Discussion and conclusion: To sum up, we have a company that hides the fact its EIA permit application was denied but now swears blind that evrythin’ gonna be alright, a sellside brokerage world that’s keen as mustard to promote this stock using any sort of conjecture it can lay its hands on (but neatly ignores passing on hard facts when they’re negative to the storyline) and then just after Corantioquia gives its side of the story to the press and directly contradicts the neat CNL narrative, a key member of the permitting and legal team who bails at an optically awful moment citing a weak reason for the decision (effective immediately).And on top of all that, this is the company run by the very same team that blew up hundreds of millions of dollars in the Colossus (ex-CSI) debacle at Serra Pelada in Brazil, in which everyone (including the main and bigtime insto investors such as ARC Fund and Sandstorm) was kept totally in the dark about the massive and very fatal flaws in the project until it was way too late to do anything about it.I continue to marvel at the way in which the world of mining will believe anything told to them by anyone, just as long as there’s some shiny metal dangled as the prize at the end of the narrative. CNL.to isn’t an investment opportunity, it’s roulette. Whether it’s the traditional casino or Russian version is up to you to decide.
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About two and half pages of last Sunday's 31 page Weekly were dedicated to a discussion of the recent ups and downs at Continental Gold (CNL.to). Here's how that note ended:
For successful living, avoid ownership of this company.