Cheers for that Macca.
Perhaps nothing overly new in the video, but she spoke well.
CAI:
People - tick
Project - tick (but... I think Tier 3 (with the potential to achieve Tier 2 with the right discoveries)
Strategy - tick (low cost, 100k+ p.a production target) with bolt on acquisitions where possible.
Promotion - tick - better than most
Cost of capital - tick (with the caveat that they don't require a further raising, as one cannot keep saying fully funded, yet.... raise)
- I do like her point about managements ability to pick when to raise, and how much to raise. CAI have done this well. RED5.... no...
Catalysts - Tick - As good as any developer
Just my rough attempt at the 'wheel' of development value.
My Wish list - over the coming months, start undertaking very small, targeted exploration on the many targets they have deliniated (but has to be low cost) and infill drilling, as most here agree that the main pit is still not fully fleshed out (
@markyess explains it better above), and in the end, surely they would be the cheapest ounces to convert in the open pit? Plus, small aircore campaigns. I know infill and extensional drilling is rarely exciting, but... I want CAI to run like a business first, then a gold explorer. There is a reason NST/SAR etc have made their shareholders exceptional returns.
I will disagree with you a little Macca regarding GOR. It is valued extremely highly, yet is a single mine asset (though to complicate matters, it is run by a major gold producer, so perhaps... it deserves a premium, but not.... a 6-700% premium to CAI (once CAI hits production and actually meets the DFS (as you mention), which, sadly few developers achieve))
I do have to agree with the video presenter regarding grade and risk.... its always, always always the biggest risk to any project and company. I give CAI a much higher chance of success, because it has done so much infill drilling, plus its conservative modeling. CMM has done similar work to ensure that its first year of production, is based on proven grade.
Good luck to all holders.
(20min delay)