CUL - Cullen Resources

[enigmatic]

Matsa resources Killaloe Project Farm in Agreement
not to sure if this is good or bad for Cullen, i guess if Matsa find something it will help Cullen grow however if they find something it means that cullen have lost a good prospect, i guess when your small you have to farm out your less prospective projects hoping that someone else can use there money to find something for you.

 

[springhill]

One of Young Traders old favourites, if I remember correctly.

GRAPHITE PROSPECTS IN FINLAND
Cullen has applied for ground over six known graphite prospects a number of which include airborne EM anomalies and some very significant reported historical drill intersections, such as:7.6m @ 34.8% C and 99.55m @ 12.1% C for further investigation.
Cullen has now lodged three Ore Prospecting Licence applications (Exploration Licence equivalents) and four Claim Reservation applications over six graphite prospects in the name of its wholly-owned, Finnish-registered subsidiary company.

The major strategic advantages of Cullen’s Finnish graphite portfolio are:
•Location in a first world country with very good infrastructure and a well-educated and trained workforce;
•Existing, accessible data and drill core material that will allow rapid evaluation and determination of potential;
•Proximity to potential graphite markets in Europe; and,
•Advanced prospects with indications of potential multi-million tonne Exploration Targets1 of fine to flake-size graphite from work completed to date.


Redefined Targets from downhole EM surveying -North Tuckabianna Project
A short, initial, seven-hole, reconnaissance Reverse Circulation (RC) drilling programme (~1000m) completed to test three strong VTEM conductors identified by Cullen’s helicopter-borne geophysical survey over the Eelya Felsic Complex did not return any significant assays. Subsequently, downhole EM surveying was completed at all three VTEM anomalies. The positions of the conductor plates have been redefined by these surveys, and show that the conductive targets have been narrowly missed by this initial drilling which, therefore, has not been adequately tested. Drilling of the redefined targets from the downhole EM surveys is planned.

Drilling programme commenced –Minter Tungsten Project, New South Wales
A combined RCP(reverse circulation percussion)/diamond drilling programme (~800m in total) is underway to test geochemical and geological targets at the Doyenwae and Orr Trig prospects within the Minter tungsten project, located approximately 50km north west of West Wyalong in central New South Wales. It includes shallow RCP drilling of soil and rock-chip tungsten geochemical anomalies at both prospects. In addition, a deep RCP/diamond drill hole to 250-300m is planned at each of the Doyenwae and Orr Trig prospects with a view to testing for tungsten mineralisation at and/or proximal to inferred mineralising intrusives.
At Doyenwae, Cullen has previously discovered significant shallow tungsten in the form of ferberite (FeWO4) with associated goethite and limonite in aircore percussion drilling. Best intersections of 8m @ 0.38% WO3 from 22m in DAC3 and 24m @ 0.32% WO3 from 4m in DAC6 were obtained.

 

[prawn_86]

Looks like another just trying to jump on the graphite bandwagon. If even a quarter of these co's got to development then the graphite market would be absolutely flooded!

 

[finicky]

Noticed that this one was up 25% today. Massive positive monthly volume has been coming in lately, chart looks prospective.
Know next to nothing about it, might check it out, apparently has an ore mining royalty or two as well as some gold prospects?

CUL Decade Monthly

 

[greggles]

Cullen Resources has raised $1,480,000 (before costs) from sophisticated and professional investors via the placement of 74,000,000 new FPO shares in the Company for 2c per share. Funds raised will be used to "advance exploration at the Wongan Hills (targeting gold and base metals) and Barlee (gold) projects, and for project generation and working capital purposes."

Market cap under $10 million. Three projects located in WA being advanced with Wogan Hills looking the most promising. An interesting Investor Presentation was released on 22 March with more detailed information about the projects. Worth a read for those interested.

It is worth noting that today's news has pushed up the CUL share price to a high of 2.9c (currently 2.7c), well above the placement issue price. Retail investors are complaining that they didn't get a shot at the placement. This could be a strategic play by management to only raise what they need now with the intention of raising more down the track once the share price is higher. If so, this is responsible capital management and a confident strategic move by the company.

 

[greggles]

CUL showing signs of accumulation during April. Nice move up today.

Perth Capital Pty Ltd and associates disposed of more than 13 million shares this month but acquired 5 million due to participation in the recent share placement.

More demand than supply at the moment and sell side starting to thin out.

 

[Faramir]

I may as well pick CUL for May tipping comp.

Here is 4C Cashflow:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02368537-6A1030454?access_token=83ff96335c2d45a094df02a206a39ff4

$264,000 used in operations.

Here is 4C Activities:

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02368533-6A1030452?access_token=83ff96335c2d45a094df02a206a39ff4

copper, Zinc, Silver and Gold.

I worked out that they mine in WA. I barely understood the Quarter report but it doesn’t matter. I am tipping CUL and I am hoping for the best. At least CUL is above 1c.

Thanks @greggles for posting the chart.