RE: "REVISION OF PRICE TARGET TO 12.91P."14 Apr 2021 21:09
And the degree of progress under the new regime here, in such a relatively short space of time, much of it covered by the pandemic, has been simply breathtaking, and shows just how good the new management here is.
Here's a brief summary:
1. MAMBARE NICKEL-COBALT PROJECT.
The historic partner dispute has been settled, and the first exploration work conducted there for nearly a decade.
This is clearly a quite massive leap forward.
All the costs, time, and uncertainty of the dispute have been removed, and with it the risk of CRCL potentially losing the project entirely, which can sometimes happen in a dispute.
And the partners, instead of burning their time and money fighting over the project, are now instead working together to progress the project.
This is clearly infinitely better.
2. WO WO GAP NICKEL-COBALT PROJECT.
Acquisition of debt that could well be used as leverage to acquire some/all of the Wo Wo project from RMI, who last month acquired a nickel project in Tanzania.
An independent valuation of the WoWo Gap project was conducted in 2009 and valued the project at AUD 168m. But that was at the bottom of the mining cycle, so the potential valuation now is far higher.
3. BURWELL BATTERY STORAGE & SOLAR PROJECT.
Acquisition of the Burwell battery storage & solar project, completion of a positive project economic review, and receipt of both planning permission and a grid connection for the project.
4. DEMPSTER VANADIUM PROJECT IN THE YUKON, CANADA
Exploration program conducted which yielded exceptionally good results, to provide multiple accessible targets for near term drilling.
You get what you pay for, so I would prefer that the company pays a fair price for great management, rather than a great price for mediocre management.
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