Ann: Vertical Continuity of Cu Mineralisation Confirmed at Ngami, page-95

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30/08/22

17:56

Post #: 63415350
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Originally posted by cjames1: ↑

IMO the selloff was likely caused by the fact that this hole appears to be note quite as good as the hole it was stepped back from (NCP08), which has been the best hole drilled thus far. Remember that every new result is extrapolated forward by the market as traders/investors try to judge what the eventual ore body will look like... so even minor deviations from previous results (better or worse) can cause a significant change in the share price. Yes, the step out hole has shown that mineralisation is vertically continuous however IMO that was already pretty clear considering that mineralisation already extends at least 4km along strike and our deposit appears directly analogous to Zone 5. This is how this is going to play out going forward - next step out hole hits higher copper and it will go higher. Next hole hits lower copper and it goes lower. Simple as that. We are naturally going to get variation in copper content in each hole as we go along strike and as we go deeper. Have a look at the grade variation within Zone 5, if you drilled 1km step outs and step backs you would very likely get considerable variation with each hole. You get high grade (>20%m) and right next to it lower grade (<8%m):

What CBE has on its side however is that it has a relatively low MC for a potentially major discovery therefore the downside is limited compared to previous discoveries that turned out to be one hit wonders. At a fully diluted MC of around $85M this is extremely good value for investors who believes that the KCB is indeed one of the most prospective and attractive copper belts on the planet. Regardless how large this deposit becomes this will almost certainly not be the last discovery that this company makes...

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@cjames1,
can you please explain why you say,
"IMO the selloff was likely caused by the fact that this hole appears to be note quite as good as the hole it was stepped back from (NCP08), which has been the best hole drilled thus far."

This diagram from todays announcement indicates longer intercept overall, as well as Chacocite, for NCP11-8 (step out hole) vs NCP08.

What am I missing ?

TIA.

CBE Price at posting: 51.5¢ Sentiment: Buy Disclosure: Held
12 Upvote

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Last 6.8¢		Change -0.002(2.86%)		Mkt cap ! $23.17M

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2	87561	0.067
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Ann: Vertical Continuity of Cu Mineralisation Confirmed at Ngami, page-95

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