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CTS - Contact Resources

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ok guys who is on this one now, i jumped on today at 0.625

this one looks great with high grade uranium and only the top 20 metres of resource been drilled, its open at depth and along strike!

we need drill rig up there to start extending that resource!

ill be calling company today, any particular questions that people want to know

ill be asking:

- access to deposit, how accessable it actually is (i figure if they got a drill rig up there should be ok)
- when can we expect drilling to start
- as far as insitu leaching testing goes when can we expect production

anything else just post it on this thread
 
Any other tenements if they are applying in Peru to expand their resources? Peru looks good.
 
waiting for director to call back guys he isnt in yet, will keep you posted
 
Here are some questions for you DJ420


I guess the main thing to ask is when the exploration will be in full swing.

Also in the last quarterly they were awaiting some sampling assays have they received them yet.

Also I can't remember where I read it there has been talk about a listing on the Canadian Stock Market is this a route the company is thinking of taking
 
ok guys i spoke to the exploration manager and he had a few good answers for me:

How accessible is the resource?
the resource is at 4200 metres which is below the permanent snow line which obviously means easier access by road all year round. right now they are able to get drill rigs up there easily so as far as roads are concerned it is well accessable. there is also a main trans oceanic highway been built which is expected to be completed by 2009 which will allow even greater access to these uranium rich areas. this would mean that you could easily truck the yellowcake all the way to eastern ports of the country.

http://www.npr.org/programs/re/archivesdate/2000/nov/001127.peruhwy.html

http://rainforests.mongabay.com/amazon/Transoceanic_Highway.html

http://www.biceca.org/en/Article.28.aspx


When is next round of drilling to start?
they are waiting for approval for the next round of drilling to start and it is expected very soon. big bonus however they have secured two drill rigs so once the drilling is approved can start straightaway.

When can we expect production?
he laughed at this one. production would be dependant on expanding the resource but he did say that they could actually start small time production with what they have now, due to low extraction costs, no overburden, and using insitu leach would be very quick to setup.

so i dont think he was expecting to be questioned about production yet, BUT from what i gather production is going to be very easy and cheap to setup DUE to the very high grade nature of the resource and its location (on surface).

Are there any other tenements to be granted in Peru?
obviously this one was going to be elusive BUT he did say that CTS are looking at further acquisitions in the area. he wouldnt tell me what they were BUT stated obviously the area is been very highly contested and CTS are focusing on the two that have already been granted.

so i take that as they probably have some applications in but are just focusing on what they have for the meantime.


so showed me a little more about the company, they have some great deposits and now just need to continue expanding resource and then begin working on a BFS for production.
 
Can everyone please stop trying to make money out of the Uranium boom, find a producer of something else, get value for money!
 
How many companies with tin pot resources like this will actually ever see production? I suppose it's better than Aust U stocks?!
 
To true. But, that's what sell buttons are for.
Making money will always be about buying low and selling high, too clique?
It becomes a risk very soon though, when the govt starts talking.
 

Thanks for that DJ,
Well one to look out for after the conference.
 

I got in on an average of 0.6213
 
doogie_goes_off said:
How many companies with tin pot resources like this will actually ever see production? I suppose it's better than Aust U stocks?!
Click to expand...

Better in Peru than Australia yep. Also anyone have an idea on just a ballpark of where they can extend resources to? Currently 10-15mil pounds ish? May be 20mil lbs?
 
DJ420 - thats great, I didnt think an investor could just ring up any company and start asking them questions. Good work.

I read about CTS in the AFR, it mentioned 20 or so uranium hopefuls and Contact was one that I never heard of but stated "possible producer in 2008". Obviously this is old news and hasnt been updated however I bought purely on a punt, afterall I missed out on Marathon @ 68c awhile back and if it is remotely close to producing then it is well worth it.

Just a note to all, Paladin was the first uranium mine opened in a decade and is now worth nearly 5 Billion dollars. (and I bought/sold at the $3-$4 mark!!! how was I to know it would charge up so much???)

Even if Contact just firm up a JORC complaint resource it will attract reasonable attention - just make sure your portfolio isnt made up of all these types of stocks!!

Good luck to all.
 

you will find that a lot of directors are more than happy to answer investors questions, most of them are very approachable.

after all they (directors) dont know how much money you may be potentially worth to them so a bit of investor relations is always good for a company
 
Just ann farm in agreement with WAG (a reengineered shell that used to be an audio company - now directed by the Steinepreis brothers) in an EPL in WA. Histerical drilling on the EPL produced some interesting essays including returns such as 1.5% U, 2% Cu and 0,6% Zn and traces of Au and Ag. So, there's some mineralisation about, but it's pretty early days on this one.

Another IT/Phone company turning into a U player! Concerning.
 
YOUNG_TRADER said:
No Kenna, Another Ascent Capital restructure turning to Uranium
Click to expand...
Yep, but they could have at least changed the name from WAG Audio to WAG Uranium or something with more cred.

What do you think of the EPL?
 
kennas said:
Yep, but they could have at least changed the name from WAG Audio to WAG Uranium or something with more cred.

What do you think of the EPL?
Click to expand...

Crap! and yet look at the SP go, can't wait for RMG's turn!

Also they will call a meeting now with proposals to enter into farm-in agreement and change name keeping code WAG, probably West Austrlian Gama corp! :
 
kennas said:
Another IT/Phone company turning into a U player! Concerning.
Click to expand...

Why is this concerning?
Look at SRK (used to be tech stock and went as low as 2c) and PKT also.

Just because they werent born a U company, didnt seem to find the sp from going UP.
 
nizar said:
Why is this concerning?
Look at SRK (used to be tech stock and went as low as 2c) and PKT also.

Just because they werent born a U company, didnt seem to find the sp from going UP.
Click to expand...
Perhaps. I have fading memories of minerals explorers being turned into .coms in the 90s....Not all of them survived. Of course, this is different. Perhaps.
 
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