Unfortunately there are stocks like CGP that there is no point in doing anything. This stock is basically down to no value at this moment. I assume that you, just like me, may still have that one in your portfolio, right? So the only thing to do is wait it out and hope for some salvaging value when things change.

Yeah, I still own it... more's the pity.

CGP demonstrates just how absurd the junior market has become:

62,455,000 shares X $0.04/share = $2,498,200

As of June 30, 08 they still had $4,411,300 on the books.

They show a net loss for the 3 prior months of $804,631.

So, all things being equal....

$804,631 X 4/3 = 1,072,841 to present

and 4,411,300 - 1,072,841 = 3,338,459

so, 3,338,459 - 2,498,200 = 840,259

thus CGP trades for 840,259 less than the cash on the books.

I guess when they wind up the company someone's getting the furniture for free? Well, that's OK, as long as I get the mineral claims, which also have zero value.

Otto ran similar calculations for Fortuna Silver, which is also selling for less than cash on the books, and that's a producing company with positive cash flow!

Something is very wrong with this picture. Jim P. thinks it's naked short selling and I'm inclined to agree. What else could it be?

These companies ought to wise up and just move to the Lima exchange. I'm sure their regulators do a better job than the OSC.

ebear