avb chairman,$6mmc,$3.5mcash,brazil acq,$5m jv

Been accumulating this one (and still am), as I see this going much much higher and following in the footsteps of our darling AVB.

We have the same chairman as AVB (Matthew Wood) running the show here who has "spent a considerable time in Brazil leading a number of exploration projects and is very familiar with the geology associated with the Brazilian gold and metalliferous regions."
Look at what he has done with AVB and hopefully he will now repeat it with CRJ.

CRJ have $3.5M in cash coming in from the current CR.

Current market cap is a tiny $6M.

CRJ are looking at new acquisitions in north-east of Brazil of quality iron ore (Carajas quite possibly as its in north-east of Brazil? (where both AVB and "quality iron ore" are located)). $1.5M cash is allocated to the acquisition here, plus maybe shares in CRJ? They know the amount of cash they need for the acquisition which says to me that they have already shopped around and found what they are looking for?

Then there is CRJs current projects/tenements in Australia:

OLYMPIC DAM tenements:
Copper Range has acquired a substantial tenement holding in the Olympic Domain comprising nine granted tenements (Exploration Licences) covering a total of ~2,500 km2. The nine Exploration Licences are held 100% by Copper Range. They lie within the region hosting the Olympic Dam, Carrapateena, Mt Gunson and other prospects.

Barrick Gold of Australia Limited (Barrick) wholly owned subsidiary of Barrick Gold Corporation has signed a letter of intent to farm-in to six of the company's tenements in the Olympic Domain for $5 million. Under the terms of the agreement, Barrick has the right to earn a 75% interest in the tenements by spending a minimum of $1,000,000 within 18 months after the date of acceptance, and a total of $5 million within five years. Upon Barrick earning its interest, Copper Range has the right to contribute as a 25% joint venture partner or dilute down to a 5% interest at which time the interest will convert to a 1.5% net smelter royalty. Barrick has no right to withdraw until it has met the minimum expenditure in the first year. Should Barrick withdraw following the minimum expenditure but prior to expending $5 million they will have earned no interest in the tenements.

Adelaide Fold Belt:
Copper Ranges tenement portfolio in the Adelaide Fold Belt covers an area of ~9,000 km2, including Part (149 km2) of Exploration Licence EL 4131 covering the historic copper deposit at Kapunda and surrounding land.
Sampling has returned grades ranging from 48% to 67.8% Fe, with limited previous exploration for iron in the region.


From their recent diamond hole drill, which they are drilling further with the money that is coming in:
"Copper Range believes that it has encountered an environment that could host a McArthur River HYC style of base metal deposit. This is considered most encouraging."


Up 23% today as the market gets to know CRJ. Closed on it's high, chart looking nice. Traders will be onto this too.

Very confident in this one and looking forward to seeing what the next few weeks/months bring. Lots of action coming up here.

Cheers.