The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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aprogerson -when do you think we get news either way, next month.
I think the penny has finally dropped around Western world that Chinese and Russians are not our friends no matter what they might say. West relies very heavily on China for a lot of rare earths and almost all of the RE processing hence Aussie NSW move on Critical metals and US Strategic stockpile.
ATB APR
prices to be crashing some reason city knows more, than said.
Here is a link to an article which shows that stock piling of rare-earth metals in the USA may be considered with announcements to be made possibly next week. It doesn't state if the metals have to be located domestically or sourced from other regions as the USA seeks to relinquish its dependance on China for sourcing commercial supplies. It mentions those metals used predominantly for vehicle battery manufacture and for munitions and magnets etc. It is perceived that Lithium and Cobalt will be on the list for stock piling. Could this be good news for CCZ as it seems that Australia are heading to a similar approach. Lets hope that the JORC calculations are well under way and that positive amounts could give the share price a much needed boost. GLA and DYOR.
https://www.reuters.com/world/us/exclusive-pentagon-boost-rare-earths-lithium-stockpiles-sources-2022-02-18/
May have stepped down/retired but the message is still the same. But still there are those that claim this news will see us rise, lots is overdue ? Why you can only blame covid for so long. I don’t want to hear news now until they’ve got something really worthwhile to say, the market both sides of the world can smell this poorly spun BS, and aren’t having it anymore. Sorry to say drop will continue until then. GLA.
That ****** Simon filled his boots left, prob on Perth beach
Yes DDH, sadly I agree. The company is like a rudderless boat, changing direction depending on the wind. Poor show from the BoD over the past 12 months so little surprise to be trading at historic lows......
Great post by Aprogerson, good to see someone joining the dots where this heading. We learnt today that the cobalt resource is shallow from surface to 70m, its 2.6km long by 600m wide. The new CEO confirmed we could see a significant resource that will attribute a lot of shareholder value. Cobalt resource on the way and Big one cu resource not far off either. Could re rate significantly on these new resources.
No longer impressed being told what it already knows, how about great cobalt at shallow depths and license applied for and less than the standard 3 year wait and locals at rest and happy for mining to commence, now that’s an RNS worth paying to print. They have wasted so much money recently telling us continually what we already know, market not biting on this tripe anymore. GLALTH.
wow that great news just up and up now
Great RNS confirming what we suspected with 70% of historical BHA 6,182 drill results now digitised.
This enables CCZ to fast-track a JORC compliant Cobalt resource with copper and zinc credits for a tiny cost compared with what it cost prior owners to drill. This is a stunning position for a small explorer to be in as especially as the Co mineralisation looks to be shallow up to 70m deep and local ore processing could be used to monetise any future open pit operation.
Once CCZ have a declared Cobalt based JORC then they have multiple options open to them including Earn-Ins with JV partners willing to stump up CAPEX/OPEX to develop a DFS and/or a mine and/or sell out and keep a %royalty stream.
ATB APR
Phew, I was getting worried that nobody was talking about this, but you guys were all onto it yesterday! Great News!
Update from CEO on Cobalt prospects. Very interesting. JORC on its way.
https://twitter.com/themarketbullau/status/1493351905116180480?s=24
Part 2...
One line at the historical North Broken Hill’s Quartz Reef Prospect (Line 1800 E; Figure 1) was drilled across a steeply dipping gossanous quartz magnetite and quartz pyrite1. A well-defined zone of quartz magnetite, quartz pyrite and amphibolite with anomalous geochemistry returning 200 ppm to 2,500ppm Co occurs in the Redan Gneiss. Thin bands of 0.10% to 0.21% Cu (1,000 to 2,100ppm) occur in these broadly anomalous zones, while lead values are low (<50 ppm) and zinc rarely exceeds 100 ppm1.
Elsewhere in the tenure cobalt is seldom greater than 100 ppm, but can be anomalous in limonitic
manganiferous Redan Gneiss, with 1m @ 0.25% and 3m @ 900 ppm Co in hole 1180 N, and 3m @ 950 ppm Co in hole 1200N. Generally, nickel follows the cobalt trend, having values up to 800 ppm1.
Once the full data set is coded, which is currently being fast tracked, work will commence on modelling a JORC 2012 compliant MRE focused on cobalt with potential for base metal credits.
The Board believes utilising legacy assayed drill-hole data to potentially model a JORC 2012 compliant MRE delivers CCZ a significant comparative advantage over peers in the Broken Hill region. Notably, thedirect geological modelling costs are negligible relative to undertaking multi-year integrated drilling
campaigns to generate the same result.
Next steps
In NSW:
• JORC 2012 compliant mineral resource estimate for the BHA Project’s East Zone.
In Queensland:
• Assay results for the Arya Prospect; and
• Big One Deposit – JORC 2012 compliant mineral resource estimate.
In Zambia:
• Complete geophysical report on the Mkushi Project; and
• Complete work on the inaugural drilling campaign for the Luanshya Project.
Castillo Copper’s CEO Dr Dennis Jensen commented: “Preliminary interpretations from analysing assayed drillhole data collected so far suggests cobalt mineralisation is within four zones down to a relative shallow 70m, with
coincident base metal occurrences. This is encouraging as our geology team have now coded over 70% of the 6,182 drill-holes within the East Zone (BHA Project) 1 and will shortly commence modelling a JORC 2012 compliant inferred
mineral resource estimate (MRE) focused on cobalt with potential for base and precious metal (copper and gold) credits. In addition, the target area to be modelled is 2.5km long by 600m wide and located in the tenure’s south-east quadrant (Figure 1). In the Board’s view, uncovering and leveraging high-quality legacy assays to potentially model up a JORC 2012 compliant MRE
can materially advance the East Zone and create value for shareholders.”
Preliminary interpretations, based on analysing assayed drill-hole data, suggests cobalt mineralisation, with coincident base metal
occurrences, is within four zones down to a relatively shallow 70m
Over 70% of 6,182 drill-holes1 are now coded, which should enable work on modelling a JORC 2012 compliant MRE focused on cobalt with potential for base metal credits, to commence shortly.
The ability to leverage legacy data to potentially model a JORC 2012 MRE is a win-win, as it can fast-track developing the BHA Project at a negligible cost and create material value for shareholders.
Castillo Copper Limited’s (“CCZ”) Board is pleased to report that work on codifying legacy assayed drill-hole data at the BHA Project’s East Zone has exceeded 70% (out of 6,182 drill-holes1). Pleasingly, this should enable work on potentially geologically modelling a JORC 2012 compliant MRE focused on cobalt with the potential for base metal credits, to commence shortly. In addition, the geology team delineated the area to be modelled which is 2.5km long by 600m wide and located in the south-east quadrant.
SHALLOW COBALT MINERALISATION
SHALLOW COBALT MINERALISATION
A closer examination of some of the drill-holes processed to date suggests that cobalt mineralisation occurs in four zones, mostly down to 70m, within certain parts of the target area.
Just released on ASX
@APR I agree Cangai is an excellent resource and seems to be further progresses than the other licences. Cangai should normally be the main focus if it were not for the issues described in the document. In one sense this is all in the past as the necessary remediation work has been carried out and the regulator is satisfied. However, the company have created problems entirely of their own making and I am sure this is the reason for a lot of the negative sentiment on the HotCopper forum. Regarding the environmentalist, it is like kicking a hornets nest; they can cause a lot of noise and fuss, not all of their criticism needs to be relevant. Jensen is an ex politician, maybe he thinks he can smooth things over but as you said, he will need to bring his A-Game.
@lootgaloot Thanks for posting that material and reading through seems to highlight poor management and communication on the part of CCZ with the local environmental group and the regulator plus slapdash follow-on fundraising prospectus neglecting to mention the suspension of the Exploration Licences by the regulator. So not one but two own goals although thankfully all remedial action was completed and accepted with the suspension on the Exploration Licences removed.
Doubtless if CCZ wishes to progress with Cangai then they will need to play their A-Game and engage early with both regulator and the environmental group in question. I do get the sense that no real harm was done as the exploration works were limited, but CCZ did not cover themselves in glory. Interesting that the local Environmental groups cited large scale mining disasters on their report which were not even remotely comparable to the scale or nature of works undertaken by CCZ.
It will be interesting to see how CCZ approach progressing Cangai as it looks too prospective to ignore any longer.
ATB APR
Here is some background on the environmental issues surrounding Cangai...
http://www.cec.org.au/local/TheCangaiCopperMineSaga.pdf
The document is rather long but the blue text on page three is the official statement from the regulator regarding the suspension of the Cangai licence.
Castillo Copper certainly did not cover themselves in glory. However, remediation work was carried out as ordered by the regulator and Castillo released the following...
https://wcsecure.weblink.com.au/pdf/CCZ/02109978.pdf
While the Regulator may now be satisfied, it's unlikely that the local environmental group will just roll over. Normally I would try to balance the concerns of local environmentalists with the need for responsible mining however, in this case, it must be said that Castillo have really behaved poorly.
I cannot see the local group giving up their opposition having already achieved some success. It will be interesting to see what happens with Cangai but I'm not pinning too much hope on progress. It's a great pity and it demonstrates how poor management at the outset has probably destroyed this promising opportunity.
@CopperOn I must admit it is beyond me why CCZ has not progressed Cangai when so much additional drill/assay work was done 2017/19 and not incorporated into the original JORC resource let alone progressed further given the huge rise in metal prices including copper ($3.1/lb to $4.2/lb), gold ($1,300 to $1,800) and silver ($17.8 to $23) from 2017 to date. The revised JORC should now be a desktop exercise.
Broken Hill Cobalt prospects are far more intriguing given the NSW Policy change focusing on Critical Metals mining>processing and the HUGE amount of drill and assay data now available including some very encouraging Cobalt grades.
ATB APR
Good summary Aprogerson I agree a lot to like about all the assets. The cobalt has certainly caught my eye. The macro demand for cobalt is enormous with limited supply especially from ethical sovereign producers. Look forward to seeing their Jorc no’s soon, it could be a big game changer.
I rarely get blown away by an RNS but todays Broken Hill update and revised 2022 near-term priorities identify 3 potential company makers for me namely:
(1) Arya = assays due with copper/graphite potential albeit at depth
(2) Cangai = very high grade historic copper mine with extensive underground and/or possible future open pit potential ... full details on presentation Nov-19 @https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02171711-6A954581?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Sept-17 = JORC resource 3.2Mt ore grading 3.35% copper for inferred 102Kt metal. Additional drilling since by CCZ not included in resource. JORC also includes 82koz Gold @0.8 g/t and 2Moz Silver @20.1 g/t https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01893133-6A849829?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Oct-17 = Rock chip Assays and JORC 3D model view https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01914242-6A857639?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS May-18 = Results phase #1 18 holes https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01982342-6A884326?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Nov-18 = Phase #2 +18 holes https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-02052605-6A911017?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS May-2019 = approval to recommence exploration at Cangai https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-02109978-6A932145?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Sept-19 = Stockpile assays https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02141953-6A943417?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Nov-19 = Scoping Study Intent https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02169491-6A953848?access_token=83ff96335c2d45a094df02a206a39ff4
(3) Broken Hill = Cobalt prospect recognised in NSW Critical Metals policy https://castillocopper.com/projects/broken-hill/
> 6,182x known historic holes drilled by North Broken Hill Group meet current QAQC requirements and Page12 of CCZ presentation Feb-21 https://wcsecure.weblink.com.au/pdf/CCZ/02344530.pdf but does not mention Cobalt !
> Proximity to existing listed Cobalt explorer/developer Cobalt Blue (ASX:COB). Website has significant infrastructure, processing flowsheet and other details https://cobaltblueholdings.com/broken-hill/broken-hill-cobalt-project/
> 7x historic cores available in GSNSW core library available to CCZ for assaying
> 108x CCZ Drilled holes with full assay data set grading 200ppm Co up to 9,500ppm Co
> CCZ stated will produce JORC Cobalt MRE using all available recent and historic data as all data is QAQC compliant
All to play for it would seem
ATB APR
DDH sounds like you need to take a (cold) shower lol. Blue day ahead......
Again 6182 knowns with no meat on the bone to get us excited I wonder why, now give me a couple of holes from that 6182 with 50Metres at 9,500ppm then WOW something to get our teeth into, but no again we get need to what any takers YES drill more s----ing holes its already a pin cushion by the looks of it yet no decision could be made by previous drillers. Sorry I forgot major battery mineral makes all the difference !! does it eck as like, we will never get to mine in time, technology moving so much faster than this shower.
Here’s a chart for this months priority…
https://tradingeconomics.com/commodity/cobalt
So much promised here, so much wasted. Let’s hope they finally get their act together for investors.
Been like the hundred meter dash for people with no sense of direction!
Usual caveats
Trek