I still hold and follow with interest. I have every confidence that Carnaby are working hard to generate a near term mining project with positive cash flow. These guys are professionals are there are no shenanigans.
Exploration continues and new discoveries are very likely. Perhaps the market now expects 100,000 tonne of copper discoveries rather than million tonnes.
The big recovery is more likely when positive cash flow production is demonstrated. Trekelano was purchased to assist with this. Toll treatment is the way to low capital rapid production and Carnaby are progressing well down that journey .
If I had to express any negatives it would be that they probably paid too much for the Hammer deal and that the Pilbara gold projects could be farmed out for a large expenditure commitment rather than sitting idle.
DYOR Not investment advice
CNB Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
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