has been issued by the British Columbia Securities Commission.
Date: Dec. 6, 2018
I have requested comment from Spock.
That’s another £1000 lost. Spocks recommendations have cost me a small fortune with many down 70-90% and only a couple in profit.
I am With you NS.
I participated in most of the PPs and was counting huge gains immediately.
In fairness there were dozens of others all over the net promoting their picks in that manic enviornment back in early 2016
Many of us got very excited at the potential of a V bottom and many of these “rocks” exploded to 10 and even 100 baggers.
Alas….when the charts turned bearish and it became evident there would be no V at that time.. we all coulda woulda shoulda sold .
But the “potential” gains were blinding.
I have been at this since 1994 when I bought into the mini miner mania where EVERYTHING in the Explorer Sector went wild for a year or so …My stock broker said sell your wife and kids and buy more so I did ( well not the kids) . I rode Bandore Resources up from about $1 to $10 ( post split) in a few months and rode it all the way back down to 10 cents….it was taken over by someone who then got delisted a few years later…I still had it.
How this can keep happening to guys like us ? I can sum it up in my case…Greed .
I just got a phone call back from a director of the company. The halt was due to a news release back in June, where the CSE needed clarification of what Canamex is doing with the security tokens. The CEO has written a response to the CSE and it will probably take them a while to understand it, since they are not very technically competent understanding security tokens and how they work obviously. So the stock should be up and trading by Wednesday again, with a news release to explain everything. My interpretation from talking to them directly is that there is nothing to worry about at all. I hope that helps people sleep better tonight. I know I will.
Banimal
Wow. Thanks so much Banamal. Good sleuthing. That’s incredible.
One could certainly see how regulators would have no clue regarding the Tokens.
Must be an incredibly frustrating time for management.
I think they are worried that this will cause selling of the stock once it starts trading again. They hope they don’t let it trade until everyone gets a chance to read the news release explaining everything, and that then it will set their mind at ease and not panic sell. I think it anything, it’s a good time to buy – when there’s blood in the streets as they say.
They do have some very credible properties in Nevada . They got some good attention with their results when there was a buzz in this sector a couple years ago. Thanks again Banimal
The press release from the CSE made it sound as if they were delisting
sheesh
PS the pink sheets US equivalent is still trading so we should keep an eye on it
Thanks B!
Good to know that I’m in gold company?.
Good company.
Both 🙂
Bad company.
The biggest mistake Spock made and all his subscribers was his switch from a nice mix of producers and some well known explorers/developers like SBB, VGZ,… to a lot of unknown explorers like NXS, SEK, without any proven ounces or deposit. On top of that he recommended to put allocations like 5%-10% in some of this names.
To be honest I made similar mistakes in 2017, when I invested 10% of my assets in 2 risky explorers that never worked out, management did have a very good track record, but even then they failed as always can happen in this industry, see BAY recently, the best geologists in town, and they did not found anything until know, therefore always limit exposure to exploration stories to max 1-2% portfolio/name
Were you ever interested in Novo Alex. Some really high profile promoters in that one and the Head Geologist is heralded as the best of the best. His reputation is taking a hit now I would guess.
Garibaldi ? same story …a mad dash of excitement….then poof.
I always try to buy ahead of the big run up. That’s why I passed on NVO, GBB and GBR, because I was too late. I believe besides the potential in exploration its all about maximizing profits and minimizing losses, so therefore better entry before big run up, if too late, WAIT because there are always other stories or better entry points. I played BAY this year, and once I felt like nothing would happen, I sold break even. I think it is a VERY difficult game as you have to enter multiple stocks before big drilling results come out, if they hit big, you are lucky, if not, SELL. that’s why I prefer to put at least 80% of mining portfolio to producers and developers with proven ounces in the ground.
I would not touch NOVO. It is on a different path now.
Warning about NOVO top was in a post
https://goldtadise.com/?p=414570
Expensive lottery tickets. I remember when Colossus when to zero, it was painful: https://www.reuters.com/finance/stocks/companyProfile/COLUF.PK
I only trade miners with liquidity and good charts. If want a bit more risk, I’ll mess with the silver stocks.
Good advice.
Not a part of this, so objectively wondering…the gold price hasn’t or shouldn’t have caused this. I’m thinking is it contagion due to stocks in general, or even due to crypto market imploding!?
See my post above in reply to FullCrownGold.
Banimal
Check out this video explaining the listing of the security token here:
https://ca.proactiveinvestors.com/companies/news/208052/canamex-gold-set-to-collaborate-with-malta-digital-exchange-on-potential-security-token-listing-208052.html
It should put your faith back in David Vincent, the ceo, and the company.
Oh i have faith in David Vincent. It is onlly the market causing this sentiment problem.
As long as these companies stay alive they will do great when market turns around. Real price of gold is turning and the choice for investment going forward will be these micro stocks in advancing real price of gold (Gold/commodity)
Thanks Bikoo, I’ve felt the same way. Anyone could have sold when the rocks started to turn down after the 2016 run and it was a good one.
Hope springs eternal…… that well never runs dry….
It runs dry while lying in the gutter. Well, maybe not even then.