CRC - Cortona Resources

[System]

Cortona Resources Limited (CRC) is a gold exploration company with projects located in WA and NSW, Australia.

http://www.cortonaresources.com.au

 

[reallysure]

Peter was waiting for a long time to sell of the North Monger project and has finally sold it to Silver Lake....Barrick didnt want it....why? Harder to mine? Not as good high grades (<3g/t) and Nickel (54% recovery only), but further drilling programs might help out in North Monger for Silver Lake.

The flagship at Majors Creek is now on its way and getting final approvals...i am holding medium and long term

 

[reallysure]

Dargues Reef Feasibility Study Continues

Cortona will be hosting informal information sessions on Friday 13th
and Saturday 14th of August at the Majors Creek Community Hall.

http://www.majorscreek.org.au/

 

[reallysure]

+1,000,000oz?

anyone agree with me there is already +500,000oz in just one small section area they are drilling in Majors Creek?

anyone agree with me there is +1,000,000oz around the whole area of Majors Creek combined with the surroundings?

Peter Van Der Borgh 'We are not shy saying that we are looking for at least 500,000oz here - I actually start to see 1,000,000oz here now'.

http://cortonaresources.com.au/IMG/pdf/MEdia_web.pdf

 

[kgee]

CRC REVIEW

November news flow

DFS ( definitive feasibility study) is due to be reported along with the Company’s maiden reserve

Target resource estimate 500000 oz @ 6 g/t
Earlier this year at Paydirts Gold Conference, Managing Director, Peter Van Der Borgh said, 'We are not shy saying that we are looking for at least 500,000oz here - I actually start to see 1,000,000oz here now'.

Assays are due from 7 holes in the Plum lode drilling campaign. Results so far look very encouraging with 12.6m @ 9.9g/t ~80m below surface.
All 7 holes intercepted mineralisation

On going drilling of shallow targets surrounding

Summary

In October CRC raised 4.25 million in a share placement @ 0.17c I see this as a new line/level of support
Current resource estimate = 286000 oz. Target resource = 500000 oz

Although Ev/oz of $80 ish looks a little high. CRC has high grades ( 6 g/t) and are looking at moving from explorer/developer status to producer next year. (NB almost all goldies EV/oz look high to me)

I like their strategy of trying to fast track to production and increase reserves as they go. Planning on production b4 the end of 2011

With a positive DFS and resource upgrade + additional drill results from Plums lode and nearby targets I’m thinking a re-rating is on the cards.

TA it looks like an ascending triangle:
Support 16c
Resistance 23.5c
Target 31c

If any chartists could support my TA it would be appreciated

 

[kgee]

Sold out today after finding the local council are adverse to a 24/7 operation. Not sure what influence this might have on permitting applications as theyr'e carried out by NSW state govt.
But I figure better safe than sorry (brings back memories of FNT)

"The Council went in committee to discuss issues of water, amenity, noise and other possible impacts... with a request for the hours of operation to be limited to 12 hours per day Monday to Friday, and six hours on Saturday, with Council adding “that council expresses its concern about the adverse implications if it goes ahead and asks that the State impose conditions that are as rigorous as necessary.”

 

[benwex]

Sold out today after finding the local council are adverse to a 24/7 operation. Not sure what influence this might have on permitting applications as theyr'e carried out by NSW state govt.
But I figure better safe than sorry (brings back memories of FNT)

"The Council went in committee to discuss issues of water, amenity, noise and other possible impacts... with a request for the hours of operation to be limited to 12 hours per day Monday to Friday, and six hours on Saturday, with Council adding “that council expresses its concern about the adverse implications if it goes ahead and asks that the State impose conditions that are as rigorous as necessary.”

CRC is moving today. Any idea when the NSW government will make a decision on the proposed mining operations for Majors Creek?? Nothing in there latest Quarterly..

Benwex

 

[benwex]

CRC is moving today. Any idea when the NSW government will make a decision on the proposed mining operations for Majors Creek?? Nothing in there latest Quarterly..

Benwex

http://www.smh.com.au/business/hawk...est-for-a-junior-in-years-20101128-18cbl.html

This should explain the unusual SP move today...

Benwex