A few more bits and pieces to add to CHK - DD due to be...

A few more bits and pieces to add to CHK

- DD due to be completed mid april so any day
- Rights issue completed but was only 1 for 6 so dilution minimal
- Recently acquired an additional Cobalt project (Wee Macgregor)

Included in the Cobalt X acquisition was rights to a vat leech processing plant (Lady Jenny processing plant)
It was lack of water occasioned by successive droughts that hampered production such that the mine was eventually closed.

'The area East of the Mt Cobalt tenement is dominated by granite and sandstone units but also contains the same schistose metasediment known to host the cobalt in the Mt Cobalt deposit itself, some 16 km to the west. This unit abuts a metamorphosed sandstone that has been crosscut by numerous ultramafic dykes, both of which contain zones of brecciation providing strong exploration targets.'

So potentially a huge area of mineralisation here. Like you said @mouse hand picked ore of 16-18% which is probably some of if not the highest grade Cobalt you will find in asx listed stocks.

And imo in terms of value compared to potential CHK has to be the most undervalued Cobalt stock stm.

432.4m soi = $7.7m market cap
cash = $2.5m (Including shares and cash from tranch 2)
EV = $5.2m