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lootgaloot
LoL - its good that you can confirm what I said re: Mr Colin Bird. He also said in one earlier interview that money can be potentially found? In particular, I think he meant Australia given that it is a Tier 1 jurisdiction.
2nd thing that attracted me to CCZ is the fact that there is SUPERGENE present. Were it just chalco, then I would NOT be very interested. Supergene usually means higher grade and surface. If it is found deeper, it is hypogene.
Charlie Stephenson in his Jan 2021 broker note from SI Capital said that there is both supergene and hypogene surrounded by low grade halo [recall he used another term and not halo]. Even the low grade is NOT very low. To read, go to Castillo Copper, hover over the Investor icon & click on Analyst reports.
So, hence why 9% is something to SHOUT about. In the Lachlan Fold, NSW, Australia,[hot exploration area] there is NO PRESENCE OF SUPERGENE a/c to the general info. Neither is there supergene in the Paterson Province, WA, Australia wherein one finds 9% cu copper. Even the world class Rio Tinto Winu has grades of 0.45%+ cu copper.
Of course, NOT all is supergene but that does help. Hence, why Capricorn Mine prints 1m supergene separately with core pic - they deem it to be important enough to do so.
In terms of size, Arya is potentially .... Besides Big One and Arya, there are other prospects in the co*s licences nearby. I note that one has supergene potential. Capricorn Mines nearby [or in the belt] had 3 projects in their licence. I expect this may or could be the case here at Castillo but those here longer could perhaps fill us in as to what the CEO said etc from the interviews.
Mister Positive - I hope to be able to find out more about Mount Oxide as that is closer to CCZ*s licence in the same area in Qld, Oz. I am not sure if the fluid [Mr Bird*s term] flowed down to Mt Oxide and Capricorn or the other way round. Its not important but at least we will know if its nearer the Mt Oxide or Capricorn fluid?
I have much to learn about this particular end of the wood in Qld, Australia so hopefully I will find out more. I notice that the Lightfoot prospect, whilst in Qld, Australia produces even far, far lower grades although it is more a gold project rather than just copper. So, Qld*s geology do differ hence why the fluid is of interest for Capricorn, Mt Oxide and CCZ*s area vs the Qld coast where Lightfoot is situated.
News, Tues 27 July 2021
Rushing off so pardon typos.
Some good context @news. I remember watching a youtube video with Colin Bird in which he said that high copper prices will make many of the small/mid size copper mines more attractive. It really stuck in my mind because he pretty much described the profile of Big One in terms of size and proximity to downstream processing. Who am I to disagree with CB.
I'm glad you made the point here because I needed reminding of it. There's a poster on advfn who likes to put down Big One regarding size. It's never bothered me because I believe the Big One is big enough to be commercial and may even provide the cash flow needed to develop Arya.
News.
Like your thinking and Capricorn Mine reference
I do not usually invest in non- porphyries projects. However, in terms of porphyries, it takes time to drill and the exit points are either a sale/buy-out or mine. The capex for porphyries especially Tier 1 are into the billion/s. However, non-porphyries have a shorter time-frame and less demanding in terms of capex. Colin Bird said that the small projects will be mined first. From Glencore*s CEO, the big majors are not keen to start huge mines ie copper unless the copper price goes to US$15,000/t.
On the London market, there are very few co*s to chose from especially those that are going to TRUCK their ore to the nearest processing center. A/c to SI Capital*s broker note [latest available], CZZ*s ore could be trucked. A/c to the Lightfoot project CEO [also in Queensland but nearer the coast], he said that trucking ore saves a lot of money ie into the double digit millions from recall.
Hence, why I am here. As I said the CAPRICORN MINE [copper] is near CCZ*s Big One in Queensland, Australia and I provided the link. The style of reporting appears to be followed by CCZ in reporting 1m high grade seperately. Some co*s draw their charts with such detail from historical that its hard to decipher. CCZ follows the Capricorn style to shade and provide the latest result. Mt Oxide mine is even closer to CCZ*s Big One and that is even more interesting but I have had some problem finding drilling data.
CCZ from recall said that both Big One and Arya will finish drilling in Aug 2021. There are other prospects in the CCZ Qld project.
The Lightfoot project [more gold than copper] further down from CCZ and to the right of the coast has produced a lot of assay results and by contrast CCZ*s results appear to be far, far better from recall.
I am pleased that with SP Angel reporting on CCZ as said yesterday, it is positive going forward given they are London*s leading mining analysts [or one of the leading] for copper etc. Chatter is now more conservative hopefully going forward.
News, Tues 27 July 2021 DYOR.
As per Simon Paul:
"underlying copper system at the Big One Deposit is likely to be larger than our geology team's initial expectations."
Few other snippets.
There is now demonstrable evidence that Copper mineralisation is structural as there is increasing evidence that it potentially extends beyond the trachyte/dacite dyke (refer Figure 3 - cross section for BO_315RC-316RC); and
· The use of geophysics has enabled significantly better targeting and, in turn, delivered drilling and assay results higher than initially anticipated.
Fugure 4 - Table readings are strong and from near surface.
There are several ongoing steps, including:
· Reporting of the assay results for BO_318-27RC which are due back from the laboratory; and
· Finalise logistics, access, cultural heritage, and targets for the drilling campaign at the Arya Prospect.
@MisterPositive, you correctly say “Back in Jan hole 301 had 44 metres @ 1.19% Cu including 14 metres @ 3.55% Cu.”
But this may be why the market was disappointed…
301RC only had a depth of 53 meters (relatively shallow) so today’s assays from 315RC and 316RC examine the same area but to go deeper (80m and 155m) and either side of 301RC (see figure 2 in RNS). The fact that neither hole returned results to match 301RC suggests the high mineralisation that exists in the vicinity between 301RC and 303RC is relatively shallow.
It would have been nice to find wide intercepts at mineralisation above 3% by drilling deeper but we didn’t. This shouldn’t blind us to the potential of the whole project. 317 RC for example found 9 meter intercept at 1.42% and this confirms commercial levels of mineralisation (previously seen from 213RC) to the west along the lode. Future drilling will continue westwards and we are still only at the beginning of the 26 hole campaign.
Another reason for optimism is the Geophys has proven to be a pretty good indicator of mineralisation and has shown a very interesting bedrock conductor in an unexplored region to the north of the line of lode which could be several times bigger than the current area of interest.
Maybe the market was expecting today’s results to be better but I’m still looking at the project as a whole. Taken together, 301RC, 315RC, 316RC and 303RC are a very small (albeit interesting) section of the lode. There is still so much more to be explored.
SP Angel reported on CCZ today relating to last night*s ASX Ann.
It is on Twitter under "#ccz."
I checked the London RNS and SI Capital is the broker - Charlie Stephenson, Geologist for SI Capital did an audio on the results last night.
So, it appears that CCZ has attracted SP Angel*s interest.
Mon, 26 July 2021
Bit of over reaction today by the market i think.
I guess the 1m with 9% Cu came out at the top heading probably out of excitement by the company. Cannot blame them.
But if you look at the overall depth and grades just in todays RNS...every single one been over 1% Cu, some even over 3% Cu.
34 metres and 26 metres thick intervals with visible mineralisation is very significant. We await grades from Assay results.
Overall its looking very good. Back in Jan hole 301 had 44 metres @ 1.19% Cu including 14 metres @ 3.55% Cu.
Mineralisation is increasing and Open at depth.
I would expect a bounce tomorrow once people have another read of the RNS, and previous RNS to get an idea of the much bigger emerging at the BIG ONE deposit.
CAPRICORN MINE
Capricorn had 3 copper projects and the 1st had 22 holes. However, NOT all the holes are listed except those that are 17m & 40m etc with grades from recall. SO, YES, 34M FROM CCZ IS MATERIAL in the reporting of drill intersections. Again, CCZ follows this style of reporting from the same area in Qld, Australia. Out of 22 holes at 1 prospect, only 5 are marked "1M SAMPLE ASSAYS WITH CORE PHOTO*S at 4.13% cu, 11.15% cu etc. So, again CCZ*S 9% COPPER is material given Capricorn lists it specially.
I also tried looking up MT OXIDE WHICH IS EVEN CLOSER TO CCZ but there is not a lot of data on it. Both Mt Oxide & Capricorn as listed as MINES. Mt Oxide is also south of CCZ Castillo.
For those interested SI Capital has produced a broker note dated Jan 2021 and it can be found on the CCZ website. Charlie Stephenson, Geologist is the one who does the notes and last night he produced a audio take on the results from CCZ. So, taken together it updates further the previous note.
Nearology of the 2 mines are of interest ie Capricorn & Mt Oxide in that they do shed light on the geology etc of the area and both EVENTUATED INTO MINES.
Mon, 26 July 2021.
Let's remember these are the first 3 holes of a 28 hole new program and the results are very good. This traded over 4p in December when hits over 40m over 1% cu were announced. Big chance this will happen again at the Big one....
CAPRICORN COPPER MINE, QLD, AUSTRALIA
This is situated south of CCZ*s Big One Copper project, Qld, Australia. I managed to get some of the highlights from the drilling of their various deposits in-situ. ALL the deposits stated 1M drill results specially on the right hand side of their maps with even CORE photo*s.
Capricorn also report on SHELL: 1-1.5% copper and others at 1% copper.
So, it is INDUSTRY STYLE for that part of the woods where CCZ is situated. Capricorn is not a small tiny mine either.
Link: https://www.miningnesfeed.com/reports/annual/CC_FNQ_Aus/MM_Mining_Roundup_05252017.pdf If the link does not work, then type Capricorn Mine - Mining News Feed.
Quoting headline grabbing mineralisation for 1 meter intercepts really is cherry picking and creates distrust. I’d much rather see many intercepts of > 5 meters at 1% mineralisation as this is not only a truer reflection of the ‘Big One’ resource but it is also what investors look for. Nobody cares about the occasional 1 meter here and there; what’s needed is a medium/large resource with average mineralisation above 1% and which forms a continuous minable body.
The ‘Big One’ may never materialise into a big hitter but it can be a commercially viable and profitable short/medium lifespan mine. So far, the resource is getting bigger with each drill and maybe this will become a significant resource. It’s time for management to tone down the hype. The campaign is going very well so far but the bigger picture is getting lost in managements desire to sell the Big One as something it isn’t.
I just can't help thinking that they overdid it with the suspension and 'material news' rns. To me it 34m doesn't seem to be too out of the ordinary, now if it was 34m of 5% or more grades then fair enough. Also today's rns, whilst is positive, probably shouldn't have headlined with the 9%. Just feel like the mkts are a little sceptical at present. Not wanting to sound like a spoil sport but its just my gut feeling. Personally i'm happy with todays rns, hopefully with each drill result, it can firm up the asset being economically viable.
Results from holes 318 and 326 being fast tracked.
Hole 318 - visible mineralisation with 34 metres
Hole 326 - visible mineralisation with 26 metres
Amongst other intercepts. Hole 301 had 44metres
Mineralisation is open down dip. This is shaping up to be a juicy deposit.
Arya (the beast) still to come.
The assay results are pretty average, they have 9% results for 1m which people have clung onto, if you remove that as an anomaly they're actually not that great. The value here though is the overall size of the deposit which appears to be increasing against initial estimate. It's not as if The Big One is our only asset, there's plenty going on here with a fully funded drill programme but you can't expect the share price to fly on the back of every RNS regardless of whether it's actually any good.
@David I agree that whilst the headlines grades are excellent what is missing is continuous decent grades so that CCZ can demonstrate beyond doubt that BO is economic. Thankfully we know that CCZ has completed a decent sized fundraise and has plenty in the tank to see the drilling programme at Big One and Arya through. Whilst 9% Copper grabs the attention the 1m 'continuity' with 1m sample lengths needs clarification.
IMHO what we have seen to date is encouraging and IF part of a larger system may prove to be economic ... this is why CCZ is stressing further drill results due, implied continuity and mineralisation being open at depth hence the lukewarm response.
Next Steps for Big One:
(1) completion of balance drilling programme and assay results
(2) CCZ producing a decent 3d model clearly delineating mineralisation and grade
(3) JORC resource update.
ATB APR
As an investor (rather than a miner) for some years with a number of mining stocks, the latest results in today's RNS are fairly ordinary in isolation so I am not surprised at SP drop. As part of the Big One picture the results are incremental. Further assays are to follow with results in a few weeks - why can't the company give a more specific timeline rather than a vague one? What are the target dates for further assays to be completed and results released? CCZ could be more dynamic in shareholder updates.