# CMY - Capital Mining



## Ruprect (9 April 2007)

Good run on this stock last week after very positive announcement of a 240% resource upgrade. Hit high of 70 cents on Wednesday pulled back on Thursday. Good review in mining news as well as The Australian last week. Had another positive story today in the Australian. Might be worth another look tomorrow doesnt look like much selling pressure and the good press will probably create some interest. 

CAPITAL Mining sure picked the wrong place if it wanted the investment world to hear all about its plans.
How one in Canberra can hear anything above the din emitted from Parliament House is a matter not for debate. But the recently listed explorer made just enough noise last week for it to become one of the favourites among the multitude of mining stocks on the share market. 
On Tuesday, Capital Mining upgraded its Chakola resource by 240 per cent from 88,000 ounces of gold equivalent to 300,000 to a depth of 70m. 

Chakola is Capital's stand-out asset among its base metal and rare earth tenements and sits about 15km north of Cooma in a central position on the Lachlan Fold Belt. That formation plays host to Newcrest's Cadia-Ridgeway projects and Rio Tinto's Northparkes copper play. 

Capital had been working the largely unexplored ground there for six years before deciding to go public and raise $3.4million in a March listing. 

Chairman Richard Hine picked up the ground in 1997. Capital managing director Rob McCauley said Chakola was a project that a junior miner dreamt of: small scale and with a low risk/reward ratio. 

"We are getting 80 to 90 per cent recovery rates," Mr McCauley said. "In a couple of years from now, the market will be trying to sort out the explorers from the producers and I would like to think we would be in the latter category." 

Of the resource upgrade, 214,000 ounces of gold equivalent is in the measured and indicated categories under the JORC code. 

In its prospectus, Capital listed the Harnett resource as a JORC code compliant 1.1 million tonnes at a grade of 2.7 grams per tonne of gold for 35,000 ounces of gold and 6500 tonnes of copper. 

It said that the threefold lift in tonnage to 3 million tonnes was because of increase in mineralisation within its boundary and the addition of mineralised intersections from historic holes at Harnett South. 

The resource upgrade is near 400 per cent if the open-cut potential to 100m depth is included. 

"The information in the prospectus was the available data we had at the time, which was going back to October," Mr McCauley said. "We had to issue a supplementary prospectus because we went over the three-month threshold, which did flag we were working on upgrading the resource." 

But while the gold and copper hits were surprising enough, Capital adds that the mineralisation is open to the north and at depth for zinc. "I think, with us, you will find that we surprise on the upside," Mr McCauley said. "I would imagine that we would be able to get a lot of gold out on a gravity basis and there is the technology to liberate the zinc."


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## kromey (9 April 2007)

Equivalent be careful.


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## Ruprect (9 April 2007)

True - although I do note that they seem to have an increase of gold of at least 9000 ounces to mid 40'000s, as well as a boost in zinc of 14500 tonnes and copper of about 2000 tonnes. Plus the significant increase in silver and lead. I think by their release the resource upgrade is closer to 400% to a depth of 100metres. Current 240% upgrade is based on 70metres.

IMO its quite a good resource for a very small cap - 10million. They have good cash at hand from the listing, and are also looking at other exploration options.

One to watch first thing I think.


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## Ruprect (11 April 2007)

Came back yesterday, but most of the sellers appear to have dried up. Based on the announcement and highs of last week, might be a good buying opp in the 30's.


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## Ruprect (12 April 2007)

CMY powering along today, up 7cents to .44 - almost no resistance under .50


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## Robbo1970 (15 April 2007)

whats the go with capital and there uranium push? some talk around the traps that they might be about to make a play for something in central australia.

anything to this?


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## Sean K (15 April 2007)

Robbo1970 said:


> whats the go with capital and there uranium push? some talk around the traps that they might be about to make a play for something in central australia.
> 
> anything to this?



Who in central Aus Robbo? Sounds interesting. Can you please expand on your posting. Cheers!


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## Robbo1970 (15 April 2007)

sorry saw a ref on another site not as good as this though! that they might be about to announce a uranium venture. cant say if its true mite be talk but i checked there website again and front page says that they are poised to join the hunt for uranium in cent australia. http://www.capitalmining.com.au/

dont know how long thats been there for but i didnt see it b4. but the word poised sounds promising.


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## Ruprect (16 April 2007)

Well spotted Robbo. Im guessing that the fact that they say they are poised means an announcement cant be too far away. I suppose more telling is that they have identified the region, central australia which means it is highly probable they have actually identified the physical site.

If their major upgrade announcement is anything to go by, any announcement on uranium wont come after a halt, it will just be launched onto the market. Maybe Capital havent worked out the value of the suspense in a halt...


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## Ruprect (16 April 2007)

light trade but a nice start, up 4.5cents.


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## Robbo1970 (17 April 2007)

nothing on U announcment yet but they did have a more thourough explantion of there resource upgrade in NSW which was announced yesterday. early movement and good buy orders today mite be reflecting that.


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## Robbo1970 (9 May 2007)

this has been steadily rising on lite trade over the last few days. Up close to 10c in a week. anyone have any clues as to the rise? uranium venture to be announced....finally?


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## Ruprect (10 May 2007)

Havent heard anything although the 7 cent rise yesterday was nice. You are right, not a great deal of trade but it has been a steady increase over recent days. Id like to see their uranium deal completed, because the sell side is looking very thin. When they announced their upgrade to resource at Chakola, it rocketed very quickly. Id expect something similar when the uranium announcement comes.

Not sure how good the deal will be, but in this climate it doesnt seem to matter very much. Their chakola resource was enough to re rate the share, so thats enough in the interim IMO.The uranium will be a welcome bonus.


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## motion (25 September 2007)

Well some nice samples back got to be happy with 18g/t.... it seems gold is whats on peoples lips at the moment ...


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## Uranium (3 January 2008)

Anyone see the announcement. 
Anomalous gold, silver, tellurium, copper, lead and zinc values were recorded in strongly altered,
pyritic volcanics in all holes.
Gold values were found to increase with depth on two of the three lines drilled and best results were
obtained on the northernmost line leaving the prospect open at depth and to the north.

Dom


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## TheAbyss (14 May 2008)

This one could be a flyer. Rare minerals of interest to major US company.

3 things to look at

1. The chart
2. The press http://www.theaustralian.news.com.au/story/0,25197,23691714-15023,00.html
3. The market announcment

All hinges on what First solar find but worth a shot IMO and in as of this morning.


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## Bede (29 September 2010)

*Re: CMY - Capital Mining  heavy rare earth play*

CMY looks very interesting as a rare earth play now.  Very small market cap and a sound JORC compliant heavy rare earth deposit in NSW. This one is currently at a fraction of the price of other heavy rare earth plays that have are flying high on nothing more than rock chip samples. Chinese money is taking a very large stake... Watch this space.


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## wtang89 (5 October 2010)

Hiya Bede,

CMY came across on my radar recently, i took up a stake and assuming rare remains a hot item, it will only be a matter of time before this little miner takes off.


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## springhill (25 July 2012)

Share Purchase Agreement for Timbo IOCG Project in world-class CarajÃ¡s Mineral Province, Brazil
http://www.asx.com.au/asxpdf/20120724/pdf/427kfsvsh8rd0f.pdf


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## cthaffy (9 May 2015)

Just took a short look through the forums, and noticed that there is not much on here regarding CMY 
for the last few years.
Is anyone following their sudden change in direction to Medical Marijuana ?


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## Miner (10 May 2015)

cthaffy said:


> Just took a short look through the forums, and noticed that there is not much on here regarding CMY
> for the last few years.
> Is anyone following their sudden change in direction to Medical Marijuana ?



Welcome to ASF with your maiden post.
At the outset I do not know why CMY changed from mining to marijuana. There is no link excepting both start with M and mining industries officially do not allow their employees to be on Marijuana 
My only guess would be the company did not have conviction on its own. The vision of a mining resources did not have any synergy with acquisition of marijuana production. It is not located at Vancouver where medical marijuana is legal. If you see REY started with coal, failed and started with oil and gas now. REY is still in resource.
Sorry - no direct answer from me excepting with no clear direction, involving with marijuana gives a press exposure and helps the company winding up easily without making any shareholder commitment being highly speculative  to return on investment from shareholders. Once it was recommended by a money weekly


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## cthaffy (14 May 2015)

Miner said:


> Welcome to ASF with your maiden post.
> At the outset I do not know why CMY changed from mining to marijuana. There is no link excepting both start with M and mining industries officially do not allow their employees to be on Marijuana
> My only guess would be the company did not have conviction on its own. The vision of a mining resources did not have any synergy with acquisition of marijuana production. It is not located at Vancouver where medical marijuana is legal. If you see REY started with coal, failed and started with oil and gas now. REY is still in resource.
> Sorry - no direct answer from me excepting with no clear direction, involving with marijuana gives a press exposure and helps the company winding up easily without making any shareholder commitment being highly speculative  to return on investment from shareholders. Once it was recommended by a money weekly




Hi Miner, thank you for you kind welcome.
Please see:  http://www.smh.com.au/business/markets/canadas-broken-coast-cannabis-to-list-on-asx-20150309-13y62e

cheers
Chris


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## Miner (14 May 2015)

cthaffy said:


> Hi Miner, thank you for you kind welcome.
> Please see:  http://www.smh.com.au/business/markets/canadas-broken-coast-cannabis-to-list-on-asx-20150309-13y62e
> 
> cheers
> Chris




Hey Chris
Thanks for the link which I read with interest.
I could be called or seen cynical but it was hilarious that " Capital Mining chairman James Ellingford said he is optimistic that future legislative reforms will create opportunities for the business in Australia."
James Ellingford could not dig gold when all legislation exist for a gold miner and now he is hoping for digging drug without  a legislative support ? Reminds me that drug is dearer than gold and often law breakers could make more money than law makers. So it is not a bad strategy from CMY if I can say with tongue and cheek.
By the way, I have worked and lived in Vancouver Canada for two and half years. I believe medical Marijuana is legal there. But I did not see any thrist with common man for buying shares of those Marijuana makers . 
I hope CMY does well and lets see how the law makers see it.


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## cthaffy (16 May 2015)

Miner said:


> Hey Chris
> Thanks for the link which I read with interest.
> I could be called or seen cynical but it was hilarious that " Capital Mining chairman James Ellingford said he is optimistic that future legislative reforms will create opportunities for the business in Australia."
> James Ellingford could not dig gold when all legislation exist for a gold miner and now he is hoping for digging drug without  a legislative support ? Reminds me that drug is dearer than gold and often law breakers could make more money than law makers. So it is not a bad strategy from CMY if I can say with tongue and cheek.
> ...




Hi Miner. 
I lived and worked in Calgary for close to 30 years, and although medical marijuana was legal in Canada for the past number of years, it was about 2 years go that the Fed Govt really opened the gates on it. 

IMHO, I believe that CMY and crew, are looking to down the road of GWPH (NASDAQ), which I bought shares in whilst they were at $30 per share 

*Tasmania to green light cannabis farming, Capital Mining in deal for first licence*
http://www.afr.com/business/tasmani...ing-in-deal-for-first-licence-20150417-1mlllp

Tasmania is set to give the green light for Australia's first legal medical marijuana grower, in what is expected to be the start of a new industry for the state. Capital Mining, a failed explorer with a plan to transform itself as the second ASX-listed cannabis company, has struck a deal that puts it in line to be granted the first licence. 
Capital Mining will come out of a trading halt on Friday morning to announce it has struck a deal to pay $250,000 in cash and $100,000 in shares for Cannabinoid Extracts Australia, a subsidiary of ASX-listed Atlas Pearls and Perfumes. The venture has an application with the Tasmanian Department of Health and Human Services for a licence to grow medical-grade cannabis for the purpose of extracting cannabidiol (CBD), one of 85 active cannabinoids found in the plant. 
The company hired Piper Alderman partner Teresa Nicoletti, a 20-year veteran of the big pharma industry, to lead the process of gaining regulatory approvals for the new venture ahead of expectations of a policy change that will for the first time make it possible to apply for a production licence in Australia. 
Tasmanian Minister for Health Michael Ferguson told Fairfax Media that CBD is due to be classed as schedule 4 (prescription-only medicine) from June 1, 2015, and that there is currently only one application pending to grow and develop high-CBD hemp cultivars in the state. 
Unlike the better-known Tetrahydrocannabinol (THC), CBD has no psychotropic properties. Tasmania is collaborating with clinical trials under way in NSW to test the efficacy of the CBD-based treatments. Advocates tout it is as a potential treatment for conditions including epilepsy, multiple sclerosis and inflammatory diseases. 
The potential market is huge and Tasmania is ideally placed to be at the forefront of profiting from it, Ms Nicoletti said. 
"Tasmanian policymakers are behind the push, and the state's international reputation for being clean and green helps speak to quality assurance." 
ESTABLISHED HEMP, OPIUM PRODUCTION
Ms Nicoletti said Tasmania also had the advantage of having established material grade hemp and controlled pharmaceutical-grade opium production industries in the state, which meant there was a template for many of the new regulatory frameworks required. 
Mr Ferguson has echoed Tasmanian Premier Will Hodgman, speaking out in support of allowing the development of a medicinal cannabis industry in the state. 
"The reclassification of cannabidiol to a different schedule has taken place away from political considerations.  This serves as a reminder of the ongoing need for the science-based approach that drives the way we regulate medicines in order to benefit from scientific advances and to keep people safe. The Tasmanian government is committed to a collaborative approach to clinical trials with other states and territories," he said. 
The Cannabinoid Extracts Australia deal rounds out to three the roll-up of Cannabis company acquisitions that BBY executive director Adam Blumenthal has helped the Capital Mining board assemble.
Once regulatory approvals are granted, Cannabinoid Extracts Australia expects to plant a crop in the second half of 2015, with initial annual production forecast at about 1000 kilos. Internationally, CBD typically sells for between $US50,000 to $US70,000 ($65,000 to $92,000) a kilo. 
Capital Mining is expected to hold a shareholder meeting in about five weeks to take the new strategy and yet-to-be unveiled name change to a vote. 
Mr Blumenthal said the Capital Mining board was excited to be at the forefront of developing the domestic medicinal cannabis industry.


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## Miner (16 May 2015)

cthaffy said:


> Hi Miner.
> I lived and worked in Calgary for close to 30 years, and although medical marijuana was legal in Canada for the past number of years, it was about 2 years go that the Fed Govt really opened the gates on it.
> 
> IMHO, I believe that CMY and crew, are looking to down the road of GWPH (NASDAQ), which I bought shares in whilst they were at $30 per share
> ...



Hi Cthaffy/Chris

Great information and I was not checking the ASX site regularly either from  Madagascar.
Thanks for many heads up and your start on this thread means a great for ASF followers. I would be very keen to see your postings. Spending 30 years Calgary is a bloody rich experience to be shared in ASF.

I gather Tassie will be front runner now and great to know you preferred to get out of Calgary (presuming you would be full bottle on petroleum scrips  and alike too)

Looking into GWPH price - it has been constantly on rise and you got 300% price rise ($112) from March 2013. With that trend, I see CMY would be great for investment.
Thanks again.


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## cthaffy (16 May 2015)

Miner said:


> Hi Cthaffy/Chris
> 
> Great information and I was not checking the ASX site regularly either from  Madagascar.
> Thanks for many heads up and your start on this thread means a great for ASF followers. I would be very keen to see your postings. Spending 30 years Calgary is a bloody rich experience to be shared in ASF.
> ...




Also keeping a very close eye on IGS


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