I have been following CYY for a few years and sitting on the sidelines until they released their maiden JORC resource. I wanted a bit less risk before jumping in, hence waiting for the resource to come out. While the grade is good, its pretty small and not big enough to carry the cost of the CAPEX in that part of the world. My concern from looking at the drill intersections was the resource was going to be small and that is how it has panned out. In my view the reason CYY is down 10% today is purely on the size of the resource. If you plug that resource into a basic economic model it become clear its not really going to carry the cost of capital. It is now going to be hard for CYY to raise the money they will need to take the project to the next level. It's been interesting to watch, but I am now moving on. Good luck to all.
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Open | High | Low | Value | Volume |
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7 | 2165000 | 0.008 |
6 | 5821571 | 0.007 |
3 | 8125555 | 0.006 |
2 | 700000 | 0.005 |
Price($) | Vol. | No. |
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0.010 | 1027144 | 1 |
0.011 | 1249200 | 4 |
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