From: DetectiveT
CKG UPDATE
Randy called me back less than half hour after I left a message!
1.More Drill Rigs.
In La Gitana they do not have the road network yet to justify a second rig. The road network apparently is the bottleneck. Keep in mind( as JRHANA alluded to) the terrain at LG is very steep and hilly. The weather has been very rainy with some washouts, but now much better. None the less road construction and drill pads in LG has been accelerated.
*Looking at getting a second rig for mid to late Q1 06.*
Good news is that rigs are available in a few weeks unlike a year ago when they were non existent.
2.JVs
Bad weather prevented two parties from coming out to do DD in Oct/Nov. Some DD will now be going on in Dec and Jan by two parties on one of these three properties:Cucaracha Dorada(drill ready now), Cecilia(needs testing, sampling and geophysics all done in next 3or 4 months), Calvera(just needs magnetic surveying done by xmas and then drill ready). I think he said that there is a good chance of a significant JV agreement. He does not want to JV all of these so that he can add blue sky potential for the take over suitor.
Work on these 3 JV possibilities are a second priority after LG. But they all have near term completion dates.
3.Drilling plans
On going drilling at LG.
Regionally the best of Pena Longa?, Santa Maria and Pena Blanca will be drilled in 2006.
4.Early Regional work
EL Volcan- "Really prospective" (I think he said that there was previous primitive mining done here?) but so early and no point in doing a deal(JV?) with little geo. work. Will send 2 or 3 geologists to do some reconnaisance work to identify targets.
EL Pato- more a silver property and "very marketable and will be one of the first to go"( sale? or jv?)
(This may have the primitive mining instead of El Volcan.)
5. Nicaragua
Have 6 properties.
One CKG property SURROUNDS very prospective land whose ownership is in a legal dispute. CKG is waiting for the legal dispute NOT involving CKG (ie between 2 other parties) to get settled first before pursuing this property.
I did not ask about the RBC or BMO seller or the style of news release. Maybe someone else can and post on this.
***Finally Randy welcomed my calls in the future and he said that he would try to return the call with in a day or so. This guy cares enough (and is cheap enough)!)to answer shareholder calls himself.
My take?
Lots happening and lots more significant news in the next few months.
It think shareholders need a bit more patience (several weeks/months) before they will see the start of the next BIG up leg in CKG.
I already own lots of CKG(bought last at 3.80) and will buy more at 3.50 to 3.70 if someone is stupid enough to sell it down there! If you do not own any then at 4$ it is an even better buy now ie less risky and more prospective and more developed then the last time it was at this price in the summer of 2004!
Cheers,
DT
