fantastic news: teck withdraw

Subsequent to cap raising ann, and as flagged in age article, CSE have confirmed that Teck have decided not to exercise their option to earn into Chloes.

This is FANTASTIC news though will probably make some investors concerned (thinking its too small).

Suggest people to some comparisons.

Ann suggests 5-10 mill tonnes resource...i expect somewhere in the middle of that band.

Compare this to Jabiru which a few years ago had 2 mill tonnes. Admittedly also had copper (but CE has copper at einsleigh!). Market didnt appreciate JML for a while, but it finally got going. I made a killing there.

Compare it with TRO resource as well (which in my opinion is nowhere near the quality of CSE's).

Teck decision now make it much easier for CSE to accelarate expliration, feasibility...ie previously it was a little hesitant on spending certain monies as could have been a waste since Teck if earning in, would have had to spend it anyway.

I am very happy with this.

I expect the placement was organised subject to this decision, since if Teck had exercised their option, CSE probably wouldnt have had to raise as much.

I will possibly increase my holding once the market has digested both announcements. The cap raising ann will cap price for a while one would expect though interesting it was fully underwritten even though not at a substantial discount.

Well done Tom Eadie and the rest of the CSE crew!!!!!

Cdchi1