The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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In this link if you see the key on the map on page four it states the lighter shaded red as ‘application tenement’ maybe it’s something to do with this one?
Hi loot - my thoughts are similar to yours about the need for entirely new projects, but let's see what these options relate to. Will be looking out for the announcement on ASX tonight.
@Legalwolf, you may be correct as the best map I can get of the tenement is on page 4 on this report...
https://castillocopper.com/wp-content/uploads/2021/02/CCZ-SI-Capital-11.01.21.pdf
It shows Big One (Historic Deposit) located well within the tenement, about 6km from the boundary from my reckoning. Current drilling campaign extends westwards for 2.2km; so it's a bit of a stretch to say we have reached near to the boundary.
Who knows what will be announced around midnight tonight (Wednesday morning in Australia). All I know is the acquisition of more mining licences has come out of left field and not entirely welcome in my view. If these are new licences unrelated to existing projects then the board needs to justify the Broken Hill IPO and why the Cangai mine is still waiting for development.
So far progress has been very slow, I would have thought extra licences is the last thing we need.
As mentioned before, I think other to be mentioned projects, be covered for lame results from the big one. Only results from Arya. Will make or break the share price.
Don't the current licences extend well beyond the the current drilling of the targets at Big One and Arya? If so, not sure how
current drilling will have pointed to a larger resource and which extends beyond the current licence area around Big One.
It might be different at Ayra.
Lootgaloot
Like your thought process. Very plausible.
Should find out soon.
CCZ is undervalued. Not much is priced in yet.
Market waiting for sone juicy news.
I must admit I was initially disappointed with the latest RNS. Especially as it wasn't the assay results we were expecting. On reflection, I'm now inclined towards a more optimistic view. Firstly, the key word in the RNS is 'option'. This suggests Castillo can CHOOSE to acquire the exploration projects depending on certain conditions/events/results.
So here's my wild theory and I only have until Wednesday to find out how close I am to the truth. I believe the delay to Big One assays is because the results are part of a bigger announcement. In other words, drilling has indicated a larger resource which extends beyond the current licence and into adjacent land. It therefore makes sense to acquire an option on the neighbouring licence.
If the exploration projects are in some far flung location, unrelated to current projects, then why not just purchase the licence if that's what the board believe is best. An option only makes sense in the context of a current project which has demonstrated potential and which may need further drilling next year to confirm.
This is not only my best guess but it is my preferred outcome. I really don't see the sense in further licences. What does that say to the market about the Broken Hill IPO? You're basically saying we got rid of Broken Hill because we don't believe it's as good as our two new licences. How would the market react to that?
Gino, I was thinking the same. Hopefully we're both proved wrong and we're just cynical people;-)
I would not mind CCZ getting into another ARYA type deposit here.
That would be excellent news, especially if you can get it on the cheap.
Value should grow substantially on different fronts.
Zambia prospects will be on top. Update due there also.
Bought back in after re-balancing portfolio.
The cynic in me wonders if the news of this option is to cover some not so exciting assay results.
Sincerely hope not. News today or tomorrow then.