Another holding of mine from sub 7c is CNB. They have been using pXRF and on average the pXRF readings are conservative compared to assay. In some cases >30% lower.
CNB is at around $180m MC and on their discovery hole went to intra day high of over $260m MC with 118m soi. Settled around $200m MC before they raised at $1.30.
Right now they have $30m cash v AW1 $10m but AW1 has certainly more in ground copper right now albeit IOCG steeply dipping ore bodies for CNB and some shallow.
No reason why a discovery hole into the MILf won't see us exceed $200m MC and beyond.
There are some similarities, AW1 near term DSO while a lot of CNB sits on mining leases so again relatively near term production possibilities. Not cross promoting just adding some perspective.
Ann: Trading Halt, page-162
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