Member Info for aprogerson

Nice update
ATB APR

@news So to paraphrase CCZ picked up 2x options on prime Aussie Lithium real estate for next to nothing and only have to pay out if they find something of significant scale AND grade matching their neighbours Core's Finniss project and/or go into production when a 2% NSR will be due?

So the only risk/cost CCZ carry until then is the cost of exploration; if CCZ declare a JORC to match/exceed Finniss then I'd expect a very healthy uplift to the SP.
ATB APR

@edgar Looks like the 3 lines From H1 (end Jun-21) report that indicate near term revenue are:

· Test results indicate gravity separation to be a viable production method for processing material from MJ spoil heaps
· 51 spoil heaps now identified covering 14,000m²
· Consultant Metallurgist engaged to prepare specifications and detailed costing for proposed processing operations

Post period End:
> Strong cash position
> Design of process operation to be progressed over winter
> Strong exploration results at Rock House, Olympic Gold and particularly OMCO mine extension
ATB APR

@Gino @Addicknt I'm not sure I understand the "strategic" logic here given CCZ are looking to divest Broken Hill on concentrate on Copper and in the next breath take-up 90-day options on 2x admittedly prospective Lithium projects. Surely better to focus on Big One/Arya before splitting one focus and adding more things to do?

Don't get me wrong I like Lithium and these assets look good, but the timing sucks
ATB APR

Fab RNS with 2 new mining concessions granted adjacent to existing contract areas with considerable copper. Moly and 30koz gold/annum. Even swapping out of the Soutely concession I think will be interpreted as a good thing given that it may have a big gold mine but no infrastructure so removing $200-300m liability needed to exploit it ... even if it were safe to do so which seems highly unlikely.
Good news all around ... market will need to digest as a lot information to take on, but new mining concessions next to existing infrastructure is a massive potential boost here
ATB APR

Hallelujah
ATB APR

Nice RNS ....
1) Big One - balance of assay result confirmed due next week (end Sept)
2) Arya - drilling rig, equipment and team mobilising for end Sept drilling programme start
3) Zambia - Complete the IP survey at the Luanshya and Mkushi Projects and analyse the results

Fingers crossed that CCZ SP now shows some more positive life !
ATB APR

@devil PLease see Rincon presentation and revised drill/exploration programme across 3x projects https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02415571-6A1048135?access_token=83ff96335c2d45a094df02a206a39ff4

We await drill assays back from lab from Phase 1 of 5km RC drilling at South Telfer project.

Rincon is A$11.8m valuation of which A$6.4m is cash so fantastic cash position and exploration programme moving at pace across all 3 prospects. Enterprise value (Taking off cash) is only £3m which is absolutely bonkers given where it is in Paterson region and 14km from Telfer. Adding where I can!
ATB APR

@Loot Simply the RNS says to me that they are progressing at pace on all fronts namely Big One, Arya & Zambian exploration plus Broken Hill divestment as they set out in their Jun-21 RNS when they raised £6.4m cash to accelerate the 2021 programme.

I also agree that any ore from Big One will be used to produce a revenue stream to full/part fund further exploration particularly if the initial Arya drill programme hits anything of note, but as you point out this is high risk/high reward stuff. I am also of the view with BRokjen Hill taht divestment is by far the best route forward as I rather have say 10% of a valuable asset than 100% of nothing that otherwise would potentially drains cash from CCZ better used on other nearer term projects.
ATB APR

@mcadder If you wrote down the ideal conditions for a sustained gold rally they would be:
> negative real interest rates = real interest rate @0.1% - inflation @ sustained high
> weak dollar
> major geopolitical risks/issues
> high and/or unsustainable governments debts and/or spending = both !

Cost of mining and/or scarcity of future resources not really an issue with gold supply as gold isn't really consumed and 99%+ of gold supply is already above ground in vaults.

Gold tends to sell off when any major calamity strikes but then rallies after major events and keeps going!
... just not sure how long we have to wait for gold rally or put it another way 'when' it really moves it will 'really' move!
ATB APR

Hi Shorn,
Correct on all 4 points and also CCZ is well funded following cash raise earlier in the year to accelerate exploration at Big One and Arya plus push on with Zambian early stage exploration via soil sampling/geophysics particularly around their Luanshya Project, 6/10km south of China Nonferrous Mining Corp 3x mines. If Luanshya can be proved up there will be a ready buyer just next door!

Broken Hill divestment still needs clarification as unsure what is in it for existing shareholders other than an opportunity to buy in cheaper at the IPO ... my preference would be that CCZ retains an interest.

I am still undecided wrt to the Big One as although it is very high grade the continuity and scale seems modest ... hopefully I'll be proved wrong! IMHO Arya and Luanshya is what keeps me interested in CCZ
ATB APR

Must have liked what Powell had to say then as dollar also took a dive
ATB APR

Hi @chisler Good to see some encouraging drill results come through on the last RNS, but perplexed by the OMCO extension announcement indicating that it has been found given signs of historic mining and lack of news around small production facility progress.

Still heavily invested here and clearly holding
ATB APR

@Tom Very dramatic but untrue. Still heavily invested and awaiting balance of drilling results
ATB APR

Latest RNS is very good news ... effective extension of Gedabek LOM is always welcome
ATB APR

Price is breaking out from triangle pattern from last Wednesdays drop to 0.155p low to above 0.175p breakout today so hopefully will close above this price.
ATB APR

Broken Hill divestment is unequivocal good news for several reasons:
> CCZ retain meaningful stake = NewCo an asset it could later choose to sell if required
> Spinning out BH means that CCZ can focus management time & resources on 3 copper pillars not 'other stuff'
> Broken Hill IPO will have a cash raise as a separate entity rather than using CCZ funds
> Any mgt and licence maintenance costs borne by CCZ to date for Broken Hill cease at point of NewCo spin-out
> If successful could be a model for Zambian or other interests in due course to release value

Not sure how CCZ will administer discounted shares for CCZ owners but sentiment is laudable !
ATB APR

Latest Rincon presentation https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02402560-6A1044057?access_token=83ff96335c2d45a094df02a206a39ff4

@techtonic Laverton drilling results have been underwhelming so far plus confirmation that Hasties is probably 2-3 months behind where they wanted to be schedule wise hence the steep drop in recent weeks.

Nothing has changed except that I have been using recent drop as fantastic buying opportunity on ASX so now over 0.5% held directly plus what I have indirectly via GUN. Rincon has stated they are looking for 1Moz+ deposit as Hasties so A$11m valuation or £6m seems a solid buy to me especially when their cashflow report shows A$4.4m in the bank at 30-Jun-2021 or 5.4 quarters at current rate of spend which should get them to MRE for end Q2 2022 as per their stated plan.

I do love ASX reporting ... far more open and informative than AIM plus the recent drop is a real gift!
ATB APR

@Loot Normally threshold for copper play commercialisation would be quite high as plant capital costs are high unless they can use local toll processing in which case it is just camp and dig costs hence why shallow high grade at scale would be really good news.

Zambian copper plays make money at 0.5% copper grade so IF CCZ can partner for local ore processing then viability far more likely than not. Supergene grades mean much lower costs as you are digging, transporting and processing far less material for a far bigger metal content.
ATB APR