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Crosshair Exploration and Mining Corporation: No sign of recovery!

Crosshair logo 05sep07
It is disappointing for the holders of this uranium stock, as there as yet appears to be no signs of recovery for one of this industries favourate uranium plays.

The chart tells us everything, from a high of $4.00 to $1.23 for a fall of some 70%. Other stocks in this sector have formed a bottom and would appear to be on the road to recovery. Crosshair has hit the bottom but maybe now we will see some consolidation at these low price levels before confidence returns to lift this stock back to its former glory.

Crosshair chart 05sep07

We have traded this stock in the past but are reluctant even at these prices to make a purchase. Crosshair will remain on the Watch List until we see some signs confirming that it has indeed stabilised and can head higher.

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Reader Comments (11)

With all respect, why does "other stocks" in this sector differ from this stock? It clearly looks to me that NONE of stocks in the U sector made a bottom yet. Hope I'm wrong of course and awaiting your reply. Thanks in advance.

September 6, 2007 | Unregistered CommenterMyKel

One: To date, it appears the 'bottom' was reached on August 16 and if you look at any one-month charts, you can clearly see that for almost every u stock, that was the bottom. There may be another downleg, but possibly not as deep. We'll see, but prices at this level are pretty darn good and when a recovery comes, it may come like a shot out of a cannon and if you don't have your positions, well, it'll be hard to buy in cuz you'll think it's going to drop again. Investment risk is now, I think.
CXX is rated as a "strong buy" by RBC (Royal Bank Canada) and this is a new rating. Given their proximity to Aurora (AXU) in the Central Mineral Belt, and their continuing exploration, it could be a double bottom formation. I decided to take a chance and bought in at 1.31, as I've been following it for over a year now. I did sell when it was at $1.73, so this is a buy back for me and I consider that a 42 cent profit (sell high, buy lower).
Bob G

September 7, 2007 | Unregistered Commenterstoneygulch

What I was trying to say was that Crosshair had fallen to $1.25 then tried to recover but this failed and the stock slipped back to $1.25. However if we look at Lam (dropped to $4.5 is now $6.5) or MGA (dropped to $2.7 now $3.5) and CCJ dropped to $35.00 is now $40.00) my thinking was that theses stocks were showing signs of a fight back but CXX wasn’t.

September 7, 2007 | Unregistered CommenterUranium Stocks

I forgot to add one comment: I have noticed that CXX seems to lag the market. e.g. when other stocks are going down, it holds up better, then drops. And the reverse has been observed too; it lags the upturn of other u stocks.

I don't think you should compare MGA or LAM (intermediate stocks) or CCJ (senior stock) to a junior like CXX. Their market caps are way different and the volume of shares traded is much higher. CXX has low volume and only attracts small investors, not the investment type companies or mutual funds. And the proven resources are significantly different for all these companies. I think (opinion) that when the uranium sector turns, we'll see some upside to CXX.

September 9, 2007 | Unregistered Commenterstoneygulch

Hope that you are right, but CXX is drifting lower today.

September 11, 2007 | Unregistered CommenterUranium Stocks

And what about RPT and all others? Has there a new U bear market born?

Long: lot's of U stocks, short RPT (till $0,22 CAD)

September 11, 2007 | Unregistered CommenterMyKel

Well, CXX took a big turn today, up 0.28 cents to $1.73 for a 19.3% gain today. Since I purchased at $1.31 (see Comment #2 above), that is a 32% gain in less than 3 weeks.

It appears the whole uranium sector is on an upswing; so, August 16th stands as the bottom. At this point, I no longer see any significant downside, as another of my holdings, Aurora Energy (AXU) was up $1.13 today. If we can agree somewhat with Neil Froneman (Uranium-Stocks article Sept. 21), then we should see more upside heading into October.

To all those who held tenaciously through this cruel downturn, let's enjoy the fruit of our gains.

Bob G.

September 21, 2007 | Unregistered Commenterstoneygulch

What are all you imbeciles thinking now, those of you who, last fall, said this disgraceful company's stocked "bottomed" in August, or "I see no significant downside", "we should see more upside"? Please tell me so I can do the OPPOSITE!

Or how about the Royal Bank of Canada who called this stock a "good buy" when it was $1.66? I wouldn't be surprised if that bank closes it's doors sometime very soon.

Looks like a 50-cent a share for this company will soon be referred to as "the good ole days" by the end of this week. I hope the losers who run this company get carted out of their offices in handcuffs, Enron style, any day now. I actually hope they ARE a bunch of crooks, stealing shareholder's money, (no one could be that incompetent, a company losing 85% of it's market cap in about six months?)at least then I won't feel so stupid.

Sincerely, and $85,000 poorer,

the biggest imbecile of them all,


PS: Does Canada have a death penalty?

July 17, 2008 | Unregistered CommenterJoeBronx


In my last post, I said 50 cents-a-share would soon be referred to as "the good old days". Please allow me to change that to FORTY cents-a-share can now be called "the good old days".

I'd even be cheering to see this stock fall to zero just to see the scumbags & lowlives who have destroyed this company carted off to the worst Canadian jail in existence. No mercy whatsoever for these incompetent vermin....

August 28, 2008 | Unregistered CommenterJoeBronx

the difference btwn. the valuation of a uranium company, and the price of a uranium company in the stock market has no apparent connect. the year long slide is like investing in 'bizzarro world'.

September 7, 2008 | Unregistered Commenterrichard mruz

Whoops! Another retraction.

Looks like 15-cents-a-share is officially "the good ole days".......

I've never, owned a stock that is down 97%, never, ever, ever! Any chance of a shareholder lawsuit, let me know.....

October 22, 2008 | Unregistered CommenterJoeBronx

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