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@Causal Looking at the JORC figures and potential value of the contained metals Cangai at 0.8g/t Gold would make it a possible standalone Gold mine but as a high-grade copper mine with excellent gold and silver contribution plus some minor credits generated from Cobalt and Zinc if economic to install the necessary plant processing circuits to extract it.
ATB APR
@DD Hammer I am not disputing that Cangai clearly has some unresolved issues otherwise any reputable explorer/developer would be all over it given what the JORC resource at a very high 1% Cu cut-off grade shows. However given polymetallic nature of the mine with high 3.35% copper grades this ought to generate considerable interest and possibility of bringing in a Major on an Earn-In basis to drill it out further and take it to DFS level which would then address whatever these 'issues' are as part of the costs side of any calculation.
ATB APR
They listed with Changai as there main objective and have completely ignored since, drilled big one stated mega take to license immediately still haven’t. Your right research is important, but so is an honest and open board these are problematic resources, drilled and left by majors says a lot.
There is a lot of information on CCZ website https://castillocopper.com/projects/cangai-copper-mine/ including drill results and cross-sectional map of historic mine plus grades, intercepts and where they believe resource is 'open' to extend resource through future drilling programmes.
JORC Summary
"A maiden Mineral Resource Estimate (MRE) was completed for the Cangai copper-gold deposit by ROM Resources Pty Ltd for the Company in September 2017. The Inferred Resource was based on all available historical data as of 31 August 2017 compiled in a three dimensional block model and the estimation and classification of the Resource was completed in accordance with the JORC Code.
Inferred resources of 3.2 Mt at 3.35 per cent. Cu were reported at a cut-off grade of 1.0 per cent. Cu. The Mineral Resource was modelled using a 0.5 per cent. Cu wireframe threshold and reported using a reporting cut-off grade of 1.0 per cent. Cu. The Inferred classification was based on geological confidence, drill hole spacing, grade continuity and historical mining data. "
JORC Commentary: Having a 1% Cu cut-off is actually quite high as most modern mines are economic at circa 0.5%. We also know that the JORC was modelled using a 0.5% Cu wireframe which implies that the JORC model data can be rejigged at a lower cut-off grade which usually significantly increases the available resource.
Also JORC model indicates that the 3.2Mt Ore is polymetallic and amenable to open pit mining which includes resources of:
Copper 108Kt metal from ore grading 3.35% @$9,750/t = £785m
Cobalt = 153t metal from ore grading 0.005% @$55,000/t = £6m
Zinc = 12kt metal from ore grading 0.37% @$3,600/t = £32m
Gold = 83koz metal from ore grading 0.8g/t @$1,750/oz = £108m
Silver = 2.1Moz metal from ore grading 20.1g/t @$23/oz = £35m
So value of contained metal from 2017 modelled JORC at 1% Cu cut-off grade implies £966m assuming 100% metal recovery.
Clearly AIMHO and very theoretical given information available albeit this is based off a JORC resource completed in 2017. It should be noted that a very high Copper cut-off grade was applied so it is not unreasonable to assume that the amount of contained copper is likely to rise substantially and possibly push the economics back towards an open pit operation with some underground mining dependant on where the resource is situated and what an economic pit shell might look like.
Certainly lots to play for now at Cangai
ATB APR
I think aprogerson, cobalt junk status it will be , bringing things to get red of it in batteries
https://twitter.com/themarketbullau/status/1486828909500928000?s=24
@DD Hammer My guess is the muted response is because Cangai JORC of 108kt Copper metal is not new and known resource has not been developed for a historical reason (I need to research!) hence the doubt that it can be. However with NSW Critical Metals designation for Cobalt, Lithium and Copper CCZ is now in a great place to exploit both BHA (Cobalt & Lithium) and Cangai (copper).
IMHO what CCZ shareholders need to see is the implications of this Policy change and potential of both licences/JORC spelled out for them so whatever historical impediment confirmed as a non-issue.
ATB APR
@CopperOn I think you misread RNS as Cangai is a high-grade monster with JORC (2012) MRE of 3.2Mt @ 3.35% Cu implying circa 108,000t of copper metal not 108Kt ore! I also understand that there is also plenty of exploration potential to expand this.
Contained Copper = 108Kt at $9,750/t = $1,053m or £785m
IMHO this is an absolute game-changer for CCZ. Figures assume 100% recovery and we have no idea what the mine build costs are, BUT that is a lot to go for and it is a internationally recognised resource that can be borrowed against to fund or bring a partner in as risk @inferred resource stage is understood plus Cangai has historical records that can also be used to judge mine design, build & run risks/costs.
ATB APR
Muted response again no real focus, dig at here dig a bit there, going round in circles chewing up money more directors fees.
And am I right in thinking SP has walked away with all his options intact, result for him poor CEO and continually rewarded.
ASX obviously want to see some proof of works fed up of wide spread wasting of finances.
Need some real positive results to get this downward trend turned around. GLALTH
Muted response again no real focus, dig at here dig a bit there, going round in circles chewing up money more directors fees.
And am I right in thinking SP has walked away with all his options intact, result for him poor CEO and continually rewarded.
ASX obviously want to see some proof of works fed up of wide spread wasting of finances.
Need some real positive results to get this downward trend turned around. GLALTH
Nice shake up in management and great to see our tenures on NSW critical minerals list especially Cangai. Over 100k t at 3.35% copper.
Lots to play out in the coming months and plenty of battery metal exposer.
3x RNS on ASX
> Simon Paull leaves CCZ on 1-Feb-2022
> DENNIS JENSEN HAS BEEN PROMOTED TO CHIEF EXECUTIVE OFFICER
> GEOFF REED PROMOTED TO EXECUTIVE DIRECTOR
Plus an Operational Update
https://hotcopper.com.au/threads/ann-operational-update-and-board-changes.6551609/
Remarks from Castillo Copper’s incoming CEO, Dr Dennis Jensen:
“Moving forward, the Board’s objective will be to prove up JORC 2012 resources and further develop the Arya Prospect located in the Mt Isa copper-belt. In addition, we expect to have multiple targets to drill-test across the Luanshya and
Mkushi Projects in Zambia’s copper-belt. This is an excellent opportunity and an ambitious exploration agenda. Furthermore, with a high-quality asset portfolio, the Board has the potential to create significant incremental value for
shareholders. Finally, I’d like to thank my former colleague, Mr Simon Paull, for his tireless hard work over the past few years and wish him well with retirement.”
It looks like the NSW Critical Minerals List announcements is actually a big deal for CCZ at both BHA and Cangai Copper projects:
This is an encouraging development for both projects and a key catalyst to accelerate work on modelling
/ updating a JORC 2012 mineral resources, which the Board is targeting to complete during 1H 2022 – further details follow:
East Zone, BHA Project. Further work by CCZ’s geology team has uncovered over 1,500 incremental drill-holes within the tenure that have the potential to contain cobalt mineralisation. The Company is in the process of working through and interpreting this large volume of data and an announcement updating the market of the results of this work will me made in due course. These additional drill-holes complements the 108 drill-holes already documented that have cobalt readings ranging from >200ppm Co up to 9,500ppm Co5
. Consequently, CCZ’s geology team is optimistic there is adequate geological data to model
up a JORC 2012 mineral resource for cobalt and potentially zinc.
Cangai Copper Mine: Previous work by CCZ’s geology team produced a maiden JORC 2012 compliant inferred mineral resource of 3.2Mt @ 3.35% Cu implying circa 108,000t of contained copper
. As a result of being on the critical minerals list, the geology team will review previous work and use results from drilling
undertaken in 2017-18 to update the mineral resource estimate.
Some seriously good news for a very pleasant change ... Cangai is a monster and very high grade so we know it is commercial ... what is not so clear is why it was not progressed earlier and if whatever the reasons were they can now be overcome because of the NSW initiative
ATB APR
>
Has simp. Paul gone, face sake of company.
Just released on ASX.
https://www2.asx.com.au/markets/company/ccz
Including the following re Big One and Arya.
"Big One Deposit: With sufficient data from the drilling campaigns undertaken
over the past 15-months3
, which demonstrated extensive shallow copper
mineralisation, CCZ’s geology team is now working on modelling up a JORC
2012 mineral resource estimate. The Board anticipates this will be finalised
during 1Q 2022.
Arya Prospect: Initial observations and interpretations by CCZ’s geology team
highlighted the potential for a graphite discovery4
, however, this is subject to
confirmation by assays which are still at the laboratory. Confirmation of a
graphite discovery would expand CCZ’s portfolio of rechargeable battery related
minerals, which is timely given the growing demand for electric vehicles globally.
Further exploratory work needs to be undertaken at the Arya Prospect to
investigate a sizeable magnetic anomaly – a potential source of base metal
mineralisation – which is coincident to the electro-magnetic anomaly that was
drilled during 4Q 20214"
Lets hope so Casual....... following the fundamentals of the metal price correlation with small explorers for copper Gold... Tin and Nickel.... Just don't add up for me.....
A bit like oil and Gas when Covid hit.......They a back breaking new highs after 24 months in the doldrums........
Getting the entry spot on is never easy but loading up at these current lows is a no brainer for me.....
Bitcoin is sticking with his conviction and averaging down on all .....
Sure there will be a 200% bounce coming over 24 months to get back to where we should be and then there could well be a stand out performer.....
Like signing Ronaldo from the Sunday league...
Always wishing every Aim investor the best of luck....... ATB
Your In a good position bitcoinplayer, better than me fingers in that many pies , something has to turn up..
But I am keeping the faith cos the Big one is exactly that a big one.....
The Dirk Diglar of open pit high grade copper.....
I see a bright future if you have the balls to position at this price...... My average close to 2p..... did spike @ 4.4p .....
Any ideas when more results come, and how long the money going to last for digging the bush?
Price should level out now always said board are ******s. Like straight off Fremantle Beach. Let's see results talk better to pull them out. Copper still the best play. Pointless selling, bottom draw job.!
So basically Castillo management are bull$h1tting us. The reason for not taking the option has nothing to do with BHA but it's because some of the Litchfield/Picasso shareholders never agreed in the first place. It seems Cadence and partners have already seen the results and decided they're too good to give away cheaply. What is the point in having an option if the other party can walk away when it suits them? How poorly negotiated must the option have been if Castillo feel they don't have a leg to stand on to put up a fight.
I'm really losing patience with this company. I bought in because I thought the focus was on Mt Oxide with possibly Zambia down the line. Instead, they took an age drilling the same hole over and over at Big One and then left it so late to get to Arya they had to helicopter the rig and only ended up drilling a few 200m holes. This is well short of what was promised in early 2021.
I'm not happy with this jumping from one thing to the other. I was never happy with the Lithium direction; it smacked of opportunism and had a to-good-to-be-true vibe from the very start. I should have trusted my instincts.
EV_Bull Fair enough, peace out.
Please don’t take offence @news that wasn’t my intention.
Just trying to help others.
EV_Bull
You remind me of another poster who starts his post with YOU ARE WRONG NEWS
or you are incorrect news. I notice you dont do that with others on kdnc or kdnc.pl?
It is more classy to just provide the link without you are wrong, you are incorrect.
If any link is faulty, just type up the title or cadence minerals litchfield.
We are all here to help each other, have goodwill as everyone is trying to help out with research.
Now that CCZ is no longer taking up the option, I posted just to let folks know that if they are interested the assay results will be out shortly/soon?
But CCZ has now changed course to cobalt and that is what HC is discussing now.
I am going to try to look up the nearby Aussie co's.
news, Sat 15 Jan 2022.
Your link is incorrect @news, it's here: https://www.cadenceminerals.com/projects/lt-ls/
They already have the assays back @news, news soon on those.
https://youtu.be/5iOT8agwzIY?t=1108