On top of the nonstop back to back Cobalt drill programs, this definitely floats my boat:
Given the current strike length alone was underpinning the 15-25MT at 1-2% exploration target, the chance to quadruple it is a very big deal. Yes it may not continue the whole way but the nearby Nemaska and GXY deposits pushing close to 50MT each at very high grades prove how possible it is. Interestingly neither of them utilize tantalum credits, and Cancet's current tantalum intercepts are in line with Australian miners who utilize it, i.e. economic. So Cancet could be more profitable than Nemaska's $3.5 Billion NPV if its current mineralisation just continues as it is along the strike.
While the 'best case' is nice to imagine, it's important to consider the ABSOLUTE worst case. What if say, the geologists got the exploration target COMPLETELY wrong, and the maiden JORC at ONLY the first 500m of strike ends up only a piddly
10% of what was expected, let's say only 2Mt at 1.5%:
How terrible, we'd only end up at ~4.3x the current market cap...
In the interest of not cherry picking peer comparisons, here's a few other small fish:
A lot of people have expressed that they view an exploration target as valueless (I feel sorry for the geologists who spent all their time calculating it), so in that case by all means use the raw drill intercept data for an accurate, true representation. Here's the real big hitter companies:
It takes nothing more than a glance at Cancet's drill intercept table to see that it blows all of these out of the water, particularly in terms of grades.
(20min delay)