Celsius Resources release promising cobalt copper exploration results
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Shares in Celsius Resources (ASX:CLA) are continuing to run on the back of extremely promising cobalt copper results released last week in relation to the group’s Opuwo project located in Namibia.
The initial momentum arguably came from the first four holes drilled with the results highlighted below, however this has been backed up by further promising drill results released on Thursday.
Providing some perspective regarding the company’s share price performance over the last week, the S&P/ASX 200 Materials index (XMJ) has only increased by 1.3%, while CLA has gained more than 20%, hitting an intraday high of 4.6 cents on Wednesday.
It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.
As can be seen from the following strong assay results in the first four holes of CLA’s 20 hole program, including the substantially higher grade zones within those intersections, there appeared to be more promising news on the horizon.
Further drill results confirm extensive mineralised system at Opuwo
The fact that the company still has 11 holes left to drill with regular assay results to be released in May is perhaps the reason behind the strong share price momentum.
The early outperformance in terms of grade and thickness against management’s expectations augurs well for the future.
As CLA highlighted, the average grades and thicknesses are stronger than the two discovery holes drilled in 2015, providing a sense of optimism that a significant tonnage of cobalt, copper and zinc can be defined at Opuwo.
On this note, CLA’s Managing Director and experienced campaigner in the cobalt/graphite space, Brendan Borg said, “The assay results from Opuwo continue to exceed our expectations and demonstrate that an extensive mineralised system is present at the project”.
With regard to the recent surge in the cobalt price, Borg said, “We expect continued strength in the cobalt market in 2017, which will have a positive impact on our planned project Scoping Study.”
Drilling has commenced in the western sector of the project where the highest grades of cobalt were identified in surface samples and trenches.
Diamond drilling will commence in early May, providing samples for first-pass metallurgical testing. The planned metallurgical studies, along with preliminary mining studies and resource definition drilling are expected to contribute to a Scoping Study for the project plan for completion before the end of 2017.
Upcoming results from both initiatives should provide ample data for investors to gauge the likely Scoping Study scenario, potentially providing further share price upside.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
