No news regarding progression of the higher capacity drill rig. In the past we had regular updates to the point where the company released the results from one hole!! All quiet here until we take up the new share purchase perhaps. On the timber the new rig drilled only two useful holes from ten and now they are looking for another!! Recant rain in Victoria in a big way, wet on top and wet and sandy below and a wet winter forecasted fast approaching – seems to be turning out to be a dud of a summer drilling season. Without good progress news I think we’ll see the lustre come off here a bit as short term holders, such as myself look to northern stocks as drilling season starts and progresses there. My opinion is that I see this stock corrected back over the next 3 to 6 months. They need to complete holes, drill it with the more expensive diamond rig if you have to, but complete the holes!
CYL Price at posting:
53.0¢ Sentiment: None Disclosure: Held
