The waiting period involved with regulatory approval for a drilling campaign can be a pain in the proverbial, however I am anticipating that this week the news we have all been waiting for will be delivered and drilling at Cangai can commence. IMHO this second round of drilling will give the company a clearer understanding of the resource grade and size the company is dealing with.
It's an extremely exciting time for holders particularly as this round of drilling attacks known supergene targets and big conductors so IMO if assays return high grades hits which is very likely with presence of Supergene the market cap will rerate significantly !
Importantly in my assessment of the company's projects before investing I noted there is no sovereign risk as Cangai Copper mine along with Brokenhill Cobalt are based right here in Australia . Also transportation infrastructure and logistics are pretty damn good with a railway network that connects to Newcastle port which is set up perfectly for when Cangai mine reopens IMO.
Worth remembering is this deposit has a Jorc compliant inferred resource of 3.2 million tons grading 3.35% which is one of the highest in Aust and I'm expecting this round of drilling to significantly build on this . GLTAH
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Mkt cap ! $6.498M |
Open | High | Low | Value | Volume |
0.6¢ | 0.6¢ | 0.5¢ | $15.13K | 2.966M |
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No. | Vol. | Price($) |
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3 | 435899 | 0.5¢ |
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Price($) | Vol. | No. |
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0.6¢ | 1289357 | 2 |
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30 | 12346362 | 0.004 |
10 | 5676998 | 0.003 |
11 | 8459429 | 0.002 |
9 | 10052005 | 0.001 |
Price($) | Vol. | No. |
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0.007 | 4510087 | 10 |
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