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.
I partly agree with Goku in that the slowdown in drilling could...
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51.0¢ |
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| Last trade - 15.51pm 18/06/2024 (20 minute delay) ? |
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