CTM - Centaurus Metals

[Sean K]

I'm not sure if these secondary listings are actually good for the companies or not, but I think there's an assumption it is. Will see.

 

[Sean K]

Not sure how much drilling has been done over Xmas and when t o expect further results. Might be some time while they continue to work on the DFS also. Hopefully more good extension drilling and another MRE upgrade to enhance the mining peramiters.

Another analyst report I missed was from Argonaut. $1.79 target. They must have read my comments about the WSA/IGO tie up on 16 Dec. LOL.

Currently, still in that ascending triangle with resistance at $1.18.

 

[Sean K]

There's been lots of selling above $1.13 so I don't expect $1.18 to go anytime real soon. Not sure what's going to push it over except for general market advance, the Tigre Deposit proved up, or perhaps another discovery. Or, maybe some more M&A taking place in the Ni sector.

 

[mullokintyre]

Market Players obviously hanging on your every word.
CTM up again to 52 week high at 1.19.
Be extremely good if it hold above it at the close.
Mick

 

[bk1]

Up 10% so far on no obvious news, and as you say now at a 52WH.
I dont see any other Nickel juniors on the ASX getting the same push...

 

[Sean K]

I thought I'd jumped the gun by calling a breakout earlier today when it looked like it was clearly through, but then dropped, and climbed again. Hopefully closes strong. If it goes to form, it'll probably (hopefully) consolidate above $1.18 for a bit before the next leg.

Could be just Ni continuing to go up. There was also news of a Canadian Ni company doing a deal for off-take with Tesla today, which may have put a spotlight on CTM. These guys are on a clear path to production with not a lot of risk.

 

[mullokintyre]

Well, it not only held 1.18. it shot right up to 1.275!
Up 15% for the day.
Guess those in the know have heard something, maybe a little more drilling to flesh out that expanding MRE.
Mick

 

[Sean K]

On top of the Talon / Tesla news yesterday, BHP were also buying into a Nickel mine in Africa, so maybe it's take-off and M&A action that's pushed this up.

 

[mullokintyre]

Sold half my holding at 1.34.
A 105 % gain in half a year is too good to pass up.
The rerst are now free carried.
Mick

 

[Sean K]

Sold half my holding at 1.34.
A 105 % gain in half a year is too good to pass up.
The rerst are now free carried.
Mick

I was very late to this and have averaged around the $1 mark. So, I'll sell half when it gets to Sprott's valuation. LOL Well, actually, I'm open ended on what to do with this as I'm not sure how big the resource is going to get, how high Ni is going to go, and who might try and take them over. So, general plan for me is to take some chips off the table if I think it goes a bit nuts, or buy the dips.

I'd really like to see some consolidation here above $1.18. It's run away from me a bit.

 

[mullokintyre]

Would be more than happy to buy in if it consolidated around the 1.21 mark or less.
Satisfies my tendency to try to make small 10 to 15 percent takes on stocks as they meander.
Mick

 

[bk1]

Nickel futures leapt overnight, and now early volume today for CTM.
I'm not sure that battery metals will meander in the first half of this year @mullokintyre

 

[mullokintyre]

Nickel futures leapt overnight, and now early volume today for CTM.
I'm not sure that battery metals will meander in the first half of this year @mullokintyre

perhaps not, but more than happy with my profit.
Mick

 

[Sean K]

Sold half my holding at 1.34.
A 105 % gain in half a year is too good to pass up.
The rerst are now free carried.
Mick

A 45% ish gain was enough for me to skim the pot.

 

[Sean K]

Nice timing to skim some cream. Now waiting for consolidation and potential downside action to some support. Unfortunately, that support is way down there. It's just unhealthy for good stocks to go running away and not establishing some levels of obvious support. As much fun as it is to see stocks pop, I just don't like the potential technical damage it can do.

In an ideal World, a flag appears.

 

[mullokintyre]

CTM in trading halt this morning sitting at 1.285.
Judging by the fall in the stock from last weeks 1.44, I would say that those in the know think they can buy it back cheaper.
perhaps a cap raise?
Mick

 

[Sean K]

CTM in trading halt this morning sitting at 1.285.
Judging by the fall in the stock from last weeks 1.44, I would say that those in the know think they can buy it back cheaper.
perhaps a cap raise?
Mick

CR. I thought they had enough to get through the next 12 months of drilling... Maybe opportune given the run up in the price. Hopefully we get some cheap ones, but I doubt it.

 

[Sean K]

This is quite a discount to the current price although 10% ish is about what you'd think. I guess that flag pattern will fail and it'll drop to that support line. Although, maybe getting the cash will just be seen as de-risking the path to development. AFR article:

 

[Sean K]

CR details out. I suppose this was of course going to happen, I just didn't think it was coming around for a few months. Anywho, it de-risks the path to a BFS, past DFS. Probably all the way to getting finance for the capex. They're going to have to tap the market for $300-400m for capex depending on the final scale of the plant. More likely $400m+ I reckon.

Just a shame it upset that beautiful breakout and set up on the chart side of things. Who knows what happens with the sp short term now, but should be quite a bit of support at the CR level which is also significant on the chart..

 

[mullokintyre]

Well, I guess it means I can buy back that half I sold at a significantly cheaper price.
All is not least.
Pity they didn't give the non instos and other non "significant" shareholders a chance at buying in at 1.16.
Mick