Hi Tinhopper, My views on this are a little more sceptical than...

Hi Tinhopper,

My views on this are a little more sceptical than some others around here.

My big concern is the raising of capital for the new project/s which they are conducting DD over.
$2.1m raised after costs will only pay for DD and onging costs associated with running the company office, (and I wouldn't be surprised if some of it was used to keep the Ruighoek project going for Blackthorn - which they have to do). If memory serves correctly, I think they also should have had about $400K in the bank after Blackthorn paid, but that won't take long to burn either.

Where are they going to get the capital to purchase a new project?
There are only two sources that I can see, viz - apply for more debt (in any of it's forms), or sell their holding in Blackthorn, and this is not likely to occur until Blackthorn lists, which could be sometime to come yet!

Assuming CCI's only asset is now approx $12.3m of Blackthorn (unlisted) shares, the market has got CCI's current price about right.
1.394b ordinarys + .465m 2c options equates to approx .0066c/share. This assumes the 5c oppies are dust in the wind, but if you had to count them, CCI's mkt value should be around .0052c/share!

I really have no idea what the new project might be, but I wouldn't hold my breath until they release their intentions.

Anyone else been brewing on this?