I agree, CEL have been pretty good at bringing out regular results that on the surface seem outstanding, but there's been muted responses. Numerous intersections above 50 gold gram meters and a large number of over 100 along the entire known mineralised zone. If these drilling results came out in WA it'd be front page of the Mining Weekly.
Latest video presentation below.
The problem I see is the gaps between the mineralisation that the MD has addressed at least three times in other video presentations that I've seen. He says things along the lines of 'I know some people have said 'the deposit doesn't link up' or something like that, which I think he means there's big gaps between the stacks, and it looks like there is.
At about the 7min mark he starts talking about the deposit with some cartoons displaying the intersections and you can clearly see the gaps in the mineralisation. It's just how they strip and mine those high grade areas that I'm not sure about. He's continually said it's just one giant open pit, but that's a lot of waste.
Initial MRE was due early this year, but he's now saying it may be later this quarter but probably early next quarter. The aim is to have done half of the 200,000m of planning drilling for an initial MRE just so the market can appreciate the scale of what they've got. They're done 78,000m of drilling so far, so there's more to go for the MRE. I expect it may even be mid next quarter due to lab turn around times.
As above, and they haven't found the bottom of the system in the slightest, but they're focussed on the top 400m or so which will be amenable to open pit.
Ecuador drilling update due next week will be interesting. They could have a huge porphyry system there, which most Australian's won't get as they are low grade, but massive tonnage.