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Price shot up in Aus 18%?
I notice Cangai gets another brief mention; under next steps...
Cangai ground gravity and magnetics survey.
Cangai was the flagship project when CCZ first listed in London but dropped off the radar during Simon Paul's tenure; to the point that it was barely mentioned. It looks like Dennis Jensen is keen on Cangai? Watch this space.
My understanding is that Cangai met with considerable local opposition on environmental concerns. It will be interesting to see how Jensen addresses this. He is a politician but I've heard he has a very brash Trumpian style. Does he intend to steamroll his way through the opposition, this rarely works in my view but it will be interesting to see how that progresses.
Meanwhile we have further evidence that the historic data from BHA is high in both quantity and quality. Hopefully we can JORC both BHA and Big One by the end of the year. I'm not sure what to make of Arya, it's worrying that it's now being referred to a a graphite resource rather than copper or other higher value metals.
arse from elbow this lot
Great timing as Cobalt is flying. 6k drill holes Broken Hill
https://twitter.com/themarketbullau/status/1491166272763351040?s=24
Looks like the company finally has a plan......
Just released on the ASX
https://www2.asx.com.au/markets/company/ccz
What is the takeaway from that report casual, our once owned by the major’s license’s unlikely to attract them back for the obvious reasons they let them go maybe, still away to drop I believe at the moment not worth much more than the cash in the bank. Silence is definitely not golden in this case.
As seen still dropping, thought be at least holding ground pending results
Sorry I posted on the wrong BB, I've asked for a deletion.
https://sg.news.yahoo.com/mining-majors-treading-carefully-battery-000000088.html
Https://sg.news.yahoo.com/mining-majors-treading-carefully-battery-000000088.html
One thing to take from that RNS is we still have plenty of money to go digging, the rest we already knew but lets just fluff the pillow once more.
Well worth a punt at this price. BW
My appreciation for, aprogerson for input. we should hear something, a round 8 weeks time.
@swissydog you're welcome and thanks for the feedback
ATB APR
@aprogerson, having just got home and reading todays BB I would like to express my appreciation to the work you put into your comments and share with us. We are all still reeling from the U turn that CCZ took recently and your detailed comments and analysis help us all to piece together a new and slightly more complex investment situation, many thanks.
@Causal What I like about ASX is that companies need to post quarterly cash statements and the last one we have for CCZ is Sept-21 so can expect another very shortly giving position up to end Dec-21. Ref: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02443702-6A1059382?access_token=83ff96335c2d45a094df02a206a39ff4
Simply put CCZ cash position to end Sept-21:
Cash = A$10m
Expenditure Admin = A$518k /quarter ... this figure has been consistent
Expenditure Exploration = A$1.5m for JUn-21 to Sept-21 ... this figure varies quester to quarter dependent on activity
Total costs = approx. A$2m
Commentary: Declaration then does a simple sum assuming this level of expenditure continues and says 5 quarters of cash remaining. Considering this period had heavy exploration activity at Arya et al it looks like CCZ is well funded albeit we have the Sept to Dec-21 period costs yet to be declared, but assuming this level of spend continued (unlikely as darned hot!) then there is approx. 1 year of cash left assuming A$1.5m exploration spend per quarter.
IMHO given the above info CCZ is in a good cash position, but we have no idea what a revised 2022 programme may look like now both BHA and Cangai are in play! My best guess is:
(1) complete Arya drilling & modelling
(2) complete Big One JORC resource assessment
(3) apply for Cangai licence/s exploration and tailings extraction
(4) reappraise Cangai drill model, data and cores to revise JORC and/or generate drill targets to do so
(5) reappraise BHA historic drill model, data and cores to produce JORC and/or generate drill targets to do so
(6) complete Zambian work to hand then put on hold
(7) decide next strategic steps at BHA ... partner or go it alone!
Given the stated changes on NSW Critical Metals policy I think it almost certain that CCZ will get approached to JV Cangai especially as it has a high grade resource with recent JORC and huge potential to expand via exploration which CCZ will not be able to fund without significant shareholder dilution.
CCZ Annual report to end Jun-2021 states that they have been approached by several groups, but no firm offers and remain open to "another avenue to create shareholder value".
ATB APR
what your opinion aprogerson on funds they be high and dry this year ,could eat in the share price with issue
Yes that was what I had heard but again no information as to CCZ position. Perhaps with eth NSW Policy change that any future licence will be more straightforward given the Aussie push to be independent of China and its questionable treatment of the Aussie mining sector. NSW Critical Metals includes battery metals and REEs used extensively in EV motor manufacturing.
I'll take a look through prior CCZ presentations on Cangai and see if I can unearth any info on licence s et al
ATB APR
Is the obvious issue, and from what I remember from around the trumpet blowing around the Big One it was stated not by the company but by a knowledgeable poster that licenses in Australia minimum of 3 years to obtain hence my dismay that they still haven’t even applied Alarm bells a ringing.
@DD Hammer I share your frustration and like you have been concerned about lots of promises made and lack of delivery which has been reflected in CCZs SP since it listed on AIM Sept-20.
FYI, I have not found anything (so far) detailing why Cangai was not progressed and a mining licence pursued in order to ship the above ground ore stockpiles for processing given their high grades and gold/silver content particularly from the historic smelter **** heap showing average grades of 2% Copper + 0.15g/t gold + 8g/t Silver. What I cannot find is any information relating to the quantity of potential tailings ore at these sites.
ATB APR
Some sabre-free shortcuts to prior ASX Announcements on Cangai
> CCZ Spoil heap sampling & Results @2-Sept-19: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02141953-6A943417?access_token=83ff96335c2d45a094df02a206a39ff4
> CCZ Cangai JORC @6-Sept-2017: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01893133-6A849829?access_token=83ff96335c2d45a094df02a206a39ff4
Agro sure everyone appreciates you Sabre rattling all these previous knowns, but surely if anyone of these resources was believed, going to make it to mine they would have more focus, but no they insist on a dig all and hope to get lucky policy. I hope for focus from the new CEO but fear this will not be the case. No near time news drop continues.