I'm liking the look of what has been announced at Yarabrook Hill...

I'm liking the look of what has been announced at Yarabrook Hill so far. I maybe wrong but I also believe there is a good chance there won't be a capital raise before the Yarabrook Hill assays are released. I say this because if management weren't confident they wouldn't bother expediting the assay results. They could happily let the market speculate for 6 weeks and slip in an easy capital raise at a good price. But in my opinion they obviously believe they have something worth assaying in a hurry. It will be very bullish if they don't do a capital raise before the assays are released.

On the other side of the coin it would be smart and prudent to raise capital before the assays are released as there are no guarantees the assays will contain reasonable grades of pge's. Even if they cap raise prior to assays being released i wouldn't necessarily take that as a bad thing. I would assess that as being smart, prudent and conservative as there are no guarantees in good assay results.

About 6 weeks ago Rumble Resources did a cap raise at 50 cents and the share price went onto higher highs after the raise and peaked at 80 cents. It was totally obvious to me that they expedited their 2 best assay results to do a major capital raise. One of the best pump and dumps I've seen. It was obvious that those 2 expedited assays would be good and the rest of the other assays would be very mediocre. I say this because historic drilling showed that where they were drilling the other assays would be very ordinary. It was so obvious they were going for a cap raise straight after releasing their 2 best expedited assayed holes. So i sold out prior to the cap raise and missed out on massive share price gains. Anyway i'm not saying Rumble aren't onto something significant. They maybe as they are spruiking they are onto a tier 1 deposit, I'm not convinced though. Anyway my point being it was a massive capital raise at 50 cents and then it peaked after the cap raise at 80 cents with a market cap of 500 million dollars. It was only last week 6 weeks after the cap raise the share price came back below the capital raise price when the other assay results were released to the market. So capital raises can be a positive quite often, thats my point. The market was bullish after a large capital raise to sophisticated investors and the herd lapped it up as a major positive and the share price ballooned.

Anyway i have bought into CPN on Friday and on open this morning, I'm sitting on a significant loss at the moment. Ahh i'm not expecting great assay results from these 2 holes. If we are onto a CHN lookalike, then like CHN their best and higher grades are reserved for massive sulphides where as CHN's more moderate grades and the large bulk of their Julimar deposit sits in disseminated sulphides. And that's what CPN have hit in these 2 holes, disseminated sulphides. So i believe the chalcopyrite (copper) mineralisation and the pentlandite (nickel) mineralisation will be very low just like CHN's disseminated sulphides the copper and nickel assays are very low. I'm hoping for moderate grades of pge's over reasonable widths. By moderate grades im talking a half a gram to 1 gram a tonne of pge's. I believe this will be enough to keep the market excited while further drilling will hopefully go onto bigger and better hits. Hopefully the down hole electromagnetics will discover decent off hole conductors. And hopefully these conductors hold massive sulphides with higher grades. It's all speculation and time will tell, this is still a risky prospect, until drilling results prove otherwise.