Hi rice,
My CNJ SP price target is 7.5 cents (near enough!), which would be a MC of just over A$100 million, but perhaps more around August/September i.e. when the first round of assay results from Mt. Thirsty (R63/4) as well as those from the early drilling at one or more of CNJ's prospects within their 100% owned Ryberg tenement (in East Greenland), have been announced (as long as they are all good of course!).
Having said this, with GAL probably starting drilling next week at Callisto, and TAJ and his team probably also commencing exploration at Ryberg next week, I think that the CNJ SP could very well be over 4 cents within the next couple of weeks, and therefore, a SP of 7.4 cents by the start of the drilling at Mt. Thirsty (probably around mid July) could be a possibility.
With regard to the potential newsflow from CNJ in June (with regard to their upcoming drilling programs at both Mt. Thirsty and at Ryberg), I could well imagine that TAJ/CNJ will provide us with a number of encouraging updates/progress reports about the progress of both of these critical events, and once again i.e. as long as this news is good, this could easily push the CNJ SP over 4 cents.
Further to the above, by the end of June or early July, I expect that TAJ and his team will have conducted and completed an extensive rock sampling campaign, as well as a subsequent on-site data and mineralisation analysis, at at least one of CNJ's as yet totally untested prospects within Ryberg (TAJ has an XRF analyzer as well as real-time data and mineral analysis software with him). My guess is that this rock sampling analysis will most probably be from CNJ's highly interesting Pyramid prospect. I therefore expect that, if TAJ has discovered considerable and measurable surface mineralisation at Pyramid, he will announce this to the market asap.
After this, it will of course be all about the assay results from driling at Mt. Thirsty (R63/4), as well as from CNJ's various 100% owned prospects within their Ryberg and Mestersvig tenements (both in East Greenland).
It goes with saying, that if CNJ do report some exceptionally good assay results from their drilling programs at Mt. Thirsty, Ryberg and Mestersvig (or all three!), I see the SP hitting 15 cents pretty easily (MC of A$200 million), and probably before the end of this year.
Wishing you good fortune and a good weekend
Expand
(20min delay)