CR9 28.6% 0.5¢ corella resources ltd

Ann: Corella acquires mining storage facility, page-8

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  1. 85 Posts.
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    My thoughts are this was a purchase because it came up for sale recently, not because big news was imminent. Could still be a good news story but the jury is still out for me.

    https://www.graincentral.com/news/cbh-group-to-sell-lease-13-receival-sites/

    According to CBH - the sites up for sale or lease were “no longer suitable for receiving and storing grain” and the cost to refurbish the sites is not considered to be viable for the company. CR9 due diligence has told them it is worth the purchase for Kaolin storage and handling, so could be a nice timely win going forward. Note that the imminient release of data was to support/underpin a pre-feasibility study, so the facility probably won't see too much Kaolin just yet...

    Previous market releases by CR9 outline they had interest in these sorts of facilities, although the one they mentioned in those releases was one with a rail siding. I think it would have been this one which is also currently up for lease by CBH, 40km away from Tampu:
    https://www.cbh.com.au/contact/sites-and-ports-directory/kwinana-north/mollerin




 
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