CLE - Cyclone Metals

[Dona Ferentes]

and the cop is awake

back from the bench ; in fact, sat out the entire season


.... and down down.. a drop of 55% at open

 

[Sean K]

back from the bench ; in fact, sat out the entire season


.... and down down.. a drop of 55% at open

This is a weird one. Buy distressed assets, try to improve them, and then do something else. Obviously the 'improve them' bit is falling a bit short.

I like how their administration costs are a fraction of what they're putting into exploration. LOL

Staff costs $51K? Is that below the minimum wage? Obviously doesn't include the directors who are giving themselves around $350K.

 

[Dona Ferentes]

And the money-go-round continues

ACQUISITION OF HIGHLY PROSPECTIVE GOLD, COPPER, NICKEL AND
PGE PROJECTS IN NEW ZEALAND

Highlights
• Cyclone to acquire 100% of Grand Port Resources Pty Ltd, which holds 6 highly prospective gold, copper, nickel and PGE projects in New Zealand, with a further 2 lithium and REE project applications being submitted shortly;
• Grand Port’s projects covering 1,140km2, are all either near operating mines and facilities, or other resources companies;
• The projects are Macraes South, Muirs, Mareburn, Longwood Range, Waikerikeri and Drybread,and all are considered underexplored by modern exploration methods

 

[greggles]

Cyclone Metals has recovered 76 grams of gold nuggets from test pits at the Nickol River Gold Project. Management is currently planning a maiden drill program based on results to date.

Well, they know they have gold at the Nickol River Project. The important question is, how much?

 

[basilio]

Will Cyclone metals become another FMG ? Or perhaps an EDE...
Yep sitting at .002c per share with a company value of $12 dollars (almost.. just add a "m") CLE is going to move mountains.

Magnetite iron ore is rapidly becoming favoured not only for its higher iron content, but also due to its superior magnetic properties. Pic: via Getty Images.

Cyclone Metals acquires world’s largest proven undeveloped magnetite iron ore project​

Mining

Cyclone Metals has acquired the Block 103 project in Canada, is the largest undeveloped magnetite iron ore project in the world with an initial NI 43-101 compliant mineral resource of over 7.2 billion tonnes grading 29.2% iron
Block 103 covers 7,275 hectares in the Labrador Trough, one of the largest iron ore belts in the world accounting for 99% of Canada’s iron ore.
Over $35m has been spent on the project thus far, including extensive drilling campaigns, metallurgical test work and engineering studies which outline two zones of high potential mineralisation on the property; the Northwest Zone and the Greenbush Zone
It’s a great pick up for Cyclone Metals (ASX:CLE), especially considering growth in global magnetite iron ore demand.
In 2021, the market was valued at US$23 billion and is expected to expand at a CAGR of 5.43% from 2022 to 2027, reaching US$31.6 billion.

(make sure you get to the bottom line.)

Cyclone Metals acquires world’s largest proven undeveloped magnetite iron ore project - Stockhead

Cyclone Metals has acquired the Block 103 project in Canada, is the largest undeveloped magnetite iron ore project in the world.

stockhead.com.au

CLE acquires 100% largest undeveloped magnetite iron ore dep (PDF 1,247.9 KB)

 

[Dona Ferentes]

This is a weird one. Buy distressed assets, try to improve them, and then do something else. Obviously the 'improve them' bit is falling a bit short....

No, they've gone with Labrador, as mentioned by bas.
Shares up 100% to $0.002

Staff costs $51K? Is that below the minimum wage? Obviously doesn't include the directors who are giving themselves around $350k

And of course this gambit:

....at the GM, a new consultancy agreement has been entered into with Okewood Pty Ltd (Okewood), an entity
controlled by director Tony Sage. Key terms of the new agreement are disclosed in the GM notice of meeting
under resolution 9 released to the ASX on 07 March 2023.

 

[Sean K]

No, they've gone with Labrador, as mentioned by bas.
Shares up 100% to $0.002

View attachment 155958


And of course this gambit:

....at the GM, a new consultancy agreement has been entered into with Okewood Pty Ltd (Okewood), an entity
controlled by director Tony Sage. Key terms of the new agreement are disclosed in the GM notice of meeting
under resolution 9 released to the ASX on 07 March 2023.

Not often a settlement is made with consideration of over 2 billion ordinary shares. It's the Venezuela of the ASX.