Majority are not wanting to bale pre Drill ann (due any time now) which is likely to be of bonanza grade by all accounts. So many carrots here, Cougar well set to leap IMO Revenue last year was $22 mil up from 2010 of FY $5.5 mil and this financial is looking to achieve $30 - 40 mil (more likely the upper end). Drilling to continue till year end, so expect a string of results. Production ramped up and achieving 120gpt, cyanidation of 2000+ Ton of tailings estimated @ 33gpt about to be processed. Drilling business going from strength to strength. Company split (Gold/drilling business)is on the company agenda, dividend inter-mated at some time, and also a trump card of 131,000 ton of Nickle and 8,800T cobalt at Pyke Hill for sale or JV. Cougar is self funding so no cap raisings. POG increasing, bodes well for increased profits. 263 million of the 406 mil held by top twenty.
Lots more to add here, no brain-er short and long term.
CGM Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held
