Just a quick thought.
Recently there has been one or more of the larger share holders selling out of this since the high price of 33c a couple of months ago. I wonder how they are feeling about now?
One of the emotions is probably anger that they didn't get more information from management to keep them 'in'.
Mike Young, while in charge at BCI had a reputation of under promising and over delivering. I hope as chair here that that attribute has rubbed off onto Richard, and so far I would say yes it has.
What has kept me in, and while trading 1/3 to 1/2 my position along the journey, always been worried when I've sold some shares, is that in terms of overall deposits, the combination of Nebo-Babel and Succoth has always been in the tier 1 world class category, despite the remoteness. Just from what we know when Cassini first aquired the tenement it has had approximately 9 million tonnes of copper equivalent metal, all open pitable.
I just can't find a similar sized resource in a stable country that hasn't been mined. All it ever needed was money to set the mine size up correctly and I've always considered ALL the minerals would eventually be mined here. There is afterall over $A70b worth known in those 9mt CuEq.
Cassini were after the high grade catalyst to get going, by searching and proving up the Nickel MS at Nebo, while the market valued the resource at just $17m (including cash in the bank). This was always undervalued and when you consider acompany like Boliden can mine .25% Cu at Aitik profitably in the frozen area north of the Arctic Circle, then how could the base deposit here NOT work out profitably.
They have cheap electricity at 3.6c/kwh. Ours will be slightly more expensive, but we have plenty of wind and sun that can bring the cost down.
I'm really disappointed I can't be at tomorrows meeting, and wish all holders the best, andhope you are not tempted to take the quick profit on the expected good news.
Make them pay for your G&T in holding through the original good, then low price bad, emotional time of SP weakness.
Spectacular news will end with spectacular results for a company with only 111m shares and $70b in minerals, especially if it starts coming in high grade.
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