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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/
prices to be crashing some reason city knows more, than said.
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
aprogerson -when do you think we get news either way, next month.
we all probably be end up junk status. with another rights issue. and probably get bought out when all the work been carried out, for peanuts .says a lot keeping your money with the big hitters, at least a steady income.
@causal I would have expected something by now on BHA to lay out the forward plan around drill core data (re)modelling and/or an indicative timeframe to JORC given that the work will need to be commissioned
ATB APR
aprogerson, got to be in a month or so. a lot around Aus, nothing mentioned about Africa mine, up the ante.
I think the next significant news will be assays from Arya which were submitted on first week of December. It seems assay work is taking around 4 months to complete at the moment so we could hear something from mid-March onward.
The historical data from BHA should now have been digitised and interpretation underway but as the stated intention is to re-analyse the RC and diamond drill cores, I assume this will be another 4 month wait? If correct, any update in the next few weeks will be the usual nothing burger.
News from Zambia may not have much impact on share price. The IP survey at Luanshya is complete and the drill targets identified but my understanding is that they will work with a drilling partner and that could take some time to arrange. We're still waiting on the IP survey from Mkushi Project and this could drop any day, but unlikely to move share price judging from previous IP survey announcements.
The way I see it, we should get the Arya assays next month then a series of drilling updates throughout the summer, mostly concerning Mt Isa projects (Big One and Arya) then hopefully a busy news period in the second half of the year with JORC on BHA, assays from Mt Isa and maybe even a JORC for Big One.
In my opinion, Cangai and Zambia are a sideshow this year. Maybe 2023 will be all about Zambia. At some stage we need something to excite the market and my guess is that the northern anomaly at Big One is our best chance of getting the share price moving. I haven't given up on Arya yet but it will take more than graphite to get the market interested. Cobalt at BHA seems very thinly spread and will require a partner with deep pockets, JORC is the first step but who's gonna get out of bed for 200 ppm Cobalt?
Good to hear your views lootgaloot.
good summary Loot, although I think you have the cobalt grade incorrect. I’m expecting the resource to look similar to their neighbour cobalt blue although smaller, but a similar grade. Ccz said resources getting modelled at Big one and BHA to add to Cangai. Getting crazy cheap now imo.
I hope you are right CopperOn but we are not talking here about the West Zone which neighbours Cobalt Blue licence. Cobalt is present only in the East Zone which is 40 to 50 km away. As the latest RNS states, "Elsewhere in the tenure cobalt is seldom greater than 100 ppm".
Even within the East Zone, there is a relatively small "defined target area" (Figure 1, RNS 14/2/22) where cobalt occurs "within certain parts of the target area". Data for Line 1800 E is included in the RNS (presumably because this is the very best data they have) but while levels are described as 200 ppm to 2,500ppm; it can be seen from Figure 2 that only a very narrow band gave a reading for 2,500 ppm and all other readings were 200 ppm or less/non-existent.
So I shall stick with my expectation that the full analysis will reveal isolated cobalt zones of around 200 ppm. Unfortunately, we have seen from Big One, that Castillo have a habit of throwing out big numbers from 1 meter intercepts which give very distorted views of the overall resource. Certainly there is nothing in the latest RNS to suggest this resource is in any way comparable to Cobalt Blue.
My take on BHA is that the availability of QAQC compliant data from historical drills, combined with the inclusion of BHA in the NSW government’s critical minerals policy, has presented Castillo with an opportunity to model a JORC resource. It's a 'no brainer' given that work at Mt Isa is on hold for the raining season. But just because something is easy/convenient to do, doesn't make it an exciting project. If they can garner enough interest in an IPO for a few million then it's worth doing but I don't see BHA as a company maker.
Cobalt prices are on the up at the moment but historically very volatile and this could present a significant barrier to a successful IPO. Also, Cobalt is usually a by-product of copper or nickel mining so there are many existing sources around the world as well as tailings which could be processed at economically attractive rates. In short, Cobalt isn't all that exciting and at 200 ppm, even less so.
On the other hand the resource at BHA is shallow and while 200 ppm is low in historical terms, the world is changing very quickly and BHA may become commercially interesting in a new "cold war" world; but I'm not holding my breath.