I’m not saying it doesn’t make sense, just that you can only buy...

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Coffeekick

85 Posts.

76

09/02/23

18:13

Post #: 66164868
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Originally posted by SaltyWhomper07: ↑

“My thoughts are this was a purchase because it came up for sale recently, not because big news was imminent…” to buy a facility like this just because “it came up for sale” and use approx. 10% of an explorers available cash would be potentially negligent on behalf of BoD and Mgt in my view.

Within the announcement if it’s read in full, it is stated the assays and Scoping Study is imminent, so would suggest there is a string belief in what’s already in the ground (At least Aust’s largest and purest kaolin) and what the assay’s will soon tell us either confirm or add further value to the project.

The Tampu facility is perfect as it immediately for accommodation for development phase, is in a perfect location for wet screen and then transport to port.

CR9 if it goes the distance won't be moving iron ore tonnage so rail as an option is probably not necessary.

in addition, the ease of mining a shallow open pit and the volumes CR9 will possibly mine based on the current market demand means, CR9 should it go into production will most likely campaign mine (continuous mining won't be required) so storage is a huge positive.

Given the continue supply issues for construction materials, permitting / approvals from shire etc, this is an asset purchased at significant ‘unders’ and is a great indication of what the confidence BoD and Mgt have in the project

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I’m not saying it doesn’t make sense, just that you can only buy something when it is for sale, and only having a window of a month or two to submit an expression of interest for the property means they might have been forced to buy it earlier than they would have otherwise done. Sorry for having an opinion different to yours

CR9 Price at posting: 3.8¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 1.3¢		Change -0.001(7.14%)		Mkt cap ! $6.046M

Open	High	Low	Value	Volume
1.4¢	1.4¢	1.3¢	$2.049K	148.2K

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No.	Vol.	Price($)
1	423076	1.3¢

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Price($)	Vol.	No.
1.4¢	61506	1

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No.	Vol.	Price($)
1	423076	0.013
2	431666	0.012
1	100000	0.011
4	1540000	0.010
1	120000	0.008

Price($)	Vol.	No.
0.014	61506	1
0.017	80000	1
0.019	102708	1
0.020	151371	3
0.026	500000	1

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I’m not saying it doesn’t make sense, just that you can only buy...

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I’m not saying it doesn’t make sense, just that you can only buy...

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