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Reason being the news flow has dried up,i was expecting the drilling to have started by now.From a good profit im at a slight lose now,patience is key
This SP has been a bit disappointing the last week or so. Hope it doesn't drop much further
I don’t think Zambia will have a material effect on the share price; up or down. The BOD have enough on their hands with Mt Oxide. I think they’ll keep Zambia ticking along with minimal investment; things would have to go very badly in Oz before Zambia becomes a focus.
I’m not sure why you have such a downer on Cangai. It’s a proven historical resource having produced 5,000 tonnes of copper (as well as gold and silver) with just a pick and shovel. The drilling tests by the previous owners were done in the wrong location and CCZ has reported excellent mineralisation from their drilling cores.
When CCZ listed in London they openly stated that they are looking for a partner to progress the Cangai resource. That was only last year; it’s a little soon to say they have f***** up. The plan hasn’t changed and there is no reason to suspect that they wont find a partner. It may not happen tomorrow but later this year? next year? Let’s wait and see.
I agree that there seems to be a lack of engineering/mining experience in the BOD. The environmental issues at Cangai were a learning experience and I am pleased that management are now looking for a more experienced partner. I suspect they will also look to partner with a more experienced miner if/when they have proven the Mt Oxide resource.
The focus for now, and what’s going to move the share price, are the drilling campaign and JORC for Mt Oxide. I hope the Big One is a big enough resource to be commercial and we will get our answer pretty soon. Any talk of Zambia or Cangai misses to point imo.
If relevant my decision was taken a while back, i.e. reduced a modest holding @ circa 3.60p and retained the balance. My Oz geologist acquaintance, who knows Gunpowder and Mt Oxide, unsettled me when he dumped all of his stake substituting it for an Au startup in WA. I think he was miffed with the Cangai ****up.
Chilean withdrawal suggested (to me anyway) that the BoD such as it is are not really hands-on and none of them have mine engineering credentials. The Zambian thread has possibilities but sitting in Perth or wherever is not exactly being on the job. Zambia is an unforgiving jurisdiction. If there is no one on the ground the very least requirement is to have a heavy hitter in, say, Sandton, Jhb.
Someone like Apro may offer better balance. He has certainly examined the Roan group, Domes, Solwezi, etc and is a fairer critic than I.
Bon chance, mon ami.
Very interesting video @viable. I'm glad I watched. It hasn't put me off CCZ but it's given me plenty to think about. I was thinking I may be a bit over exposed and the video was a timely reminder that CCZ is very speculative. I needed the reality check. Thanks.
I'm also in Aussie copper/gold Explorer Rincon that IPO'd in Dec-20 dropping from 0.49c to 0.19c at its worst on no news over rainy season. They announced exploration start 26-Apr-20 @0.26c and bounced up 30% over the week to 0.34c yesterday.
All about newsflow for these junior explorers
ATB APR
Sp drifting because their is no news yet of drilling start,hopefully soon.
viable, what was your decision re Mt Oxide? I've watched that presentation. Very interesting. I've decided to hold speculatively awaiting upcoming drill results.
I agree, and yet this SP keeps dropping. Not sure why really? I expect it to be over 4p this month. Still time yet of course
World running out of copper and prices expected to keep rising.
https://www.marketwatch.com/story/the-world-risks-running-out-of-copper-and-heres-how-high-prices-may-rise-as-the-economy-reopens-bofa-warns-11620073503
https://www.youtube.com/watch?v=FolxfCP_wUA
Your decision.
I have made mine re Mt Oxide.
And Cangai looks scuppered.
Good Month ahead for us here IMO. Copper prices at 10 year highs and expected to climb. Demand for copper rising every day with EVs and electrification of everything. CCZ to restart drilling picking up where we left off, proving up the Big One discovery and then moving over to Arya.
GLTAH!!