CLA - Celsius Resources

[System]

Celsius Coal Limited (CLA) was formerly known as View Resources Ltd (VRE)

Previous discussion of this company can be found in the VRE thread: https://www.aussiestockforums.com/forums/showthread.php?t=2492

http://www.celsiuscoal.com.au

 

[System]

On December 20th, 2016, Celsius Coal Limited changed its name to Celsius Resources Limited.

 

[greggles]

Been following CLA for a while. It has seen a good run over the last few months, having doubled in price.

Went into a trading halt this morning pending an announcement regarding exploration results. Will be interesting to see the outcome.

 

[greggles]

CLA getting dumped this morning after releasing what appears to be a fairly encouraging announcement.

After my last post CLA continued its climb to 15c but was sold off this morning and is currently at 11c, down 18.52% from yesterday's close of 13.5c.

Here are the details of the announcement:

ASX RELEASE | 12 December 2017

OPUWO COBALT RESOURCE DRILLING PROGRAM UPDATE HIGHLIGHTS

• Resource drilling program on schedule for mid-December completion, with over 14,000 metres completed as at 9 December.
• Hole DOFD0062 highlights potential for additional mineralised zones.
• First two batches of assays received, with highlights including:

o 7 m @ 0.12% Co and 0.46% Cu
o 4.37m @ 0.17% Co and 0.46% Cu
o 4.24m @ 0.15% Co and 0.45% Cu
o 5 m @ 0.12% Co and 0.52% Cu
o 4.94m @ 0.12% Co and 0.40% Cu​

• Further intersections of deep semi-massive sulphides in DOFD0103 and DOFD114, in western
sector of Project.
• Downhole electromagnetic (EM) survey to commence early in the new year, with four deep holes earmarked for survey.

I'm guessing this didn't live up to expectations. Not quite sure why.

 

[greggles]

Nice gap up this morning for Celsius Resources after the release of its maiden JORC compliant Mineral Resource at its 95% owned Opuwo Cobalt Project in Namibia.

Here's the details as announced by the company:

The Mineral Resource estimate comprises 112.4 million tonnes at a grade of 0.11% cobalt, 0.41% copper, and 0.43% zinc, at a cutoff grade of 0.06% (or 600 ppm) cobalt. The Mineral Resource estimate represents contained cobalt of 126,100 tonnes and consists of:

• 72.0 million tonnes at a grade of 0.11% cobalt, 0.42% copper and 0.41% zinc in the Indicated category, and a further
• 40.5 million tonnes at a grade of 0.12% cobalt, 0.41% copper and 0.46% zinc in the Inferred category.

CLA is currently up 21.88% to 19.5c.

 

[kid hustlr]

Beat me to posting in this thread. Had a stop order for this one at 17 - it's not gapped and gone. I'll pull my order as I probably don't want them if it comes back to me from here.

I thought this was one of the few good looking set ups around at the moment.

 

[pixel]

Hadn't long to wait for profit takers to move in.
OK, a Maiden JORC will always attract attention, but the devil is in the detail.

 

[Trav.]

Looks like I might of got into this one to early. I thought that the break of 21.5c on the 28th May was time to get in…. well that was wrong and since then it has retraced back to 19c.

I will keep an eye on it and hopefully the SPP price of 18.5c will hold, otherwise I will exit before it fills the gap @ 16c.

 

[Trav.]

Still holding, although I should have sold as per my post above.....bloody useless trader!

Looks like it bottomed out at the 9c mark. SS due of in the next 4-6 weeks (hopefully) and SP should rise in anticipation.

Celsius has been represented in a roadshow last week and that could also account for that interest of late.

 

[Trav.]

Extract below of announcemnet from Celsius. The point that I am interested in is the comment about scoping study remains on schedule...Market hasn't pushed price up with the anticipation of this announcement as I was hoping for maybe due to the dynamics of the overall markets and people are cashing out.

Anyway I am in and waiting patiently for some good news in the next few days.

 

[Trav.]

Trading halt today pending release of the scoping study. Hopefully good news

 

[Trav.]

No trading until Monday now. Scoping study must be pretty thick and taking awhile to read.

 

[Trav.]

Well I am not sure how the market will take this ( i suspect short term holders will jump) but it appears that CLA and ASX have compromised on a watered down version of the SS and unfortunately the meaty part $$$$ has been excluded.

https://www.asx.com.au/asxpdf/20181105/pdf/4400v1xqfc9t5j.pdf

 

[Trav.]

Down 27.62% is how the market reacted. Not unexpected but disappointing.

Closed @ 7.6cps

 

[Trav.]

Hopefully today's announcement and AGM will halt the SP spiral. Another waiting game required for management and consultants to get there sh#t together.

https://www.asx.com.au/asxpdf/20181113/pdf/44075shyhrvssk.pdf

 

[barney]

This one has been a major frustration for you Trav ….. Unfortunately we all get them at this end of the market.
At first glance the Co seems to be going about its business ok, but I think SH's are just losing patience.

 

[Trav.]

Unfortunately we all get them at this end of the market.

barney I seem to be collecting a few lately, but no stress as I have patience for this one.

 

[barney]

barney I seem to be collecting a few lately, but no stress as I have patience for this one.

Yeah its tough when they misbehave ….. As long as you can stay in the game

 

[Trav.]

CLA coming to life after their dismal scoping study effort.
No real news lately to drive this run but sell side is definitely thinning out which is reflected in the last couple of days SP rise.

 

[greggles]

CLA is up another 25% this morning to 8.8c. Nothing of any note has been announced since late last month, so perhaps there is news coming?

There appears to be some resistance at the 9.5c-10c level, so it may struggle to break through and stay above 10c. It will need a catalyst to give it some more momentum.