The future of Cardigan Castle is on a knife edge.

After decades of neglect, the 12th century castle and Grade II* listed Regency mansion looked set to crumble into oblivion.

But in October 2001, the Tivy-Side launched the Castle in Crisis campaign which promised a reversal of fortunes for what had once been the jewel in the town's crown.

Eighteen long months on, there at last seems to be light at the end of the tunnel

Castle owner Barbara Wood is prepared to enter into new talks with the county council.

And the castle, which went on the market with Cardigan estate agents Fred Rees and Son over a year ago, has had its asking price slashed from an astronomic £1.25m to £500,000.

Miss Wood's representative, local haulier Brian Rees, said last week that he was not prepared to drop the price any further.

"It's about time the council got its act together before it loses the castle. Once they buy it they have got it forever."

Negotiations between the council and Mr Rees have been hampered by differing ideas of how much the site is worth.

The council's initial offer of £120,000 was turned down by Miss Wood.

The authority then decided to impose a compulsory purchase order on the property - a long and costly legal procedure.

Mr Rees repeated his wish - last made a year ago - that he wanted the council or a Welshman to buy it.

"It has been on the market for over a year now. The council is dragging its feet. We want to sell but we are not selling for just £120,000."

Castle campaigners are anxious for the council to clinch a deal as soon as possible.

The castle and the mansion are still exposed to the ravages of the weather.

Time is now running out and - as the above picture illustrates - the past 20 years have seen a speeding up of the dereliction and decay.

A worried castle working group chairman Glen Johnson said this week: "How much longer can we afford to wait? If Cardigan Castle doesn't come into public ownership soon, the 900 year history of this nationally important monument will end with the present generation."