The VTEM survey was always part of CML strategy as per announcements. I presume the delay has been finalising the CNC DD which if successful would have meant flying there as well and mobilisation is always a large part of any survey cost, i.e. do not pay twice. Results are weeks away pending when the survey commences - sure we will be told. Pity VTEM will not be able to assist with the basal Lorraine Mine gold potential as it only locates massive sulphide bodies. Drilling will be required to determine what is under Lorraine - both gold and more massive sulphide if the VTEM substantiates what is in Figure 3.
I think Leon is buying simply because the shares are about at cash backing, but the VTEM survey will suck up some of the cash - hopefully with resultant anomalies to drill.
I have been in KRB and TTW and now CML - Patience.............
CML Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)