Cash position by end of March quarter is $5.37M; And the company's control over the Mount Morgan project would be 100% soon enough with option fee to acquire the rest 25% ownership already paid.
Feasibility study gives all in sustainable cost (AISC) ~$500 AUD per ounce compared with the spot price at ~1600 AUD per ounce, substantially high profit margin. And the placement to institutional player was at 20c at later half of 2016. The institutional player now is well underwater I guess.
And in all this falling down period, No change on the substantial holders and the directors only increased their holding.
Those are the signs of confidence. And I believe CRB will be traded above 20c soon upon some pretty announcement.
CRB Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
