I find it hard to believe that BHP is so interested in CHK tenements - BHP has lots of other priorities and irons in the fire, eg. Oak creek, Ecuador, Resolution, Olympic dam expansions - why buy into even more other tenements before thoroughly exploring & developing existing ones and profiting from them? makes no sense to me
I am waiting for some drilling results from CHK -
"The Company has committed towards meeting the Stage 2 requirement of an aggregate expenditure of $1,000,000 for a 51% stake in the tenements.
Cohiba is planning its next phase of expenditure which will include deep drilling to test key magnetic and gravity targets identified at its Horse Well project; detailed gravity at its Peninsular-Andamooka project and shallower drilling at its Pernatty C project (stratabound Cu-Pb-Zn)."
HOWEVER, the Cobalt-X "balls up" by management does not give me much confidence in them, in addition to their complete lack of previous mining experience and complete lack of previous form in developing projects of ASX companies - I am very happy to be proven completely and utterly wrong
CHK Price at posting:
1.3¢ Sentiment: None Disclosure: Held
