Caz nearology looks pretty impressive on the basis of what CLA...

Caz nearology looks pretty impressive on the basis of what CLA are sitting on

Ok that went through - this was one I was trying to post in reply to bigfatsirion posts - If its any help I've talked to some people involved (not BB) too and what the new "anti-cline" areas to the north appears to show to any rational Geo is that there is a bowl formation to the DOF. The first lot jorced was steeply inclining down as we know (which is expensive to mine) then it appears to gradually flatten out in the middle of the valley from around 600 meters see holes 253 and 265. Probably it will then curve back up the valley side towards the northern DOF. Just to an amateur like me it also insinuates that the feeder zone should be nearer the bottom of the bowl causing it.

this is good for 3 reasons
1. its probably gonna add a load more reserves to the upcoming JORC increase.- I personally estimate we'll that along with the western drilling and this extension now go over 200 million tons JORCED which is huge! (that's if the JORC geo rationally sees that the Dof continues on to these holes -I believe they will chuck some more holes in between this week to prove it.

Then It doesn't matter that much how low cobalt goes in the short term as the big boys will have to look at this resource as probably the biggest resource in the world outside DRC. (-if also we look at what NRE and CAZ are hitting next door) as there is a humongous system around there. Any buyer recognizing/forecasting that there will be a shortage of cobalt coming over the next decades will probably have to consider getting a hold of this resource. (maybe the whole area?)

2. It's much cheaper to mine level underground. so this could drop the CAPEX.

3. if that can tie in with the SS showing we can start with an open pit in the west side then all the better for a lesser capex startup for the scoping study figures.

Unfortunately, it now means the JORC upgrade will have to be a bit delayed (maybe to Feb) to include this new section in the New SS - but its worth it long term no?.

So this baby is growing bigger.- of course, its a shame about the cobalt price just now! My swiss trader mates who short-term turned bearish on the Co price last summer and dumped all their stocks ( NOTE: I wish I'd dumped some CLA paper then when they told me!) still remain extremely bullish on the Co price longer term. They still feel the big mining companies all see it and are now looking for that stable viable big future supply.

As for the sky tem - I believe holes will be drilled (or maybe are now being) into the main anomalies to test them - this is worth it with CLA having spent around AUD 700,000 on the survey? We don't want to sell this off as just a Co play and then find we missed all the other good stuff on our huge tenements that we don't know about yet.

The options cashed up in DEC have refilled the coffers. I calculate there still just over 10 mill AUD in the bank. they are burning AUD 2 mill a quarter now, but the main cost is drilling holes at 70,000 a pop. When (if) that stop the cash burn rate will reduce so they have plenty of time to keep improving this resource and making it sexier and sexier for the suitors now sniffing and also those who are not.