CGM - Junior Gold Explorer

[kittydashwood]

I like this one. Good people good prospects, tidy balance sheet, and well undervalued ( IMHO .185).

Cougar's price has been falling since IPO to a recent low of .095 cents, currently the share price has risen to .12 ( less than the value of the funds in the bank), all technical indicators are pointing to a change of fortune (DMI crossed upwards last week and OBV has been rising.

This company specialise in re-working historic tenaments and have one of the best exploration teams in WA. With the AGM coming up recent arrivals of big buyers in the depth suggests a couple of positive announcements could be coming......


discl. Have a small holding and looking to accumulate quickly

[kittydashwood]

.14
:)
Although a newly listed company TA seems to start working after about 6mths.

What is the best timerange for resource stocks?

[kittydashwood]

Sudden tide out amongst the buyers despite positive TA and #!@%& to come. Shake down? or just that no one can read a map anymore?
Will buy as many as I can below .15

In a controlled manner of course! Now where are the deeds to the farms?

[kittydashwood]

20 samples in excess of 1oz per tonne from the latest drilling in Cougar's Porteira Brazilian prospect. Full results should make interesting reading.
Anybody else follow this one?

[stolwyk]

CGM: Cougar Metals: http://www.cougarmetals.com.au/

7 April 2005: Brazilian Gold interests
http://sa.iguana2.com/cache/4249f581e1d37ac0148b805e68e87db4/ASX-CGM-286818.pdf

19 July:
Extract:
"Cougar Metals NL (ASX code: CGM) is pleased to announce that it has executed an agreement with the Murrin Murrin Joint Venture participants for the sale of Cougar’s interests in the Toomey Hill & Pyke Hill Nickel Laterite Projects in a deal that will generate $5.05 million in immediate cashflow for Cougar".

http://sa.iguana2.com/cache/dcea73e7ceea6c933c952c6ab6b05094/ASX-CGM-294217.pdf

20 Dec: Brazilian Update: High Grade Gold Assay Results & Drill Rig
Extract: that RC and diamond drilling rigs are scheduled to arrive in Brazil in mid February 2006.

21 April 2006: Drilling commences at Alta Floresta project:
http://sa.iguana2.com/cache/7b65bbe213f4997a446423b5951a0568/ASX-CGM-320279.pdf

19 Aug 2006: High Grade Gold-Silver Intersections encountered at Porteira
http://sa.iguana2.com/cache/a825c30a7e9a1ee9ba5062274d76c7fe/ASX-CGM-328667.pdf

4 Aug 2006: Diggers & Dealers - Company Update
http://sa.iguana2.com/cache/37af256d6e27a5497dd1c5711046ee7e/ASX-CGM-330621.pdf

Extract:
Shares: 44.5 mill
27.8 mill listed options, Dec 31, 2006 @25 cents.

9.1 mill pp shares
9 mill unlist. options

30 June 2006: Cash 1.7 mill

CGM expects to receive $6.95 mill from option conversion in Dec and $1.13 mill from pp shares early 2007

Gerry
Holds CGM options
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

http://www.cougarmetals.com.au/

From latest Quarterly Report:
"The assay laboratory is attempting to assist as far as possible and is sending the assay pulps to Lima instead of Vancouver. However, turnaround times are expected to remain at or above four weeks after receipt of the samples by the laboratory".

They also say that their drilling announcement concerns only 30% of drilling results sofar.

Hence further drilling results can be expected any time without warning.

There are plenty of high grade deposits. From latest quarterly report:
"To date, Cougar has identified 29 highgrade, high-priority targets within the project area that have returned grab sample assays exceeding 30g/t Au".

RC Drilling Moves to Basilio
"Following completion of RC programs at the Porteira Prospect, Cougar moved the RC rig to the high-grade Basilio Prospect.
The Basilio Prospect is located near the town of Novo Mundo 40km north-west of Peixoto.
This is the second target selected by Cougar for drill testing. Assays from grab sampling of quartz-sulphide mineralisation on dumps returned values of up to 156g/t (5.0oz/t) Au, 756g/t (24.3oz/t) Ag and 11.1% Cu".


New Tenements Granted
"During the quarter, two new exploration tenements were granted to Cougar’s Brazilian subsidiary company, covering a combined area of 193.85km2.
Tenement 867334/05 covers 100km2 and is located in the Apiacas group of tenements in the west of the Alta Floresta Project area.
With the exception of one recently lodged tenement application, all the tenements in this area have now been granted. The total area within the seven granted tenements held by Cougar in Apiacas is now 577km2".

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

High-Grade Gold Intersections at Second Brazilian Prospect

HIGH-GRADE GOLD INTERSECTIONS ENCOUNTERED AT SECOND BRAZILIAN DRILLING PROSPECT

Extract:
"Cougar Metals NL (ASX code: CGM) is pleased to announce that high-grade gold assays with silver and copper credits have been returned from several of the first eight RC drill holes completed at the Basilio Prospect in Brazil, the second of Cougar’s prospects to be drilled at the Alta Floresta Project.

The best results include:
8m @ 12.8g/t Au & 0.57% Cu from 42m in hole BARC008 including 3m @ 17.7g/t Au & 1.06% Cu from 43m and 1m @ 23.3g/t Au, 10.4g/t Ag & 0.57% Cu from 48m.

5m @ 7.9g/t Au & 1.09% Cu from 47m in hole BARC004 including 2m @ 17.3g/t Au , 16.8g/t Ag & 1.73% Cu from 48m; and

2m @ 11.4g/t Au, 132.0g/t Ag & 1.21% Cu from 41m in hole BARC003 including 1m @ 20.8g/t Au, 251.0g/t Ag & 1.86% Cu from 42m.

The latest results follow the high-grade gold and silver assays announced for the Porteira Prospect, the first prospect drilled by Cougar at the Alta Floresta Project and where diamond drilling is currently continuing.

The mineralisation intersected at Basilio is of greater width than the veins encountered at Porteira and both prospects now demonstrate that the near surface vein material continues to depth. Mineralisation of this grade and thickness and at this shallow depth may be amenable to open-cut mining operations.

The Basilio Prospect is located near the town of Novo Mundo 40km north-west of Peixoto. Bonanza grades of gold with silver and copper have been reported from a 60m long core zone, up to 5m wide, within a vein system 200m long.

These grades were supported by recent grab sampling of quartzsulphide mineralisation, which returned values of up to 156g/t (5.0oz/t) gold, 756g/t (24.3oz/t) silver and 11.1% copper.

The Basilio Prospect is the second target drilled of 29 high-grade, high-priority targets identified to date by Cougar within the Alta Floresta Project.

A total of 17 RC holes for 1,391m were completed as part of the initial RC program at the Basilio Prospect (one as a diamond hole precollar). Significant RC drilling results from the first eight holes are set out in Annexure A. The majority of the holes centred on an 80m strike length and intersected an apparently continuous lode of quartz-sulphide mineralisation, which consists of pyrite, chalcopyrite and lesser bornite, with quartz, chlorite and sericite. The width has varied from 1m to 8m, with higher sulphide content found in the wider intersections.

The mineralisation remains open in all directions but is strongest to the west on this east-west striking prospect.

Assay results from the remaining RC holes are expected to be received towards the end of August.

Diamond core drilling will commence at Basilio within the next few weeks. Cougar is very encouraged by the fact that high-grade gold intersections have been returned from the very first two prospects drilled at the Alta Floresta Project.

Up to six additional high-grade prospects are expected to be drilled by the end of the year. RC drilling commenced this week at the Uniao Prospect, where 21 grab samples taken by Cougar produced assay results averaging 46.1g/t Au".

COMMENT: This could be shaping up big IMHO.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

The MD's first objective: raising the share price.

From their quarterly report:
There are plenty of high grade deposits. From latest quarterly report:
"To date, Cougar has identified 29 highgrade, high-priority targets within the project area that have returned grab sample assays exceeding 30g/t Au".


Sofar, they have partially drilled the high grade Porteira prospect and fine results have come in from their Basilio Prospect: These are discussed in this thread.

Extract from Announcement: 11 Aug 2006:
"Up to six additional high-grade prospects are expected to be drilled by the end of the year. RC drilling commenced this week at the Uniao Prospect, where 21 grab samples taken by Cougar produced assay results averaging 46.1g/t Au".

Discussion.
MC is operating one RC and one Diamond drill, both owned by CGM. Without having to resort to contracts, this enables them to jump quickly from one prospect to another, preliminary prove high grades and complete a number of projects, then prepare a Jorc assessment by going back to where they started and finish the drilling as Probing pointed out.

They also hired another Diamond drill and the contractor will most likely follow these deposits as agreed to.

++++++++++++++++++++++++++++++++++++++++++++++++

Comment:
There is a big difference between drilling the first project completely and the much faster preliminary drilling by hopping quickly from one deposit to another.

Completing the first one or two means that the share price could rise slowly. Hopping from one deposit to another and by partially drilling a number of high grade assets strengthen confidence and could make the share price rise faster, a point overlooked by many posters but not by the MD Randall Swick who after all engineered it on purpose.

Add to that that he has stopped spending in the Cue field in Australia and offered it to interested parties and is preparing the promising Pyke hill nickel resource for sale.

Has cash till Dec, will receive $6.95 mill for option conversion and $1.13 mill early in the new year from pp shares conversion.

It is clear that Swick not only acts fast thereby reducing overall Management expenditure and proving up high grade resources at the earliest opportunity but is working according to a well thought out strategy.

Prospective investors could pay more later once the goodies start appearing: more drilling results before end of this month according to Swick.

As to the gold price, first they are some distance away from mining and I don't think that high grade resources are too sensitive to a difference of say $50 in the gold price. Lesser stocks would.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.

[stolwyk]

High-Grade Gold-Silver in Initial Porteira Diamond Results.

http://sa.iguana2.com/cache/e0bce683e8919a3eef45c3af427ce9c3/ASX-CGM-331761.pdf

[stolwyk]

18 Aug BROKER ROADSHOW PRESENTATION:
http://stocknessmonster.com/news-history?S=CGM&E=ASX&Year=2006

Extracts:

"PORTEIRA - RC DRILLING RC DRILLING
#56256;#56457;Initial drilling completed -31 RC holes (2,302m) & 43 Aircore holes (1,458m).
#56256;#56457;Drill assays received to date have returned high-grade gold and silver.
#56256;#56457;Confirms understanding that veins only partially & shallowly exploited".

SECOND DRILL TARGET SECOND DRILL TARGET - BASILIO BASILIO
#56256;#56457;High-grade granted target 40km north-west of Peixoto near Nova Mundo.#56256;#56457;~200m of reported strike from past shallow garimpeiro workings.
#56256;#56457;High-grade area ~80m long (minimum) by up to 5m wide.
#56256;#56457;Grab sampling assays of up to 156g/t Au, 756g/t Ag & 11.1% Cu.
#56256;#56457;Strong potential for delineating high-grade primary quartz-sulphide veins.


THIRD DRILL TARGET THIRD DRILL TARGET - UNIAO UNIAO
#56256;#56457;High-grade granted target located 60km south-east of Peixoto.
#56256;#56457;+600m of indicated strike from past shallow garimpeiro workings.
#56256;#56457;Grab sampling assays averaged 46.1g/t Au from 21 samples.
#56256;#56457;Highest grab sample assay of 202g/t Au.
#56256;#56457;RC drilling has commenced. Diamond drilling to commence late August.
#56256;#56457;High sulphides visible in early RC samples.
#56256;#56457;Strong potential for delineating high-grade primary quartz-sulphide veins.


FOURTH DRILL TARGET FOURTH DRILL TARGET - PORT ABERTA PORT ABERTA
#56256;#56457;High-grade granted target located 170km north-west of Peixoto at Paranaita.
#56256;#56457;Eight garimpeiro open pits along a structural corridor 2km in length.
#56256;#56457;Highest grab sample assay taken within project to date of 397g/tAu.
#56256;#56457;RC drilling to commence in September.#56256;#56457;Strong potential for delineating high-grade primary quartz-sulphide veins.


ALTA FLORESTA ALTA FLORESTA - NEXT 6 MONTHS
#56256;#56457;On-going RC & diamond drilling at Porteira, Basilio & Uniao Prospects.
#56256;#56457;Commencement of RC & diamond drilling at Port Aberta Prospect.
#56256;#56457;Drilling at up to four of the remaining high-grade, high-priority targets.
#56256;#56457;15,000m of RC drilling & 6,000m of diamond drilling expected in CY06.
#56256;#56457;Continuous flow of drill assays throughout remainder of CY06.
#56256;#56457;Evaluation of airborne magnetic & radiometric survey flown in August 06.
#56256;#56457;Aiming for initial resources by end of CY06.


WHY INVEST IN COUGAR?
#56256;#56457;Outstanding potential of Alta Floresta, with +30 high-grade targets (+30g/t Au).
#56256;#56457;Target #1 has delivered high-grade gold assays with Ag/Cu credits.
#56256;#56457;Target #2 has delivered high-grade gold assays with Ag/Cu credits.
#56256;#56457;Target #3 expected to deliver high-grade assay results.
#56256;#56457;Continuous drilling & release of assay results will maintain market interest.
#56256;#56457;Tightly held stock with ~530 FPO shareholders. Market cap of less than A$18m.
Great exposure to exploration success".

[stolwyk]

Further High-Grade Gold Intersections at Basilio

http://sa.iguana2.com/cache/df9882d8a28ac6a26cece3b01f4239bc/ASX-CGM-332145.pdf

[stolwyk]

ASX ANNOUNCEMENT - 25 August 2006 No. of Pages: 1
GEOPHYSICAL SURVEY COMPLETED WITHIN ALTA FLORESTA PROJECT
"Cougar Metals NL (ASX code: CGM) is pleased to announce that an airborne magnetic and radiometric survey has been completed over four areas within the Alta Floresta project in Brazil.

Evaluation of the resulting data is expected to assist in developing a better understanding of known prospects and in the identification of additional prospective structures and targets within the project area.

The detailed airborne magnetic and radiometric survey was flown by international geophysical consultancy firm Fugro earlier this month over four areas covering approximately 100km2 each within the Peixoto and Paranaita Tenement Districts.

These areas contain some of the more advanced
prospects within the Alta Floresta Project, including the Porteira, Basilio, Uniao and Port Aberta Prospects. Initial assay results from drilling at the Porteira and Basilio Prospects have confirmed the high-grade nature of gold mineralisation within the Alta Floresta region.

The survey will aid Cougar’s geologists in gaining a better understanding of the region’s geology and
structure, as well as in identifying the geophysical signature associated with known vein systems.

It will also assist in the identification of additional prospective structures and targets within the project
area that could potentially host significant gold mineralisation. Final images are expected to be received towards the middle of September, however, the preliminary images already received have defined a number of new prospective structures which will require field investigation"

[kittydashwood]

Ok. I am starting to get very excited.

Which is unusual. There must be majors looking over this way soon. Maybe a major with existing interests and infrastructure in Brazil. I think Cougar should start to assest swap their way to a more production orientated phase.

This is a very big reading now will the government allow the recovery. Alta Floresta has been the focus of some antimining protest, mainly aimed at the locals recovery methods which consist of shifting through the tailings and heating up the cyanide in a old spam tin. After the gold is extracted the renaments are poured into the dirt creating a serious regional problem. If Cougar can get in and clean up, provide jobs and correctly manage the environmental impacts....

[stolwyk]

High-Grade Gold & Silver confirmed in Uniao RC drilling

http://sa.iguana2.com/cache/8410686153470419a1353c6b3b66e486/ASX-CGM-333573.pdf

Extract:
"A total of 27 RC holes (1,406m) were drilled as part of the initial RC program at the Uniao Prospect, aiming to test several different targets identified by Cougar geologists.

Six of the 27 holes were drilled as diamond drillhole precollars. Results have been returned from the first 17 holes only.

The initial RC drilling at the prospect has intersected high-grade gold and silver grades in apparent multiple zones of mineralisation. The results continue the early drilling success at the Alta Floresta Project, with all three of the prospects tested to date, Porteira, Basilio and Uniao, returning high-grade gold and silver results.

Cougar has more than 30 additional high-grade prospects within the Alta Floresta Project".

"Diamond drilling has commenced at Uniao, with one hole completed and a second in progress. The first hole intersected three quartz-sulphide veins, the best of which was 2m wide and contained approximately 20% sulphide (visual estimate)".

COMMENT: A very high-grade venture IMHO. Expect Announcements at any time!

[kittydashwood]

Most of the drilling done Gerry time to consolidate.
Won't be boring insiders could have moved their price target up;)
removing supply

[stolwyk]

High-Grade Diamond Core Assays for Uniao & Porteira

http://sa.iguana2.com/cache/b12ad40bd39e59ff0b54d703f75f6750/ASX-CGM-336874.pdf

Extract:
"Initial RC Drilling Program Commences at the Port Aberta Prospect Late last week, an initial RC drilling program commenced at the Port Aberta Prospect, a granted tenement located 170km north-west of Peixoto in the Paranaita tenement district.

The Company has identified up to eight garimpeiro open pit workings along what is thought to be a 2km long structural corridor at the prospect. The initial RC program will consist of more than 20 RC holes.

Granting of New Tenements
Two more exploration tenements were granted to Cougar’s Brazilian subsidiary in September, with one tenement covering 87km2 adjacent to the Novo Mundo townsite 40km north-west of Peixoto, and the other covering 57km2 located in the Paranaita tenement district.

The total area of tenements now granted to Cougar within the Alta Floresta Project area is 1,368km2".

[stolwyk]

Annual Report


http://sa.iguana2.com/cache/27e7351ed9ee7e354b384bf18f31c9a7/ASX-CGM-337040.pdf

[kittydashwood]

Where do you value the options at Gerry, i am holding to convert but wonder when I should do this?

[stolwyk]

Drilling started at Port Alberta.

I am waiting till we get those results out first.


Gerry

[stolwyk]

First quarterly activities:

Drilling Underway at Alta Floresta During the quarter, the Company conducted drilling programs at a total of five high-priority prospects - Porteira, Basilio, Uniao, Pe Zao and Queiroz.

In addition, the Company commenced RC drilling at the Port Aberta Prospect in the Paranaita tenement district. Diamond drilling is continuing at Uniao and Queiroz.

#56256;#56457; High-Grade Results from Drilling During the quarter, Cougar received high-grade gold assays from drilling at the first three prospects drilled - Porteira, Basilio and Uniao. RC drilling at the Porteira Prospect returned 2m @ 32.6g/t Au & & 22.6g/t Ag and individual 1m intersections including 46.9g/t Au & 24.3g/t Ag, 27.2g/t Au and 21.6 g/t Au. Diamond core drilling at the Porteira Prospect returned intersections including 33.8g/t Au and 19.9g/t Au, both over 0.85m. RC drilling at the Basilio Prospect returned intersections of: • 11m @ 10.4g/t Au, 3.5g/t Ag & 0.46% Cu; • 5m @ 7.9g/t Au & 1.09% Cu; and • 4m @ 22.7g/t Au, 67.5g/t Ag & 1.12% Cu. RC drilling at the Uniao Prospect returned individual 1m intersections of up to 39.4g/t Au & 184g/t Ag (5.9oz/t), in addition to wider intervals of lower grade mineralisation including 16m @ 3.4g/t Au & 9.0g/t Ag.

SUBSEQUENT EVENTS
Subsequent to the end of the quarter, Cougar announced further high-grade assays from diamond core drilling for the Uniao and Porteira Prospects. The best core intersection at Uniao was 2m @ 60.9g/t Au, 186.0g/t Ag & 2.26% Zn incl. 1.27m @ 80.8g/t Au, 133.0g/t Ag & 2.92% Zn. The best core intersection at Porteira was 0.89m @ 19.61g/t Au & 5.2g/t Ag incl. 0.37m @ 44.1g/t Au & 9.6g/t Ag.

"At the end of the quarter, Cougar commenced an initial RC drilling program at the Port Aberta Prospect, a granted tenement located 170km north-west of Peixoto in the Paranaita tenement district. The Port Aberta Prospect is the sixth target to be drilled.

The Company has identified eight garimpeiro open pit workings along what is thought to be a 2km long structural corridor at the prospect. As a result of positive signs from the early holes drilled, the initial RC program is now expected to consist of more than 30 RC holes".

"Pyke Hill: Cougar intends to continue working towards drilling out the high-grade laterite nickel-cobalt mineralisation at the project and progress the Resource towards Measured Status".

[stolwyk]

AMEC Presentation Inclusive of Recent High Grade Assays (15.8 MB):

http://sa.iguana2.com/cache/7a29f5c4d60c3f1eb38c42402b4a7d88/ASX-CGM-340889.pdf

[stolwyk]

Further High Grade Gold Assays from Alta Floresta Project

http://sa.iguana2.com/cache/6bf9c57fbdb490c04172915c943b0bd8/ASX-CGM-343536.pdf

[Pachino]

Been a long time since this had any postings, but is definatly worth looking at now.
I won't add much today but recomend you all do some research on it this weekend. There is a nice suprise sitting there, check thier last ann and do the sums.
3 cps is a bargan IMO but you decide.

[macduffy]

This one's a bit of a puzzle to me. It's nearly seven years since the first posting on CGM and since then there's been a fair bit of drilling of the South American prospects, encouraging results, but no JORC resource yet. Now they're into trial mining at the Ze Vermelho prospect and recovering some gold - $1m worth in the last quarter.

CGM also have a small contract drilling business in South America, not surprising perhaps as the Swick family of Swick Mining Services - SWK - appear to be in charge at CGM. Randall Swick is chairman and Rosanne Swick is (presumably) a shareholder and has lent CGM $650,000 as at 31 March 2011. Revenues from the mining services business appear to be funding the exploration drilling to a large degree.

The SP's been trending nicely upwards since the last quarterly report but no other announcements have been made since then so it's a bit difficult to "do the sums".

I assume you're holding here, Pachino?

[Pachino]

Morning McD, Yes I got in the other day @.028, liked what I saw. Drilling started in May so results are due, 4th Q due in a few weeks, aparently in the same vein as last. These guys are generating good income, bonanza grades gold, and also have several rigs out on contracts. Last Q saw them retire $1.8mil debt, Returned hire machinery and replacements bought. They have recovered only 40% gold from mining, which leaves 60% in tailings still to be processed, which they hope will happen next Q.

[Pachino]

CGM
Cougar is in breakout and is running well, roumour of good drill results

[Pachino]

A lot of buying pressure building up, Anyone following this ?
Up 12.5% today thus far

[trackers]

Nice work Pachino. Ran the ruler over this in the weekend and really liked what I saw (bonanza grade gold project funded by drilling services on the side), but not enough communication and newsflow for me

[Pachino]

Hi Trackers, Rumour is drill results are imminent and very good, which doesn't suprise me, but ATM it is roumur. Q4 results due in a few weeks then end year summary, so I am looking forward to this. Sums on another forum suggests that if Q4 ann follows same line as last, a re-rating around 10cps is in order, so plenty room in this. One poster has been intouch with the Co and word is on track with last ann. Also if they have been cleaning the tailings this will increase income dramaticly

[macduffy]

Yes, well done Pachino!

Like trackers, I didn't feel that there was enough info in the public domain to take a punt but clearly there's either been a well planted rumour or the good ship Cougar is leaking badly!

[Pachino]

Cheers.........I like to think the ship doesn't leak but the radar is switched on to good value. 6cps is my ST pick as with others.

[Pachino]

Doing well again today after a morning pull back but now hitting new highs into the 4's

[Pachino]

Anyone watching this today, this is flying now........10cps anticipated target

[trackers]

Yep she's absolutely cranking... 50% in a couple days, nice going!

[soulman]

Doing well again today after a morning pull back but now hitting new highs into the 4's

Thanks for the heads up Pachino. Made a tidy sum in 24 hours. I guess this stock is now in traders hand no matter how good the FA and TA are. Traders will dictate where CGM goes from now and I might have sold too prematurely.

You must be enjoying this Pachino. Good insight in your post on the 25th.

[Pachino]

Youre welcome soulman
Wow! only picked up on this last thursday wish I bought more, got in at 2.8

[trackers]

Continuing to dominate, well done guys

[Pachino]

The Cougar is in full flight again

[soulman]

Still holding for more Pachino? Lucky to ride it again from 4.9 to 5.8.

Seeing a stock doubled in 2 weeks is unbelievable. Like I say before, it's up to traders to see this through the end.

[Pachino]

Soulman yes this is an amazing stock, but still a long way to go yet.
Another very nice run today and with another 2 -1/2hrs of trading I think we will see a strong finish. Looking to see new highs over the next week.

[soulman]

Yep, this CGM is powering along but a late retreat says something about the power of momentum and day trading manipulation. Got another win with CGM today.

I will take a back seat now and seeing the chart, a drop off is more than likely in the next 2 trading days.

[Pachino]

CGM on its next leg up, target pre ann 10/11cps but DYOR

[drillfix]

Pachino...lol

There has been a bounce @ 5.2c sure, but why exactly do you believe this stock is on the next leg up?

Why is it that some people think that stocks just keep going up & up & up and up without actually taking a breather for more than 2 days?

IMO, be careful Pachino because stocks that do moves like this usually end up come crashing back down again, check out CEO as an example today.

I know the stock maybe surely worth whatever you believe it to be, but honestly, a gradual increasing chart beats a choppy sky scrapper chart any day.

Sure hope you are doing ok with this, but dont forget about taking some profits along the way is the long of the short of it. :)

[Pachino]

Thanks Drillfix, have been scalping along the way.
Here's a bit of a run down on Cougar.
A snippit from last ann;

The mean grade for eight channel samples from -64 m level was 87.4 g/t of gold, indicating
that gravity processing is recovering less than 40% of the contained gold. The tails related to
the processing material at -64 m level are expected to contain greater than 50 g/t of gold.
Approximately 1,000 t of tails are stockpiled on site for near-future cyanidation processing.

Ze Vermelho continues to be self funding with gold sales meeting all operating and capital
expenditure requirements.
Construction of a gold room and explosives magazines has been completed. Crushers,
impactors, generators and other equipment have been purchased to replace equipment
previously on hire. Construction of cyanidation ponds and the treatment circuit is expected to
recommence in May when the rainfall subsides. It is expected that cyanidation can commence
in late July.

Last week ann
With a turnover in FY11 in the vicinity of $20 million and an expectation that this should increase significantly in FY12 and return strong profitability, Cougar's South American drilling businesses are substantial businesses which I suspect are not well understood by investors. One of my initial priorities will be to rectify this. Mr Fry said.
As excited as I am about the drilling business, my initial view is that it is the Brazilian gold exploration business which provides the greatest upside for investors. My understanding from the geology team is that much of the most prospective ground has only been granted in the last 18 months and the challenge will be to properly and systematically explore the many targets that have been prioritised by the geological team. The Ze Vermelho prospect is currently generating strong positive cash-flows from trial mining as part of a program to delineate the extent and grade of mineralisation. If the Ze Vermelho prospect is able to continue to provide these strong cash-flows into the future this will go a long way towards funding the exploration program. With a history of considerable alluvial gold production in the area confidence is high amongst the geological team that the region will be successful for the Company, added Mr Fry.

[soulman]

Coming along again. Lucky to pick up a few for 6.4 on Friday last week after noticing buyers demand during late afternoon.

Traders playing CGM like a license to print money.

[Pachino]

Bonanza gold grades; Q4 ann

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).

[soulman]

Lucky I exited on the 26th for 7.8. Gee, I wonder why would they lift the halt 15 mins before the market closed on Fri. It would be better to announce it after the market closed.

Looks like a bad reception or traders was not on screen when they resume trading. I was not aware of it either until you post Pachino.

[soulman]

OK then, traders are back in town for CGM and pushed this near 10 cents. Can't see the fuss in their quarterlies but hey, what do I know.

Well done Pachino.