Member Info for aprogerson

Has anyone got any decent information on the drill programme including targets and timeline?
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@Bestmate Nice spot, CCZ website is underwhelming and I could only previously find 3 pillars presentation. What is striking is shift in priority over last 2 years from Cangai to Mt Oxide and BHA partnership as a silent 'partner' subject to bringing in a JV partner.
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@Basher I have the same with both GWMO and Gunsynd on IG ... the rest of my portfolio can be traded but last years margin rule changes killed spread betting for me as you need to hold a large 'bank' to take any meaningful position now unless you are classed as a professional trader with liquid assets £500k+ (from memory so may have got it wrong!) where much less margin is required.
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Flipping heck .... retest to the upside of prior Fib 23.6% retracement @24p now very likely today at this rate.
If we do I'd expect it to be retested to the downside and then form strong support going forward
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Wow 23.1p busted looking for 24.2p and moving fast. Nice
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@BAsher I've tried the same if you are spread betting than IG may not consider the stock liquid enough hence the message. I can still buy shares on HL
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Possibly but the 90m Buy is declarable unless it has already been sold down
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MMs are masking it here with huge spread. So much for a decent top-up opportunity
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Nice to see GGP testing to the upside prior neckline resistance at 23.1p both Friday and this morning ... hopefully bodes well.
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We like a bit of blue
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DL knows the area well and (I think) has an interest in Artemis. I fully expect him to have his fingers in Rincon (Haties and Westies prospect to SW of Telfer) when that comes up for ASX IPO in the next few months.
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Morning @GB, do know of any decent source of comparable data on HUMs peers that can be used for valuation comparison using gold price, AISC , debt and production ozs as HUM moves from 110oz to 210oz over next 2 years?
HUM presentation had lots of sale price info for various mines so any research by any posters here would be really useful
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@numpty, sorry to disappoint no Mac to be seen.
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@555, you maybe 100% correct we just don't know.
I understood that AA were directing where some of the drills went so I'm not sure what to believe.
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Nice that should set us up for next week.
What I am seeing across the PM and base metals sectors is Majors scrambling to buy back into licences areas that they sold out of in the 2014 to 2018 period when most had to restructure to survive themselves during the brutal sector downturn. Lots of Junior explorer / producers are still struggling to raise funding at sensible rates hence why JVs are so attractive.

GWMO needs to get the drill results back and use the tailings sample results to inform near-term production to establish a modest revenue stream & minimise any dilution as it proves up its resources via additional targeted drilling campaigns from free cashflow.
All IMHO ... looking forward to positive newsflow over the next 1-6 months from the 2020 programme.
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Interesting CCZ 3 pillars summarising their Copper strategy https://www.castillocopper.com/three-core-copper-pillars/

Also I dug out Feb-2018 report: https://www.castillocopper.com/wp-content/uploads/2018/02/CPS-COMPANY-UPDATE-Report-Final.pdf Interesting do we know why CCZ has not progressed Cangai or updated JORC resources to include DSO ore dumps? I just run the numbers again on the stated JORC resource which implies contained metal value of £720m using their base case declared resources and todays COMEX metal values. Considering this is billed as a Copper play the gold/silver by-products alone are worth 22% of the inferred value and the Zinc/cobalt metal content less than 4% overall so Copper is actually 74% of the resource value.

Checking ASX this morning CCZ closed 2-Oct-20 at AUD$32.6MCap (£18,2m) with SP at $0,042 (2.35p).
Does anyone know the £NAV of the JORC compliant asset as IMHO Cangai really a Copper/Gold/Silver play.
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@Socialist We can also add OMI to the Earn-In 70%+ going to the Major list in their JV with Newmont/Agnico in Colombia. Simply put however inequitable JV seem the Junior that owns the licence and has proven it up to the point where a Major is interested just does NOT have the means if raising the necessary CAPEX or OPEX to fund 2-3 years of work just to get to DFS and a proven resource that can be added to a companies balance sheet and then used as collateral to raise debt for the CAPEX to build a mine plus the 2 years OPEX needed to run the company before first revenue comes on stream from Gold/Silver production.

A Junior will doubtless say 25% of a valuable producing asset is better than 100% of nothing. Again OMI proves the point that they had a producing mine in Uruguay that provided the cashflow to fund the Colombian project, but Uraguay grades dropped and they had to liquidate and go cap in hand to Newmont for almost 20% of OMI at rates very favourable to Newmont as it was over a barrel. Even Hummingbird Resources (HUM) that produces 110koz gold /annum decided to do a 49% Earn-In with a 3rd party for its Dugbe project to avoid CAPEX & OPEX costs upto DFS ... so what chance does a Junior have with no asset or cashflow, 25% retained interest in a bankable asset and minimal risk seems like a steal.

In exploration terms 'Fortune may favour the bold' but in mining terms 'Cash is King'.
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Angold has yet to go public on TSX and when it does will need to raise capital in order to progress one or more of its 3x 100% owned projects and/or progress the Iron Butte option. GUN has indicated that it will participate but level of investment & timescales are unclear.
Does anyone know what if any minimum fund rising criterion TSX have for an IPO?
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Morning @Socialist ... nice bit of digging (pun intended). So in summary GUN holds:
> Angold = 5.28% via ZTR/Oyster Oil & Gas +1.13% Federal Gold Corp/ZTR = Benefical interest of 6.41% Angold
> Subco = joint owned GUN & Northbay Capital Partners Corp for production sharing contracts in Madagascar and Djibouti
I'd be interested if someone else can go through the material Socialist and I dug up and see if you agree?
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Hi guys, reading through all the background material I can get my hands on the only thing I found perplexing was the 3 phase Earn-In with each phase being 4 years for an overall 12 year timeline (10 years remaining) to DFS.

Any idea why it is so long and/or how would the new JV partners go faster. Is it that each phase 'completes' when target exploration spend has been reached and then next phase starts or have I misunderstood something?
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