I contacted Cove about a minor omission on their web site and took the opportunity to ask them about this, I received this reply on 4/03/2011:
"We are preparing the next phase of our exploration programs at the moment and will advise ASX once we have some definitive outcomes.
We expect the lab results back shortly and will advise ASX if anything material comes of it."
Make of that what you will - I'm more excited about upcoming results from the Carosue project.
I agree that with some more positive news this will kick back to at least the high 30s. It's clearly undervalued, it's just a matter of when the market realises that.
BID Price at posting:
25.0¢ Sentiment: Buy Disclosure: Held