Centaurus’ share price retracement an opportunity for investors,...

Centaurus’ share price retracement an opportunity for investors, says Wendt
2nd August 2018

Writing in his widely-read Minelife newsletter, Wendt says the move is “puzzling given the continued release of strong near-surface drilling results that appear to confirm a significant high-grade nickel-cobalt discovery”.
Wendt attributes the move to tax-loss related selling in the month of June that has also continued into July, with a likely explanation being “stale bulls” exiting the stock from the company’s head iron ore days, when its share price peaked at around $1.30.
“This selling presents an opportunity for investors,” Wendt wrote.
“The maiden RC drill program at Itapitanga is continuing to deliver great results, highlighting both the quality of the discovery and the speed with which CTM has been able to delineate such a sizeable and strategic new asset.”

This week, Centaurus announced an initial Exploration Target for Itapitanga based on the strong and consistent high-grade drilling results reported from the project in recent weeks.
The Company has defined an Exploration Target of 35-45Mt at 0.80% to 1.10% nickel and 0.07% to 0.12% cobalt for the Itapitanga Project.
The Exploration Target estimate for the Itapitanga Project comprises between 280,000-495,000 tonnes of nickel and 24,500-54,000 tonnes of cobalt.

Centaurus’ Managing Director, Darren Gordon, said the Company’s success in advancing the Itapitanga Project from the first auger drill-hole to a maiden Exploration Target in less than six months was an outstanding achievement.
“After just two months of Reverse Circulation drilling, we have been able to clearly establish that Itapitanga is a substantial nickel-cobalt project with the scale, grade and potential to be a significant and valuable asset for Centaurus.
“We have been able to deliver a preliminary Exploration Target of 35-45Mt at 0.80% to 1.10% nickel and 0.07% to 0.12% cobalt, based on the approximately 3,000m of drilling for which we have results so far. This is quite an achievement considering that we only put the first auger hole into the project in February.”