The authors of 2 stock subscriptions I recieve, (Peter Strachan of Stock Analysis and Warrick Grigor of Far East Capital) have in the fine print and disclaimers a disclosure of what stocks they own, I saw the likes of TAP ARQ ROC MCR SMY PDN and so on and then I saw CYL,
I thought what the heck is CYL? I did a little digging a discovered that CYL is a molybedum focused company which is targeting a 20-40Mt deposit grading 0.09% Moly at Minnie Springs (See the Far East Capital Research Report for more info)
They are doing a 1:2 rights opie @ 1c for 20c 31/12/08 opies.
I basically jumped on this stock because I found it strange that these two savvy industry operators where both backing a $6m company in their portfolios amongst the likes of ROC, TAP, ARQ, HDR, EXR etc, but then they both backed GDN, what made me even more curious was the fact that they both didn’t mention the stocks to their subscribers, ie only saw it because I always check to see what the are holding in the tiny fine print,
Historical intercepts are between 0.03-0.1%Moly for intersection of 61m-174m, so I think they are really on to something here
CYL has about $2.5m in cash so plenty to firm up a resource
Has 30m shares on issue
@ 30c Mkt Cap =$9m
I reckon its a winner and I’m in for the ride, recent surface samples and assays have increased the confidence
See attached CYL report for more info
