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CHN - Chalice Mining

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I wonder what happens to the SP from here? $2.4b MC, I wonder what 3Mt of NiEq etc is actually worth? Obviously have to wait till the Scoping Study to see what's extractable and can be converted to concentrates but it's a lot of $$ in situ waiting to be dug up. 3Mt @ $22,000 = $66b. Capex and Opex will be huge to make the two concentrates they're planning on.

Chart wise, it exploded when the last very significant MRE surprise hit the market on Nov 21. Then the overall market digested it and it went up for a few more days from $8 to $10, before a slow and steady downhill slide... hmmm. The overall market might have been an influence, but food for thought.


 
Interesting times ahead. Will it makes the $10 or will it retract. MY informant, the bloke in the mirror, is feeling very confident with CHN and also LTR. Sir Tim is the man.
 
Well observed @Sean K, but second thoughts ..
Mounts podium, clears phlegm, shuffles notes, pauses to scan audience, launches ..
" the cold winter has not apparently affected the orange juice harvest .." no that was something else ..
"The breakaway candlestick on the November 2022 MRE announcement was a big fat juicy Marubozu (almost), the candle yesterday a mere indecisive spinning top albeit a gap up."

 

Yes agree on yesterday's action. The selling may have been short term players lucky enough to get in sub $5 or long term holders who took the opportunity to sell in relief of getting some paper money back after it dived 60%.

I've got no idea what a fair valuation of this is at this early stage. Too many known unknows. It's obviously going to go much deeper and if they keep drilling to depth to add resources it'll cross 700Mt for sure. They think the whole purple bit could be mineralised.

Interesting in their ramp preso they released with the MRE that they compared it to a Norilsk type deposit. :-O It's gunna have to widen at depth for that I think.



 
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Pretty sh*t rally CHN so far.
Looking over the beach from a window stool (my favourite word) next to Maroochy surf club. Haven't seen any excellent bikini arses yet. Visiting ailing elderly relative. Will deliver exotic gift - Nth Qld green ladyfinger resistant starch bowel mover and micobiotic fuel.
Boring life.
 
I would rather see CHN move quitely up the step ladder in moderat steps rather than a massive leap to only then tumble back to the start or worse. $7 plus so far I'm happy.
 

I'm looking out the back of my motorhome/campervan at Phillip Island and not many bikinis about here. Average age must be 80.

It's been a couple of OK days finicky, so far so good. A 50% increase in resource should mean a 50% increase in SP shouldn't it? So, $9.30 ish? he he. Holding fast at the moment. $8 and I'm a dinosaur.

 
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Getting close to my 'thanks for the memories' price. Been a good run.

 
CHN has held pretty well close to the $8 mark. MC $3b....

Next catalyst may be the JV partner they get on board.

Now that BHP has got hold of OZL, they must be thinking about this. Only a major could take this on.



From qtly:

 
Gonneville is turning into a monster. By all accounts the NW of the load is continuing at depth into that blue box. At this rate, it could double in size. Potentially 5Mt NiEq +. At $25k a ton that's $75b in the ground.

 
TH for CR.

But they have $85m in the bank....



 
Someone elsewhere claims a street talk snippet on afr has tipped $60m placement @ $7.40?
That'd be o.k. Can never have too much cash in these times as an explorer, a voracious one. Might make CHN less desperate looking in jv negotiations?

Held
 
finicky said:
Someone elsewhere claims a street talk snippet on afr has tipped $60m placement @ $7.40?
That'd be o.k. Can never have too much cash in these times as an explorer, a voracious one. Might make CHN less desperate looking in jv negotiations?

Held
Click to expand...

They might be taking advantage of a high MC/SP to raise IOT not dilute too much.

Could also be somewhat related to a JV partner coming on but I'm not sure having more cash than is really required ties that up.

$60m is chicken feed I guess when you're EV is $2.5b sitting on $75b in minerals.
 
Sean K said:
.. not sure having more cash than is really required ties that up
Click to expand...
By that I meant having high cash might signal that CHN is not an urgent seller or joint venturer to any major that is interested. Not over a barrel even if the market tanks. And as you imply $60m divided by $7.40 is not a big dilution. I'm for it and will ratify it when it crosses my desk.
 
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