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Today, £284.8 million paid for BCN by Ganfeng per FT = US$ 3 9 3 million.
Today*s exchange rate is £1=US$1.38.

The NPV for Sonora Lithium quoted in an earlier post today on this forum at US$1.25 bn comes from a 2018 Scoping Study for 1 0 0 % of the project. Given BCN now only owns 50% of the Sonora Lithium project, Mexico , it would equate US$625m. The NPV $1.25bn is PRE-TAX. I understand a small part of the project falls into the KDNC JV part? Others can exemplify the pro-rata. For history now.

From the FT today about the BCN - Ganfeng offer.
"Ganfeng has said it has secured a letter from M & G which owns 14% of the co. Ganfeng which needs 50% of shareholders to support the deal, already owns 29% of Bacanora."

Premium rises to 63% with the additional shares in Zinnwald. Values BCN at £284.8 Million.

To read, call up the title.

Translated into English: "Lithium rush in Zinnwald."-Freie Presse, 1 hr ago, Wed, 25 Aug 2021.
To read, call up the German title in the header.
Its about BCN-Zinnwald etc.
Relevant to Bacanora Lithium as the offer for Bacanora Lithium today involves getting 0.2358 shares of Zinnwald for every Bacanora share [RNS, 25 Aug 2021]

Today, Mr Colin Bird, Executive Chairman, XTR bought 2.054 million shares @3.5p to bring his total holding to 14.58m shares. The last time Mr Bird bought was at 5.7p @1m shares.

Mkt Cap: £30.6m @ 3.63p
H 9.2p & L 3.6p [52 wk]

Mon, 23 Aug 2021.

The XTR RNS of today statd that Mr Thygesen, the new Non-Executive Director [74] is from NM Rothschild and has experience in the natural resources industry. His experience is also from IVANHOE wherein Rio acquired Oyu Tolgoi from Ivanhoe. Sourced from the said RNS.

Colin Bird, Executive Chairman said contribution to corporate & M & A... re: Mr Thygesen*s appointment.

An interesting move given the calibre of Mr Thygesen*s C.V.

SI Capital Note 12 Jan 2021 can be viewed on the Castillo Copper website under Analyst Note.
It was written by Charlie Stephenson, Geologist. It sets out Big One, Arya & 7 other targets.
It also sets out the trucking option. Until the Big One has an initial JORC it is too premature for development. It is fully explained. Given Arya is potentially what could be the "biggest discovery in Queensland in decades" & also said so by SI Capital, that is the next catalyst awaited for. Ged Hall, Director, Castillo Copper stated this about Arya in a very recent audio interview. To view, scroll a few pages back on this forum and it is the subject of a title header. Adding to the convo.
Any similar examples? At Bushrangers, Australia, the same is happening - they model and the MRE as and when drilling has finished will be the 1st step to get an idea of what*s there.
Fri, 20 Aug 2021.

LoL.
The market already knew. It had hit £2.80. Then, day before, it hit £2.81.
Indicative of what was to come. But now can comment as it is HISTORIC given that £2.85 has now been made known. Bloomberg was correct in their report today that a bid would or could be tabled today, Thur, 19 Aug 2021 [deadline 5pm, 20 Aug 2021].

Hole 11:
673m depth reached
512m Visible Copper from 110m.

Hole 12:
498.4m depth.
187m Visible Copper from 240-391m.

RNS today, Thur, 19 Aug 2021.

As tweeted by Castillo Copper on 13 Aug 2021:
"Economic intercepts ...to extend mineralisation and begin JORC MODELLING for the HIGH GRADE BIG ONE RESOURCE."

ASSAY RESULTS AWAITED.

Comment:
W I T H assay results, JORC C A N BE MODELLED and put together with the previous results.

ARYA
The listing of Castillo Copper in London was done per Mr Paull in an interview with Samso as London investors would be interested in drilling a BIG ANOMALY which is Arya.

All investors ae interested in BIG ANOMALY DRILLING per Lassonde curve as it adds perceived value.

The Big One*s JORC is being modelled and ARYA IS A T E S T D R I L L.

Hope that ANSWERS and is helpful.

Any example? Yes, lots - Alpala was drilled but more prospects are being drilled nearby and elsewhere.
Havieron - other prospects are being drilled at Black Hills, Goliath etc nearby.
BHP - Olympic Dam - drilling nearby .
ITS THE BIG ANOMALIES THAT BRING IN INVESTOR INTEREST & ULTIMATELY POTENTIAL LASSONDE CURVE DISCOVERY?

That is what the market wants as in the above example/s and the Castillo London listing was for that PURPOSE ie to drill Arya.

Thur, 19 Aug 2021.

ARYA-QUEENSLAND, OZ
The above to be drilled "shortly" given logistics is readied is the one everyone will be watching.
In the latest RNS, it said that the prospect could be much shallower at 100-200m vs 430m.
In addition, there is a quiet area near Arya which is good given that Arya is a potentially huge anomaly.

With the recent appointment of a Non-Executive Director, Mr Geoff Read, Geo [C.V includes Mining Geo at the world class Mt Isa mine/Xstrata in Mt Isa, Queensland, this is helpful going forward into the Arya drill [Mt Isa, Qld belt].

LASSONDE CURVE
Given the title of this thread which is verbatim from Mr Ged Hall, Director in an audio interview recently, a potential discovery at Arya would be potentially Lassonde Curve stuff.
The initial drills are test drills at Arya which is expected to be in Sep 2021? The date is awaited for the start of drill or started? Per Lassonde Curve, discovery is where the market attributes value perceived. Example? Havieron drilled by a major wherein the discovery led to value perception etc per the Lassonde Curve.

For me, this is what I am waiting for given it is not everyday that a large anomaly is drilled. But with all anomalies, the litmus test is the DRILLING of the initial holes and further to that. With havieron the co is also looking at satellite prospects given the Lassonde Curve.

CCZ not only has the BIG ONE but 7 other prospects in the licence including ARYA. SI Capital in their Jan 2021 broker note explained it in detail as to the Big One and other prospects INCLUDING ARYA.

Wed, 18 Aug 2021.

The above was tweeted by Castillo Copper on 13 Aug 2021:
"Leveraging Discovery at the Big One:
Economic intercepts spur geophysics campaign to extend mineralisation and
begin modelling JORC compliant resource for the High Grade Big One resource."
https://twitter.com/CastilloCopper

TODATE: Summary
Castillo Copper is awaiting assays to come back from the lab. I read that the labs are busy.
One is aware that in many of the hot exploration areas eg Mt Isa, Queensland where Castillo is drilling, many co*s are also active. From other co*s one knows this is also the case in other hot spots.

Whilst the Big One is being modelled for JORC once the results come in. The deposit is shallow & common to ALL such deposits, it may be that further pits are needed depending on the results. Those following the Racecourse drill at Lachlan Fold, NSW, Australia will be cognisant of this given it is also a shallow deposit. At Havieron, Newcrest is drilling and the deposit is a deeper one but nevertheless, they are still drilling to extend the known initial discovery. That is the nature of drilling etc.

ARYA
That is a nearbyish prospect to the Big One, Queensland, Australia and with a large anomaly, it will be tested drilled in Sep 2021 from what I understand thus far.

MINING LICENCE
Given the licence to be applied for is in Australia, there has been no public info as to how long it will take in this particular case. For many of the deposits, example Alpala the deposit already has a MRE [more than 1] and still awaiting PFS. So, common to all discoveries, until it progresses further, one cant start mining even if one could get a mining licence tomorrow.
So, applying for a licence in tandem seems to be sensible given this is a Tier 1 jurisdiction.

COVID 19 RESTRICTIONS
Australia in various parts are under lockdown and one reads that the lockdown means that one cannot travel more than 5km from home etc. So, given this situation, one will understand that things are taking much longer than norm, hence not surprised at the labs situ.

SATELLITE PROSPECTS
Even the CAPRICORN COPPER MINE [Owen Hegarty*s 29M $1bn mkt cap] and Lady Annie does NOT CONSIST of 1 deposit which is nearby to CCZ*s Big One.

Exploration is a much longer game as common to all prospects.

Thanks to Turbo911 for the link below of an audio interview with Mr Geoff Read, Geologist who is the new appointee to the Castillo Copper board.

Mr Read:
"Mt Isa region-incredibly exciting - most challenging OPPORTUNITIES that I have ever seen.
Expanding the OUTSTANDING RESULTS already achieved in Australia & Zambia."
Mr Read also said he worked at major mines. Mr Read also has experience at Broken Hill wherein Castillo Copper is looking to spin out their licence as an IPO on ASX.
Of interest coming at a time PRIOR to the Arya prospect, Qld, Oz drilling.
Mon, 16 Aug 2021.

Castillo Copper has appointed a new director who is a Geologist with >25 yrs experience. Mr Geoff Read is experienced in copper gold projects across Mt ISA. Prior to his own consultancy in 2008, Mr Read was a Geologist at Mt Isa Mines [MIM]/Xstrata & Pasminco/Perilya in Broken Hill. Mr Hill is a Competent Person, qualified person re: JORC.

The above news has been very well received in Australian listed Castillo Copper with the shares up 2.5%+ last night. Not ONE person is not enthusiastic about the appointment from their Oz forum who may include Geo*s?

Mt Isa Mine [MIM] is the largest in Queensland, Australia where CCZ*s Big One & Arya is situated.
Glencore now owns the mine from what I understand.

--------------DAVID LENIGAS, Founder of REM plc---------
=HYDROGEN ONE
I have just seen a tweet by Mr Lenigas today, Sun, 15 Aug 2021 saying that he has been asked to run a public listed co called Hydrogen One. He says that hydrogen is the future. Twiggy of Australia [one of the richest men in Oz who founded Fortescue] also is going into hydrogen.
Interesting as REM plc started in lithium for clean energy also.

Sun, 15 Aug 2021.
Just mentioning what Mr Lenigas is doing given he has NOT run any public listed co actively for some time after REM plc.

Experienced investors may be aware from other deposits like Havieron, some assay results may be better than others with some of higher grades. When the MRE is calculated, the grades AVERAGES out.

For the nearby Capricorn copper mine near Castillo Copper's Big One, Queensland, Australia, I have posted from their presentation which shows the significant intervals with grades but not all shown as norm per the diagram. At the end of the day, it will be the MRE or JORC as the case may be with further upgrades if any.

Both Capricorn copper mine , Lady Annie, also near CCZ*s Big One does NOT consist of just 1 deposit but SEVERAL. Reason? Hence, CCZ also mentioned all the other deposits on their Qld ,Australia licence which includes ARYA.

Geology Charlie [Charlie Stephenson, Geologist at SI Capital] in his Jan 2021 broker note also makes mention of this about Big One and potentially OTHER TARGETS etc. I have posted this before. Geology Charlie starts his said note by saying that at the Big One etc, it low grade halo with supergene and hypogene [surface & deeper]. To read, just go to Castillo Copper 's website & click Analyst Report to read and check.

Sun, 15 Aug 2021. DYOR.

Castillo Copper, Fri, 13 Aug 2021 tweet:
"LEVERAGING DISCOVERY AT BIG ONE.
E c o n o m i c intercepts spur geophysics campaign to extend mineralisation & begin
modeling J O R C compliant resource for the HIGH GRADE BIG ONE DEPOSIT."
[Embedded with screenshot of the details]
https://twitter.com/CastilloCopper/status/1426103243810250754

SAMSO of Australia interviewed Mr Paull, CEO, CCZ relating to Castillo seeking DUAL-LISTING in London. [Ref: Coffee with Samso - audio interview]

Link: https://www.samso.com.au/post/castillo-copper-limited-asx-ccz-coffee-with-samso-episode-22

Per Mr Paull, he said that the London listing of Castillo was for the "SIZEABLE ANOMALY-surface chips." This would naturally and logically refer to CCZ*s ARYA prospect in Queensland, Australia.
==
I read another article by Samso in a Proactive Investors article in which he talked about several Australian co*s including Castillo. This is what he said:

"The Gunpowder deposits , there are too many deposits to descibe but recent NEWS BY CASTILLO & OWEN HARGARTY led CAPRICORN has SPARKED MY INTEREST IN THIS REGION."

Samso is a Geo of 30 yrs experience & from the last time I looked at his Linkedin, Noel Ong worked as a Geo at Galaxy which is one of the prominent lithium co*s on ASX.

So, even more so, now that Owen Hargarty has IPO*ed Capricorn into his 29 Metals ASX co with a $1bn mkt cap which includes 1 more mine in WA, Australia & Chile.

So, it would appear that the Arya prospect is one which would interest London investors?

Thur, 12 Aug 2021.

P.S.
CCZ* RNS of 9 Aug 2021 said that their Geophysicist Consultant has re-interpreted the data and found Arya more SHALLOW and that there is another "Quiet Area" near Arya.
Wed, 11 Aug 2021.

"Podcast 92: Charlie the GEO-Stockbox Media."
Link: https://stockboxmedia.com/podcasts/charlie-the-geo-3/
Castillo Copper around the 1/2 way mark. Before Castillo, it was Rincorn.

From what I could hear:
"SIMILAR THING. Charlie Stephenson, Geo was talking about Newcrest and I think it was about Havieron. GGP picked up Havieron from a 3rd party who was Founder of Kidson from recall. However, Newcrest originally owned Havieron and the HOLES they drilled MISSED the higher grades. Today, its history with Newcrest*s CEO saying Paterson has never seen grades like that of Havieron. Thats the background BEFORE Charlie started on Castillo Copper convo.

"SIMILAR THING. Castillo Copper drills turning. Pretty exciting. A no of targets LEFT BY MAJORS.
ARYA relatively deep 430m SIZE OF ANOMALY IS H U G E , huge extension with FOLDS. Indicators FLUID movement could be mineralised. Hypothesis not their own - historic data. EXCITING TIME."

As I said today, its not everyday one gets to have an opportunity at an Australian anomaly of size. If it turns out , it will be exciting indeed. As with all prospects, ONLY THE DRILL will prove the deposit or NOT? As with Havieron, GGP drilled 9 holes and as norm some were higher grades and some not as high. Again, Charlie is saying that Arya is also one left by majors just like Havieron. Now, Newcrest Telfer mine is saved by Havieron as the ore is running out at Telfer. After 9 holes, Newcrest did a JV at Havieron but investors did not think it was good enough although the CEO said the industry rang him to congratulate him.

dvharrison
I have posted from SI Capital Broker Note of 12 Jan 2021 relating to Arya.
Ged Hall, Director, CCZ on 9 Aug 2021 stated the same except for 1 small change of words ie decades vs recent yrs, latter from SI Capital note. The CCZ 9 Aug 2021 RNS was the further re-interpretation of Arya from the Consultant Geophysicist in that it is SHALLOWER & there is ANOTHER QUIET AREA.

Personally, it was better than I had expected as shallower is always better in the 1st instance + another quiet area near Arya = Bonus.

One thing NO ONE can guarantee with ANY EXPLORATION project. ALL ANOMALIES HAVE TO BE TEST-DRILLED. As SI Capital pointed out, the test-drill will be the START? There are 3 targets at Arya EG01, EG02 & EG10. So, will the initial test-drill test ALL three targets or just one? Will have to wait to see.

Charlie Stephenson*s SI broker note gives the details about AYRA which is quoted in my post below today @12:04.

Therefore, as an INVESTOR, I have to rely on both the co*s Consultant Geophysicist & SI Capital Broker Note of Jan 2021 [latest available] as a pointer with qualifications etc inc risks as norm.

Yes, I have invested in other copper projects & I have had to rely on these reports. If one has a big stake eg 3-6% or more, then one can hire a personal geo of renown or specialist geo consultancy specialising in that area. People like Sprott have very senior people doing all this work and they are very well qualified together with experience to help the firm navigate the data.

This will be my 4th co ie copper [or copper/gold] that I have invested in among this category although the others were porphyries. Each one had the POTENTIAL to be big or Tier 1/soft Tier 1. I am sure others know what the co*s are as they were ones of note.

So, I am hoping that the geophysical work and all the data plus the said report will potentially be proven right upon the DRILL. The drilling at Arya will not be just the 1 but has to go on with at least a few more holes thereafter in the said SI note etc.

So, one can hope that this will be the POTENTIAL REALISED etc? Proof will come in the drill as norm. SP Angel reported on CCZ*s 8 Aug 2021 RNS and they too said that they are looking forward to the results [para phrased] in their conclusion. Call up the title Proactive Investors UK, CCZ: Today*s Market View, 9 Aug 2021.

News, 11 Aug 2021.