ASX:CGU - Market Cap ~ $2 million (34 million shares) 52 Week High (0.085) Listed: 2 September 2011 @ 20 cents, no debt!
-portfolio of projects in the Lachlan Fold Belt of New South Wales (http://en.wikipedia.org/wiki/Lachlan_Fold_Belt) including Cowarra, Oberon, Dalton all being drilled
[The Lachlan Fold Belt has a long history of mineral production including gold (Au), copper (Cu), lead (Pb), zinc (Zn), silver (Ag) and tin (Sn). The potential for new discoveries in the Lachlan Fold Belt is high, and the scientific input from the project played a leading role in focussing exploration effort.
St Barbara ($1.39) has established a significant ground position over the concealed northern extensions of the Lachlan Fold Belt, near the town of Nyngan, where it is covered by sediments of the Great Artesian Basin. Further south, the Lachlan Fold Belt hosts several major copper-gold deposits of Phanerozoic age, each with specific magnetic and gravity signatures.]
-Newcrest Marsden deposit in Lachlan Fold Belt as well as Alkane Resources Tomingley deposit.
-North, Central, and South Peru is the best part in my opinion, community supported, Polymetallic Au-Ag-Cu-Pb-Zn mineralisation, 17,000 ha exploration etc.
-forecast to generate around US$700,000 per annum over the next 10 years (post Peruvian tax) @ cash cost of only $370 dollars an ounce
-expects to more than double the rate of production through the Mollehuaca to 60,000 tonnes per annum by the end of March 2013
**Total investment in Peru will be recouped via this method**
-Top 20 hold 69% of the stock: including Executive Chairman Chris Battye who is the top holder with 22% of the issued capital, followed by real estate mogul turned resource investor Duncan Hardie with 19%
CGU Price at posting:
4.5¢ Sentiment: LT Buy Disclosure: Held
