CNB (ASX) Ann: Results of Meeting

Originally posted by peter63: ↑

Ok Just back from the AGM. So here goes

Peter (chair) opened up the meeting
Some things he mentioned, obviously its very hard at the mo due to Covid / border restrictions (our premier not helping the situation)
Rob has been working over time on the drill rigs and been away from his family for extended periods
The amount of copper at Duchess is incredible. The elephant in the room is Strelley and NO the market has not yet woken up to it. But DEG is indicative of what can happen. It took Dennis O'Meara 15 years (DEG), we've only been there 15 months, our drilling is vary spacious which is necessary at this stage of exploration. We absolutely hold dear to us the low shares on issue register. 5.5m in the bank with another couple of mill coming in from sale of nickel and royalties. We are spending a lot on drilling. Assays: We are currently paying a 50% premium at the mo to get them prioritized but the problem is everybody is paying to get theirs prioritized, costs have gone up for everyone 50% !!!! The bottom line is in the last 12 months we have achieved way more than the share price is reflecting.

Rob then gave his presentation. We are more advanced than we were at any stage prior and on the cusp of something big. He couldn't believe the markets lackluster response to the results this week.The recent results are EXTREMELY GOOD, we should all be excited by them, He says its very hard with air core drilling and we have only received results from a handful of RC drills. It's also very hard to book rigs at the mo, yet we have plenty more drilling coming up THIS YEAR. He spoke a lot of the 4km long corridor at Strelley. Results from that are extremely encouraging. Targeted drilling for the next stage is being planned now. We also have so much copper around Duchess. Some serious deposits (of such a highly demanded commodity). They had a board meeting to discuss whether to concentrate on the copper or the gold and couldn't separate them, we have to move forward on both. Staff are hard to get in the current environment. Rigs are hard to book and results even harder to get. But we just have to keep ploughing ahead. Then he came to probably my personal favourite part of the meeting..... Lady Fanny ! He's spent the last 4 months organizing this with government departments. He can't believe there's been no drilling at all around it for the last 40 years. All that is about to change, we'll have the drill bit spinning before Christmas this year. He couldn't hide his excitement with Lady Fanny . I can't wait to hear more about her !!

So all in all we walked out of the meeting very upbeat. This is not a lifestyle company, the guys are all working very hard and have plenty of skin in the game themselves. They have a lot more drilling coming up and are working toward the bigger picture. It just takes time. In my office I have this saying in a frame on the wall: "The Stockmarket is simply a vehicle that transfers money from the impatient to the patient" Warren E Buffet It's there as a reminder to ME everyday when I walk in.
Carnaby Resources is a very well run company with extremely low amount of shares on offer. The leverage we have with this is unbelievable compared to companies whose shares run into billions and still raising capital. Sentiment stays as "buy"

Expand

I would've loved to attend but couldn't get the time off work, so thanks for taking the time Peter for giving us your input greatly appreciated.

No.	Vol.	Price($)
3	51147	38.5¢

No.

Vol.

Price($)

51147

38.5¢

Price($)	Vol.	No.
40.0¢	68311	1

Price($)

Vol.

No.

40.0¢

68311

No.	Vol.	Price($)
3	51147	0.385
5	78414	0.380
2	31000	0.375
4	152666	0.360
4	29729	0.350

No.

Vol.

Price($)

51147

0.385

78414

0.380

31000

0.375

152666

0.360

29729

0.350

Price($)	Vol.	No.
0.400	68311	1
0.405	938	1
0.410	110368	4
0.415	9000	1
0.420	500	1

Price($)

Vol.

No.

0.400

68311

0.405

938

0.410

110368

0.415

9000

0.420

500

(20min delay)
Last 40.0¢		Change 0.020(5.26%)		Mkt cap ! $68.77M

Open	High	Low	Value	Volume
38.5¢	40.0¢	38.0¢	$84.27K	216.7K

I would've loved to attend but couldn't get the time off work,...

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

The Rising Tide: How institutional adoption is shaping the future of crypto

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

Reporting wrap: Inghams, Accent, Mayne Pharma

Dale Gillham's weekly wrap: responding to a weak iron ore price with investing decisions

The business of sport: Warren Tredrea's take on this week's news

Noronex kicks off EM survey at Humpback, Namibia – part of South32's earn-in deal to access Kalahari Copper Belt

IPH raises $100M to buy up Canadian IP firm Bereskin & Parr

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

Raiden gears up for exploration in final quarter of 2024

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

I would've loved to attend but couldn't get the time off work,...

Top Stories

Week 34 Wrap: HotCopper's top watched; Oz banks cut saver interest; Kamala’s 28% corporate tax; AI’s back

The Rising Tide: How institutional adoption is shaping the future of crypto

Chariot locks in high-potential drill target at Black Mountain, one of the USA's largest lithium landholdings

Reporting wrap: Inghams, Accent, Mayne Pharma

Dale Gillham's weekly wrap: responding to a weak iron ore price with investing decisions

The business of sport: Warren Tredrea's take on this week's news

Noronex kicks off EM survey at Humpback, Namibia – part of South32's earn-in deal to access Kalahari Copper Belt

IPH raises $100M to buy up Canadian IP firm Bereskin & Parr

How flooding did Strategic Energy Resources a favour: Four holes down in 'redesigned' gold & copper campaign

Raiden gears up for exploration in final quarter of 2024

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News