teenager still trading in kids shoes

I'll kick this off again as moderator didn't like the way I headed it before,I've consoladate some of my posts.

Bonanza gold grades with excellent income also a drilling business that is achieving $5.5mil per quarter. Both being ramped up atm, quarterly money spent retiring debt and buying machinery and it's still kicking around in kids shoes.
2t ton at 40gpt of tailings to be processed on top of ramped up production = very good $$$ especially with POG rocketing.
There is no other junior company that I can think of that has such a good outlook/future and especially not at this price.
Small registry 400k, very good & highly respected management, excellent prospects, it's all there for the taking at a child like price.
This should not be trading at this level.
I can't believe this has been smacked around so much, this should be hovering around the 9 - 10 cent mark now at absolute minimum.
Anyone with 1/2 a brain can see the value and potential here, it's so obvious.

The value and opportunity CGM represents is like no other.
Pyke Hill is an unknown quantity as the Nickle value is in the ground, what would this be worth to Cougar as it's also not recognised in todays SP

The Company is seeking third parties who may have an interest in participation in the project.
Pyke Hill Project, Murrin Murrin Nickel Operation in Western Australia. Cougar holds the nickel and cobalt laterite rights to the project, published Measured plus Indicated Resources of 14.7 million tonnes grading 0.9%Ni and 0.06% Co for 131,621 tonnes of contained nickel metal (0.5% Ni cut-off).

****************************************************
June quarter drilling services revenues generated of US$5.59M.
June quarter gold sales of US$1.19M from trial mining at Ze Vermelho

The high gold grade nature of the Ze Vermelho mineralised structure continues to be confirmed through assays of channel samples systematically taken at each advance. Thirty-two (32) samples taken at the -74 level returned an average grade of 104 g/t for a mean vein width of 0.78m.
NE
Width * GPT
0.64 -- 87.8
0.65 -- 131.4
0.90 -- 89.8
1.29 -- 110.8
1.52 -- 80.1
1.23 -- 39.7
0.55 -- 8.9
NW
1.23 -- 166.8
1.01 -- 177.5
0.94 -- 63.9
0.68 -- 60.9
0.52 -- 108.7
0.35 -- 152.2
0.61 -- 159.2
0.61 -- 122.0
0.81 -- 329.9
0.81 -- 302.8
0.71 -- 263.5
0.54 -- 425.6
0.41 -- 306.8
0.35 -- 207.8
SE 12 samples
range; from 0.5 to 27.7 gpt

Gold production
The processing plant was upgraded during June with the addition of a third hammer mill and a second centrifuge. This upgrade aimed to raise the processing rate from the actual 350-450 t/month up to 600-650t/month. This upgrade was completed successfully with processing rates increased up to a maximum of 30 tonnes per day.
For the quarter, 1066 t of ROM was gravity processed which yielded 23,249g of gold at a mean recovered grade of 21.8 g/t of gold. Revenue by way of gold sales for the quarter was US$1.186 M.

An estimated 2,000 tonnes of tailings grading an estimated 35-40g/t are now stockpiled awaiting cyanidation.
Cyanidation circuit now scheduled for early September start

Drilling Services
On a combined basis, the Group's Uruguayan and Brazilian drilling businesses generated external sales for the June 2011 quarter of US$5.59 million (March 2011 quarter: US$5.31 million).

Exploration Drilling
The drilling program aims to evaluate the extension of the mineralized structure both along the strike and down dip of Ze Vermelho.
***** Grades from 6.5 to 140.4 G/PT *****

Peixoto de Azevedo:
Subsequent to the quarter a drilling program at the Cidnha prospect near Peixoto de Azevedo, MT has been planned. It is expected that a GeoLogica Sondagen.s diamond drill rig will mobilise to the area in August and commence a drilling program of approximately 1500 to 2000m. A trenching program conducted in 2010 returned significant results over a strike length of approximately 850m as shown in the table 3 below.
***** Results up to 800 G/PT ***** down to 1.7gpt

Expansion of Drill Fleet

In light of the demand outlook for drilling services in South America and specifically for the services offered by Cougar.s drilling businesses, a decision has been made to acquire 1 additional RC drill rig at a cost of approximately US$750,000. The drill rig will be shipped to Uruguay initially and should be operational by October 2011. It will be funded from internal cash-flow.

Additionally the company has purchased components to commence the construction of a further RC machine to service the Brazilian market, to be undertaken at its workshop facility in Uruguay. These components are in the United States and expected to ship to Uruguay mid to late August. The construction will be funded through internal cash flow at an estimated cost of US$500,000.

A decision has also been made by the Group to acquire up to four (4) new surface diamond drill rigs at an aggregate cost of US$1.2M, subject to appropriate financing arrangements. Options for funding of these rigs are currently being evaluated including vendor finance, client advance and local bank support.