For context, I refer again to Sandfire (SFR:ASX). Rob in his initial Nil D announcement likened this find to SFR
In March 2009 SFR was 4c, cash on hand $2.9m with approx 100m SOI. In May 2009 they announced first large discovery and SP increase to between 40 and 60c
Here are some examples of their discovery in the June QTR 2009
DGDD‐001: 7.9m @ 27.4% Cu, 1.9g/t Au from 146.1m
2.8m @ 22.9% Cu, 0.9g/t Au from 154.0m
10.6m @ 6.5% Cu, 0.9g/t Au from 156.8m
6.1m @ 21.4% Cu, 1.7g/t Au from 175.9m
DGRC104: 26m @ 3.2% Cu from 117m and
75m @ 2.4% Cu from 160m
DGRC105: 47m @ 5.3% Cu, from 93m
DGRC101: 22m @ 3.6% Cu and 3.8g/t Au from 96m
18m @ 2.9% Cu from 126m
DGRC 109: 35m @ 6.9% Cu from 115m
Conductor 1 – Emerging Massive Sulphide Discovery North of DeGrussa
RC drilling intersects significant widths of massive sulphide mineralization at
Conductor 1, adjacent to DeGrussa, with results including:
DGRC 114: 39m @ 5.2% Cu, 1.6g/t Au from 135m
DGRC 115: 32m @ 4.6% Cu, 1.7g/t Au from 90m
DGRC 117: 32m @ 2.9% Cu, 1.3g/t Au from 294m
As at June 2009 the share price increase to $1.05
From July 2009 to Sept 2009 the SP increased from $1 to $3.50 off the back of the following highlighted results
DGDD‐001: 53.2m @ 17.3% Cu, 2.5g/t Au (DeGrussa)
25.1m @ 3.4% Cu, 1.6g/t Au (Conductor 1)
DGDD‐007: 50.1m @ 8.4% Cu, 2.9g/t Au (DeGrussa)
8.9m @ 5.0% Cu, 1.5g/t Au (Conductor 1)
DGDD‐008: 42.0m @ 6.6% Cu, 2.4g/t Au (DeGrussa)
15.6m @ 3.1% Cu, 2.5g/t Au (Conductor 1)
DGDD‐014: 9.1m @ 34.9% Cu, 3.3g/t Au (DeGrussa)
38.9m @ 4.7% Cu, 2.2g/t Au (DeGrussa)
30.0m @ 8.6% Cu, 2.8g/t Au (DeGrussa)
26.1m @ 7.3% Cu, 3.1g/t Au (Conductor 1)
Further detail available via link:
https://www.sandfire.com.au/site/PDF/6201a9d5-2f36-40d6-89ff-b29b38e1a7d5/QuarterlyActivitiesReportIn that qtr SFR raised via SPP $11.6m at $1.20 bringing their SOI to a little over 110,000,000 fully diluted.
Shortly thereafter SFR accepted a cornerstone offer from Oz Minerals and Posco for a fastrack pathway to mining. SFR was a mining operator within 3 years and paid out it's maiden dividend in early 2014.
SFR share price was $7.50 less than 18 months from initial discovery after rasing a further $100m +
There are so many comparisons to SFR, their discovery, the partners such as OZL to that of CNB today, shares on issue etc. The only items we are waiting on is similar results from the drill bit. The only thing not similar to SFR and their discovery from 2009 is the price of copper, less than $3 p/lb and gold less than $1000 on average in 09 / 2010.
Food for thought and well worth comparing CNB today to SFR from 2009 / 2010.
https://www.sandfire.com.au/site/investor/ASX-Announcements?Archive=True&ArchiveMonth=2&ArchiveQuarter=Q1&Archive6Mths=H1&ArchiveYear=2022&FilterStyle=B&month=&DisplayType=E&DisableOlderLink=True&year=2009GLTAH's
(20min delay)