Ashanti were joint lead managers in our 4.2m raise last August....

Ashanti were joint lead managers in our 4.2m raise last August. Looks like their meeting/presentation with CZI/OZL last week impressed.

http://www.ashanticapital.com.au/news

Ashanti Headlines

Cassini Resources Limited: (CZI.ASX, 8.7cps, m.cap A$30.1m with 345.5 SOI, Cash $4.3m, Base Metals Explorer)  CZI has announced encouraging results from recent drilling at the Succoth Deposit within the West Musgrave Project (OZL 51%, CZI 49% - OZL earning up to 70%) in WA. Succoth Deposit is a large, Inferred copper resource of 156mt @ 0.60% Cu, located only 13km northeast of Nebo that could have significant benefits to the Project by providing additional mineralisation to a future mining operation at Nebo-Babel. Three diamond drill holes for 1,883.3m were completed in late 2018, infilling a strategic section critical to resolving the folded stratigraphy model hypothesis (Figure 1). Significant results from the program include 76.3m @ 0.71% Cu & 0.17g/t PGE from 46.7m (CZD0096),  92.55m @ 0.75% Cu & 0.19g/t PGE from 271.45m (CZD0097) and  141.3m @ 0.50% Cu & 0.11 g/t PGE from 431.5m (CZD0098) The results have confirmed thick zones of copper mineralisation that support a favourable, folded mineralisation geometry, with significant implications for future resource updates and mining evaluation. Drilling has also provided further evidence of a proximal source of nickel sulphide mineralisation. The Succoth Deposit presents future optionality on copper with likely low capital intensity development costs that may support a multi-decade project in the region. A second infill section requiring approximately 2,000m of drilling will be undertaken to confirm the folded geological interpretation extends along strike. Site works have already been completed and drilling will commence early in the 2019 field program. Cassini Managing Director Richard Bevan commented, “The importance of these results goes well beyond the assays themselves. They support a favourable geological interpretation that has significant potential benefit for the scale of the resource at Succoth, its amenability to open pit mining and our goal of building a multi-decade mining operation in the West Musgrave. The perseverance of our geological team is successfully unlocking the potential of Succoth and we look forward to further drilling success in 2019”. A link to the full announcement can be found here Please contact the desk on +61 8 6169 2668 should you wish to discuss further OZ Minerals Limited (OZL.ASX, 1027cps, m.cap A$3.33B with 323.9m SOI, Cash $505m, Copper Explorer /Developer) Ashanti was pleased to host a presentation last Thursday from Andrew Cole, the CEO of OZ Minerals.  Andrew provided a impressive overview of the business and the culture in which the company aims to operate.  OZL is focussed on tier 1 assets with multi-decade mine life and Andrew highlighted the structured approach they take in evaluating and developing base metal projects.  The West Musgrave Project was prominent in the presentation providing a positive read-through for Joint-Venture partner Cassini Resources (ASX.CZI). OZL remains our preferred pick for large cap copper exposure. Please contact the desk if you would like to discuss further.