With respect to this announcement I tend to agree with you. The headlines probably belie the results to come. Why drill the hole so close to the other? A director's special perhaps but with its neighbour at 0.4% Cu it's unlikely to be very special. Other holes in the deposit do show variability over 50-100m so who knows? A few drill holes close to surface would give an indication of the potential for an open pit resource. The presence of near-surface mining voids is noted on cross-sections.
They have however had some good intercepts with only lukewarm response which I don't understand. Perhaps it is felt that those intercepts are not going to result in an MRE of reasonable tonnes. It is hard to visualise the mineralisation from the little information presented.
A quick scan of Max Tuesley's background suggests someone with broad geological experience but new to running a company.
Compare CPO results for a $7M market cap with the imaginative stuff that CCZ puts out for $25M+ market cap.
The location of the deposit is perhaps problematic - getting sufficient water and power from the already stretched infrastructure of that area of Chile.
CPO Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
