I recently had a conversation with Wally. That's Wally Baker, my neighbour. He had some thoughts on Lion.
We haven't had any results from Banana Creek likely because we haven't hit anything yet. The rigs can't go deep enough. If there had been outstanding results they would have been released by now. They are likely to move one of the deep rigs there soon which increase the likelihood of good results.
Here's an example of trying to save a dollar by converting the U/G rig to surface ends up backfiring. We could be drilling underground right now. Hmmm I wonder who was trying to save a dollar? Don't get me started.
Hopefully results from the holes the deep rigs are drilling now should be out before the end of the year. The chances of good results are high.
So there you go. For myself I bought myself some more Lion last week for under a 1.50. Can't go wrong I figure since the news flow should really pick up in Q1 resulting in a increased share price. Under a 1.50 will look good.