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CDT - Castle Minerals

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It was a speeding ticket to which the company replied with a standard, "We know nothing!" response. Not sure how the market will take this but back to trading we go.
 
It's on again today. CDT up another 13.89% to 4.1c. There was some selling at market this morning that pushed the price down but buyers gained control about an hour ago and the share price rapidly increased from 3.4c to 3.8c and has just recently hit 4.1c. Lots of line wiping on the way back up. Volume looks like it will be about the same as yesterday: ~ 40 million shares.

CDT looks and feels very bullish at the moment, and I have no reason to believe we will see a change of sentiment in the short term.
 
I think the nearology with RTR in the Earaheedy is finally starting to have an effect. Here is an image from one of RTR's more recent announcements. Keep in mind that the mineralisation is open in all directions.



And here's an image from a recent CDT announcement:



CDT is just to the right of all of RTR's major deposits. Where there's smoke there may also be fire.

...and on top of that there's the graphite, gold and lithium.
 
CDT in a trading halt this morning pending an announcement regarding a capital raising. I suppose this was inevitable given the recent share price increase and the company's need for working capital. A few million dollars raised at 3c or above is all that is really needed, perhaps with some attaching options to raise some further cash down the road.

The bottom line is CDT needs the cash to ramp up exploration, so best just to get it done and then push the most promising projects forward as fast as possible.
 
$3.6 million raised via the issue of 120,000,000 new FPO shares at 3c a share. The placement was heavily oversubscribed and puts CDT's cash position at ~$6 million. 3c is quite a discount to the current share price, but given the recent share price increase it is understandable. It's good they didn't dilute any further at the 3c level and hopefully they now have enough cash reserves to accelerate development at their most promising projects; specifically the Earaheedy tenements, the Battery Metals projects in Western Australia and Ghana and the Beasley Creek and Polelle projects.

The current share price is 3.8c, so CDT only slipped 5% after the announcement regarding the placement this morning. The buy side of the market depth looks very strong.
 
Mention lithium, and the share price surges. CDT moving the Beasley Creek Project forward quickly now, targeting gold and lithium. RC drilling to commence shortly.

CDT have their fingers in many pies, so expect a lot of news flow this year. There should be some Earaheedy news soon, but the company is smart to focus on their battery mineral prospects in the near term to capitalise on the sector's bullish sentiment.

 
Quarterly out today. CDT have a lot planned between now and the end of the financial year, so expect plenty of news flow in the coming months.

 
CDT up 38.46% to 5.4c today on very high volume of almost 43 million shares. Buyers were in a frenzy in the last 30 minutes, driving the price up from 4.5c to 5.4c. Amazing finish to the day.

No news today, but my guess is this has something to do with CDT's tenements next to Rumble Resources in the Earaheedy Basin. RTR released an announcement this morning reporting a wide, shallow zone of high-grade Zn-Pb sulphide mineralisation within the recently discovered and newly named Kalitan Feeder Zone at the Chinook Zn-Pb-Ag-Cu Prospect. This is all happening very close to the border between RTR's and CDT's tenements. RTR market cap = $232 million, CDT market cap $39 million.

Even if CDT hits 10c, it will still only have a ~$70 million market cap. Interesting times.
 
Just a quick TA look at CDT's recent price action. I think we'll see 4.5c acting at support after today's move. Looking very bullish.

 
Announcement through this morning that CDT's 37-block Martigallup licence application, adjacent to the Kendenup Graphite Project in south-west WA, has now been granted (EL70/5963). This will enable the company to more cost effectively evaluate and explore both licences. Ground EM survey to commence shortly.

Buy side of the market depth is stacking up nicely this morning and it is looking like CDT will break through 7c today.

 
After yesterday's rout due to Russia-Ukraine tensions, CDT is bouncing back nicely (currently up 21.43% to 5.1c) after announcing widespread anomalous lithium at its Woodcutters lithium project in the Norseman region of WA.

Very good news, now CDT needs to get moving on ramping up exploration and strike while the iron is hot.

 
New interview with MD Steve Stone. Very detailed information regarding project updates and company strategy moving forward.

 
CDT breaking out from a pennant formation. Volume will easily break 60 million shares today. About three weeks of consolidation on low trading volume before today's breakout. I suspect a catalyst that will take it above 7c could well be announced sometime this week.

Let's see how it plays out.

 
Apologies for the lack of a chart but is that cup and handle forming on a weekly chart?

Thanks

bux
 
CDT roaring today. Line wipes galore. Currently at 6.6c with the sell side thinning out and some big buys going through. Something is in the wind.
 
The HLEM survey carried out at the Kambale Graphite Deposit has provided evidence of possible below cover extensions to the known mineralisation.

Lithium is the hot battery mineral at the moment, but the economics for graphite look even better with a substantial supply deficit and new graphite projects slow to get up and running.

CDT management need to progress this project as quickly as they can to take advantage of the anticipated upswing in graphite prices in 2022.


 
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