CNB Current Drill Program, page-132

@Stylonnnn
Point 1 seems to be borne out by todays announcement. It makes sense to expedite the good looking intersections and let everything else take its time. Can help plan the next drilling without waiting for samples of less interesting rock.

Point 2 needs to be put into some context of priorities. They are fishing about looking for someone else to mine the small resource at Tick Hill. Seems like a lot of effort for another company to go to if they don't own it (and therefore only get a portion of any profit). For CNB the permitting is ticking along (government can be slow) but it may not be a priority because the Nil Desperandum lode is building a far more valuable resource. If we take a very conservative view of the Nil Desperandum resource, say 5 million tonnes @ 1% Cu eq. (50,000t Cu) then the figures are:

3 year LME copper contract today @ US$9465/t = AUD$13,137 (spot price US$9850 = AUD$13,671)
So 50,000t @ $13,137/t = AUD$656,850,000

As I have stated before I think Nil Desperandum will be at least double this size and possibly up to 5 or 6 times this size. So potentially billions of $ of copper starting from surface in wide and high grade lodes.

So the question is do you divert all your management effort to make $15 million at Tick Hill or do you keep building copper resources that will make you orders of magnitude multiples of this figure?