DoubleDown, you have no argument with me about the timing of the announcemnt to raise capital. I reckon the info leaked and it only takes one or two shorters to drive the price down and punish the lot of us. Anyway, it is done and we have to make the best of it (average down if we can scrape up some cash). I'll add a bit of info on the cos of drilling (from my experience elsewhere). These costs are mostly standard and as we know the speed of the work depend on factros such as weather, etc. Diamond drilling is the most expensive (about $150-$200 per metre) but most of the drilling carried out by CCZ is probably at about $100 per metre. The analysis by ARL is about $30 per sample (for a suite of about 48 metals), and add about $10 for gold analysis per sample. So a drillhole of about 150 metres with analysis of about 100 rock chips, could have cost about $15,000 to drill and possibly $3,000 to $4,000 for the analysis. But the analysis depends on the appearance of the drill core or chips that are obtained. The experienced geologists at CCZ can probably use their eyes and some other tricks to determine which samples should be fully tested. If they are in no rush or they just want to be careful, then they could archive the drill chips and work their way through them steadily. So the costs of analysis may be delayed in this steady as she goes approach. Notice that in the lastest drill result they said they were surprised at how high the grades were, which probably says that they underestimated the copper grade and were scrathing their heads when the results came out. The geologists are not infallible, but they are pretty good.
CCZ Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
(20min delay)
