Ann: Robust Maiden Mineral Resource - Diamba Sud, page-21

Very compelling case argued in the above 17.11.21 Euoroz Report on CHZ. Target Price per share still at 30c.

I particularly liked these comments from the Euroz CHZ analyst M. Scantlebury above.

"We now see potential for a 1.8Mtpa development capable of producing
up to ~130kozpa at an AISC of <US$1,000/oz for a capex of ~US$130m.
Action
Speculative Buy recommendation and PT of $0.30 (A$150mcap)
maintained.
The Maiden Resource has re-confirmed our view that Diamba Sud
contains high value/margin ounces, which the market is currently
undervaluing.

Key Catalysts

. M&A potential region IAMGOLD’s Boto Gold project located ~50km
south of Diamba Sud and Barrick’s Kabewest discovery ~5km to the
northeast.
. Ongoing exploration with a 15-20,000m program scheduled to
commence in Jan CY22, targeting infill and regional prospects (5
priority targets within the wider project area).
. Regional exploration results with RC drilling recently completed over
Area H, Area G and Western Splay, assays expected to be released in
December.
. Scoping study which we expect to be released in 1H CY22.
. Gold price".


My comments:
This CHZ area is in a highly prospective region, with the very strong Barrick tenements very close (5kms)- IMO, a takeover of CHZ, when it proves up its further assays & ozs. is a real possibility. IAMGOLD's mines are a bit further away, compared to Barrick- might also be interested.

I am keenly looking forward to the release of the latest CHZ assay results, "expected to be released in December".

CHZ has about $7m cash now.
Can anyone estimate what the "ongoing exploration with a 15-20,000m program scheduled to commence in JanCY22" is likelyy to cost?