ALR - Altair Minerals

[System]

Cohiba Minerals Limited (CHK) is listed on the Australian Securities Exchange, with the primary focus of investing in the resource sector through direct tenement acquisition, joint ventures, farm in arrangements and new project generation.

The Company has entered in to the Farm-in Agreement to acquire the exclusive right to earn an initial 50% interest in the mineral rights (other than iron ore) within two granted tenements in the Mid West region of Western Australia from West Peak Iron Limited through the sole-funding of $100,000 of exploration expenditure.

http://www.cohibaminerals.com.au

 

[Clansman]

A company named after a world class cigar.
Inventive and attention grabbing to say the least.

 

[springhill]

MC - $3.5m
SP - 19c
Shares - 18m
Options - 6.5m
Cash - $1.9m

THE SANTY WELL PROJECT
The Company has entered into a Farm-in Agreement to earn an initial 50% interest in the mineral rights (other than iron ore) within two granted tenements in the Mid West region of Western Australia (the Santy Well Project or Project) from West Peak Iron Limited (WPI), through the sole-funding of $100,000 of exploration expenditure.
The Santy Well Project is located about 440 kilometres north of Perth and about 60 kilometres north of the regional township of Mullewa and is considered to be prospective for precious and base metals mineralisation associated with the Tallering Greenstone sequence in the Mid West region of Western Australia. The Santy Well Project covers a portion of the northern limb of the east north east trending Tallering Greenstone Belt, which is about 100km long by 15km wide.

PROJECT EVALUATION AND APPRAISAL
Since listing, the Company has undertaken preliminary appraisals of a number of resource projects based in Australia and overseas with a view to making a value add acquisition. To date, none of the projects appraised have been advanced beyond this initial process however this is ongoing and the Company will keep the market informed of any developments in this regard.


CORPORATE
During the quarter, Mr David Herszberg and Mr Marc Spicer were appointed to the Board in non-executive capacities, with Mr Herszberg taking on the role of Chairman. Mr Matthew Sheldrick and Mr Simon Coxhell also resigned from the Board.

 

[pixel]

If you read the current directors' cvs, they have experience in capital raising.
Their latest project is a "conditional subscription agreement" with an Argentine uranium explorer, which requires up to $2M. The first rights issue at 3c was blocked by ASIC. That has now been withdrawn, and a new plan is being prepared, pitched at 5c. The purpose quoted in the 3B makes interesting reading:

FUNDS RAISED MAY BE USED TO PAY FOR:

• CORPORATE & ADMINISTRATIVE COSTS;
• DUE-DILIGENCE COSTS FOR THE PROPOSED INVESTMENT IN LATIN URANIUM SRL (“LATIN”) (REFER TO ASX ANNOUNCEMENT RELEASED ON 30/06/2014);
• ACQUSITION OF 15% OF LATIN;
• ACQUISITION OF OTHER INVESTMENTS; OR
• PAYMENT OF EXPLORATION EXPENDITURE.

Not many shares are being traded atm, but someone seems interested to hold the share price up. That has presented a few opportunities for swing trades in recent months. Currently, I'm again holding a few, wondering whether there is a chance of them being pushed into double figures? DYOR

 

[PZ99]

Spoiler

Cohiba Minerals Limited (ASX: CHK) (“Cohiba” or “Company”) advises that it has been made aware that the Mining Licence Application ML 100115 (Mt Cobalt Stockpile Project) applied for by Cobalt X Pty Ltd has been withdrawn by the tenement management consultant as a result of the failure to obtain a required third party consent. The Company is in the process of assessing its options in respect of the withdrawn application and continues to pursue the grant of the remaining tenement applications applied for by Cobalt X Pty Ltd.
The Company will provide further updates as they progress.
For Further information, please contact:
Mr Mordechai Benedikt

This company appears to have failed to inform the market that ML 100115 had been abandoned on the 11th October. Relieved to have sold this on Wednesday and dodged that bullet.

 

[Garpal Gumnut]

This little gem is not only named after my favourite cigar but has a new Chairman who seems motivated to put his money where his mouth is.

Going for Copper, Aluminium, Cobalt and Gypsum exploration close to some tenements held by the big guys makes sense.

gg

 

[barney]

This little gem is not only named after my favourite cigar but has a new Chairman who seems motivated to put his money where his mouth is.

Always a good sign GG …… $9 million market cap with a bit over $1 million in the bank so plenty of headroom to move higher ……

Chart chugging along nicely but you'd expect they will need to raise some cash soonish?

 

[PZ99]

You gotta wonder what's in the espresso at Collins Street when they hand out speeding tickets as if it's a crime for a speccy to turn its business around and actually succeed

Still, might present a opportunity for a re-entry which is probably why they do it

 

[explod]

By jove, interesting jump up in price and volume GG and there is a whole week to go.

The boots are cracking.

 

[Garpal Gumnut]

By jove, interesting jump up in price and volume GG and there is a whole week to go.

The boots are cracking.

Thanks explod.

Is my run too late? CHK is loaded up with every chemical known to every Russian gymnast intent on reproducing without surgery.

I'll comment further on the Comp thread. It is quite a rise, 25% today.

gg

 

[myrtie100]

 

[greggles]

Just noticed Cohiba Minerals has been flying since the start of the week. Volume is high but not huge, so there must be a lack of supply and buying pressure is pushing the price up.

I don't know much about this company other than they have a number of mineral prospects with a lot of potential, including the Olympic Domain tenements (located near Olympic Dam (BHP) & Carrapateena (OZ Minerals)) which are currently being drilled.

They carried out a heavily oversubscribed SPP late last year which raised $9.38 million through the issue of 310,536,924 fully paid ordinary shares at 1.7c.

CHK currently looking very bullish. The question is, will it continue?

 

[barney]

They carried out a heavily oversubscribed SPP late last year which raised $9.38 million through the issue of 310,536,924 fully paid ordinary shares at 1.7c.?

Yeah, big vote of confidence from the Shareholders.

Original SPP plan was to raise around $2 million apparently .... Over subscribed to $9 million as you say Greg, and they closed it early!

Less than a month after closing, the Share Price has doubled!

 

[greggles]

Original SPP plan was to raise around $2 million apparently .... Over subscribed to $9 million as you say Greg, and they closed it early!

Less than a month after closing, the Share Price has doubled!

That's the kind of SPP you always wish you could get in on! Well done to those holding.

CHK is up again today (currently 7.1%) and it is no surprise that the ASX suddenly became interested in why their share price is going bananas. They copped a speeding ticket and this is their response:

So some good reasons there.

Copper is tearing ahead, up from US$4,774 a ton in March 2020 to US$8,036 a ton today.

Pending drilling results from the Olympic Domain Project and the heavily oversubscribed SPP have all added to the positive buzz around CHK.

This is definitely one to watch, as I suspect we are going to see further gains. Market cap is only $60 million so plenty of room to move if the good news keeps on coming.

 

[frugal.rock]

So, where to from here, huh?
Flip a coin. Headem up, spinner.
Up she goes....

 

[frugal.rock]

Chart update

 

[Porper]

Good breakout, and could say a cup & handle is forming. However this stock is going to move on long awaited drilling results. Bad and it dives either way. Good, then who knows.

Disclosure: I hold.

 

[Dona Ferentes]

care for an update update?


High Grade Copper Intersected at Horse Well Prospect

Highlights:
• Assay results received from latest two drill holes at Cohiba’s Horse Well Project in the prolific Gawler Craton, the world’s premier address for IOCG deposits.
• The Gawler Craton is host to BHP’s Olympic Dam Cu-U Mine, Oz Mineral’s Cu-Au Mine and BHP’s Oak Dam West copper discovery which is directly adjacent to Cohiba’s Horse Well project.
• Hole HWDD04 was assayed over a length of 473.6m (950 to 1,432.6m) from 950m depth and encountered persistent low-level copper throughout.
• High grade intersections included 0.9m @ 1.85% Cu from 974m; 0.8m @ 12.15% Cu from 1033m; 0.4m @ 0.97% Cu from 1089m and 0.5m @ 2.58% Cu from 1225.5m.
• Assay results have provided a strong incentive for Cohiba to continue its targeted exploration activities in the Horse Well area with further deep drilling programs being developed.

and down (when "significant encouragement that we are drilling in the right location" is not enough)

 

[System]

On May 17th, 2024, Cohiba Minerals Limited (CHK) changed its name and ASX code to Altair Minerals Limited (ALR).