Good news keeps a comin thick n fast ,no pullback atp
https://hotcopper.com.au/documentemb...2FB65rFiGug%3D
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Good news keeps a comin thick n fast ,no pullback atp
https://hotcopper.com.au/documentemb...2FB65rFiGug%3D
ORA has some nice grades. I need to to do some more reading on the geology as I have seen mention of quartz & the grades might suggest a vein type structure although the consistency of length of strike suggests not.
The share has obviously been heavily diluted over time, not that matters for new holders but they do seem to have a relatively high cash burn rate with high non operating costs.
I have been loading up on CST, market cap now around $18M. Infrastructure on care & maintenance so once BFS is completed should be in production fairly quickly. Central project has a return of $675M over 7 years. Has plenty of upside from exploration and potential second project.
Hi Daytr
CST as in Castille resources?
Yep. It's been falling in the last few weeks & I have been averaging in.
I used to have dealings with Peter Cook back in my finance days. I would almost invest purely based on him being Chair, but it seems ridiculously undervalued to me.
Interestingly Ram Shanker Kangatharan is their top shareholders & he has just topped considerably as well & he's no mug.
Be interested in your thoughts.
Hi FTG, I don't think technical trading is particularly usefull for small cap exploration stocks with poor liquidity.
This is an investment in its fundamental potential.
If it goes towards 6c I will likely pick up more.
At a $15M market cap it has the potential to go to $400M.
The initial project returns of $675M over 7 years of production. In that time I have no doubt exploration will extend the mine life and then there is the potential for at least one other project.
US credit downgrade by Fitch should be good for gold.
Hi Daytr I thought so also,but it did not happen overnight.
No it didn't but only down about 0.5%, with both copper & oil down over 1%. NZD even lower again. Gold in both NZD & AUD is higher than it was yesterday.
The dollar is quite a bit stronger overall which is counter intuitive considering it was the US that was downgraded.
Assets sold, dollar stronger I suppose.
I still wouldn't be surprised to see gold do better out of this. In 2008 gold got smashed in the initial sell off of everything & then went & tripled in value. Not suggesting gold is going to triple but I wouldn't be surprised to see it back above it's highs by some margin.
Caution for CST should reign as the knife continues to fall (hard). DOWN another 18%+ over the last week. Smashed through the previous ATL of 0.06 and today we see it printing yet another ATL, of 0.051!
The destruction of value over the last 9+ months has been hideous. It appears that the 'weighing machine' is telling a story, or two.
Regardless of how you read the tea leaves (TA, FA or gut feel) be smart and DYOR folks.
Hi FTG, Yep I wish I had waited before starting to buy, but I picked up more yesterday & will pick up more. I have averaged in at about 7.1c.
I suppose I am relying on my experience and personal knowledge of the management let alone the near term project they have that I expect to be banked.
Peter Cook has a very strong history of being banked for projects and for delivering huge returns for shareholders.
They also have $5.5M in the bank, with a burn rate of around $600k per quarter & market cap is now down to $13M. The cash in bank should be enough to get them through to BFS.
Exploration potential is high with 4 - 5 targets already identified mineralization including a potential 2nd base metals project which has a resource of similar size in terms of cashflow in excess of $A1Bln as Rover 1.
Each to their own.
And I have just been filled on my latest CST order at 5.1c. Happy days.