Continuation of wide widths along 900m of strike for earlier reported widths of 145m and 180m, now add most recent report (Friday) of 310m and 240m widths for an average of 218.75m over length of strike.
Conceptual target gets much larger for a length of 900m x width of 218.75m x depth of 300m (and open) equates to a conceptual target of 147.7 million tonnes. CDV are now reporting enriched zones of visible gold. Assume range of 1.0- 1.5 -1.75 g/t gold x 147.7 million tonnes for conceptual targets of 4.8M - 7.2M and 8.3M ozs.
Warning this is a conceptual target estimate, do your own research, subject to confirmation from ongoing drilling.
CDV geo's and drillers are blowing the doors away, which is obviously an elephant deposit. Majors will all over this one, Conceptual Enterprise Valuation range (at US$50 oz gold) runs US$240M - US$415M for a very shallow open pittable deposit that has good metallurgy (so far).
Range in A$ is A$319.2M - A$552.0M which makes this a 8 -13 bagger. As drill "prove up" ounces, conceptual EV will rise significantly. Good luck to all longs.
Second warning - this is a conceptual valuation only, subject to further news flow which will flow like a torrent with weekly reporting.
CDV Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
