Copper Company?

[BFG]

Can't teach an old moose new tricks huh! :cool:

Nope, but you can rebrand him and make him say the same stupid ****!!! :D

[Daytr]

Copper down 1% as I write.
I don't expect the Chinese hedgies to be back until post Chinese NY.
$2.50/Lb is relatively cheap compared to what we have seen, but production is a lot higher & productions costs due to energy in particular will be reducing.
However the main reason I am bearish is world growth & demand looks weak & I think copper stocks will continue to rise.

[Daytr]

Same pattern as the previous night.
Copper down by over 1% only to recover later.
Pessimism in Europe being offset by optimism in the US?

[Daytr]

Copper down 2% despite the NFP number!

[BFG]

Copper down 2% despite the NFP number!

Yes very strange indeed. Shorts having one last crack before covering? Lord knows what Chinese hedge funds are thinking/doing! Not to even mention oil is well off its lows. What is going on here?

[Daytr]

Well copper stocks shot up 13% the night before so that's probably the main driver.
I tell ya copper is going lower.
Stocks growing rapidly.

[macduffy]

An interesting snippet from FN Arena.

"Copper: Improving Fundamentals

This might come as a surprise to many, but the average annual growth in copper consumption over the past decade is only 2.5%. Note this is including Super Cycle China's emergence post 2003. Incredible, but true, average demand growth for aluminium over that same period has been twice as high.

One would not think such is the case when looking at the price performances for both major metals. So what's been driving the price of copper if not insatiable demand from China?

In two words: disappointing supply.

And copper producers in early 2015 are back at doing what they do best; missing production targets and reporting delays, closures and interruptions.

Here's a brief overview from a recent sector update by Citi:

"Rio cutting Kennecott’s expected output by 100,000 tonnes, BHP cutting 150,000 tonnes from Escondida’s 2015 outlook, while Glencore has cut guidance at Minera Alumbrera by 50,000 tonnes. BHP Billiton announced a 6-month care and maintenance outage at the Svedala mill, the largest of three mills on site at the Olympic Dam facility in Australia. This operational disruption is likely to cost the mine c65,000 tonnes of copper concentrate.

"Closures have occurred at Mineral Park, Boseto, Aranzazu, Wolverine, Troy and Dikulushi. Barrick has placed it 135,000 tpy Lumwana mine on care and maintenance due to introduction of a 20% royalty rate on open pit mine operations in Zambia, up from 6% previously. This royalty rate move has prompted a freezing of mine investment in Zambia, and we believe will prompt further production losses through the year if the policy is not reversed".

So far, it appears the market hasn't paid much attention to all of this, instead taking lead from macro-issues, including Chinese New Year. At some point, however, this is likely going to change.

Citi analysts, for their part, expect increasing supply problems to be "highly supportive" of copper prices, probably in the second half of the year. On Citi's projections, copper should revisit US$7,000/t before year-end."

[Joshuatree]

FND Flinders mkt cap $124 mill s/p 17c Director buys a million @ 17.5c
2.3% grade
LOM cash cost US$1.05 lb
18month pay back
28,000 tonnes copper cathode a year atm
worth a look

Investor Presentation - Sydney Resources Round-up (amended) (https://hotcopper.com.au/threads/3415068/)

[Joshuatree]

Nice reports out on FND. Still pretty unnoticed by mkt but up to 20.5c today. AISC of $1.33 lb. Selling for $2.60 lb High purity copper cathode

Quarterly Cashflow Report 30 June 2017 (https://hotcopper.com.au/threads/3576360/)
Quarterly Activities Report 30 June 2017 (https://hotcopper.com.au/threads/3576330/)

[macduffy]

Some thoughts on copper.

https://www.livewiremarkets.com/wires/copper-fizzing-at-the-bungs-as-supply-demand-outlook-tightens?utm_source=Trending+on+Livewire+%22The+Mo rning+Wire%22&utm_campaign=5ba4d563b0-EMAIL_CAMPAIGN_2017_07_28&utm_medium=email&utm_term=0_1911ffeed5-5ba4d563b0-82636925

[shasta]

Some thoughts on copper.

https://www.livewiremarkets.com/wires/copper-fizzing-at-the-bungs-as-supply-demand-outlook-tightens?utm_source=Trending+on+Livewire+%22The+Mo rning+Wire%22&utm_campaign=5ba4d563b0-EMAIL_CAMPAIGN_2017_07_28&utm_medium=email&utm_term=0_1911ffeed5-5ba4d563b0-82636925

Very bullish looking at $US4/lb, I'm looking at buying back into CZI, huge cu/ni resource and OZL putting in $36m for 70%. Got to be a takeover target given the huge JORC resource.

[Joshuatree]

FND
Wetar Production Update (https://hotcopper.com.au/threads/3713808/)
Trouble at the mill with up to 500 tonnes copper lost production for the year dropped the price back to a buy for me ;;DYOR.

[Joshuatree]

BTW thanks for CZI shasta very int and tiny mkt cap .

[cammo]

Avb : have held since 2014.

[shasta]

BTW thanks for CZI shasta very int and tiny mkt cap .

No worries, its a huge copper/nickel resource, and with OZL onboard looks the goods.

I have also traded TLM recently, they have a similar setup with SFR, for a very high grade near term copper project

[Joshuatree]

A few points I've picked up on CZI

"A 0.7% pure Ni mine compared to a 0.7% Ni equivalent mine like CZI have is only good on paper
ie some of the comparative BHP mines are pure Ni , which means lower processing cost and improved sales price of Ni as concentrate is not made of other minerals (Cu ) that need to be separated when sent to a concentrator and smelter as with Nebo

If their JV partner does not go through to the second stage in the next few months then the project becomes a white elephant

For a > 4mtpa project it will need around 200 employees on site I am guessing , that will require a change over of around 100 employees a week who will need to fly out on a decent sized turboporp aircraft so they will need an airfield with guessing a 1km long runway , they do not even mention that in their costings ."

Shasta do you know if there are any high grade pods that they could bring in early to mine, is there a scoping study there somewhere, thanks.

Maybe you're looking for a short trade not an investment longer time frame play? cheers JT

[shasta]

A few points I've picked up on CZI

"A 0.7% pure Ni mine compared to a 0.7% Ni equivalent mine like CZI have is only good on paper
ie some of the comparative BHP mines are pure Ni , which means lower processing cost and improved sales price of Ni as concentrate is not made of other minerals (Cu ) that need to be separated when sent to a concentrator and smelter as with Nebo

If their JV partner does not go through to the second stage in the next few months then the project becomes a white elephant

For a > 4mtpa project it will need around 200 employees on site I am guessing , that will require a change over of around 100 employees a week who will need to fly out on a decent sized turboporp aircraft so they will need an airfield with guessing a 1km long runway , they do not even mention that in their costings ."

Shasta do you know if there are any high grade pods that they could bring in early to mine, is there a scoping study there somewhere, thanks.

Maybe you're looking for a short trade not an investment longer time frame play? cheers JT



They see Nebo-Babel mine as a Ni project even though its 830kt Ni and 850kt Cu with low arsenic and impurities so a low cost project.

Succoth is 936kt Cu all within the West Musgrave project, so its scale that OZL is interested in, and give there project pipeline is a medium term option.

They are 30 km from nearest airfield, yes they have done the scoping study, Cu and Ni prices have firmed since, updated scoping studies and Stage 2 funding decisions due Q4.

For me its a longer term play/punt on Ni prices and for the large Cu resource to be a cheaper option for OZL than green field exploration.

For a MCap under 20m with a 830kt Ni and 1.8mt Cu resource, you'd think OZL would just take them over at say 15-20c and fast track the BFS.

CVV is another small cap copper company with a large resource, TLM also have a JV with SFR on a very high grade copper project which will be in production well before CZI, so i may trade in/out on CZI/TLM.

The Q4 update is critical for CZI a green light will set the SP on fire and as you say, OZL walking away puts the project back at least 5 years, although i cannot see OZL leaving such a large resource for another company to grab.

[Joshuatree]

CZI from 5.86c to 8.1c re 2/08/17
FND from 20.4c to 24c
FND has about $1.5 billion cu insitu (mkt cap re $185 mill)at great margins but it seems country risk and slightly threatening takeover offer at lowball price @ 23c back in october is holding s/p back.. Positive cash flow of $27 mill for Qtr , debt dropping fast , now re $51 mill. LOM cost for copper cathode $1.05 a lb!!!
Unaudited Full Year 2017 Summary (https://hotcopper.com.au/threads/3997648/)

Hows CZI going shasta?

[shasta]

I'm in TLM at the moment, its not moved much yet its in development ahead of schedule, high grade Cu, IRR of 78% + and SFR are keen on exploring around Monty given the proximity of their De Grussa project and facilities. Less than 12 months away from production whereas CZI is still a few years away, OZL are progressing the JV can't see them walking away.

[Joshuatree]

Well FND shareholders have capitulated and the takeover play from eastern fields is over 50% acceptances now @ 23c. One of the directors has a foot in both camps, so you have to wonder if we've been played with. Quite a capitulation in the last few days. Oh well a profit is a profit, just expected more, sa la vie.

TLM has dropped a little Shasta. hard in the small/ micro caps atm

[shasta]

I'm a little puzzled, TLM have picked up some gold projects in NSW, whilst minimal cost I think the market is confused why they aren't spending the time and resources on there nickel project. They own the processing plant and the future for nickel demand looks good, why not progress this and build up nickel resource.

Given its ahead of budget I'm comfortable they will be in production late 2018.

Given its proximity to SFR's Grussa project and relatively short mine life only about 10% of drilling for copper has been outside of Monty, again why aren't they drilling around there.

Might put this to Management as to why SP weakness at a time its all ramping up, finance in place etc.

[shasta]

Have taken advantage of the weak share price to top up.

http://www.talismanmining.com.au/images/files/broker-research/TLM-20171108.pdf

Current SP 20.5c

[Joshuatree]

Great timing shasta you look to be re a third up. Copper looks to becoming a hot sector to be in, with a looming shortage not far off if projections are correct ,eg EV production. I have a list im going through atm, will share when ive bought fwiw.

[macduffy]

The AFR reports that copper has dropped for five successive weeks on China/USA tensions. I'm watching OZL for the inevitable recovery.

[shasta]

Great timing shasta you look to be re a third up. Copper looks to becoming a hot sector to be in, with a looming shortage not far off if projections are correct ,eg EV production. I have a list im going through atm, will share when ive bought fwiw.

Switched out of TLM, given they selling there chuck of the Monty project to SFR, more upside in SFR than TLM with this transaction,in my view.

Have a look at HCH, off the radar as US based, but plenty of copper and gold, their comparison to when they had a market cap of 250m v 30m today and how far they progressed since then is mind boggling, 1.5mt Cu + 1m/oz Au resource now....

[Joshuatree]

Thanks.Had a quick look at presentation, Productora has very low grades, no idea what the costs, strip ratio, overburden are but thats a great example of the sign of the times , all the good grades are mined or being. Presentation, Price the same per $3lb (currently$2.7604 in this severe sudden drop) but mining costs 10 years later will be away up.... El fuego looks spicy. Low mkt cap because of grade? Reading and watching more before i consider buying Cu stocks atm. Uranium looks ahead in the cyclic turn stakes but hey folks have been saying that for 10 years.

[Hectorplains]

Have a look at HCH, off the radar as US based, but plenty of copper and gold, their comparison to when they had a market cap of 250m v 30m today and how far they progressed since then is mind boggling, 1.5mt Cu + 1m/oz Au resource now....

Chile based. I'd be very cautious with HCH. Ten long years of promises... and precious little else - hence the MC decimation. This really needs further copper price increases and will require significant capital injection to go into production.

[Joshuatree]

HGO, OZL, STM , DGR are some of the Aus Cu stocks on my list im looking at

[Bobdn]

https://www.bloomberg.com/news/articles/2018-07-16/the-world-s-biggest-miners-want-more-copper-but-nobody-s-selling

Interesting article. Hold a small amount of BHP and would like more which I will get (very slowly) via the recently introduced DRP.

[Joshuatree]

Good read thanks B. Copper down 16% since June. Trade wars worries seem to be the main culprit. I hope EV take up is as predicted for environmental reasons but wonder if they've got their estimates way over optimistic as they often do. Still Copper deposit discoveries of any grade and size are just not happening anymore.

[Bobdn]

Yes, as much as I like the idea of EVs taking over, my guess is it will be a couple of decades before we see significant numbers of EVs through out the world. I recently bought NZ Refining because I still see petroleum being a huge part of our lives until well after I've died.

One advantage of BHP is that it allows me to have a bob each way. Its gets 18 per cent of its revenue from petroleum but of course its main business is metals including copper.

[shasta]

HGO, OZL, STM , DGR are some of the Aus Cu stocks on my list im looking at

HAV worth a look too

[Joshuatree]

Thanks.Have you done much research on HCH esp re the costs of mining which i havnt found atp.

[Joshuatree]

FWIW a friend( who specialises in small mining stocks in aus and who i rate very highly) was in HCH a while back and had a lucky escape , selling his shares on time. IRR of only 15% and scathing of at least one director, avoid is his opinion . It looks like a rinse and repeat stock which may suit some traders but not me

[Joshuatree]

Bought some MOD today @ 46c hopefully as a longer term investment.

[Joshuatree]

T/H for MOD re significant drill results

Download Document 2.16MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6gy6y hmZrfh9ke92GA%3D%3D)

[Joshuatree]

MOD up 15% today.


Download Document 1.31MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6gq9z BKZrfh9ke92GA%3D%3D)

[Joshuatree]

NZC Copper/ Cobalt 12 month timeline to production. Sub 300 million shares (undiluted)

S/P has bounced from sub 20c to 33c i hold, DYOR

Copper price looks to have bottomed but may be a fakeout.Up 1.29% month down 6.53% 1 year


Lithium-ion batteries typically employ a ratio of 60% nickel to 20% manganese and 20% cobalt (6:2:2): cobalt contributes 60% of the value of lithium-ion batteries

Download Document 4.97MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6gq%2 BzBiZrfh9ke92GA%3D%3D)





Explorer MOD , Cu with Ag credits not doing so well for me atm. Well down.

Presentation from Diggers and Dealers conference
Download Document 4.97MB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6gq%2 BzBiZrfh9ke92GA%3D%3D)

[Bobdn]

https://oilprice.com/Energy/Crude-Oil/What-Peak-Oil-Demand-Copper-And-3D-Printing-Have-In-Common.html

Copper is where its at:

"Can copper producers effectively supply electrification of the transportation sector in the coming decades?
Rio Tinto (https://investingnews.com/daily/resource-investing/base-metals-investing/copper-investing/rio-tinto-ceo-copper-market-deficit/), EMR Capital (http://www.owenhegarty.com/wp-content/uploads/Owen-Hegarty_IMARC-2015-Presentation1.pdf), and BMO Capital Markets (http://www.mining.com/copper-supply-crunch-earlier-predicted-experts/) have all expressed concern about copper supply in the coming decades. Earlier this year, CRU Analyst Hamish Sampson provided a stark supply outlook (http://www.mining.com/copper-supply-crunch-earlier-predicted-experts/) stating that “only if every single copper project currently in development or being studied for feasibility is brought online before then, including most discoveries that have not yet reached the evaluation stage, the market could meet projected demand.” The forecast suggests that copper production could plummet from current levels of roughly 24 million metric tons (https://uk.reuters.com/article/copper-demand-electric-vehicles-idUKL3N1JA26Z) per year to just 12 million in 2034. Two hundred copper mines are expected to reach their productive end-of-life by 2035."

[Joshuatree]

MOD , Cap raise $5 mill @ 24c for holders. $10 mill raised @ 30c from Instos plus Sandfire lob first bid @ 38c. Let the games begin. Download Document 168.73KB (https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYD4gi7z xCZrfh9ke92GA%3D%3D)

[shasta]

Good time to be looking around at copper companies again, SFR already bought out TLM its JV partner, is this the start of SFR/OZL snapping up on the cheap, copper pricing hasn't been strong of late despite it future looming supply deficits.

CZI still looks far too cheap, but OZL are already funding them, takeover at some point seems logical.

I sold HCH at a loss, just not enough attention to attract a bigger partner and the capex requirements to unloc value from their gold/copper JORC resource

[JBmurc]

https://www.miningnews.net/research/news/1408342/%E2%80%98copper-is-the-new-oil%E2%80%99-says-goldman-sachs?utm_source=04%2f15%2f21-02%3a17%3a25-975+-+Regis+shares+slump+on+trading+return+%e2%80%98Cop per+is+the+new+oil%e2%80%99%2c+says+Goldman+Sachs+ Outcrop+on+gold+New+discovery+boosts+Bellevue+reso urce+Surging+Bitcoin+not+a+threat+to+gold%3a+WGC&utm_medium=email&utm_campaign=04%2f15%2f21-02%3a17%3a25-975+-+Regis+shares+slump+on+trading+return%3b+%e2%80%98 Copper+is+the+new+oil%e2%80%99%2c+says+Goldman+Sac hs%3b+Outcrop+on+gold%3b+New+discovery+boosts+Bell evue+resource%3b+Surging+Bitcoin+not+a+threat+to+g old%3a+WGC&utm_term=Regis+shares+slump+on+trading+return+%e2% 80%98Copper+is+the+new+oil%e2%80%99%2c+says+Goldma n+Sachs+Outcrop+on+gold+New+discovery+boosts+Belle vue+resource+Surging+Bitcoin+not+a+threat+to+gold% 3a+WGC&utm_content=416638&gator_td=qmby5CjJws%2fB9mFVYDtSOWaPayxbhArytAfeCSg qPbsgOk%2fhNeCRgcW%2bcSaWRz5Xy%2fzAJRNHnHWIcAG9U10 SEKWcU7TiDt1DnGops0EatAkO9Pw2j%2f5pPwydVFw76RwK6Rf RUvY8vRnTycOuq7Cq9Te2YC1fBRGAl1Ckjk6BWOzzuiJpuyvz4 aHjooIuQVhHYq0PWCEVVWHVa2mx%2foxK0tU2%2fJDO3nQbziR w5%2bGiIHL8YmTU%2b9Cwu86UhbmfzaftfmwO2EFrL8zf9ZPID OuH2Io2NoPRxESlunSMcvBwhSGl8DbhE8fEE7nYjyd8LsjQAt1 iW6gl9mL6c6ZI7buPiy3OnNevTxRWEZOy%2bAo9h1X9mNT3Qdu PI4UbS2r7drP%2fBY2B3WPfmfzWFdMoetBlAg%3d%3d

[JBmurc]

Copper is so crucial in electrifying the global economy that finding enough of it has become a national security issue, according to mining magnate Robert Friedland.

Mining companies will have to be “real heroes” and governments will need to accept the industry if the world is to successfully transition to clean energy and transport, said Friedland, founder and co-chairman of Ivanhoe Mines Ltd., which explores and develops mines in Africa. The world is yet to grasp the scale of disruption in replacing fossil fuels, with most people in urban areas unaware of where materials in everyday life come from, he said.

[DarkHorse]

I did a bit of research on copper investment potential the other day.
There's a strong case for it - well summarised here
https://www.livewiremarkets.com/wires/phil-king-s-next-three-big-plays

But also a very compelling counter argument, brilliantly made here:
https://www.livewiremarkets.com/wires/commodity-super-cycle-hype-copper-edition

Not sure which way to go - comments welcome!

[JBmurc]

I did a bit of research on copper investment potential the other day.
There's a strong case for it - well summarised here
https://www.livewiremarkets.com/wires/phil-king-s-next-three-big-plays

But also a very compelling counter argument, brilliantly made here:
https://www.livewiremarkets.com/wires/commodity-super-cycle-hype-copper-edition

Not sure which way to go - comments welcome!

Yes always two sides of a story .. personally I believe more in the former .. many major Copper Mines are seeing grades dropping in Chile ..and because of the commodities BEAR market over the previous decade.. there was much lower investment in exploration and as mine development can take 10-15 for a major mine to production .. I don't think we will see demand being meet ...if the world continues down the path of updating and increased electrification .... many Nations want to ban ICE autos from as early as 2030 !! more EVs more, Large TVs , More tech overall robots etc

SP500 Vs Commodities ratio certainly doesn't show Commodities overvalued to the SP500 market

[Baa_Baa]

KMT … ever hopefully 😂

[Xerof]

I hold SVY and ICG for copper/gold. Stavley is more advanced than ICG, but ICG has some excellent tenements in Peru, and NT, Aust

prices at close Friday SVY 61 cents, ICG 12.5 cents

[Lion_graf]

My biggest holding now is CYM, worth a look. Interesting @jbmurc I hold cnb too.

[JBmurc]

My biggest holding now is CYM, worth a look. Interesting @jbmurc I hold cnb too.


Yes most copper focused companies should continue to get market interest.... will have a closer look when I next get a chance

[JBmurc]

https://m-miningweekly-com.cdn.ampproject.org/c/s/m.miningweekly.com/article.php?a_id=579905&rep_id=5582

[JBmurc]

Copper on fire .... Great time to be holding + buying more Cu players ... $12,600 AUD per ton much more upside on Biden HUGE rescue plan

[Norwest]

Copper on fire .... Great time to be holding + buying more Cu players ... $12,600 AUD per ton much more upside on Biden HUGE rescue plan

Agree and the deficit is only going to get worse as they are going to need to start mining lower grade Cu projects

[JBmurc]

Agree and the deficit is only going to get worse as they are going to need to start mining lower grade Cu projects

Yes Purchased more MAG today had to pay 60% more than last month... their Neigbour ALK just gone into trading halt ... could well see their project head towards MAG prime Ground they acquired from Goldfields surrounded by Majors

[JBmurc]

Major copper producers are losing market share as demand for the red metal gets set to explode thanks to the clean energy transition already underway. This opens up a big gap for emerging producers to step in and fill.

This was illustrated by Newmont’s $C456m ($477.7m) cash offer last month for GT Gold, a copper porphyry explorer in Canada. Juniors with new prospective projects in tier 1 jurisdictions appear set to be well rewarded.

https://stockhead.com.au/resources/copper-supply-demand-outlook-creates-perfect-storm-for-next-generation-of-explorers-to-producers/

[JBmurc]

CNB latest ann. out some very juicy Copper targets for sure>>in the region where High grade Gold and Copper explorations results are not rare

--25,155t of copper @ 12% Cu produced ... 1900-1940 from a single steeply dipping shoot
mined down to 260m below surface and over a strike length of approximately 150m

No way those old miners would have mined out all the copper in that narrow shoots 1940 WW2 would have ceased many mining projects as skilled miners went off to war
even if we have 10kt of high grade copper near surface = $130mill Gross Cu value at present AUD values

Just look at Duchess Deeps so very prime... what kind of monster do we have at depth ..???.
And as CNB has some many targets that this target is still under consideration>>

surrounding grades backing up the prospectively of the area HMX latest high grade Cu discovery ...

sub $60mill you have got to be joking !!


Disc - thanks Mr CNB 22c seller for allowing me to fill my boots last month....

[stoploss]

CNB latest ann. out some very juicy Copper targets for sure>>in the region where High grade Gold and Copper explorations results are not rare

--25,155t of copper @ 12% Cu produced ... 1900-1940 from a single steeply dipping shoot
mined down to 260m below surface and over a strike length of approximately 150m

No way those old miners would have mined out all the copper in that narrow shoots 1940 WW2 would have ceased many mining projects as skilled miners went off to war
even if we have 10kt of high grade copper near surface = $130mill Gross Cu value at present AUD values

Just look at Duchess Deeps so very prime... what kind of monster do we have at depth ..???.
And as CNB has some many targets that this target is still under consideration>>

surrounding grades backing up the prospectively of the area HMX latest high grade Cu discovery ...

sub $60mill you have got to be joking !!


Disc - thanks Mr CNB 22c seller for allowing me to fill my boots last month....

JB I'm with you on this one got a few.....

[JBmurc]

JB I'm with you on this one got a few.....

yeah already got a good few ... came close to buying more ... instead got more CUE ---- Oil Reserves update should drop any day ...

AGC - MAG-LRS Copper plays worth keeping an eye on with exploration resource updates due.... both could fly on right results

[stoploss]

yeah already got a good few ... came close to buying more ... instead got more CUE ---- Oil Reserves update should drop any day ...

AGC - MAG-LRS Copper plays worth keeping an eye on with exploration resource updates due.... both could fly on right results
didn’t Cue update late yesterday ?

[JBmurc]

didn’t Cue update late yesterday ?

that was a progress report on revenue from new "Mahato" production JV

-the ann I'm looking forward to from Qty report -An independent reserves assessment of the PB field is expected to be released by Cue shortly, after
approvals are received from the Indonesian regulator.

-The rig will now return to PB-4 to undertake testing and completion activities, which are expected to be completed during the first half of May...

so couple anns to wake up the market that CUE is not just another hopeful explorer but a serious O&G producer for the Cap they command

[JBmurc]

Yeeehaaa CNB>>>>

https://www.fool.com.au/2021/12/17/carnaby-resources-asxcnb-share-price-explodes-46-on-spectacular-copper-find/

[freebee]

Yeeehaaa CNB>>>>

https://www.fool.com.au/2021/12/17/carnaby-resources-asxcnb-share-price-explodes-46-on-spectacular-copper-find/


Hey JB yes what a great day for CNB up a massive 55% yesterday !
Very happy to be holding, gave the portfolio a big boost for the end of the week !

[stoploss]

Hey JB yes what a great day for CNB up a massive 55% yesterday !
Very happy to be holding, gave the portfolio a big boost for the end of the week !
I'm still in JB , have to admit I let a few go at 40 & 47 yesterday , but this made up for my DUB loss and some ......

[JBmurc]

Yeah I sold a tiny few 38c two days early I purchased for 27.5c nice $1220 profit ..holding tight to my core 200k holding bring on $1-2 SP

[troyvdh]

Im sorry JB...can you please view my private message cheers.

[JBmurc]

Im sorry JB...can you please view my private message cheers.

Can you send it again hasn't come through ... I had to clear out my Inbox was running out of room maybe I deleted it...

Good to see CNB hit another high ... bring on assays

[JBmurc]

Latest out from CNB 40m 1% copper ....FROM SURFACE !!! .... thats like getting 2-3% at depth value wise ....

CNB MD>>>
“The Lady Fanny, Burke & Wills and Nil Desperandum discoveries are
rapidly emerging as a major new and vastly underexplored Iron Oxide
Copper Gold corridor with untold size potential. We are looking forward
to the commencement of the IP geophysical surveys today and the start
of drilling by week’s end.”

[Aotea]

Latest out from CNB 40m 1% copper ....FROM SURFACE !!! .... thats like getting 2-3% at depth value wise ....

CNB MD>>>
“The Lady Fanny, Burke & Wills and Nil Desperandum discoveries are
rapidly emerging as a major new and vastly underexplored Iron Oxide
Copper Gold corridor with untold size potential. We are looking forward
to the commencement of the IP geophysical surveys today and the start
of drilling by week’s end.”

JB this is certainly starting to look like something special. Great to be part of the CNB story. Nice to see you and a good number of Sharetrader punters are part of the initial discovery growth cycle.

[stoploss]

JB this is certainly starting to look like something special. Great to be part of the CNB story. Nice to see you and a good number of Sharetrader punters are part of the initial discovery growth cycle.
Very happy to be in this club . I added small holdings on 4 Jan of RNU ( after selling 500,000 @ 1.1 cent in 2020 ) and BRN, along with a decent punt on SPQ.

[Joshuatree]

Yeah looks like a great ride ahead guys.No response s/p wise to the latest announcement,it had run up so much,traders taking money off and cap raise ahead.

[JBmurc]

Yeah great close from $CNB $1.75 ... Gold project drilling results should be out any day could be the catalyst to push past $2 ... to think I was buying at 27.5c only last month how quick a company can climb on the ASX when FOMO kicks in

[Joshuatree]

OZ minerals take up $20 mill in shares @ $1.30 i make it re 11% or so dilution, s/p finished day @ $1.43. Just need more good drill results and we are off again.

[nztx]

OZ minerals take up $20 mill in shares @ $1.30 i make it re 11% or so dilution, s/p finished day @ $1.43. Just need more good drill results and we are off again.


Where do you see OZ Minerals took up all those on their own ?

The ASX Announcement suggests they along with a group of Sophisticated Investors took up approx 15.4 mil shares.

OZ Minerals' block would be a smaller portion of the total - wouldn't it ?

https://www2.asx.com.au/markets/company/cnb

1.27 pm announcement to ASX:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02478299-6A1073453?access_token=83ff96335c2d45a094df02a206a 39ff4

1.29 pm Filing ASX:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02478301-6A1073433?access_token=83ff96335c2d45a094df02a206a 39ff4

[yabster]

Oz minerals didn't take all the shares- other institutions and some Sophs also took up the offer.

[Joshuatree]

Thanks guys,just need some more good drill results now.

[JBmurc]

Yes drill results are needed .. big Copper project will see Ozl make a move can have my 80000 shares for $8

[nztx]

https://themarketherald.com.au/oz-minerals-asxozl-posts-record-fy-revenue-of-2-1b-2022-01-27/

OZ Minerals (ASX:OZL) posts record FY revenue of $2.1b



As part of the group’s exploration plan, it invested $5 million in Carnaby Resources (CNB) after the quarter ended.

[Mr Slothbear]

Macquarie wasn’t impressed with OZLs recent results.

Aeris AIS had a shocking quarterly out a few days ago AISC shot was up basically losing money taking it out of the ground.

am extremely happy with my only copper holding Sandfire. Their presentation a week ago was excellent, diesal cost pressures but ahead of target production and reaffirmed guidance, firing on all cyllanders and will get the keys to MATSA and begin big Spanish exploration in a few days, exciting times.

[Drew95]

Chile has taken a tiny, but symbolic step towards nationalising some of the biggest copper and lithium mines in the world – a move, that if it ever happened, would damage the likes of BHP and Rio Tinto, directly, while boosting them and other Australian companies mining both metals, and Australia as a whole.

https://www.sharecafe.com.au/2022/02/02/chile-moves-toward-mine-nationalisation/

[stoploss]

CNB shaping up well, hold tight ..........
https://stocknessmonster.com/announcements/cnb.asx-6A1075724/

[Joshuatree]

Bet me to it , WooHoo. Major Discovery Confirmed at Nil Desperandum (https://hotcopper.com.au/threads/6567221/)

Hit my sell price am out for now

[nztx]

Lots more ride left in CNB IMo - in for the longer ride

JB is bound to be smiling :)

[freebee]

Fantastic day for shareholders with more to come imo

I've got half of my lot for sale at $2 we'll see if it gets there today

[nztx]

Fantastic day for shareholders with more to come imo

I've got half of my lot for sale at $2 we'll see if it gets there today


CNB has just touched AU 1.99 on CHI-X

[Aotea]

Make that 203cps. Up 50% today!
21bagged this one today...good news for those who have it in the 2022 stock comp

[nztx]

I guess JB may be in later telling us it's time for a job change ;)

Well done Aotea - Congrats on the achievement :)

[nztx]

Anyone riding with DCX - the 18% Free carry with CNB ?

[Joshuatree]

Make that 203cps. Up 50% today!
21bagged this one today...good news for those who have it in the 2022 stock comp

Wow thats a megabagger congrats.:t_up:

[Aotea]

My first 20bag. Some good bugger on this forum mentioned it so thank you!

[stoploss]

Anyone riding with DCX - the 18% Free carry with CNB ?
Hi Nztx, I have purchased 2 mil average @1.25 cents . Think a few people on HC a little carried away saying they have 18% of CNB , when they have only that share in one of the tenaments. Anyway I have put the CNB in the bottom drawer as it looks like a once in a lifetime hit . I think if it’s half as good as some believe someone maybe even CNB will take out DCX .
JB thoughts ?

[nztx]

Hi Nztx, I have purchased 2 mil average @1.25 cents . Think a few people on HC a little carried away saying they have 18% of CNB , when they have only that share in one of the tenaments. Anyway I have put the CNB in the bottom drawer as it looks like a once in a lifetime hit . I think if it’s half as good as some believe someone maybe even CNB will take out DCX .
JB thoughts ?


Well done - I have a pile here too .. true it's a share in just one of the tenements.
DCX also have a similar interest in further tenement(s) that I think were sold on & in
the HMX (Hammer) camp with a residual obligation too, from my reading

Tried buying further DCX today, but couldn't get any buys to go through

GeoFiji's postings on HC are pretty good informative reading

[Aotea]

Geofiji is a smart and selfless person in sharing thier knowledge and instincts.

[freebee]

My first 20bag. Some good bugger on this forum mentioned it so thank you!


20 bags! well done Aotea i bet that puts an extra bit of spring in your step this weekend !

i think I too first picked this up on here, i think it was that good bugger JB so cheers JB and cheers to us all

[stoploss]

Well done - I have a pile here too .. true it's a share in just one of the tenements.
DCX also have a similar interest in further tenement(s) that I think were sold on & in
the HMX (Hammer) camp with a residual obligation too, from my reading

Tried buying further DCX today, but couldn't get any buys to go through

GeoFiji's postings on HC are pretty good informative reading
Been doing some reading up on DCX
This is a good summary of what they have & how it may play out .Quite a few options been issued ....
https://stocknessmonster.com/announcements/dcx.asx-6A1072884/

"The Greater Duchess Copper Gold Project, held by Carnaby Resources Limited (ASX:CNB or “Carnaby”) contains several tenements that are subject to a 17.5% free-carried interest by DiscovEx and are held under a Joint Venture (“JV”) between the two parties. Carnaby are required to solely fund all costs in connection with the activities of the JV, inclusive of exploration and development until a Decision to Mine (“DTM”) Following the presentation to the JV committee of a positive Definitive Feasibility Study (“DFS”) and a DTM is made, Carnaby will have a first right of refusal to acquire DiscovEx’s interest, equal to the fair market value. If Carnaby does not elect to acquire this interest, DCX may either contribute or dilute. If DiscovEx’s interest is diluted to less than 5%, Carnaby must acquire DiscovEx’s interest for fair market value of the remaining interest.

The free carried interest includes 12 tenements, covering an area of approximately 293km2 and is located approximately 100km south-east of Mt Isa in North Queensland. In addition to the Carnaby interest, DiscovEx also holds a 2% royalty over Hammer Metals Ltd (ASX: HMX)
held tenement EPM13870, which contains a portion of the Kalman Deposit including the downplunge extent. Tenement locations are shown in Figure 6. As per the ASX announcement by Hammer Metals dated 27 September 2016 the breakdown of the resource is as follows:

Changes to Capital Structure At the 2021 Annual General Meeting held on 7 October 2021, Shareholders approved the issue of 33,000,000 unlisted options to directors and former director with expiry date 4 years from the date of issue"

[yabster]

Have a few CNB - so hoping Duchess deep and some more of those IP Anomolies prove this up to be a monster - Geofiji has some great GEO knowledge- enjoy his posts. Also in HMX and recently CPM - CPM have tenements around CNB, good rock chip % and historic mines -Market cap $22m. Another I am watching is M3M -Russell Davis of GOR/HMX Fame is on the Board - over in WA.

nb: M3M just had some average drill results- but still watching.

[yabster]

yeah agree re nearology- but risk reward for CPM is worth a dabble. Also CNB was really a nearology play-ironically re DEG and the Strelley tenement.

You will be retiring soon JB! Bit like Ajini on HC - did nearly $1m in a day on CNB - must of been holding 2 mill- I am small fry compared to that!

[yabster]

Good luck with that JB- sounds like a great goal- and with 80,000 CNB you are well on the way! (copper, gold and don't forget the Lithium!)

[JBmurc]

Looks like someone is deleting my posts FFS ...

[JBmurc]

Worth a watch ..and reason why Copper stocks will be one of my key investments next few years

https://www.youtube.com/watch?v=ge6AVJZpxTc&t=62s

[Mr Slothbear]

Looks like someone is deleting my posts FFS ...


thats odd I read your post and certainly didn’t see anything wrong with what you said. Commendable effort.

any of you aware / invested in kingsrose on ASX?

55 mil market cap
28mil cash on hand. Earlier in the year they actually had a negative enterprise value where market cap was lower than cash on hand.

plus a gold mine in indonesia they’re looking to sell which should give decent cash / royalties which will go to fund the highly prospective tenements in scandanavia and finland with proven high grade copper, gold, platinum etc…

management bought a large number of shares on market today I see

i don’t own any but am doing my due dilligence

[nztx]

ASX:CNB

Ann: Nil Desperandum Continues To Grow

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02485671-6A1076676?access_token=83ff96335c2d45a094df02a206a 39ff4

[Joshuatree]

Not good ,mostly re 1/3% of copper table 2.S/P drops to $1.70

[nztx]

Not good ,mostly re 1/3% of copper table 2.S/P drops to $1.70


Getting sold down - could be Daytraders & same tree shake patterns seen in past weeks repeating..

Reading into the report - suggests CNB possibly aren't onto the larger mother lode lurking just yet ;)

[JBmurc]

Getting sold down - could be Daytraders & same tree shake patterns seen in past weeks repeating..

Reading into the report - suggests CNB possibly aren't onto the larger mother lode lurking just yet ;)

Yes had CNB dropped this latest ann. yesterday we would have seen the SP well over $2 ... but the Markets are getting a good smashing on FED talk of raising interest rates has well spooked the markets ...all of my shares in the red .. many CNB holders will have stop-losses ...Big holders that want more sell down on weak BEARish days SL fuels selling pressure .. seen it all before and will see it again when CNB is trading above $5

[Joshuatree]

Back in for another feed @$1.49. Drill baby drill.

[Joshuatree]

Jumped back up 18% on no news after selloff!!

[Joshuatree]

CNB jumped back up 18% today on no news.

[JBmurc]

BOOM CNB

24m @ 5.0% Cu, 1.3 g/t Au
Inc. 12m @ 8.1% Cu, 2.2 g/t Au

WE have a very nice looking High Grade Discovery >>> BUY N HOLD

[Joshuatree]

https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4wa5y RPzv%2FR3%2FbFiGug%3D

Traders selling into result.I saw it too late,will keep holding atp.

[JBmurc]

https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4wa5y RPzv%2FR3%2FbFiGug%3D

Traders selling into result.I saw it too late,will keep holding atp.

I would like to be buying more ... I think much like GEOfiji(ON hotcopper) ....heres his post today on CNB ann

If you think the news in this release is Nil Desperandum you have not read the announcement closely enough. Nil Desperandum has produced some great new drill results and the geology is starting to be a lot better understood. To the poster who said this was overhyped and a small high grade shoot I suggest you read all the drill results since June 2021 to really understand how large the mineralised zone is even without the high-grade breccia shoots. This was going to be a mine without the shoots and they are a very nice bit of cream on top.

The real news is the width and grade of mineralisation at Lady Fanny over a big strike length and fairly shallow. This is going to be one very rich open pit mine which is going to be very profitable. Lady Fanny is the news here. Have a close look at the intersections and the sulphides logged but not yet assayed and it is an absolute cracker. Multiple zones making a great width of ore across an open pit with some substantial high-grade zones within the much larger tonnage.

Carnaby are now declaring this as a development project and it is very clear that Lady Fanny open pit combined with open pit and underground at Nil Desperandum will be a very profitable mining project. We don't yet know if there will be an underground zone at Lady Fanny because drilling is shallow. When the deeper IP anomalies have been drilled out this will become clearer.

Perhaps Carnaby was the next Carnaby after all.

[Charlie]

Hi guys.
any of you looked at DEV .
DIRECTORS seem to be buying .
up 500 % last 5 years
now 50c . MCAP 157
copper/ gold.

[JBmurc]

WOW great results from CNB >>>> should have purchased more ... I keeped looking at CNB last few weeks thinking they were great buying ...still got 75k shares but wish I doubled when I hade a chance will only be able to add a few today >>>

STUNNING DRILL RESULTS
FROM GREATER DUCHESS PROJECT
68m @ 2.4% Cu, 0.4g/t Au from 40m
Inc. 42m @ 3.6% Cu, 0.5 g/t Au

[JBmurc]

CNB continue to impress showing new anomalies Light Up 3km Greater Duchess Corridor linking the two Copper discoveries into one major find ???

If only copper wasn't getting crushed from recession FEAR range CNB would be well over $2 ... if you have a longer term outlook I think CNB could do very well ...

https://themarketherald.com.au/carnaby-resources-asxcnb-identifies-new-anomalies-at-greater-duchess-2022-06-23/

[nztx]

CNB continue to impress showing new anomalies Light Up 3km Greater Duchess Corridor linking the two Copper discoveries into one major find ???

If only copper was getting crushed CNB would be well over $2 ... if you have a longer term outlook I think CNB could do very well ...

https://themarketherald.com.au/carnaby-resources-asxcnb-identifies-new-anomalies-at-greater-duchess-2022-06-23/


With you on that - JB

[kiwical]

Another warning I saw today about the looming copper shortage. This article/report from a couple of days ago says the 2030's will be the crunch time. Even with increasing recycling and possible new discovery scenarios. They say the net zero 2050 target won't be achievable because of a lack of copper. https://www.cnbc.com/2022/07/14/copper-is-key-to-electric-vehicles-wind-and-solar-power-were-short-supply.html

[nztx]

The Big Australian goes hunting in the pool:

OZL are a holder in CNB from recent placement from memory

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02550662-3A598585?access_token=83ff96335c2d45a094df02a206a3 9ff4

BHP Announces Non-Binding Indicative Proposal to Acquire OZL

And OZL tells BHP to stuff off:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02550649-2A1389424?access_token=83ff96335c2d45a094df02a206a 39ff4

OZ Minerals Rejects Indicative Proposal from BHP

[JBmurc]

The Big Australian goes hunting in the pool:

OZL are a holder in CNB from recent placement from memory

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02550662-3A598585?access_token=83ff96335c2d45a094df02a206a3 9ff4

BHP Announces Non-Binding Indicative Proposal to Acquire OZL

And OZL tells BHP to stuff off:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02550649-2A1389424?access_token=83ff96335c2d45a094df02a206a 39ff4

OZ Minerals Rejects Indicative Proposal from BHP

I'd say BHP will lift the offer .. OZL Copper project would be a great fit as nearby BHP operations.. so yes BHP could well end up being a holder of CNB shares

[Joshuatree]

CNB with 75m @ 1.7% copper.Could be alot more in the 10km of tenements to prove up.

[Aotea]

CNB with 75m @ 1.7% copper.Could be alot more in the 10km of tenements to prove up.

@Joshuatree- an undervalued company with so much potential and so few SOI.

[JBmurc]

Ans OZL continues to buy more CNB shares .... I really need to get back on board CNB >>>> come on MAY drop another major OIL discovery

[nztx]

BHP's chase of OZL back on with further offer

Guess that ultimately may leave CNB with BHP on the Share Register for whatever that might bring

[JBmurc]

https://www.mining.com/web/shutting-huge-copper-project-shows-why-miners-worry-about-starting-them/

Copper miners and analysts have forecast growing deficits starting in the mid-2020s, driven by rising demand for the metal in wind and solar farms, high voltage cables and electric vehicles.

[freebee]

Great ann from CNB today - Mt Hope shines with copper and gold! Lots to like here and plenty of drilling to come
Happy holder

https://www.asx.com.au/asxpdf/20230202/pdf/45l75w7czhp23t.pdf

[JBmurc]

https://www-cnbc-com.cdn.ampproject.org/c/s/www.cnbc.com/amp/2023/02/07/there-isnt-enough-copper-in-the-world-shortage-could-last-until-2030.html

[freebee]

Nice announcement from CPM today with drilling to start at Mt Isa - Ardmore south next week - early rockchip sampling indicating high copper/gold mineralisation. Drilling commencing and then waiting for results is always the most exciting time for shareholders! Cooper Metals and Carnaby resources (CNB) nearby - copper plays, holding both

Managing Director Ian Warland, commented:
“RC drilling is now planned to commence next week, with the successful completion of a heritage
survey and the securing a drill contractor in the area. We will prioritise the strong IP chargeability
anomaly with coincident copper-gold anomalism. Once drilling is underway, we will fast track any
samples through the Mt Isa laboratory and provide updates as information comes to hand.

[JBmurc]

Analyst valuation >https://static1.squarespace.com/static/5dcb886c7d6813437e9216a8/t/645b0c1f6c18721cd88cabdb/1683688489095/MST+Access+-+RXM+Initiation+Report+-+9May23.pdf

Investment Thesis: RXM Has Got It Just Right
Initiation of Rex Minerals (RXM) - valuation of A$0.87 per share.
Right project – flagship project, Hillside Copper:
final investment decision targeted for Mid CY2023
The Hillside Project has an optimised and updated feasibility study completed. Key project metrics include:
• 1.9Mt Cu + 1.5Moz Au Mineral Resource and 0.99Mt Cu and 834koz Au Ore Reserve
• fully permitted with key transport and power infrastructure in place
• Stage 1 (11 years) with annual payable metal of circa 42kt Cu and 30koz Au while only extracting
around half of the current Ore Reserve
• pre-production capital cost of A$854m
• 100% ownership giving funding flexibility, including the potential introduction of a strategic partner
• final investment decision targeted for Mid CY23
• Stage 2 development shows potential for 20+ year operation
• substantial potential for Mineral Resource and Ore Reserve growth, leading to further potential mine
life extension and higher production rates.



Buying low 20c range ... one I'd like to growth a decent position and HOLD LT .... much like BSE ... for a the future high yield

[Daytr]

RXM's project has big Capex attached.
I had small dealings with Richard Laufmann when he was at Ballarat & Indophil. What he pulled off at the latter was quite incredible.
He's a smart guy & as I always say, follow the management.

[JBmurc]

RXM's project has big Capex attached.
I had small dealings with Richard Laufmann when he was at Ballarat & Indophil. What he pulled off at the latter was quite incredible.
He's a smart guy & as I always say, follow the management.

Yes a large CAPEX but thats going be much the same range*(inflation) for any Aussie based miner that wants to bring on a material production profile..

Good chance a major miner will want to JVP the project as forward Cu demands are looking primed for much higher spot prices

[Joshuatree]

I'm thinking of topping up on CNB as price drops despite more great drill results

[Daytr]

I have one I am working up a position on that I will share at some point.

CNB looks interesting & has good people. I used to meet with Greg Barrett when I was in Perth. Good bloke. Market cap is quite high for a company not in production, but they certainly have some good dirt.

[JBmurc]

I'm thinking of topping up on CNB as price drops despite more great drill results

Yeah I'm not sold on CNB at present still no JORC resource ...most of the drilling results are down-plunge which isn't true width but a third .. makes for great ann numbers but when it comes to mining I'm not so hyped as of yet yet ... (I've been burnt before on high grade narrow veins) JORC is coming so worth waiting for that .. but even more so Reserves which will only come from extensive DFS work ..

For me I look at RXM worth 30mill less see a company that is easy several years ahead of CNB with JORC reserves DFS 30yr LOM and overall two great looking projects SA renewable power a good look for a Copper producer -- Cu + USA Au ...

When you look at RXM mine plan its looks idea for the open-pit model flat near surface open at depth and along tend //

CNB is about to announce first JORC this Qty so I'd be least waiting for that before throwing more funds in IMHO PFS late this year ...

AS we know Copper demand is meant to surpass production by 2025 and only keep going ...

AS a T/O target RXM also has it if funding is reached late 2025 production along with very large land holding in the mineral rich SA

[JBmurc]

I continue to be very Bullish Copper going forward... I continued to look over many ASX plays but they just don't stack-up valuation wise to many I'm coming across on the TSX ....like "Adventus mining" one of the best global high-grade Copper Gold silver projects some funding in place ...with a massive land holding in Ecuador great shareholder support from local insto and major insto .. for similar value to the likes of CNB+HMX or RXM and these don't even come close

https://www.adventusmining.com/storage/presentations/adzn---corporate-presentation---2024-q1-2024-02-12---final-web-1707979780.pdf

Surge copper in BC Canada for spec play huge lower grade 5.1Bill lbs copper + Gold , MOLY ..for 20mill AUD


another I might purchase.. OCO:TSX Oroco Resource Corp.


One of the largest and easiest copper deposits in development today. OrocoCorps Santo Tomas contains 7.6 billion pounds of #copper 800k ounces of #gold 77 million ounces of #silver and 178 million pounds of moly. Low strip on a ridge....