As of today these guys are now
approximately eleven days into a 'round the clock' type drilling campaign..............
"drilling will continue with
two shifts per day seven days a week for the remainder of the field (dry) season
which usually runs until December".
"Castile will update the market with results of the program
as assays are received."
- Might be a 'small wait' for first assay results to begin hitting here (late September would be my thinking on timing). But once they do start flowing in I would expect a significant amount of news releases on a relatively consistent basis from then on in..........all the way into early next year.
These bits from last qtr report might also be of more than passing interest:
"METS report also recommended commissioning a report from
industrial mineral experts Stratum Resources to assess the possibility of producing a coal washing magnetite product from waste ore. Castile expects the
results from this report in the coming quarter"...........
"Of particular note is that review of historic down-hole electromagnetic surveys (DHEM) completed at
Explorer 108 and Explorer 142 in 2008 and 2009 has revealed several
proximal anomalies that remain untested by drilling.
The anomalies are long wavelength, late-time features as would be expected from large, distal massive sulphide bodies......................"Castile is encouraged by these results which increase the scope for exploration activities at these two deposits.
The quality of data is not yet sufficient to derive a vector to source, but is nonetheless highly encouraging.
Castile intends to revisit these holes and re-survey with modern instruments and refined loop designs as part of its work program during the year".
Generally speaking:- Copper prices heading north and copper bullish in general to my way of thinking............
- Current high grade Cu core at Rover contains +63,000 tons of copper.........Cu credits to a primary gold production model (with higher copper prices) will be 'easy' money in the bank so to speak, and could really stoke some good PFS metrics (if the prices of two our primary commodities remain bullish of course).
- A serious copper bull run would be a great outcome for CST right now, (might just happen with the current outlook)..........hence I'm really looking forward to the PFS numbers when they are released, (would imagine they will drop late Q1 2021 perhaps).
- Gold price used in original SS has added near on 70-80% since the study was released way back when. Very high grade copper and gold here, with repetitions of ore bodies likely (not guaranteed though of course).
- Proven resource with nicely definable geo markers, should help with various targets outside Rover 1 that require serious follow up work too..........."Review of geological and geophysical data uncovers untested anomalies at Explorer 108 and Explorer 142." They know what to look for and how to methodically go about defining additional resources/deposits is where I'm driving on this front.
- Cash enough to see this to a development level FID type position, while maturing their other 'greener' prospects. Sit back and let the Rover drilling and surrounding prospects do the talking is my view..................
@GeoNeo you might want to run a ruler over this one perhaps..........has no doubt run nicely off recent lows but should be plenty left in the tank over the next 6-12 months barring a total market meltdown. Well worth plonking on a watch list at the very least imo.
They're looking to 'tighten' the register a little more with their 'less than unmarketable plan' just announced.............(must say I was surprised how many are in that boat tbh).
From a TA perspective:
Recent small retraction from highs, now maybe moving into sideways until more news drops.........volumes dropping way off and are well below 50ma. From watching daily trading patterns it would certainly appear that the bot's are all over this currently (curse those bots).
I would perhaps expect punters and shorter term speculators to be looking to get set 'around' these current levels with first up drill results to arrive near term.
Not too many reasons to be selling this down much further from here imo, not with the expected news flow in coming. However, prevailing world market conditions and short term 'fear' might see this test the ema35 at 25c to 25.5c, if so, I would expect value hunters to 'bounce' the price from said regions (no guarantees though, just the more likely scenario in my head if selling continues).
SS saying there's room for some selling still, but its middle of the road right now. Does seem as though the sellers hearts 'just ain't in it' looking at the volumes of late.
My take is sideways action likely, with possible slow burn uptick as new investors and traders look for desirable entry in time for results.
Any moves to beyond 33c would signify possible breakout especially if we can close 34.5c or better imo, so who knows..........obviously that's my preferred scenario here..................but one must look to both sides of the coin when evaluating an investment of course.
This stock can exhibit volatile moves on low vols if sellers suddenly appear and conversely it can really move up swiftly if buyers like what they see and want in................that's the thing about a big T20 ownership and lower-end SOI structure.
I'll certainly be looking to grab a few more of these before the new drill results start flowing in. ****Please note this is a longer term play for me and my average buy in is rather lower than current levels, so adjust your perspective accordingly when reading my ramblings here.
For me this is a see where we're at in 6-12months from now type thing...................so that's how I'm playing it, I do however evaluate most of my holdings on at least a weekly if not daily basis.
Others will have different takes and timelines and so on................this is just my take on the info at hand and anything might eventuate of course.
Good fortune to all, and remember to protect your capital.
(20min delay)