>>That is not a bad idea. Have the holes on the bottom and have some type of board to press it down on top to wring the water out. If the holes are too big, some coconut fiber will escape.
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If the holes are too big... get some of the soft fiberglass window screen.. cut two pieces and fit them into the bottom before putting the coco fiber into the can. It will still allow drainage, but also do a better job of stopping bits from escaping and making a mess
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PHWyvern