my favourite for a punt...

CRL's shareprice rose from the mid 7's to touch a high of 12c late last year on the acquisition of the Devine project...

Now they are drilling it!

Not much else going on in their portfolio, so an investment in CRL right now would have to be viewed as a bit of a punt, but as punts go, I reckon it's a pretty good one.

SRK consulting describes the first EM anomaly to be drilled as a "very high quality target".

Comet’s Director, Tony Cooper says Devine has “known nickel sulphide mineralisation in the right rock types"...and..."Our consultants say that the EM anomalies are consistent with the response expected from massive nickel sulphide bodies."

The known mineralisation (with a best result of 2m @ 1.3% Ni) was originally drilled in the early 1970s, when the depressed price of nickel put a stop to drilling in the area, leaving the prospective zone virtually untested.

Given recent advances in nickle sulphide exploration techniques and the prevailing high prices of Nickel, CRL now have a real chance of finding an economic resource of..."Cosmos and Kambalda style high grade nickel sulphide mineralisation".

Any find could be a potential company maker...anyone remember WSA?

For those interested...CRL have approximately 60m shares on issue (unchaged for years) , 30m 8c options, $3m in the bank and quality management with a good track record.

But remember it's only a punt at this stage...the shareprice will more than likely fall back below recent lows if they don't come up with the goods...but if they do, it could easily get to 50c with the right news.

With 4 separate EM anomalies ranging from "good to very high quality" currently being drilled, near known nickel sulphide mineralisation, one would have to admit that the chances of success look pretty good.

The Devine Project is owned 100% by CRL

Cheers!