Hi daytr, what is your exit price/strategy on Castile?
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Hi daytr, what is your exit price/strategy on Castile?
Hi MacKap, firstly I expect them to get banked.
I am hoping they go all in debt, however the Bank might ask for a mixture of equity & debt. Peter Cook's record is he likes debt rather than dilution so if there is an equity raise it should be a small percentage. If Macquarie back it which is likely again due to the historic relationship with Peter Cook, they will probably take some equity as they have done very well out of this in the past.
So if they get banked I would think their market cap goes to in excess of $100M & as they near production ramps up towards $200M.
Once in production I would hope to see a MC of around $400M, possibly much higher if they have further exploration success which I think is likely.
When do I get out? I'll tell you when it's done, but
I may offload some if the market cap does what I think or more once it's banked but likely to hold the majority until it's in production. Obviously it also depends on things like what the gold price does. I'm bullish on gold as well & wouldn't be surprised to see gold hit $3k per toz, but my estimations above are based on the current gold price.
All hypothetical of course & there is a lot of water to go under the proverbial bridge so to speak.
I'm not recommending it to anyone, just putting out my thoughts.
Cheers
Thanks, appreciate your thoughts
Now for something to enjoy.?
Well I did not know what thread to post it on..
.https://stockhead.cmail20.com/t/d-l-...y-yupddjlly-h/
Interesting read Percy.
Little side tittle tattle.
I had Swedish girlfriend years ago & her mother was best friends with the blonde from ABBA. Apartment in Monaco etc.
If I had been a real gold digger... 😅
Lol
Hey,can you share a little about Peter Cook and his successes in other companies? A mate says he fell out with a Peter Alexander.
Relentless sell down in CST ATM,someone /insto/ Soph selling out ?
I dealt with Peter Alexander over a number of years when he ran Dominion Mining and he was a good bloke.
Not sure that Peter Cook had many dealings with him, but he could have. Your mate could be getting mixed up with what was known as the Three Peters. Peter Cook, Peter Newton & Peter Cunningham who were all on the board with Mark Okeby at Hill 50, Peter Cook's first real success story.
They all went onto Abelle & Metals X & I think there may have been a falling out with Peter Cunningham back then over the Rennison Tin mine purchase.
Either way Abelle was another success story.
As was Westgold Resources.
Here is an article for 2018
Peter Cook, Managing Director of Westgold Resources (theceomagazine.com)
Another copy & paste.
Over his distinguished career he has been recognised by industry, being awarded the GMJ Mining Executive of the Year in 2001, the Asia- Mining Executive of the Year in 2015 (Mines & Money), the Mining News CEO of the year in 2017 and received the Gavin Thomas Mining Award in 2019.
Either way you should obviously make your own assessment as we all should.
It's a penny dreadful stock, high risk, high reward.
Actually I have a vague recollection that Abelle might have tried a predatory takeover of Dominion back in the day. So maybe that's your what mate was referring to.
I wouldn't like to be on the other side of the negotiating table with Peter Cook, he can be ruthless. Great guy to have dinner with though & normally picks up the bill!
CST - Castile Resources looks like it may found a bottom. Traded as low as 4.8c now back to 6c today. No sellers at the moment until 6.5c. Seems like small but aggressive buying. Is there something brewing?
I'm locked & loaded, although if I see another opportunity I might pick up a few more.
The ore is pretty deep down though ehh,re 500 metres gotta cost more to extract so grades need to be pretty good.Still holding a few but have bigger holdings in GCY,OAU and CAV
Not a recco
500M isn't overly deep. The Hill 50 mine that Cooky cut his teeth on was quite a bit deeper.
ASIC estimate is circa $A1330 per ounce with 85,000 AUequiv production per year. With gold trading approx A$2950/toz so provides a good margin.
I think the AU grade equivalent for all metals is 5.7gpt.
Purchased first Gold/base metal producer for some time ... KSN ... is micro cap ...small production profile but also has low EV around 30mill ...
Mineral Hill Gold & Copper Mine, NSW
• Record Quarterly Production at Mineral Hill – 4,778oz gold sold at average
price of A$2,968/oz with AISC A$1,493/oz delivering $14.4m in sales and
$7.1m in operating cash flow
Cheers JB Here's a short presentation on CAV
https://m.youtube.com/watch?v=IQA2jDgntkM
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