MTM is hardly a good comparison.
They have been jumping from project to project over the last few years.
Yes it was 2c and when they announced acquiring a project in West Arunta, the SP went to 12c.
They have issued a bunch of new shares and did a Cr so now trading between 6c to 9c. They have 290m shares on issue, compared to CGR that has only 110m.
We have a similar share structure to WA1 and a tightly held register.
It's hard to predict the share price on a discovery. However we won't be sitting at $30m MC
WA1, AZS, WC8 are a few companies that have made discoveries and you can see what happened to their share price/market caps ( $700m MC to $2 Billion).
6 targets, will see drilling over the next year.
Sirius is the first target. This deep hole will give them an idea of what's down there (geology, structure etc). From that information it will help them to understand if they need to drill in a different location if unsuccessful or if successful and they find copper/gold, they will deploy more drill rigs to see how big it is. If you don't drill, you will never know!
The drill program/success, doesn't rely on this one target or drill hole, as they have another 5 targets (projects) to drill.
Not many companies are spoilt for choice, with so many targets that could potentially be a winner and will see drilling over the course of the year!
WA1 are an explorer. They will not be acquiring CGR imo.
If we made a IOCG discovery as an example, RIO (who are next door) or IGO (next door) or BHP, would certainly take an interest
These major mining companies are always on the hunt for IOCG deposits.
Anyway let's see what the next few months bring. Sirius could be a winner or one of the other 5 projects could be. Time will tell.
Based on the success of our neighbours, in all directions, we certainly have a good chance of finding something
We are cashed up and have a plan, with excellent data/knowledge, on being the next small cap, to make a discovery.
Good luck to everyone.
Btw - CGN stands for Copper, Gold, Nickel. If we find rare earths, they will have to add R on the end....lol
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