CNB Summary and Why Its So Undervalued, page-2729

First 2729 Last

Share
Profile

Follow
Siva108

8,860 Posts.

592

03/12/20

09:49

Post #: 49314265
Share
Originally posted by 1912: ↑

@Alijini

You are correct, however there are a couple of points I'd like to make :-

Firstly, we were advised on 16th November'20 that the initial aircore drill program had commenced in the Mallina Basin and with the labs currently taking some 6 weeks to turnaround assay results, due to the heavy demand, then even if the geo's bagged up samples for the first 5 to 10 holes within 2 weeks of commencement and had them transported from Strelley to Port Hedland and then on to Perth - some 1,700kms away - it would be around mid December before any initial results would be to hand - 2 weeks away

Secondly, if results for the first 5 to 10 holes came to hand (good or bad) it would not really provide a true representation of what may lies in the total area being drilled - remember these initial holes are being drilled either 320m or 640m apart and would represent only a tiny proportion of the total number to be drilled so we would need to wait until a decent percentage of the drill program has been completed and the results assessed.

In addition, we were advised drilling at Tick Hill was to commence during mid November'20 and again the same would apply for that program as for the Mallina Basin

Nothing has changed - we have areas to drill in the sizeable Mallina Basin where DeGrey have found a very large gold deposit and also at Tick Hill which was one of Australia's highest grade gold mines ... not forgetting about the high grade copper ore that is present at Tick Hill as well ... that will be drilled later ... any of which could be a very large Company maker and substantially increase our market cap which currently is a paltry $41m.

Patience required - whilst there have been some big movements in the share price I don't think this is for the day traders who are showing some frustration.

GLTA

Expand

AC drilling commenced mid october not mid nov...
CNB Price at posting: 36.0¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

What's causing the cost-of-living crisis, and how to navigate it

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint