STTCOMP CDG, FA Long
(ASX: CDG)
SP: 7c ASX
MC: $27.27 Million
Shares 360.3Million
Options: 17.5Million
Top 20 shareholders 52.6% and Board holds approx. 20% (Fairly tight register with not only the Board having skin in, but also some significant shareholders such as HSBC Custody Nominees at no.2 in the Top 20 (as at 11 June 2016)
Cleveland Mining Company Ltd is an Australian managed, ASX listed minerals company focused on developing projects into mines. Mining and production are underway at the Premier Gold Mine located in Crixás, in central Brazil. The company is also working to expand production developing the Lavra prospect, within the O Capitão Project, less than 10km away. Please refer to the Companies website for further details of points raised in this post http://clevelandmining.com.au/
Catalysts:
Mining in Brazil
Low labour costs;
Low energy costs;
Attractive, sound mining legislation;
Low taxation rates and where repatriation of capital is allowed;
Comparatively smooth bureaucratic process to enable swift examination, construction and mining;
Well understood geology with relatively low exploitation levels;
Excellent operational history, access to professional, skilled and semi-skilled personnel;
Access to contractors, equipment and minerals service companies (drilling, assays, blasting, consumables).
ASX Release 24th August 2016
Catalysts Summary:
Cleveland’s Managing Director, David Mendelawitz summed up why they are feeling excited about both the short and medium term… “We are very encouraged by the progress that we have been making across our Crixas projects. We have recently announced significant results at both Dona Maria and Mine Gate, now after the initial delay to mining at Lavra, which was in part due to the disappointing initial results at the “Saddle” area, we are very pleased with the number of high grade results that we have seen from the in-fill program and are grateful to have received our Operating Permit. To have gold grades of this magnitude at or near surface in a project with a permit to mine within a short distance from an operating process plant is every miner’s dream. To now see some of that material going through our process plant is even better. We look forward to seeing what we can get out of this exciting area and the areas around it.”
Please DYOR as this is not a buy or sell recommendation
