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Always said mangerment bunch of arse holes, obviously no one gives give smoney away for nothing. Should be better If said no lithium. If not under taken in the beginning, yesterday's news would send the share price to the other direction
My concern is not about the quality of the assets, but there has to be serious questions asked about the management. Cobalt is on fire at the moment and focusing on Broken Hill could make sense especially as they seem to have sufficient data to go straight to JORC. In a different context, this announcement would be very positive. However, one has to ask what the f*** is going on?
They announced their intention to IPO Broken Hill back in August so would have been in possession of the Wyloo Metals report for almost a year by then. Having re-read that RNS, the presence and levels of cobalt was also known. And yet it was still decided that this should be spun off.
The option on the lithium prospects was announced a month later. Clearly, the Broken Hill IPO was announced as they were negotiating the Lithium options. So at that time, Lithium was preferred to Broken Hill. Something has happened between now and then to change that strategy. Today's RNS implies that they have only just realised the great potential of Broken Hill and they must sacrifice the lithium prospect for the greater good. But this is clearly rubbish as they knew about the potential of Broken Hill for some time.
The only logical explanation is that the lithium assays are not all they hoped for and so it's back to the original plan. Well that's fine, so why not just say that. Instead, they have left everyone wondering why they have just given up on lithium prospects with the assay results expected literally days from now.
As I said, under different circumstances today's announcement would have been great news. Management need to get out there over the coming days and explain this about turn to their shareholders. What is realling galling about today's RNS is that they don't even acknowledge that Broken Hill was going for IPO. It's like August's RNS didn't happen.
what an absolute bunch of jokers
We've opened 10% down at 3.3 on the chi-x.
https://hotcopper.com.au/asx/ccz/
This is a massive u-turn, only a few months ago they announced they planned to IPO Broken Hill. Now we're told it's their main focus and abandon the lithium licences. I was never a great fan of the lithium prospects, I always seen it as a distraction but this chopping and changing doesn't look good.
I'd love to believe that these new insights into Broken Hill are so wonderful that they've had to abandon everything else. However, we're told they had possession of this report since late 2020 from Wyloo Metals and it's only now they realise the opportunity?. Something doesn't pass the smell test.
My gut feeling (but still haven't read the full report) is that they have a heads up that the Lithium prospects are not that great so to soften the blow they've dug up this report they've had for over a year to try to justify the u-turn.
If Broken Hill is so great, why not sacrifice a still unproven Arya instead of potentially promising lithium prospects. As I say, I'd bet the Lithium prospects were no great shakes from the start. Something never sat right for me with the lithium prospects. Why so cheap? Why didn't Core Lithium buy the licence.
Tomorrow could be a disaster.
Lichfield off, change the road
It will be interesting to see the aussie response overnight after recent increases in the share price. Maybe the uk investors got it right not following the recent price movement....
Can't make it out
Just released on ASX
https://www2.asx.com.au/markets/company/ccz
The wait for assays continue for Litchfield, Northern Territory, Australia.
[Castillo Copper - option into Litchfield [lithium spodumene] next to Finnis [Core]]
Thur, 13 Jan 2022.
can't see it doing much now till news, gone the way around now, Aus leading the way
UK equivalent of AUS close overnight is now 2p!
I know that there can always be some disparities in SP between London and Australia but at the close of trade in Oz we are now approx 20% behind so could be a good day today.
Up another 5.56% over night in Oz!!!!!!!
Another nice tick up.Hope the good run continues in Aus later on.
all sells this morning (1.342m) and Barclays will still take 1.5m shares off me for 1.67p pre NT so MMs clearly happy to take sellers' shares....
Can some one tell me where is ccz lithium is to the new Australasian Metals (ASX: A8G) lithium field as A8G says they beside CXO lithium field ???
Nice to see the shares up another 2.86% in AUS overnight (UK equivalent 1.9p). They certainly are looking forward to those lithium results!
Many posters in Australia complaining of back logs at labs with one commentator saying that all 5 of his prospective exploration mining stocks have the same problem. Another holding (TTM) suggests that they have been waiting months for JORC to be formulated and samples there have been sent out to 5 external countries to try and bypass the backlogs at labs. It does suggest that what we are experiencing is common place so we must just wait patiently. GLA.
Trying to keep up with the opinions in Oz it really does seam that most new money causing higher liquidity and upward share price movement is due to the fact that many there believe assays will be good regards LITHIUM samples with many posters reflecting on the success of Core Lithium (CXO) which on google search shows SP movement of +230.95% over 1 Year and even +10.32% YTD.
Here is hoping that good assay results can firm up our SP as positive sentiment (especially in Oz) seems ready to burst on good news.......it is just the drawn out waiting and anticipation that frustrates but does help pass by the darker winter nights. GLA DYOR Swissy.
Barclays will take 1.5m shares off me for 1.66p pre NT. They're having a laugh....
Thanks Swissydog. That's really good INTEL. It's easy to be suspicious about the delayed assays but if it's across the board then that means no news isn't bad news! The wait is painful.
DVH - Oddly enough I'd prefer it this way round than Aussie being lower. Hopefully catch up will be an enjoyable ride.
Equivalent UK price 1.85p (exchange rate of $1.9 AUS)?
Another 6.06% up in AUS. Here....nothing!