CNB 2.04% 48.0¢ carnaby resources limited

I partly agree with Goku in that the slowdown in drilling could...

  1. 160 Posts.
    lightbulb Created with Sketch. 273
    I partly agree with Goku in that the slowdown in drilling could be intentional. My view is that Rob and the team don't want to be forced to raise at these low levels (really since Sep / Oct last year the share price has been subpar, but dropping to 40c was just silly).

    CNB had to come to some arrangement with HMX and that required some cash. We have mine scoping and development planning underway, that also takes cash. By slowing the exploration activity CNB are buying time for the broader juniors market and the minerals market to recover. We're starting to see this happen now, and the Cu price strength should help lift CNB back to a reasonable share price. Couple that with an attractive scoping study and we might be back where we belong.

    Having said that, satellite shots show some activity at Duchess, LF North and Wimberu. Agree with others that we should hear about this progress (regardless of whether there are meaningful hits or not).

    Cheers,
    Dingo.
 
watchlist Created with Sketch. Add CNB (ASX) to my watchlist
(20min delay)
Last
48.0¢
Change
-0.010(2.04%)
Mkt cap ! $82.53M
Open High Low Value Volume
50.0¢ 50.0¢ 45.5¢ $467.2K 986.6K

Buyers (Bids)

No. Vol. Price($)
1 43099 47.0¢
 

Sellers (Offers)

Price($) Vol. No.
49.0¢ 40000 1
View Market Depth
Last trade - 16.10pm 28/06/2024 (20 minute delay) ?
CNB (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.