Member Info for aprogerson

I wonder if there is any news out of Zambia on court cases et al?
ATB APR

@cattlemen Well we are up 50% in 4 days and just sat on 3.2/3.3p neckline resistance so we shall see but good momentum behind us which has not been able to be talked down by some ... so far at least !
ATB APR

Looks like PX broke the downtrend from Mar-2021 intraday high of 8.8p around 10-Jan @2.3p having retraced all the gains since Jul-2020 and has rallied hard over the last 4 days since breaking the Head and Shoulders neckline in Oct-21.

Any close above neckline resistance at 3.3p would be good news!
ATB APR

About time Directors started buying ... but only a start I think
ATB APR

Goodness @Ella I've had several dogs with bones that were less persistent than you. Please answer the question ... you know the one that everyone keeps asking you
ATB APR

Yes sound capital management with Charger Metals 6% interest on a free-carry for GUN now they have recouped their initial £280k investment
ATB APR

@KaiMei Claptrap ... try reading some RNSs to get your facts straight before you start posting.
Careful someone might think you are trying to talk the price down ... 3p LOL
ATB APR

We know from 21-Dec-21 RNS that Rincon were due to restart drilling Hasties extension 10-Jan-22 and we were expecting assay results from 7x RC drills from Phase 1 at end of Jan-22 so both are now overdue.
ATB APR

IMHO Q4 production guidance and operational performance NEEDS to have been DEMONSTRATED be good otherwise Dan's position becomes untenable as he will have plain run out of excuses that any sane investor will believe.
ATB APR

@swissydog you're welcome and thanks for the feedback
ATB APR

@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

If it does bounce I'd expect a quick retrace above the Aug-2021 downtrend support currently sat at $1,790 as a healthy first step

Well it has just dropped and kissed my uptrend support line at $1,780 ... and now for the bounce ???
ATB APR

Looks like POG is going to test my drop to $1,780 long term uptrend support and rebound hard theory.
ATB APR

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

@Optimist Ironic really that Pires is mentioned as funder when GUN actually invested more. If I read the link correctly it implies that Low6 are targeting $6m new funds as part of planned IPO in US ... maybe I misread it but it does seem a very low sum given its potential ?!
ATB APR

@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

@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