Isn't the resource upgrade due this qtr? It would be a priority to get that out in relation to the options about to expire.....one would think
Also I find it very interesting that with such a short time to go ie 20 days or something the CTSO's are being bought up so heavily, maybe someone knows something we don't?
Crazy people going anywhere near these shonky outfits,why go very risky on a peru project when you can get plenty of aussie io firms with much better credentials.?? its a dumb play imo...i wouldnt go near these with someone elses money...YT mate the risk v reward on these projects are way too much,but good luck to others who are prepared to have a go,odds are around the same as the pokies i reckon...tb
Again TB, this ain't an IO play its a Uranium play, the deposit in Peru and Kyrgyzstan are Uranium not Iron ore
I personally don't like Aust when it comes to U, much prefer the rest of the world, too many Greenies and tree huggers here in Aust
p.s. Grace you'd think so but you never know
Shemesian - under the alternate spelling "Michael Shamazian" - is a director of Mining and Petroleum Projects Limited, a company incorporated in the British Virgin Islands.
Mining Petroleum Projects has its head office in Ashgabad, Turkmenistan, and its website states that "Exchange Minerals Limited of Dubai" is an "associated unlisted company
Exchange Minerals Ltd of Dubai has just agreed to underwrite a rights issue of 53 million options to shareholders of Contact Uranium, for which it will receive a placement of 50 million options itself, subject to shareholder approval.
Options seem to be the preferred trading platform of Shemesian's company. One of Contact Uranium's major shareholders just happens to be Range Resources. Exchange Minerals is a major holder of Range Resources options too.
look at the little cash they are on hand and the country where their projects located. and the market sensitivity now. I would not be so surprise at the falling in price.
Yeah Alan was impressed with the Uranium hits, but look what the SP did
I'm guessing CTS will have to turn water to wine before their SP rises,
I wonder if Mega are still looking at them?
The low and falling U price isn't really doing them any favours either
There was an interesting update on a new virgin discovery in "Corachapi East" in an area called Quebrada Coral. Some of the grades are actually quite impressive, with the best result from the 24-hole drill programme being 0.53m @ 1.19% eU3O8.
Just quite why it has taken CTS this long to follow up on the gamma anomaly which extends at least 1.5km in strike is beyond me. The presence of former government workings should have given at least some kind of impetus to a more regional exploration approach.
Heading into the Peru field season, hopefully we can look forward to a few more positive releases from CTS. That's one of the problem with CTS I find, the apparent inability at times, to keep the market clearly informed and interested. I always remember when I heard: "Good management can make a bad project look good, but bad management can ruin a good project".
I still maintain the Corachapi is a great project, whether CTS has the goods or not to drive this thing along is another matter unfortunately.
jman
Bloody hell its good news week at CTS,ann on JV on their Kyrgyzstan project and the real clincher,the good Doctor Richard Napier has resigned.Their is hope yet,pity the poor option holders as its come about a week too late
Anyone else think this may be in for a bounce finally??
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