CTM - Centaurus Metals

[mullokintyre]

DFS now revised to Q4 23 from mid year, which was already delayed by 6 months. This is extremely disappointing. Makes me seriously wonder what's going on.

I wouldn't be surprised with some punters losing patience with this management team. Really poor effort.



View attachment 156351

Happy I got out in March.
One of the very few I got right.
mick

 

[Sean K]

Happy I got out in March.
One of the very few I got right.
mick

Well done Mick.

I'm certainly regretting not taking more off the table at $1.50, but I was being greedy.

I'm taking a punt that the met is ok on the nickel and it's mainly just the resizing of the pit shell and effect on mining inventory that has shifted inputs into the DFS. After the last MRE they had to make some significant changes from the initial scoping studies. Looks like it's going to be one giant open pit and the DFS won't even look at underground mining. Although, that's a bit odd to me considering the shoots go to massive depth and look like they'll continue. So, maybe they've good reason to be delaying the DFS and it's not the met. Sounds like the capex might be much larger than the SS which might shock some punters, but the mill size, production rate and LOM are probably going to be much bigger.

 

[Miner]

DFS now revised to Q4 23 from mid year, which was already delayed by 6 months. This is extremely disappointing. Makes me seriously wonder what's going on.

I wouldn't be surprised with some punters losing patience with this management team. Really poor effort.



View attachment 156351

With $23M cash and high grade nickel, I am still holding my faith on CTM for an opportunity dive into

 

[Sean K]

With $23M cash and high grade nickel, I am still holding my faith on CTM for an opportunity dive into

I'm counting on long term investors seeing opportunities when it dips. With World class nickel deposits being swallowed up by the majors and Twiggies, this will go at some point. Unless the new Brazilian President decides to sell his soul to China...

 

[Miner]

@Sean K - what is cooking with CTM. Enormous volume this morning and price rise too.

 

[mullokintyre]

Rueters among others forecasting a Nickel surplus thanks to large new mine in Indonesia.
LONDON, April 27 (Reuters) - The nickel market is facing a massive supply glut this year as surging Indonesian production continues to outpace global demand.

The International Nickel Study Group (INSG) is forecasting a supply-demand surplus of 239,000 tonnes, the largest in at least a decade and a significant increase from last year's excess of 105,000 tonnes.

It also represents a lift from the Group's last assessment in October, when it expected a surplus of 171,000 tonnes for this year.
mick

 

[Sean K]

@Sean K - what is cooking with CTM. Enormous volume this morning and price rise too.

Very unusual volume. Someone buying the dip perhaps. Hopefully Twiggy or BHP buying a stake.

As Mick points out and has been mentioned here and in the nickel thread, Indonesia went nuts on expanding production last year but the supply/demand supposed to even out this year and a deficit develop in 2024-5. Hopefully the timing is right for CTM to go into development as the supply gap increases.

 

[Miner]

Very unusual volume. Someone buying the dip perhaps. Hopefully Twiggy or BHP buying a stake.

As Mick points out and has been mentioned here and in the nickel thread, Indonesia went nuts on expanding production last year but the supply/demand supposed to even out this year and a deficit develop in 2024-5. Hopefully the timing is right for CTM to go into development as the supply gap increases.

Making CTM the dark horse tip ? ?

 

[houtman]

Looks like most of it was just a cross trade.

10:19:37 AM

0.800

3,353,529

2,682,823.200

S3 XT

 

[DrBourse]

I know nobody asked for my input, but today has been a bit slow, so I gotta do sumthin, may as well just Butt In with my opinions....

CTM Technicals look Good - The CTM CCI was in a similar position back on 8/11/22 & again on 21/3/23 - so a bounce from the Benchmark Candle Formation Bottom Line would Technically be aimed at $1.00 - the open for 4/5/23 would be the confirming signal that the CCI needs - A Green Open would suggest that it's "Thunderbirds are GO" - however a RED Open could spell disaster - I Don't follow CTM, so I had a look at their Financials, and guess wat, They don't have anything that I would call Financial, which is obviously typical for a Penny Dreadful - so as usual with a PD, their progress, one way or the other, is based on the occasional Announcement, and a lot of Ramping and Guesstimates.....

Good Luck you PD Hunters....

 

[Sean K]

This is good news. I've been a bit concerned with this testing taking so long.

 

[Miner]

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02665858-6A1150126?access_token=83ff96335c2d45a094df02a206a39ff4

Will the market get excited on prospective news

 

[Sean K]

Another discovery sounds nice, but they have enough nickel already to get on with development.

Get the DFS done on what you have, get some off-take agreements locked in, find some cash, buy some buckets and shovels, and get to it!

Once you've produced first nickel sulphate and your EV is triple, I'll sell up and go to Crown and put it on black.

And, you're killing me in the monthly comp, lift your game.

 

[Sean K]

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02665858-6A1150126?access_token=83ff96335c2d45a094df02a206a39ff4

Will the market get excited on prospective news

View attachment 156944

There's something else going on with this. The resource seems to be outstanding in an outstanding mining district. I thought the met might have been off but that's been cleared up. Maybe permitting. Maybe politics. de Silva visited Xi recently, which is not a good sign.

 

[Sean K]

The final stage of the met testwork program complete and shows enough that they can build a plant to deliver a suitable product. This has dragged on a bit and one of the reasons the DFS has been delayed. So, time to crack on team! No reason off-take agreements / MOUs couldn't be pursued from this. Unless Vale are just going to buy everything off them anyway.

 

[Miner]

The final stage of the met testwork program complete and shows enough that they can build a plant to deliver a suitable product. This has dragged on a bit and one of the reasons the DFS has been delayed. So, time to crack on team! No reason off-take agreements / MOUs couldn't be pursued from this. Unless Vale are just going to buy everything off them anyway.

View attachment 157230

Mate @Sean K
Are you making a great excuse visiting Perth to attend the AGM on this Friday ?
please pm me then.

 

[Sean K]

Mate @Sean K
Are you making a great excuse visiting Perth to attend the AGM on this Friday ?
please pm me then.

Would like to, but a bit far for an AGM. Can you ask them to do it in Melbourne next year? Tks.

 

[Miner]

Would like to, but a bit far for an AGM. Can you ask them to do it in Melbourne next year? Tks.

If Darren holds the AGM in Melbourne - first person to complaint will be you . Wasting shareholders' money .
May be he change the date of AGM to coincide with AFL final like RBA does . I am not a shareholder. So you may write to him - LOL

 

[Miner]

The AGM to start soon.
Is there any must have requirement to publish a copy of AGM presentation on ASX and by when ?

 

[Sean K]

The AGM to start soon.
Is there any must have requirement to publish a copy of AGM presentation on ASX and by when ?

Dunno. Went up at 11.52. Not much new in the speech and preso. Thankfully no further delays announced. $23m cash as at 31 Mar. Spending about $10m a quarter. Going to have to raise again very soon to get to at least the DFS.