good tactics

I think the management have made a good move with strategy they have employed.

They are going to drill near some of the old mines in the Adelaide Fold Belt tenements because they know they will have a much higher chance of hiting something there or at least it will be a lot easier than the deep drills in the Olympic Domain and less expensive. Reappraising the data for the Olympic Domain drills is a good thing because they didn't get it right with the initial holes.

This will indicate to the market that they have more than just a lease or two and the share price should go up considerably from present levels when they can prove they have more than a few encouraging words and some leases to back them up. If they made a couple of drills at 20-60m at 1-3% Cu it would add heaps of positive sentiment to the claims made by the company and we would be off and running. I think it is a wise move by management to give the share price a kick before the option expiry date.

Teck Cominco has probably spent far more than the total market cap of CRJ drilling Carapateena so it would be wise to take these things into consideration before throwing out the baby with the bathwater so to speak.

Going for broke and missing those deep targets could send them broke or put them in a weak bargaining position if they do a jv on some of their tenenments. Of course it would be much better to have a successfull drill to go into negotiations and so they are going back over their data to give themselves a better chance before going ahead.

It all appears good tactics to get the thing off the ground to me so i am happy to hold to see how it pans out.