Patrick,
In response to your concerns about the Liberty Bell mine, company insiders are now saying that a deal to acquire 100% of this low-cost, 250,000-ounce-plus gold deposit is imminent.
And with the price of gold beginning to show early signs of recovery (based party on speculation that European Community member nations will indeed opt to use their gold reserves to back the soon to be implemented EMU common currency), the Liberty Bell mine will, no doubt, soon prove to be a very valuable asset to CYR.
I'm intrigued by your view that CYR's relatively low volume earlier this week was a sign that people knew drilling would be suspended by the Alberta government. Maybe, that's why some investors did choose to remain on the sidelines.
Certainly insiders say they were taken by surprise and I'd have to take their word for it. After all, it doesn't make sense from a cost perspective and from a promotional standpoint to commence a drill program that's going to be shut down almost immediately.
Apparently, spring break-up came a little early this year, which presumably accounts for why CYR was caught a little off-balance. It's a little ironic that all the bad luck we've suffered in spec. mining stocks has now been compounded by unseasonably warm weather in Alberta caused by..... you guessed it ......El 'damned' Nino. Who ever said life was fair?
On the plus side, the delay should be short-lived and CYR still has some pretty good targets left to drill. So,we can all uncross our fingers and wait it out for a couple of weeks. Then, we'll have to hope for some long-overdue luck.
All the best, Simon |
