CDT - Castle Minerals

[Lucky_Country]

Trading Halt pending drilling results !!!!

Wow I am so looking forward to these results I am not sure they have ever gone into a trading halt for their drilling results before so I think it maybe very very good news.

 

[Lucky_Country]

WOW What a ride this is becoming.

The recent drilling results were fantastic now the a closing in on the main target with more drilling.

AZM the neighbours seem to be very active I just wonder ?

 

[Sean K]

AZM the neighbours seem to be very active I just wonder ?

With hardly any confirmed resources, it's really going like a champ.

The AZM tie up has been bandied about. Initially it was because of shared directors, but that could have been a reason they did not join up. Now one of them has jumped, maybe it's on the cards.

Hopefully the drilling is good and they start developing a resource bank. At the moment it's just prospective.

 

[Althom]

The gold production will come from neaby toll milling is my understanding.

Only problem is there are no mills nearby so unless Azumah gets up Castle just have stranded assets

 

[aroe]

First post!

Been watching CDT for the past two weeks. They had a reasonably big announcement today, with the discovery of some big gold veinage, and also large amount of graphite, which they can comment on further next week - according to the BRR Radio release.

Currently priced at $0.27.. with a 0.01c gain today.

Are these guys on the way up? There is a surprisingly small lot of interest in this stock!

Cheers.

 

[springhill]

Some information on CDT for those interested.

Kambale Graphite Deposit ‐ North West Ghana
 Graphite first noted by Russian geologists in the 1960’s.
 Russians reported that the graphite is the fine flakey variety
 Drilling by Castle March 2012 intersected a number of wide graphite rich horizons
26m @ 10.4%C from 9m
48m @ 9.83%C from surface
22m @ 11.4%C from surface
27m @ 10.1%C from 9m
34m @11.29%C from 7m
 up to 50m true width graphite zones reported
 Only tested 1km out of >5km strike target horizon
 3000m RC program July 2012 reported:
KBAC 09 30m @ 9.12%C from 24m
KBAC 13 46m @ 8.09%C from surface
inc. 19m @ 10.56%C from surface
KBAC 35 9m @ 10.81%C from surface
KBAC 41 19m @ 10.74%C from 21m
KBAC 44 24m @ 8.46%C from 2m
inc. 10m @ 11.07%C from 5m
KBAC 46 26m @ 10.85%C from 30m
inc. 16m @ 12.25%C from 40m
KBAC 84 19m @ 9.56%C from 3m
KBRC 01 52m @ 7.60%C from 40m
inc. 30m @ 8.37%C from 40m
and 9m @ 10.46 %C from 52m


 Located in NW Ghana 8km from regional town of Wa (~50,000 people).
 Good infrastructure, water, power, sealed airstrip
 500km sealed road to Takoradi Port
 Potential to outline a world class graphite resource
 Metallurgical samples submitted to Perth laboratory (AMMTEC)
 Initial JORC resource for first 1km of strike of the western zone targeted for Q3 2012

There is a graphite peer review on page 20 of their latest presentation.

Wa Project (Castle Minerals 100%)
● Julie-Jang Trend 50km long trend that includes the Baayiri discovery
● Kandia Trend 30km corridor of anomalous gold in soils
● Wa South (Batie West trend) 60km long corridor on intersection of two greenstone belts
● Wa-Lawra Greenstone Belt 80km of untested greenstone belt stratigraphy

Latest results from Julie include.
 12JWRC237 8m @ 13.48 g/t gold from 17m
 12JWRC242 9m @ 3.01 g/t gold from 27m
 12JWRC243 17m @ 7.34 g/t gold from 21m
 12JWRC244 15m @ 7.95 g/t gold from 29m
 12JWRC245 15m @ 5.44 g/t gold from 34m
 The drilling followed up previous intercepts of 16m @ 14.7g/t gold from 44m (JWRC 220), 9m @ 22.1g/t gold (JWRC 128) and 5m @ 8.3g/t gold (JWRC 136) in this area and provides excellent potential for a zone of high grade gold mineralisation to be defined.

Maiden Kandia Gold Resource
 Mineral Resource estimate for the Kandia prospect totals 3.3mt @ 1.0g/t
gold for 107,500 ounces
 Resource outcrops at surface with 77% of resource ounces above 100m
 Mineralisation open down dip and new gold targets identified south
along strike
 Kandia Trend extends for at least 20km

Cash Position
At Quarter end Castle had total issued capital of 113.7M shares and 1.05 million options on issue. Cash reserves were $3.8 million.
Share Register
Azumah Resources Limited (ASX:AZM) increased in their Castle shareholding to 16.98% through the acquisition of an additional 2,581,947 Castle shares.

The structure is right, they have cash in the hole, haven't had time to look at the guys in charge yet, they are riding the bubble of the moment. You have selected well here aroe, hope it continues for you.
Good luck!

 

[springhill]

CDT announces June quarterly.
Only information above mentioned in previous post is Castle has received a share and cash offer for two of its gold exploration projects in Ghana from a private exploration company. The offers are being considered.

Cash reserves now at $3.4m

 

[aroe]

CDT announces June quarterly.
Only information above mentioned in previous post is Castle has received a share and cash offer for two of its gold exploration projects in Ghana from a private exploration company. The offers are being considered.

Cash reserves now at $3.4m

I only have a pretty tiny position, but this is a very exciting little stock.

I'm looking forward to see what will happen with these offers, but I'm unsure as to what it would mean to me if Castle were to sell them? Does their cash position just benefit and that's it?

Cheers.

 

[springhill]

I only have a pretty tiny position, but this is a very exciting little stock.

I'm looking forward to see what will happen with these offers, but I'm unsure as to what it would mean to me if Castle were to sell them? Does their cash position just benefit and that's it?

Cheers.

Yes cash position of company increases To you personally? Probably not alot. Unless they sell them for a bomb

Not sure how the market is factoring in cash positioning for small cap specs at the moment. I have an eye on one that has a cash position of $50m and a MC of $44m.
They are in the middle of a share buy back so they obviously see value in themselves.

 

[greggles]

CDT back from the dead!

On Wednesday morning Castle Minerals announced that it has secured the rights to acquire an 80% interest in two Exploration Licence Applications at Coolyia Creek, 40km South West of Marble Bar. Since then it has climbed from 1c to a high of 6c on solid volume. Price is currently 4.8c and holding up well.

This one's going on the watchlist.

 

[Dona Ferentes]

enough to give a 40% run along.. (to all of 1.7c)

Castle to Reappraise Kambale Graphite Project, Ghana

• Bulk sampling to provide material for test work will commence shortly
• Preliminary process flowsheet development and concentrate characterisation will assist identification of possible commercialisation options
• Reappraisal driven by firm prices and positive graphite market outlook
• Maiden Inferred Mineral Resource over 1.25km strike of 14.4Mt at 7.2% (graphitic carbon) for 1.03Mt contained graphite (JORC 2004)(Refer ASX release 24 July 2012)(1)
• Drilling subsequently extended mineralisation to 2km strike with fieldwork and geophysics indicating strong likelihood to extend
• Infill and step-out drilling to confirm existing Inferred Mineral Resource, to better understand graphite distribution and extend mineralisation is subject to results of test work and follow-on studies
• Kambale located 6km west of Upper West region’s capital, Wa, with grid power, water, good roads and commercial air services available
• Ghana is an established and safe mining jurisdiction with a highly skilled workforce, a strong mining services sector and excellent infrastructure

 

[greggles]

CDT making some gains today with the buy side of the market depth looking strong.

They have a few applications currently processing for exploration licenses in the Earaheedy Basin. News regarding these applications could be announced at any time.

CDT market cap is under $9 million, so any good news could send the share price north. This one could be of interest to gold bugs looking for small cap explorers with potential.

 

[greggles]

CDT on the move today. Currently up 38.46 to 1.8c. Volume is up substantially.

It looks like the Rumble Resources/Earaheedy Basin effect is finally having an impact. Market cap is only ~$11 million.

 

[greggles]

After finishing back where it started yesterday I was convinced that CDT's momentum had stalled and that there were just too many sellers for it to get through 1.8c. But it's back at it again today and looks like it's going to have a fourth crack at the 1.8c mark in the last two months.

If it does get through 1.8c, I think we'll be above 2c very rapidly. One to watch for a quick trade when supply starts to thin out.

 

[greggles]

Back at 1.8c today and volume is picking up in the last hour. Around 11 million shares was line wiped in one hit. With only a few trading days left this month I'm hopeful that CDT might be able to make a last minute run from here.

Someone wants in pretty badly at the moment and I'm hoping there's an announcement coming up that justifies the recent CDT price action.

 

[Sean K]

I owned some of this when it was trying to find yellow metal in Ghana or somewhere like that.

Then they went graphite by the look. Now what? Zinc? A bit schizophrenic.

Why is 0.018 such a hurdle??

 

[greggles]

I owned some of this when it was trying to find yellow metal in Ghana or somewhere like that.

Then they went graphite by the look. Now what? Zinc? A bit schizophrenic.

Why is 0.018 such a hurdle??

They've got graphite interests in Ghana that they're re-evaluating but short term they have applied for five exploration licenses in the Earaheedy Basin (a combined 863km2), some of which borders Rumble Resources' ground in the area.

Not sure why 1.8c is proving to be such strong resistance but if the news is good regarding those exploration license applications I suspect that 1.8c won't be a problem any more. CDT seems to be building up momentum and I think there's a good chance of a run above 2c in the short term.

 

[Sean K]

They've got graphite interests in Ghana that they're re-evaluating but short term they have applied for five exploration licenses in the Earaheedy Basin (a combined 863km2), some of which borders Rumble Resources' ground in the area.

Not sure why 1.8c is proving to be such strong resistance but if the news is good regarding those exploration license applications I suspect that 1.8c won't be a problem any more. CDT seems to be building up momentum and I think there's a good chance of a run above 2c in the short term.

Maybe 0.018 is cracked! Good old fashion nearology run.

 

[greggles]

Maybe 0.018 is cracked! Good old fashion nearology run.

Even at 2.1c its market cap is around $13 million. Plenty of room to move. It's also got the Beasley Creek gold project in the Pilbara. Lots of opportunities for a much bigger market cap if some good news comes through.

 

[greggles]

Here's a quick overview of CDT's current projects.