Candente (DNT.to): The sheep begin to catch up with Otto

Here's a big fanfare-type note on Bloomberg today featuring two performing monkeys in Canada who have decided to announce the totally obvious about Candente Resources (DNT.to, CDOUF.pk). This is presumably because their bosses at the big Canadian brokerage houses have filled up enough at the cheap prices and have told their "everso everso independent and free-thinking" analysts to pump the stock to the little people (errr...that means you, dude).

And because sheep suddenly read nice things about DNT.to today and "discovered" the company, it pushed the stock up 11% on double average volume (which is pretty darned impressive on a day when Canada is open and the USA closed).

Here's what performing monkeydude number one said:
"...People are getting excited about a resource update.... The price of shares may rise to $3 in a year...."

And here's performing monkeydude number two's contribution to society:
"...one of the most deeply discounted copper deposits in South America......may be a target for a takeover......It's just so tremendously undervalued, and the market just overlooked it, at least before today...."

Yeah right. Overlooked by the market, but not by Otto. Here's my post from 10th April that was all about Candente, and explaining about

• the upcoming resource update

• how darn cheap it is compared to peers

• a price target of $3.13

• the obvious buyout opportunity

And just to be nice, I even did a chart to show you what kind of ranges we could expect for bids.

Today DNT.to closed at $1.91. If you'd taken my advice six weeks ago, you'd be in at $1.54 and sitting very pretty.

(does not include today's move to $1.91)

Y'know, I'm not kidding you about all this. I really do know what I'm talking about.

Moral of this story: DON'T BE A SHEEP. DO YOUR OWN DD. DON'T WAIT TO BE SPOONFED INFORMATION AT A TIME THAT SUITS THE BIG PLAYERS.