Member Info for luckyorange

Tut tut Trek , you know you shouldn't recommend other shares as they all have their quirks and sellers waiting to get out for some reason / seen something better.
Nothing is straightforward as Paul is finding out elsewhere , a lot of CEO's don't actually lie they just don't tell you the whole truth and that is what makes trading/investing such a nightmare.

You are having a laugh Bridgedogg, after all of your research eh? Buy them back and you will be abel to relax eh!
"Separate to the aforementioned potential sizeable offtake, the Company entered into two Letters of Intention ('LOI') during the period. Upon conversion of these LOIs for 32,000 tonnes per month of coking coal into formal offtake contracts, the Board believe that this could be translated to earnings of circa $1m per month. Coupled with an initial phase of production from Garalo in Q4 2021, at an initial level of 30,000oz per annum, the Board believes that an additional EBIT figure of in excess of $1m per month is realistic. This would clearly be a significant result for Contango shareholders and testament to the value of the Board's strategy of prioritising assets with the potential for rapid returns."

Just an example of why people should research before they buy , still knows nothing about the company with the final message proving that .
One little look at the CLN RNS would tell him everything he needs to know about the gold.

That's not bitcoin , is that you Craig?

If they want money then they can just get mortgages on their properties there are some great rates about at the moment ;-)
It's usually a bugger if you tap out and then ^^^^^^^ but Paul has never been happy here so it's for the best.

You have only just bought in Sharetime , patience required eh?

"The short term traders are not his concern so hope he won't pander to ideas that cost extra funds , and don't add long term value. "
I hadn't thought about it that way but that is exactly what a Dual listing would be , you nailed it TS.

They seem pretty confident on the Creswick property they bought max , they are going to clear everything at surface and then go deeper , so I'm sure that is the plan but not just to identify it but i.d. it and then get it out of the ground . It's in the interview.

Do some research Sharetime like everyone else does and then you will understand the situation. CGH owned the Lubu project and spent $20 million on proving it up and then coal became a 'dirty' word, nobody wanted it.
CGO a cash shell came along and did the RTO , they have only ever had the one name , CGH changed theirs for whatever reason.
I don't know why CGH didn't pay off their shareholders that want it but that is between them and nothing to do with Contango .
CGH Director is on the board of both due to the large shareholding that they have ended up with.
CGH shareholders will probably be a lot better off if they are patient and can get their money off CGH as Contango bought the Garalo project which prior had nothing to do with CGH .
Like I said , if you are buying into companies you really must do some homework and not rely on others to do it for you.

They will soon have 3 drills kwadoku, they have said why on the property purchases all of the information is available in RNS's and nobody can make the decision for you . Really you should research it , listen to interviews or make decisions based on future RNS's.

Something I didn't notice in the interview before , Blue Moon was discussed briefly , previous results were from RC drilling and they will revisit it . That RC drill should be a bit of a boon.

Probably what John Story held as he was known to be selling out of everything to cover his leveraged bets.

Succinctly put Bottmzup, I couldn't be bothered to reply any more , just a dirty trader calling it down when they have sold. MM's seem to be placing a bigger spread so they are the winners now and not the traders , now who bought the million at the bell on Friday ?

Nobody posts in a share without having an interest in it , you are just trading and calling it down to suit your purpose burleigh , the worst type of trader , go about your business quietly and with aplomb.

Pointless trying to work out any figures until you know what the actual offtake is going to be that is not how it works Bridgedogg you should know that . The $1mill is not revenue based on Tsingshan involvement as well .

Good points Snip.
We don't know what the drilling machinery thing is all about yet , when it was registered as a subsidiary on companies house I thought that it was probably something to do with tax, we will just have to wait for an explanation on it . As for assays I would guess that they have had some back (and sent out for fire assays?) but there are a hell of a lot of companies that haven't given results due to the back log.
Your point about Craig not being a major shareholder is a good one , he is an employee and Pi's do make up the majority of ownership . Another one is that the 'board' is so small that he can do what the likes unfettered to an extent , maybe Trevor has been brought in to redress that as well as his other role whatever that may be, lots of experience yes but will he bring money to the table , possible?
David Tang is non exec chair I don't know if he is back in China but he said in his interview that he is a money man ... yet to be proven! He has the casting vote on any 'board' decision so 3 was an imbalance, non execs never seem to do much so Craig is probably an extremely busy man fair do's , Adam second in command as he lives in Aus, but he is busy working for other companies too.

It is a frustration but lets hope all becomes clear in the near future , in the meantime the Creswick property is immediately in focus and the contractors are off to Bailieston drilling , whilst the RC drill is awaited to complete the Creswick resource drilling . It is a lot to keep up with as an observer never mind being at the sharp end on the ground , they are working their socks off and that is what it takes for something to pay off.

I don't get your point at all Burleigh , if ECR used contractors the money would disappear hand over fist and the company would be fire fighting on where to use them next or wait their turn for months for the next gap.

When you have sold you are looking for problems that are not there , it is not so subtle de-ramping however you care to portray it. Unless junior miners drill and progress then they stagnate and leak cash , at the moment the purchases can be justified .

Payback period on the drill rigs are probably very short compared to hiring in contractors .
That aside as it is spring over there and moving into summer in December contractors will be flat out . ECR have been using them over the winter period which is their quiet time.

Continued : it was at 16 minutes onwards , next step is getting the drilling results into a resource and announcing the resource , have a consultant lined up to do some work for us resource consultants are difficult to get hold of at the moment.
New geologist lined up as Exploration Manager , again saying they are very busy flat out , would guess that the new geologist will be pushing on the Creswick lease to get the soil samples in (they have done very little soil sampling in Creswick , only rock chip sampling).
Ultimately the push is on to turn Creswick into a resource , get the fencing done around the Creswick property and specifically mine out the shoots there in the first instance, owning the land makes it all workable .

Why their own drills? Because that is what he did or the previous companies that he worked for and it worked out fine for them Burleigh.
The goldfields only got busy again as the price of gold went up and availability of drilling contractors has gone down and they name the price , all pretty simple really.

Interesting that you say left field Trek . All of the sudden purchases had people thinking that it is a sign of a JV and now Craig in the interview says we can go ahead on our own , he has always been consistent in that respect i.e. if they don't come up with what we want then we will do it ourselves type and the story hasn't really changed there.
Is it a bluff or a genuine walkaway is the question , with a lot of areas pegged for exploration in Victoria whether it be detecting and small two/three man prospectors to the likes of ECR who are doing the work for the big boys to decide whether they want some of the action with their declining grades although Craig did say that is standard for the grades to be up and down.

For me the JV is always possible in the background , is it probable as that was always the plan , JV on Creswick and go it alone on Bailieston. ?
Anyway , best not to rule out a JV and there is a 50/50 chance that it will happen at the moment .

I really don't know what Trevor has been brought in for and I don't know why they have brought in a site? Manager as they already have Graeme Noble as the drilling Manager and they are also bringing in another geologist, maybe there is some staff turnover that we are unaware of otherwise it seems to be getting a bit full on the staffing side , I would assume that the hard work and hours are not for everyone .
Again for me there are more questions than answers maybe Trevor has been brought in to push the drilling supplies side of it as he was involved with the previous 'company' that didn't come to fruition on the drilling side .
Work on the ground , once they get the RC drill running on Creswick it won't take long to make some headway at a possible 250 mtrs / day to prove up with the resource.
Will listen to the interview again!