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Thanks for the info aperoerson, sold majority only small holding left. They be running g out of cash soon
hi causal, from memory this is a rejig of original mre with addition of surface ****, tailings and mined/unprocessed materials. issue for me was always why wasn't cangai progressed earlier given original high 2.5% copper grades and huge jorc resource issued several years ago?
i would need a very good reason to believe the bod after so much spin and small delivery/follow-through over last 2 years ... is issue with cangai one of licencing to resume exploration and/or mining or something else?
atb apr
Can anyone make head of tail on latest Rns cangai mine .or just more spin covering for yesterday
Unbelievable error. I've given management the benefit of the doubt up until now but it's clear that Big One/Arya has been one error after another. Strangely, it seemed to me BHA was reasonably well managed (although not the result we wanted). And what about this guy appointed in January...
Mr David Drakeley BSc (Hons), an experienced field geologist who has worked as point on CCZ’s drilling campaigns in Broken Hill and Queensland, will oversee designing and implementing all future exploratory work across the group’s portfolio.
Should this guy not be on top of this?
I sold some this morning. what your opinion lootgaloot.
I am soooo pleased to have sold out of CCZ last September after believing way too many of the things they have said before they hop onto the next big thing and spin that for as long as they can. How can you quote an NPV for something and then retract ALL of it not just correct it?!
ATB APR
More bad news they need to make better decisions to start with wher we go from here I don’t know I am running low on confidence with this company
I've not seen one of these before
ASX RELEASE
24 July 2023
RETRACTION OF ASX RELEASE
Castillo Copper Limited (ASX: CCZ or the Company) released an announcement titled “Initial pit optimisation delivers A$28m NPV for Big One” (Announcement) announcement on 13 July 2023.
Following discussions with ASX, the Company retracts the Announcement.
This information is not consistent with ASX Listing Rules 5.16.6 as the Company has based its
productions targets in the Announcement on an inferred resource.
As a consequence of the retraction of the Announcement, the Company advises that investors should not rely on the retracted Announcement for their investment decisions.
Authorised by the Board of Castillo Copper Limited.
Dale Hanna
Company Secretary
Its also strange that there's no mention of the discount rate for the NPV. Anyone know why? Quoting NPV is meaningless without mentioning the discount rate. Is this yet another clumsy omission from the company? Seems a crucial bit of information to leave out. Maybe I'm misunderstanding something?
Somewhat disappointing. Only 6,266 tonnes recoverable from the 21,886 tonnes resource due to deeper drilling being uneconomic. CCZ say a standalone mining operation can be developed; I assume that's true but who's going to partner on a rather small resource? They'll have to go it alone? That will be another cash raise. They've also mentioned mineralisation extends to the southwest and down-dip. Good but how much is that going to add realistically?
I'm disappointed not to see any mention of the anomaly to the north which was mentioned as potentially greater than the current resource at the time of drilling. Instead, mention of 20 incremental resources waiting on the wings. The word 'incremental' suggests small additions to the resource rather than any big game changers.
Nevertheless, I'm happy to se we are finally talking about Big One again. I hope this is where the focus stays. I can't se us securing a strategic partner at current copper prices but at least we have something, even if we may need to fund it all ourselves with a cash raise. A long road ahead I think.
Any thoughts out there on.
I have just read the LISTING documents for Litchfield, now called Evergreen listed on ASX Australia.
From the Evergreen listing document, they said SAT Survey was USED BY CORE LITHIUM in 2022 so they are going to do SAT as well.
So, still puzzled why CCZ dropped Litchfield although history now.
Want to know what happened to Litchfield which CCZ wanted to farm into?
Lithfield Lithium 's partners were KDNC.
EV_Bull has just posted at 11am+ today, a research note and there are details of Litchfield, now LISTED ON THE ASX AS EVERGREEN with mkt cap of around A$30m. I think Kiran Mozaria said the price 3x since listing if I heard him correctly in his interview with Alan Green for June 2023.
Evergreen has done a SAT survey and has identified several potential pegs, continuous with Core Lithium [Mkt Cap A$1.8bn]. Just history to let ya all know what has happened to Litchfield that CCZ paid a deposit to JV into but did not complete the deal. I was puzzled and followed the story back to see what happened.
All history now. 6.7.23.
Finally bit of news, Any thought who knows about Geology of the figures.
Just glanced at results again. Actually even the very best 30% at pH = 1.0 was a complete outlier. To be commercial at pH = 4, we need 50%; we are only getting low single figure percentages. Dead as a dodo. Need to get back to copper at Big One.
Https://wcsecure.weblink.com.au/pdf/CCZ/02675634.pdf
Bit of a disaster I'm afraid. Should be achieving around 50% TRE+Y under pH = 4.0 extraction. We only got 30% and that was at pH = 1.0. Some talk about sampling from other areas and moving to more expensive acids is just clutching at straws. Simply not commercial imo. We still have a relatively high value magnetic content but, judging by the tone of the announcement, they know the figures don't stack up.
Been said that they run out of money for more test results in two months.
Something has to go out in the next few weeks
Not sure if anyone is in the office currently it is very quiet
Does anyone ,when will we get any news .can't be far now
The best place to keep abreast of new about Castillo is on www.marketindex.com.au
Falling fast on ASX. Now 1.0 cent, equivalent to 0.53p. So we could fall another 20% on AIM and still be higher than ASX.
I'm putting the latest falls down to disappointing Chinese economic data this week. The Chinese yuan is weaker and that's putting the breaks on commodity imports. At least I hope that's the reason.
CCZ really need to find a partner for either Big One or Broken Hill. I don't think we have enough cash to do any meaningful drilling so waiting on good metallurgical results from Broken Hill to attract interest.