Short Term Trading Week Starting: 10 July, page-57

Far from a sure thing. They have targets of large magnitude (Zola currently being drilled and Ringwood later this month) each compared in scale to those of PLS etc. Also plenty of cash in the bank and oppies to be converted soon too.

The previous grades at far smaller targets were good, met work good also. Previous targets just too small to be seriously commercial (although they have a small existing JORC they are looking to expand and DSO).

I don't give price targets but the whole $1 talk is based on there being similar grades at their larger targets as to the grades at the smaller targets already drilled. Hartleys have said 83c from memory if there is similar mineralisation in the larger targets.

Don't get me wrong though, if Zola and Ringwood draw blanks, this will come back pretty hard.

Disclosure - I hold a decent amount of CXO and have for a little over 12 months.