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On another pointless drilling campaign, love it when a company starts reporting in PPM, trying to confuse the issue but grades of .8-1.5 grams per tonne at over 100 meter’s deep or about 10 odd houses deep ain’t gonna cut it, not worth the cost of diesel to drill. Get back to the big one if it’s such a huge resource but they seem so slow on the big one now makes me question also.
news must of leaked prices rising from other day.
RNS OUT
https://twitter.com/themarketbullau/status/1505771641573621768?s=24
https://www2.asx.com.au/markets/company/ccz
Castillo Copper’s CEO Dr Dennis Jensen commented: “The preliminary results from analysing The Sisters Prospect’s diamond core has delivered Castillo Copper an excellent outcome. We now have compelling evidence, subject to final assays, there is high-grade cobalt-zinc mineralisation apparent and a prime target for future test drilling. Furthermore, the Board believes that, once all the assays are in from The Sisters Prospect, there will be sufficient data to potentially prove up a primary global cobalt mineral resource estimate that complies with the JORC 2012 Code.”
They released news in Aus a few days ago and the same news yesterday afternoon here.
Was up 9.52% in Aus overnight but no RNS there either
seems bit of a jump with no RNS
I have a modest holding here, average prices 1.9p wondering whether to buy more or bale out of this one. Not sure being dual listed is a benefit at this point in the company's lifecycle, also too many options up for grabs. One to ponder.......
So ccz released their results on the asx yesterday but haven't done so here, sloppy.
Can't buy any quantity this morning, everything goes to NT even though market makers must be holding loads of this stock at the moment.
London normally follows....
Is cheap down here.....
Under a little water sadly 30% water......
Never mind...... its sunny and we have the big one.......
CCZ has gained access to historic diamond drill core holes that were not looked at for Cobalt.
https://twitter.com/themarketbullau/status/1501730861741645825?s=24
Copper is the new Oil,,,come on now the time to double shares price
inventories could push it to $20,000 per ton, analysts say
Dennis on todays Ann.
https://twitter.com/themarketbullau/status/1501321984755470336?s=21
Decent update, let’s hope for a good rise in the share price.
The cobalt resource is interesting neighboring Cob capped at approx $200m. It looks like its gaining momentum and could increase the share price for CCZ soon.
Looking like a decent update
Re. Pt & Au. It's only surface rock chip samples so not getting too excited at the moment. However, it shows the potential of BHA to be more than just cobalt. Pt & Au is of course well worth further exploration, 12% copper from a single rock chip also interesting. Nothing that's going to move the share price at the moment but another piece to the jigsaw at BHA.
https://twitter.com/themarketbullau/status/1501321984755470336?s=24
Copper and Cobalt prices soaring!! if anyone wants to see the potential of the Broken Hill prospects go check out our neighbors Cobalt Blue. Great opportunity and timing here for CCZ holders with cobalt expected to surpass ATH and ethically mined for battery manufacturers is becoming very sort after.
To be fair, the $2.4m was for Q4 2021 which covered the cost for Arya and much of the 2020 drilling campaign at Big One. I'd expect expenditure this quarter to be minimal and I'd be surprised if drilling costs for the whole of 2022 are significantly higher than was spent in 2021 given the plans they have outlined.
My estimation for costs in 2022 are as follows...
Operating Activities $1.2m (in line with previous years' expenditure)
Exploration & Investment Activities $2.7m (in line with full year expenditure up to June 21)
Exploration above previous years activity* $2.5m (this assumes similar expenditure in Q4)
* Note, I'm assuming exploration costs for the 12 months of 2022 will equal the 18 month exploration costs for the period June 2020 to Dec 2021. In fact I don't see anything in the company's plans to suggest a 50% ramp up on exploration activity but I have erred on the side of caution.
Based on these guesstimates, the company have enough cash for 2022 expenditure. I don't think we can rely on other sources of funds such as options or IPO for Broken Hill so a cash raise in early/mid 2023 is likely in my estimation. I'm not too concerned with this time frame as regular fund raising is to be expected for a junior miner.
One concern is whether the results from the upcoming drilling campaign translate into a higher share price and therefore less dilution when the time comes for fund raising. To be fair this could be said for any junior miner.
However, a greater concern is the lack of faith in management. Given the amount spent on exploration in the previous 18 months, our return for that investment seems meagre. Big One still requires further in-fill drilling to increase the confidence in the recently issues JORC and the handful of very shallow drills at Arya has barely scratched the surface. We are a little further along than we were 18 months ago but not enough to justify the cash spent.
I'm still hopeful that the northern anomaly at Big One will add significantly to the resource and there's always the possibility that Cangai will spring into life with a joint venture. Arya is anybody's guess at the moment and BHA is a dead rubber, although to be fair the company have wisely decided to not commit too much cash on BHA.