In the Chairman's Letter section of the prospectus, they effectively say that they don't think Blackwood is a viable project, and will look to move away from it.
"Whilst the Blackwood Gold Project returned a number of high-grade gold intersections in the recent drilling program, the Company’s previous strategy of drilling out a small, but high-grade gold resource for mining, has not in the view of the new management team, borne the results needed for Cauldron to take the project forward. Management will now consider opportunities for divestment and joint venture."
CXU Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
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