# CHZ - Chesser Resources



## moses (19 October 2007)

Chesser has a number of South Australian Projects covering a total of 2,603 square kilometres that are considered prospective for gold, copper, nickel and uranium.

Three projects:-

1) Wynbring
Wynbring Joint Venture with Platsearch NL in the Fowler Domain has a geological setting similar to the Thompson Nickel Belt of Canada, which contains some of the world’s largest nickel deposits. The joint venture will target nickel sulphide deposits, shear hosted orogenic lode gold deposits and explore the potential for paleochannel hosted roll-front uranium deposits and mineral sands in the Tertiary sediment cover.  Chesser has secured funding for the planned drilling program from The Primary Industries and Resources South Australia (PIRSA) through the Plan for Accelerating Exploration (PACE) assistance scheme.

2) Cedric Bore
Cedric Bore Project has the potential for Olympic Dam or Prominent Hill Style IOCG deposits, Tanami style orogenic lode gold deposits and paleochannel hosted roll-front uranium deposits in the Tertiary sediment cover.

3) Messent
Messent Project has potential for base and precious metal deposits and covers 408 sq km of basement volcanic and intrusive rocks of Cambrian age believed to represent a continuation of the mineralised Mt Read Volcanic belt in Tasmania, which contain significant VHMS style base metal deposits.


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## moses (19 October 2007)

Chesser has some nice looking charts, in particular the SMA chart. I've included the actual depth queue at around 1:00pm today as sellers are getting very thin.


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## spooly74 (29 November 2007)

Like you mentioned moses they have a number of projects in SA (one is PACE funded) but I think it`s the Sisorta project in Turkey thats the one to watch medium term.

CHZ Share structure
– Ordinary fully paid 33,530,000
– Escrow 6,720,000
– Options 7,500,000
• Market cap fully diluted: about $26 million

Moses, could you pop up another SMA chart if you get a chance, cheers.


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## spooly74 (5 December 2007)

Ann out this morning :

New high grade gold zone intersected on Sisorta Property, Turkey

*Highlights*
• New high grade gold zone intersected in silica cap target area 400 metres to
west of previously drilled main zone.
• 35.2 metres at 3.60 grams per tonne gold including 10.1 metres at 6.04
grams per tonne gold intersected in oxide material
• Existing mineralised zone extended with an additional intersection of 34.7
metres at 1.62 grams per tonne gold in oxide material from surface
• Assays now received from the six drillholes completed in 2007
• Expanded drill program planned for 2008

Chesser Resources Limited (ASX:CHZ) is pleased to announce the discovery of a new
zone of high grade oxide gold mineralisation in new drilling on the Sisorta property.

*Significant new drill results from the project include:*
• 35.2 metres at 3.60 grams per tonne gold from drillhole Sis17 starting at a depth of 113.3 metres, including 10.1 metres at 6.04 grams per tonne gold
• 34.7 metres at 1.62 grams per tonne gold from drillhole Sis13 starting at surface,
• 37.7 metres at 0.66 grams per tonne gold from drillhole Sis16 starting at surface,
• 20.8 metres at 0.6 grams per tonne gold and 0.38 percent copper from drillhole Sis15 starting at a depth of 30.45 metres


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## jonojpsg (20 October 2010)

Thought I'd bump this one for people's attention 

Have had a lovely run up (30c-90c) over the past two months with good results from their Kastelanik lease in Turkey, epithermal gold looking a little Andean-ish although not quite in that league!  Still there are a number of veins that are providing some handy intersections and it will be interesting to see what their JORC comes out as early next year.

MC of $100m at current SP and fairly tightly held so will be interesting to see if it can maintain gains.


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## MR CUBE (22 April 2011)

jonojpsg said:


> Thought I'd bump this one for people's attention
> 
> Have had a lovely run up (30c-90c) over the past two months with good results from their Kastelanik lease in Turkey, epithermal gold looking a little Andean-ish although not quite in that league!  Still there are a number of veins that are providing some handy intersections and it will be interesting to see what their JORC comes out as early next year.
> 
> MC of $100m at current SP and fairly tightly held so will be interesting to see if it can maintain gains.





Interesting day yesterday, good volume and held 80c. This is set up nicely for a run back to $1.00.


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## jonojpsg (24 April 2011)

Hmm, obviously dropped back a fair way as NO mention of JORC resource anytime soon??  Was expecting 1st half of this year but no mention of it in any quarterly or drilling ann for a while so no idea of when they now aim to release one??


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## Acmena (27 October 2011)

Hi All

First time user of this forum so not sure where I disclose that I've owned CHZ stock for several years but there you go- disclosed! Check out todays Board Room Radio and yesterdays announcement. Sounds very promising. Roll on 2012.


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## springhill (2 July 2012)

CHZ, exploring for gold in Turkey. Worth investigating further.

Latest drill results just released.
http://www.asx.com.au/asxpdf/20120629/pdf/4273qxkbqjssmj.pdf

DRILLING CONTINUES TO EXTEND GOLD MINERALISATION OUTSIDE THE RESOURCE AT KESTANELIK
Highlights
o 41.1 metres at 7.2 g/t gold including 9.2 metres at 29.1 g/t gold
o 15.6 metres at 16.2 g/t gold including 4.0 metres at 59.5 g/t gold
o 5.6 metres at 14.9 g/t gold including 1.8 metres at 41.5 g/t gold
o 13.8 metres at 2.6 g/t gold including 2.1 metres at 9.3 g/t gold
o 5.3 metres at 6.4 g/t gold including 1.5 metres at 19.9 g/t gold
o 4.2 metres at 4.4 g/t gold
o 2.5 metres at 5.3 g/t gold including 1.3 metres at 8.3 g/t gold
o 3.0 metres at 7.3 g/t gold including 1.0 metre at 9.8 g/t gold
• Approximately 26,000 metres of the planned current 30,000 metre drilling program has now been completed, with results released to date from 23,500 metres.
• The current program is projected to continue until the end of July, with regular release of results to continue



Just completed a successful cap raising. 
http://www.asx.com.au/asxpdf/20120614/pdf/426tj8hlzp364v.pdf

Chesser Resources Limited (ASX: CHZ) (“Chesser” or the “Company”) has successfully completed the recently announced A$8 million equity capital raising through a placement of ordinary shares in the Company to sophisticated and institutional investors at A$0.335 per share (the “Offer”).
The Offer enjoyed strong demand from existing shareholders and new investors.
Settlement of the approximately A$6.5m unconditional placement component of the Offer is scheduled for Tuesday, 19 June 2012. The conditional placement component of the Offer, of approximately A$1.5 million, is subject to Chesser shareholder approval which will be sought at a General Meeting expected to take place on Tuesday, 31 July 2012.
• The Metals and Energy Capital Division of Macquarie Bank Limited has committed to subscribe for A$4 million at the offer price


• Drill Programs – 2012/2013
– Current drill program expected to complete in July 2012
– New 15,000 metres drill program with 4 drill rigs to take place over late 2012 and 1H 2013
– New drill program is anticipated to lead to a resource update based on an additional 33,000m meters of drilling  post the maiden resource
• Updated resource expected in mid 2013
– Subject to the successful completion of the drill programs
– This resource will be included in the planned scoping study
• Scoping study – 2H CY2013
– Scoping Study on Kestanelik Project is expected to commence in mid 2013 and complete later in 2013
– Chesser will continue to assess metallurgy and compilation of information relevant to project economics ahead of scoping study in 2013
– Scoping study results will be assessed and decision made on project development timeline to prefeasibility
and permitting
• Permitting process – Late 2013 / 2014
– Subject to successful completion of the scoping study, Chesser will begin permitting process and submittal of project description



Gold exploration in Turkey
– Flagship property is Kestanelik – NW Turkey
– Now vested 100% (subject to 2.5% NSR)
– Epithermal vein project
– High grade, wide veins, top of gold zone, big system, open at depth
– JORC Inferred 5.9mT @ 2.4 g/t gold for 462,000 oz – likely to be open‐pittable
– 90% untested, 5100m to go in current program

Also has Sisorta Karaayi and Catak up its sleeve


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## burglar (2 July 2012)

Another goldie in deep downtrend!


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## Chasero (2 July 2012)

burglar said:


> Another goldie in deep downtrend!
> 
> View attachment 47724




I could be wrong, but I remember JORC resource was HIGHLY anticipated in first half year 2012 for CHZ.

Well, it rolled around and no JORC?

CHZ have also been spruiked by one of the newsletters.. small caps something or other that e-trade investors got for free... (It was trading at around 60c then)


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## burglar (2 July 2012)

Chasero said:


> I could be wrong, but I remember JORC resource was HIGHLY anticipated in first half year 2012 for CHZ.
> 
> Well, it rolled around and no JORC?
> 
> CHZ have also been spruiked by one of the newsletters.. small caps something or other that e-trade investors got for free... (It was trading at around 60c then)




Is this a hard working, but slightly overpromised, board that just cannot quite clear all the hurdles?

Or are they perennial hole drillers, sat around an (ornate) oval table sipping Shiraz?

And how do we tell the difference?


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## springhill (22 July 2012)

MD's presentation for CHZ.
http://www.asx.com.au/asxpdf/20120720/pdf/427hm2g37v5hb5.pdf


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## springhill (25 July 2012)

*DRILLING EXTENDS THE K1 AND KARAKOVAN VEINS AT KESTANELIK*


Highlights
o 8.9 metres at 7.2 g/t gold including 3.7 metres at 15.8 g/t gold - this intercept significantly extends the Karakovan 1 vein along strike to the southwest;
o 17.4 metres at 3.8 g/t gold including 3.8 metres at 15.6 g/t gold - this intercept is down dip from the K1 vein resource envelope;

Other significant new intercepts include:
o 11.4 metres at 7.01 g/t gold including 2.6 metres at 28.05 g/t gold;
o 16.2 metres at 3.4 g/t gold including 4.3 metres at 10.8 g/t gold;
o 7.4 metres at 3.62 g/t gold including 2.1 metres at 7.95 g/t gold;
o 2.7 metres at 5.02 g/t gold.

• Approximately 28,400 metres of the planned current 30,000 metre drilling program has now been completed, with results released to date from 25,500 metres;
• Drilling now focused on extensions to the K2 and KS vein systems;
• Drilling is projected to continue until late August, with regular release of results to continue;
• A follow-up 15,000 metre drilling program is scheduled to restart in early October 2012.


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## springhill (23 August 2012)

CHZ making a nice breakout on average volume today.


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## springhill (24 August 2012)

One of my Low Cap Low Liquidity updates has been moving nicely lately. Up 33% since I started covering it.
Announcement out today.

KESTANELIK DRILLING UPDATE
NEW VEIN DISCOVERIES RETURN EXCELLENT HIGH GRADE RESULTS 1.5 METRES AT 41.4 g/t GOLD AND 5.3 METRES AT 16.8 g/t GOLD
Highlights
Discovery of two new veins located between the K2 and K1 veins: o KA vein:
● 1.5 metres at 41.4 g/t gold - drill assay result; o KM vein:
● 5.3 metres at 16.8 g/t gold from surface - rock-saw sampling, and
● 8.4 metres at 3.6 g/t gold from surface - drill assay result;
o Combined 500m strike length of new potential high-grade veining.
Further significant high grade intercepts outside the JORC mineral resource include: o K2 vein - 8.3 metres at 12.1 g/t gold including 5.3 metres at 18.3 g/t gold ;
o K3 vein - 15.4 metres at 6.2 g/t gold including 4.9 metres at 17.2 g/t gold ;
Other significant new intercepts within the JORC mineral resource include:
o 36.0 metres at 5.2 g/t gold including 14.2 metres at 10.2 g/t gold;
o 14.3 metres at 5.7 g/t gold including 6.4 metres at 11.7 g/t gold;
o Both are wider and higher grade than the modelled resource at their locations
• The final two drillholes are nearing completion on the current drilling program, with results released to date for 27,650 metres;
• A follow-up 15,000 metre drilling program is scheduled to restart in early October 2012, with four drilling rigs;
• Regular release of results expected to continue through Q2 2012 and into 1H 2013.


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## springhill (18 September 2012)

*EXCELLENT DRILLING RESULTS CONTINUE TO EXPAND GOLD MINERALISATION AT KESTANELIK*

Significant high grade intercepts outside the JORC mineral resource include:
K2 Vein:
o 23.5 metres at 9.6 g/t gold (from 23 metres) including 3.9 metre at 25.3 g/t gold
o 46.9 metres at 4.6 g/t gold (from surface) including 6.0 metres at 14.2 g/t gold
o 26.5 metres at 2.9 g/t gold (from 2 metres) including 4.2 metres at 10.3 g/t gold
o 5.8 metres at 6.1 g/t gold (from 32 metres) including 1.0 metre at 29.1 g/t gold
K3 Vein:
o 5.7 metres at 4.6 g/t gold including 0.9 metres at 21.1 g/t gold

Significant new intercepts within resource envelope include:
KM Vein:
o 3.1 metres at 13.0 g/t gold (from surface) including 1.0 metre at 33.0 g/t gold
o 14 metres at 1.7 g/t gold including 1.0 metre at 6.7 g/t gold
o 13.9 metres at 1.8 g/t gold including 0.9 metre at 7.2 g/t gold

• The company has now completed 30,300 metres of drilling in the current program, with results released to date from 28,750 metres.
• A follow-up 15,000 metre drilling program is scheduled to start in early October 2012, with four drilling rigs;
• Regular release of results expected to continue through Q2 2012 and into 1H 2013.


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## Padowan (30 July 2020)

New decent gold drill results from African project announced by CHZ 28 July 2020
Drilling intersected exceptionally thick, shallow, high-grade oxidised mineralisation across a 200m wide zone in five adjacent holes: • 48m at 6.70 g/t gold from 24m, including • 10m at 25.14 g/t gold from 62m • 55m at 4.27 g/t gold from 16m • 38m at 4.63 g/t gold from 8m, including • 18m at 7.04 g/t gold from 28m, including • 4m at 18.30 g/t gold from 30m • 36m at 2.93 g/t gold from 6m, including • 10m at 6.13 g/t gold from 16m • 34m at 1.91 g/t gold from 16m


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## Padowan (30 July 2020)

I’m going to follow this one as the recent drill results looked solid and the recent capital raising should provide enough funds hopefully to generate more drilling results even though it is wet season in Senegal. Mark Connelly recently appointed as chair enjoyed success at Papillon will be watching to see whether he can do the same at CHZ. A key risk for me with such a junior is if they look to do a big opportunistic raising whilst price has jumped


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## The Triangle (10 July 2021)

Padowan said:


> I’m going to follow this one as the recent drill results looked solid and the recent capital raising should provide enough funds hopefully to generate more drilling results even though it is wet season in Senegal. Mark Connelly recently appointed as chair enjoyed success at Papillon will be watching to see whether he can do the same at CHZ. A key risk for me with such a junior is if they look to do a big opportunistic raising whilst price has jumped



Well, a placement at 21 cents was pretty darn good.

They should have enough cash and drilling completed to get a resource out before going back to the market for more $$$.  Looks very close to surface and hopefully grades should be good enough to make it a sell off/takeover target to one of the larger players in the area.   Though nothing spectacular has come through on recent results.


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## The Triangle (16 November 2021)

They finally put out their resource today.    Nothing amazing - but good strip ratio, and good grade (with a higher cutoff).   Looks like a drill campaign to start in January to increase the total ounces. 

If they went with a 0.8g/t cutoff and a 3:1 strip ratio I'm confident that they would have the ASIC down to well under $1000 AUD/oz.  

Say $6/t mining cost x 4 tonnes to produce 1 tonne of ore = $24/tonne cost. 
Call it $50/tonne including processing 
2g/t is worth about $150/tonne
~ $100 per ore tonne of cashflow to pay corporate costs, tax, more exploration, capex etc.
That's about a billion in cashflow.  Not bad for a 70 million market cap.
Obviously the market was unimpressed.  SP did nothing today other than an initial jump up.   People only interested in million ounce+ deposits and few understand the importance of strip ratios!


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## mullokintyre (22 December 2021)

Seems not too many interested in this one.
I picked some up at 0.11 over a few days.
As the three sided one said,  they could be a very low cost producer.
More drilling results out today sowing their initial deposit is open along the strike in both directions and at depth.
Happy to put something into these West Afrocan miners  for a medium return.
Mick


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## The Triangle (22 December 2021)

mullokintyre said:


> Seems not too many interested in this one.
> I picked some up at 0.11 over a few days.
> As the three sided one said,  they could be a very low cost producer.
> More drilling results out today sowing their initial deposit is open along the strike in both directions and at depth.
> ...



Well that's disappointing to hear.  Preferred to be on this unloved island by myself!

Thought the 10c mark would fall today based on the last few weeks of trading and I may have been able to get more at a lower price - but then they had to go and announce more gold.  Also looking forward to scoping study, which is a polite way of saying back of the envelope in house calculation - as mentioned before, a low strip and what could be a high grade surface open pit is going to be very profitable.

_A scoping study has commenced over Area A and Area D at Diamba Sud post the release of the maiden Mineral Resource Estimate. The aim of the study is to demonstrate the expected robust economics of the current resource base._

I like the cut-off grades here because even if gold drops 100, 200, 300 dollars an ounce, they could lift the grade easily without a dramatic drop in the resource.  So many mines it seems are stuck around that 1.5g/t mark no matter what they do.  Would not be surprised if they can pull a 350 million+ NPV out of their hat using reasonable numbers.


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## mullokintyre (24 January 2022)

Che  shucked out some more drilling results with reasonable  concentrations of gold.
Few high garde areas and some only so so ones for an everage of 3.0 gmt at a 1.5 cutoff to give a total resource of 493 oz.
Not a big deposit, so they need to expand this area significantly via more drilling to get someone to take notice.


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## The Triangle (27 January 2022)

mullokintyre said:


> Che  shucked out some more drilling results with reasonable  concentrations of gold.
> Few high garde areas and some only so so ones for an everage of 3.0 gmt at a 1.5 cutoff to give a total resource of 493 oz.
> Not a big deposit, so they need to expand this area significantly via more drilling to get someone to take notice.



Was happy to see they still have well over $5 million in the bank.  The admin costs are tiny.  Maybe $130k/month - which is on par with some of the garbage juniors here with absolutely nothing.  They have started drilling again so we should see some results come back, but I don't think anything will significantly move this until their scoping study comes out or until they update the resource.   I've said it before many times that many resource investors don't grasp the economics of strip ratios with open cut projects.


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## mullokintyre (25 February 2022)

Announced today they hve been granted licenses over a larger area adjacent to the Diamba Sud holdings.
Drilling underway to see if there is anything exciting within it.
Mick


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## The Triangle (15 March 2022)

Not a bad scoping study:

AISC  $820 USD/oz
IRR 59%
NPV $300 USD
Capex $182m USD
$1800 USD/ Oz assumption
1.25 years payback from production

That's all for 700oz and 45 million EV. 
Anything added in drilling I think should add to mine life and NPV with minimal impact on Capex estimates.


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## mullokintyre (15 March 2022)

The Triangle said:


> Not a bad scoping study:
> 
> AISC  $820 USD/oz
> IRR 59%
> ...



Yeah, its a bit of gamble to hope that the further drilling expands the resource, but searching for gold has always been like that.
Happy with  what they have firmed up, at the price I paid, its good value. 
Any firther good drilling results is icing on the cake.
And I love cake.
Mick


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## The Triangle (18 March 2022)

mullokintyre said:


> Yeah, its a bit of gamble to hope that the further drilling expands the resource, but searching for gold has always been like that.
> Happy with  what they have firmed up, at the price I paid, its good value.
> Any firther good drilling results is icing on the cake.
> And I love cake.
> Mick



I think they are very confident in adding additional ounces otherwise why drill new areas right now?  Another few 100koz is not unreasonable and tacked on to years 8-9-10 would probably jump the NPV by at least $50 to $100 million USD.   But I'd be happy with this study even if I was told there was zero chance for any upside.

After a little more reading I thought either CHZ have dramatically overestimated their costs or TIE have dramatically underestimated theirs.  CHZ with a startup of $182m USD  TIE with a startup of $200m USD - Yet setup to handle double the tonnes per annum.  CHZs scoping study probably has more details than most ASX listed Feasibility studies (I'm not suggesting they are accurate, but its good to see all the numbers and assumptions they use)  I go through a lot of these studies and CHZ looks to me to be going for the under promise over deliver theory.  Which is very different to the recent over promise and pump - capital raise - over promise and pump even more - capital raise - under deliver - but that's ok, we raised so much we'll be ok theory. 

_The Scoping Study results clearly demonstrate the very significant potential value from a future mine development at Diamba Sud. Importantly the study does not include any potential Mineral Resources from the new discovery at Area H (Karakara) or any further resource additions that might result from the current 15,000m to 20,000m drilling program all of which would further enhance the value of the Diamba Sud Project_


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## mullokintyre (25 March 2022)

Someone must be reading your posts triangle.
Up 13% this morning.
Want to see it stay above that 13 level from january.
Mick


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## mullokintyre (29 March 2022)

The Triangle said:


> Well, a placement at 21 cents was pretty darn good.
> 
> They should have enough cash and drilling completed to get a resource out before going back to the market for more $$$.  Looks very close to surface and hopefully grades should be good enough to make it a sell off/takeover target to one of the larger players in the area.   Though nothing spectacular has come through on recent results.



Well, they are back to the market for more $.With the current Sp around 13cents, , which still leaves those who bought at last CR  at 21 taking a bath.
I suspect that this cR will have to be pretty well below current SP to get  the kids to stump up more cash.
expect it see this one significantly lower after it opens after CR.
mick


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## The Triangle (30 March 2022)

mullokintyre said:


> Well, they are back to the market for more $.With the current Sp around 13cents, , which still leaves those who bought at last CR  at 21 taking a bath.
> I suspect that this cR will have to be pretty well below current SP to get  the kids to stump up more cash.
> expect it see this one significantly lower after it opens after CR.
> mick



Sounds like its 10.5 cents.   Not surprising the capital raise came, but it is disappointing to see the level at which it was done.  

CHZ still sitting at a reasonably good value relative to other African juniors (EV:NPV, Margins, EV:OZ).  If I recall most of the management options sit around a trigger of about 20 cents and they have 12-18+ months to get there.  I'm still hopeful of a good return over a long period, but I'm less optimistic that this will be a "multi-bagger" as CHZ have not gone very well at self promotion.  

Interested to see if this will be an open raise or a sophisticated placement.   I agree if it's Taylors - what are they saying to their clients who paid 21 cents last year in the previous raising?  I'd be pretty pissed.  Euroz must be involved too as they've put out the most recent research note?


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## mullokintyre (31 March 2022)

10.5 it is.
Euroz and Taylor as joint lead managers,  i guess taylors have gone to some "other" sophisticated  and insto clients.
My first  purchase was at 12, the latest purchase was at 10.5, so in some ways I am not out of the money, but was sitting on some nice profits when it was 13.
Looks like  a bit of a waiting game.
Maybe it might get taken out by one of the larger neighbours.
Mick


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## mullokintyre (31 March 2022)

I have gone all out and entered CHZ as my stock pick for the April competition,
Expect it to zoom back up to 15 cents at least.
Have no other valid reason to pick it.
Mick


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## mullokintyre (7 June 2022)

After the takeout of OKU, I am betting that CHZ will eventually go the same way.
Its proximity to the B2G holdings, plus its recent announcements about "very significant gold results' (albeit from rock chip samples),  puts them in the spotlight.
Will buy on any weakness below 11.
Mick


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## mullokintyre (4 July 2022)

More good shallow drill results out.
makes it a bit more attractive to the bigger neighbours.
mRE expected in 2nd half of 2022 should be interesting.
mick


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## mullokintyre (28 July 2022)

CHZ still putting out decent drill results.
Karaka at 200 meters is open at strike length and depth. 
Wonder just how big they make it look before they issue the MRE , which given the level of increased drilling, may not be out till more assays are completed.
Hoping this one goes the same as Oklo.
Mick


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## The Triangle (23 August 2022)

mullokintyre said:


> CHZ still putting out decent drill results.
> Karaka at 200 meters is open at strike length and depth.
> Wonder just how big they make it look before they issue the MRE , which given the level of increased drilling, may not be out till more assays are completed.
> Hoping this one goes the same as Oklo.
> Mick



Tucked away in the recent announcement was the fact that "Definitive Feasibility Studies (“DFS”) have commenced"  and re-reading the most recent presentation I noted they mention decision to mine by mid 2024...  It doesn't take 2 years to get a feasibility study finished - especially considering this is going to be a reasonably simple open pit operation - I just don't understand why they wouldn't have a final investment decision by mid 2023 if not early 2023.

I dug around and found the info on options, Looks like 5 hurdles.  Pretty sure the first one has been met, the second one surely will be met with the next resource estimate (as they were already sitting on 692,000 oz @2g/t) - I presume they get to play with whatever cutoff grade they want to achieve their bonus - the third one is probably going to require a lot more drilling, but it's a chance it's also reached with the new update.   The 4th set of options seem like a done deal.  Although I don't know what a 'positive' DFS is???  I'm guessing it means start mining.  The fifth set of options look partly achievable.


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## mullokintyre (12 December 2022)

Updated scoping study released to include the results of the October mineral updates.




Being conservative with their figures, using $1600 an ounce , so would think that these figures should be significantly better than that.
Maybe it will now go the way of Oklo.
Mick


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## The Triangle (Thursday at 6:34 PM)

This is from the September quarter...  So - assuming the same trend - CHZ would be sitting on 1.70 quarters of cash left, which means they need to answer 8.8.1 & 8.8.2 in the December quarterly which I further assume to be "Yes" and "Yes, a capital raising" I don't think anyone made a cent off the last capital raising March last year for $12 million at $0.105 (I'll note in the Dec '21 report they had 2.7 quarters left)

The numbers are looking very good for the scoping study - but maybe it needs to be a million ounces to get any attention - unfortunately, if the market is not interested then the market is not interested.    Frustrating situation when _everyone _knows a company needs financing and a whole lot of dilution is about to happen.  

Suppose the question is at what price will the capital raising be?  8 cents?  Sophisticated investors only?


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## mullokintyre (Thursday at 6:52 PM)

The Triangle said:


> Suppose the question is at what price will the capital raising be?  8 cents?  Sophisticated investors only?



Well that cuts me out. Very unsophisticated am I.
Mick


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