My read on this is that investors are interpreting the move to invest in the JV as a sign that the results from The Bird property are not good. This, of course, could be way off the mark. On the other hand, share holders may be simply voicing their opinions about using the cash elsewhere than on The Bird.

I do not know what the coventents for the JV with KG are, but perhaps COD needed to invest the money in order to comply with its side of the JV deal...just a guess.

Perhaps keeping a core stake in COD and day-trading with the rest to benefit from the highs might be a good strategy. I would hate to get caught on the outside and miss potentially block buster news from the Bird property (or elsewhere), but it is equally frustrating to see a run up in the s/p and then a pull-back to where it was before (or even lower). This is nothing unusual for junior mining stocks, but it does not make it any easier to see the s/p go down as it has with COD in the past few days.

Compared to some juniors, COD has a lot of upside potential and a diversification that allows the company to be in nearly all sectors of the resource mining business (gems, precious metals, industrial metals etc). So, any upswing in the markets in general should be good for COD.

I am going to stick with it, but I may alter my investment strategy to benefit more from the run ups in s/p.

Anyway, that' s my two-cents worth....

GLTA,

Peterjr