Thought I would share some research I carried out today.As per my post last week, I'm not sure the market has understood the enormous announcement and the huge upside that will surely will come once people have fully digested CTM announcement from last week.
I have looked at some of the mid tier stocks from WA ,excluding the majors BHP,IGO
I have looked at Metal Ni Resources to Market Cap.
Western Areas-752 kt ,Market Cap $610m
Panaoramic-220 kt, Market Cap $210m
Mincor-165 kt,Market Cap $170m
Poseidon-390 kt,Market Cap $120m
Centaurus 315 kt,Market Cap $24m ( Measured and Indicated)And it's open along strike and down dip !!!
55,000 diamond drilling has been completed & CTM are engaging independent resources specialist to review and update the resources to JORC compliance.
We cannot compare totally CTM Market Cap as we do not have mining infrastructure and we are at resource.
The above stocks are all Nickel Sulphide,and there is very limited projects of Ni Sulphide globally.
I looked at St George best Intersection 17m @ 3.0%Ni their Market Cap is $60m
CTM best Intersection is 34m @ 3.3% and 42m@ 2.20%, our Market Cap is $24m .Not for long I suggest !!!
Plus reviewing CTM announcements ,ours Ni is near surface,is open pit and is high grade !!!Also we had 7.9m at 5.27% from 247m with the nearest drill hole more than 250m away.There is huge exploration upside I would suggest.
Reminder Roger our Exploration Manager is a Nickel Guru, and has had previously found significant Ni in Brazil .Newly Appt Board Member Chris Banasik is formerly from WMC and also a expert in Nickel .Chris just visited the site in Brazil two weeks ago.
All CTM Ni is all within 300m of surface.The Aust mines mentioned above are around 100m from surface.
I agree, not totally Apples with Apples, but the difference in MC should not be as currently is Current price of CTM IMHO opinion must increase.I did purchase again today, especially after completing the above due diligence.
Remember to do your own research,and GLTAH
The risk to return ratio for me was simply a no brainer, Time will tell if I'm correct, but as always I back my judgement !!! Hopefully I have created some positive following threads!!!
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