CDT - Castle Minerals

[Sean K]

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.

Failed at .018 and back to .016...

Maybe the catalyst for a bit of a run and holding up will be the granting of the Earaheedy licences. No idea how long they take to get processed or what red tape would be in the way of getting it accepted.

Chinook and Magazine seem to be in the light blue area called the Sweetwaters Well Dolomite. I wonder if that's a problem for the nearology factor. Surely need to be in the same type of dirt...

 

[greggles]

Failed at .018 and back to .016...

Maybe the catalyst for a bit of a run and holding up will be the granting of the Earaheedy licences. No idea how long they take to get processed or what red tape would be in the way of getting it accepted.

I think you're right. Something needs to act as a catalytst to propel the CDT share price north. The buying that drove it up to 2.2c seems to have been someone taking a large position as there was no news announced during this time. The buying seemed too coordinated to be random retail punters. That buying finished and profit takers moved in. It is worth noting that volume has dropped right off.

CDT will need a catalyst to get it back over 2c. The granting of the Earaheedy licenses will be one. I have no idea about processing times for such applications but assume that they take some time to be approved.

CDT back in a holding pattern for now.

 

[greggles]

Castle eyes drilling of first Meekatharra gold target

ASX-listed junior explorer, Castle Minerals has now pinpointed a maiden gold drill target at its Polelle project immediately east of WA’s Meekatharra gold mining district after completing soil sampling work that infilled previous wide-spaced auger sampling. The company is also approaching drill-ready status on base metals anomalies at the property.

Perth-based Castle says the recent infill program comprising 827 soil samples led to the definition of an 800m-long gold anomaly associated with the northern end of an interpreted splay structure running sub-parallel to the Albury Heath shear zone.

The shear zone takes in Westgold Resources’ Albury Heath gold deposit that hosts an inferred resource of 528,000 tonnes grading an average 2.09 grams per tonne for 35,479 ounces, adjacent to the eastern boundary of Castle’s Polelle tenements.

Castle’s previous auger sampling along the splay structure pointed to coherent gold anomalies extending north-south for 2km.

Castle eyes drilling of first Meekatharra gold target

Castle Minerals has pinpointed a maiden gold drill target and is also approaching drill-ready status on base metals anomalies at its Polelle project immediately east of WA’s Meekatharra gold mining district after completing soil sampling work that infilled previous wide-spaced auger sampling.

thewest.com.au

 

[Sean K]

I think you're right. Something needs to act as a catalytst to propel the CDT share price north.

Maybe this will greggles?

 

[greggles]

Maybe this will greggles?

It's a good start, but there are still too many sellers keeping the price down. The Earaheedy applications need to be approved and then they need to get out there in the field and start exploring. Market depth this morning doesn't look too exciting but you never know how the day will play out.

Fortunately CDT have other projects in development as well, so hopefully management can keep the positive news flow coming.

 

[Sean K]

So, they've been granted the two extra ELs in the Rumble region - or 'margins of', the basin. Looks a long way away to me. Can it still be called nearology way down there?

The team are going on a camping trip to check them out too. It's good they're orientating themselves to the ground - after getting the EL. They seemed to have plucked this area based on GSWA regional aeromagnetic data.

Importantly, GSWA regional aeromagnetic data indicates a series of north-south and subsidiary northwest trending structures traversing the Tableland areas. These structures appear to be deepseated and traceable through both the Archean and Paleoproterozoic terranes and may have created a viable framework for the migration of mineralised brines and hydrothermal fluids during early basin formation.

Castle is reviewing, digitising and reprocessing open-file geological and geophysical information for the Tableland area as a prelude to an initial reconnaissance exploration program which will be undertaken in conjunction with work planned for the Withnell and Terra Rossa areas.

Management this week will be undertaking a field orientation mission to the broader Earaheedy Basin which will include checking of historical drill holes, examining areas of known base metal anomalism and reconnaissance sampling.

 

[greggles]

It's a long way from Rumble Resources and their other ELs, but you never know where the mineralisation is until you start drilling. The problem is, drilling isn't cheap so you want to make sure you're drilling in the right places.

Still, it's very early days and I reckon they have a better chance at the Withnell and Terra Rossa project areas. I don't think today's announcment will even move the needle on the share price. They will need something more substantial for that.

 

[greggles]

CDT creeping up again, just hit 1.6c. Holders seem reluctant to part with their stock (no dumping) and punters are getting on board in the hope that something comes of either:

1. CDT's Earaheedy Basin ELs
2. Kambale Graphite Test Work results

Buy side getting heavy with bids and sell side thinning out.

 

[greggles]

CDT getting into lithium. The company has applied for an exploration licence, Wilgee Springs (ELA 70/5880), along strike from and within the same metamorphic belt as the World-Class Greenbushes lithium mine.

Another pie for CDT to get its fingers into. The ground looks very prospective with lots of lithium activity in the area. The Greenbushes lithium mine supplies 21% of global lithium from a mineral resource of 178.5Mt at 2.0% Li2O.

Share price heading north this morning following the announcement, currently trading at 1.5c with a high of 1.6c.

 

[greggles]

Lots of volume this month and an undeniable uptrend forming. News is expected soon about the Earaheedy tenement applications, drilling at the Polelle Gold Project and drilling at the Kambale Graphite Deposit in Ghana.

 

[greggles]

CDT has finally broken through resistance at 2c, and has done so convincingly. It has hit a high of 2.3c and this is where it continues to trade with a very healthy looking buy side of the market depth.

I expect that we will see some consolidation above 2c until the next price sensitive announcement is released. My view is that 2c will now become support and we will see further gains in the months ahead as positive news continues to flow through. Market cap still only $16.3 million.

 

[Sean K]

CDT has finally broken through resistance at 2c, and has done so convincingly. It has hit a high of 2.3c and this is where it continues to trade with a very healthy looking buy side of the market depth.

I expect that we will see some consolidation above 2c until the next price sensitive announcement is released. My view is that 2c will now become support and we will see further gains in the months ahead as positive news continues to flow through. Market cap still only $16.3 million.

Do you smell a ? greggles? No leaky ?️ ??

 

[greggles]

Do you smell a ? greggles? No leaky ?️ ??

View attachment 132451

I definitely smell something. Today's price action was not a mere coincidence. There most definitely could be a leak here and next week could bring some news that would explain what has happened today. At the moment, I just don't know what is going on but I suspect CDT is on the cusp of being re-rated.

November should be a very interesting month for CDT at the very least.

Just did some digging and discovered the following: https://minedex.dmirs.wa.gov.au/Web/tenements/details/E 6903860

Looks like CDT have been granted the Withnell Project tenement, adjacent to RTR's Chinook-Magazine zinc-lead discovery.

 

[Sean K]

I definitely smell something. Today's price action was not a mere coincidence. There most definitely could be a leak here and next week could bring some news that would explain what has happened today. At the moment, I just don't know what is going on but I suspect CDT is on the cusp of being re-rated.

November should be a very interesting month for CDT at the very least.

Just did some digging and discovered the following: https://minedex.dmirs.wa.gov.au/Web/tenements/details/E 6903860

Looks like CDT have been granted the Withnell Project tenement, adjacent to RTR's Chinook-Magazine zinc-lead discovery.

Will be interesting to see what they say when they get a please explain and then come out with a material announcement... lol

 

[Sean K]

Please explain delivered and the response - stock forum chat regarding the chart... LOL

Another jump this am.

 

[greggles]

The recent price action after a long period of mostly sideways trading looks like CDT is being re-rated. The granting of the Withnell Project tenement, while a positive development, doesn't explain what has been going on, as the granting of the tenement was essentially a given. I don't think anyone thought it wouldn't be granted.

Something must be happening on the ground out there that is leaking out. I could be wrong, but the volume is telling me that the price action today and Friday is because of something other than the granting of a tenement.

 

[greggles]

Matt Birney Interviews Castle Minerals Managing Director Stephen Stone on 3AW & 2GB - 23 September 2021.

The interview is a month and a half old, but still contains a lot of interesting information.

 

[greggles]

CDT have acquired the Kendenup Graphite Project in south-west WA. This news should give the CDT share price a nice boost this morning.

 

[greggles]

I should have picked CDT in the January competition instead of GED. If only my crystal ball had been working properly over the weekend.

Huge rally this morning on the back of positive battery minerals sentiment in 2022. 2022 is going to be the year that battery storage goes bananas and CDT is right in the thick of it.

Sellers are backing away and buyers are working themselves into a frenzy. CDT currently up 18.97% to 3.45c this morning. No announcements today so I imagine there will be a speeding ticket incoming from the ASX, but today's price action is very clearly frenzied position taking and I think this bullish momentum will continue in the short term. It looks like a breakout is on the cards.

 

[greggles]

It looks like a breakout is on the cards.

Looks like a breakout now. News must be imminent.