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CR9 - Corella Resources

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Corella significantly expands regional landholding after reporting broad drill intercepts of high purity bright white kaolin at the Tampu project
• Two new tenement applications expand landholding by 446%
• Corella has now established a regional scale footprint covering 768km2 (259
blocks) of contiguous ground being highly prospective for bright white kaolin
• Bright white kaolin occurrences associated with distinctive basement geology of
the Beacon region – new ELA’s lock up the kaolin potential of the Tampu region
• Maiden Mineral Resource Estimate for the Tampu Kaolin Project results expected
in late September
 
Awaiting the MRE which the company originally stated to be announced October.
Expectation is high, currently the market does not have a real interest here, a bit of dumping has been keeping the price below 5 cents whenever it seems to rise.
Hopefully we see the emergence of a major player in the Kaolin and silica markets, initial reports indicate top quality, which could drive the share price significantly.
 
Corella went into a trading halt as the market opened, suspect its an announcement on the MRE.
Market announcements like this if it is the MRE should just be put to market not left over four days before disclosing.
Four days of possible leaking?
The company has said that the MRE was coming October so everyone was expecting anytime now.
Whatever the result it will mean either it’s doomed to remain around 4 to 5cents forever or possibly if the find is of the highest quality and there is enough there to mine at near surface for decades then …….
The story will continue Tuesday morning or earlier.
 
CR9 announces its MRE for its Tampu project.
9 November 2021 ASX Announcement
Maiden Inferred Mineral Resource Estimate of 24.7Mt for the Tampu Kaolin Project
 Maiden Inferred Mineral Resource Estimate of 24.7Mt completed at 100%-owned Tampu Kaolin Project by independent consultancy CSA Global
 Total Inferred Mineral Resource of 24.7Mt with an average yield of 53% for 13.1Mt @ 36.5% Al2O3 of <45μm very high quality bright white kaolin with low impurities
 The high purity specification of the Tampu deposit highlights the potential of the resource to qualify as feedstock for the target HPA market
 Tampu has the potential to become one of the highest quality undeveloped kaolin deposits globally and is Corella’s first kaolin deposit defined at the Project
 Tampu mineralisation open in all directions, an average depth of 4m and a footprint covering less than 0.15% of the total Tampu landholding with substantial potential for future growth
 Samples dispatched for HPA test work and to potential offtake partners to test the bright white kaolin from Tampu using their own processes
 The Company will immediately commence technical studies to feed into a Scoping Study for the project
 Further exploration program planning commenced at increasing the Company’s bright white kaolin resource base
 Cash balance of $4.5 million as at 30 September 2021 Next Steps:
 Scoping Study at Tampu Q1 CY 22
 Extensional / Infill Drilling at Tampu Q1 CY 22
 HPA test work results Q1 CY 22
 Offtake negotiations for Tampu H1 CY 22
 Advanced exploration programs at Wiltshire, Kalannie and Bonnie Rock Projects H1 CY 22
Corella Resources Ltd (ASX:CR9) (“Corella” or the “Company”) is pleased to announce the completion of the Company’s initial Tampu Mineral Resource Estimate completed by CSA Global and reported in accordance with the 2012 JORC Code and guidelines.
 
CR9 news in the early part of the month showed potential there for making a substantial company.
The share price unfortunately does not reflect the same.
The close on Friday was 4.2cents the lowest for quite a few months.
The continued selling from an unnamed party is driving the price down whilst the unnamed party might still be making a very profitable return on investment.
Shares of 15million were issued to the lead manager back in April when the company floated, these shares were not held in escrow, whilst shares issued to directors and others were to be held in escrow
The CEO of the lead manager CPS recently sold one million shares under Sunset Capital Management.
I don’t know currently what CPS still hold and if they are selling, I wish they would announce their intentions.
Once the selling is exhausted and the seller has probably exited, I have the opinion that the share price will recover substantially as further news on the quality of the deposit is digested.
I do have an opinion that shares issued to lead managers should be held in escrow and if not that legislation is in place that it is announced if further is acquired or parcels are sold.
 
My pick in the January monthly comp.
The stock has been holding up at 4 cents.
The first quarter
Will see some test results if the kaolin deposit can qualify as HPA (high purity alumina)
Scoping study on the economics of a mine
Potential offtake agreements
Continued drilling, the deposit is shallow so drilling costs not concerning

The company states it has enough cash on hand for 13 quarters in it’s first activity report end of September.
It’s hard to know what future cash burn after only one quarter in operation.
More or less everything depends on the purity of the deposit which initial indications are of the highest purity.
If the purity is not of the best quality then the stock will go nowhere and just be another kaolin producer if it can produce at an economical cost.
The share price is holding at four cents as selling from certain parties exit taking profit from initial price of 2 cents
In hindsight as I type my thinking is I might have selected the wrong stock for January maybe February or March would be a better month.
 
The, company states it will share some more news over the coming weeks.
Scoping study news to come
Test work continues on suitability for HPA
Company looking to fast track revenue
Potential offtake agreement discussion to continue
 
Looks like something is happening, looks like it broke out of a falling wedge yesterday on largest volume for the past five to six months.
Yesterday up from 4.2 cents to 4.8cents.
A scramble seems to be on this morning for a chunk of it.
News expected any day now.
I have been sitting on this since almost mid last year and held despite the fall below 4cents just have the feeling this will be a bit more then a China clay company.
 
This company has no respect for the Aussiestockforums monthly tipping competition.
They are currently in a trading halt with an announcement due to market to be delivered Thursday 30th June.
It’s been a long wait for the results of testing, due a few months ago.
Hopefully their future produce is suitable for HPA (high purity alumina) otherwise it’s just another kaolin company which have been multiplying like rabbits.
Held this stock for a year hoping for big things it might move a day to early for the comp.
Anyway it will be my pick.
 
Well at least I had something green today CR9 up 12% on announcement.
 

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Highlights:
 Total of 54 hole (1,021m) resource definition and exploration drill programs were completed with all holes intercepting bright white kaolin.
 47 hole (892m) Tampu Resource Definition infill drilling completed at existing Tampu project to upgrade Resource to Reserves and a fast track to PFS.
 Drill core to produce a definitive bulk metallurgical test work sample to further offtake discussions and feed into feasibility studies.
 Completion of resource definition drilling follows previous outstanding metallurgical results achieving higher than commercial 5N (99.99906%)1 and distinguishing Tampu as the highest purity kaolin feedstock for HPA compared to its peers.
 Additional 7 hole (129m) exploration drill program identifies two major bright white kaolin discoveries at the Whitecap and Whitehills prospects located just 2km and 19km from the existing Tampu resource which adds potential for growth.
 Cash balance of $2.31 million as at 31 December 2022.
 
Corella acquires mining storage and infrastructure hub to fast- track progress towards production

 Corella Resources has entered into a binding contract to acquire the Tampu grain storage facility
 6.12Ha facility located only 2.5kms from Corella’s 24.7Mt Tampu deposit and will be pivotal for the proposed mining operations
 Contract is unconditional after a successful due diligence period with settlement expected Q3FY23
 The site consists of a 3,750m2 (~15,000t) storage shed, road loading facility, weighbridge, site office with accommodation and a Telstra mobile tower nearby
 Critical infrastructure secured to allow the Company to continue advancing towards a mining operation at Tampu potentially saving significant time and expenditure
 The facility will allow for easy access for storage and transport of the mined product to the end buyer.
 Resource definition and exploration assay results expected imminently followed by an upgraded Mineral Resource Estimate leading into a Scoping Study
 
Final assay results from the recent Resource Definition sonic core drilling are expected imminently, the Company will update the market in due course.
The results of the resource definition, including specific gravity measurements, will increase the geological confidence and upgrade the existing Inferred Mineral Resource into Indicated Measured Resource categories for conversion into Mineable Reserves. These Reserves along with additional metallurgical results from the Sonic drill core will then be used to underpin a Pre-Feasibility Study for the Tampu Project.
Furthermore, the aircore exploration drill hole assays at the Whitecap and Whitehills prospects will assist in designing and determining suitability for a comprehensive drill program at the new prospects targeting maiden mineral resource estimates at these locations.
 
CR9 now have the largest deposit of the brightest white kaolin in Australia, the deposit is shallow and should result in a very low cost mine.

13 February 2023 ASX Announcement
Exceptional sonic drill intercepts confirm Tampu as Australia’s premier bright white kaolin/HPA project
• Broad, shallow sonic drill core intercepts confirm high purity bright white kaolin and demonstrate the quality, scale, and potential of the Tampu Kaolin/HPA Project
• CSA Global to commence work on upgrading the Tampu Inferred Mineral Resource Estimate of 24.7Mt of kaolin into Indicated/Measured categories
• Upgraded Mineral Resource Estimate to underpin a Scoping Study and will include options for supply into traditional and HPA markets
• Sonic core bulk sample to provide definitive metallurgical/HPA analysis
• Test pit planned for multiple bulk scale samples for a number of potential offtake
partners
• Tampu has the potential to become a long term source of the highest purity kaolin/HPA globally - Corella remains focussed on a strategy of becoming a major supplier/producer to the HPA market
• Substantial potential for future growth as demonstrated by recent drilling success at the nearby Whitecap and Whitehills prospects with assays pending
 
CEO states today that assay results from two other projects are imminent at Whitecap and Whitehills.
Not sure when they will upgrade the MRE for the Tampa project no statement on that only that they working towards it
CR9 opened today at 3.9 and then someone sold off a handful to drop the price to 3.2cents.
VWAP finished at 3.6 enough to get me 2nd in the monthly comp grrrrr.
 
Ahhh 2nd or 3rd far better than my 25th. No dough for me today.
 
brerwallabi said:
.
VWAP finished at 3.6 enough to get me 2nd in the monthly comp grrrrr.
Click to expand...
In an immediate trading halt of its securities pending a material announcement regarding assay results from the Whitecap and Whitehills prospects and proposed capital raising.


...good n bad news for the comp. Now 3.4c
 
Dona Ferentes said:
In an immediate trading halt of its securities pending a material announcement regarding assay results from the Whitecap and Whitehills prospects and proposed capital raising.


...good n bad news for the comp. Now 3.4c
Click to expand...
It might have closed at 3.4cents but they were bidding 3.5 and sellers were at 3.9cents before the halt yesterday arvo.
This quarter will probably see their cash drop though still enough to fund another three quarters.
Suspect the assay results will be similar to Tampu as some holes were no more then two kilometres away from Tampu, the other holes at Whitehills were about nineteen kms away again suspect brightness of kaolin will be similar.
Think it will be a good time to get some more cash in for further drilling and as they convert to reserves and prepare PFS.
I can see a mine being operational here very quickly management are in a hurry to get things happening.
Only just over three hundred million shares on issues, not sure how much they want to raise but if they go for a couple of million, estimate maybe four hundred million shares then on issue.
I would rather raise further capital down the track when CR9 are trading in the teens.
My hope for this year hope I am not dreaming.
 
OUTSTANDING AIRCORE RESULTS POSITION CORELLA AS A GLOBAL SUPPLIER OF HIGH PURITY ALUMINA FEEDSTOCK TO THE GROWING LITHIUM-ION BATTERY MARKETS
CORELLA COMPLETES $1.2M STRATEGIC PLACEMENT
• Funds to progress Company’s strategy of becoming a global supplier of High Purity Alumina (HPA) feedstock being a critical mineral for the lithium-Ion Battery (LIB) and LED markets
• High grade aircore intercepts at Tampu, Whitecap and Whitehills confirm outstanding purity and the potential for major resource growth at the Tampu Project
• Test pit planned for multiple bulk scale samples for a number of potential offtake partners to further advance offtake discussions
• Corella has received binding commitments to raise $1.2 million through an oversubscribed placement of shares and free attaching options
• Leading Melbourne Boutique, Peak Asset Management acted as Lead Manager to the raise
Next Steps:
• Further drill programs being designed to advance Whitecap and Whitehills towards a maiden Mineral Resource Estimate (MRE)
• CSA Global working on upgrading the existing Tampu Inferred MRE of 24.7Mt into Indicated/Measured categories
• Upgraded MRE to underpin a Scoping Study and will include options for supply into traditional and HPA markets
• With the proceeds of the Placement, Corella is well funded to accelerate feasibility and economic studies, advancing towards a mining operation at Tampu and advance Whitecap and Whitehills towards a maiden Mineral Resource Estimate (MRE)
 
Forty million shares issued at 3 cents not much dilution, share price holding slightly up at 3.5cents
 
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