Rebel,

Why do you suggest that this was the evil plot on the behalf of the CLL management?

CLL telegraphed the idea of $20 million exploration funding at the Credit Suisse conference last month. The new IPO does not happen over night. It take time to put the wheel in motion. You have to get the syndicate of underwriters. This time led by RBC Capital Markets.

Just look who was responsible for the 8 million shares traded on Thursday, Sep 30. RBC Capital(#2) swapped and sold over 3.5 million shares and Canaccord (#33) another 3 million shares.

When the Share Dilution news broke on Monday all was clear. Downward pressure on the CLL shares evaporated.

I took small trading position (35k shares) at $1.2. As I suggested to Brian last night, Traders and Institution will move the CLL SP soon.

It happen this morning. $1.27 became the resistance and we should move to the next target at $1.45 to $1.47 if general market will cooperate.

It was a good opportunity provided by the CLL management. Unfortunately it did not do any good for buy and hold Investors since each CLL new issue is priced at depress price level and well below NAVPS.

This is why it was dilutive to the long term shareholder and benefiting underwriters and traders.