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/4249f581...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/dcea73e7...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/7b65bbe2...CGM-320279.pdf

19 Aug 2006: High Grade Gold-Silver Intersections encountered at Porteira
http://sa.iguana2.com/cache/a825c30a...CGM-328667.pdf

4 Aug 2006: Diggers & Dealers - Company Update
http://sa.iguana2.com/cache/37af256d...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/e0bce683...CGM-331761.pdf

[stolwyk]

18 Aug BROKER ROADSHOW PRESENTATION:
http://stocknessmonster.com/news-his...=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".