I don't really see the grounds for the current upswing to be related to the Botswana Drilling Programme. With regards to the Botswana drilling, the company announced in the last Quarterly p.11:
"Based on the Gemecs assessment, Continental agreed, that __upon completion__ of the Mashala acquisition it would commit to Gemecs recommended 21 hole (which has now been extended to 90 holes) wide-spread regional drilling and coal quality analysis program in 2011 to enable an initial JORC compliant resource to be established at the Projects."
..and that the Marshala acquisition was expected to be completed by d H1 CY2011.
I would say that CCC being dirt cheap and technicals played the main part in today's action, and if so, it should continue on for the rest of the week.. or until Funky's position disclosure changes :P
Foxtrot
CCC Price at posting:
84.0¢ Sentiment: Buy Disclosure: Held
