CXU - Cauldron Energy

[explod]

Have noticed this off a watch list of energy stocks, rose today on volume. Could not find a thread but felt it worth consideration. Business summary as follows:

Cauldron Energy Limited (CXU, formerly Scimitar Resources Limited) is a uranium exploration company with projects in Australia and Argentina.
Yanrey Uranium Project:
The project is located in Western Australia and covers Mesozoic sediments that are highly prospective for sandstone hosted roll front uranium mineralisation, similar to that at the adjacent Manyingee Uranium Deposit held by Paladin Resources. The company's eight granted exploration licences cover 2,307sqkm, including 220sqkm in JV with Barrick Gold Corp and 440sqkm in JV with Atomic Resources, covering a 70km long redox front.
Marree Project:
The company has entered into a farm-in and jv agreement to explore the Marree uranium project in South Australia with a Korean consortium including government owned Korea Resources Corporation. The project is 550km north of Adelaide and comprises four exploration licences (EL3389, 3390, 3510 and 3557) covering 2,575sqkm in the Eromanga Basin adjacent to the uranium-rich Mount Babbage Inlier. The project area includes the Tertiary Eyre and Namba Formations, hosts to several sedimentary roll-front uranium occurrences including the Beverley and Honeymoon Well uranium deposits and the recently discovered high grade uranium mineralisation at Beverley Four Mile.
Rio Colorado Project, Argentina:
Rio Colorado is a substantial deposit outcropping for 16km and containing numerous small scale workings (adits and glory-holes) completed by the Argentinean Atomic Energy Commission in the 1950's and 1960's.
Las Marias Uranium Project, Argentina:
As testament to the potential of this project, a 7 km unit of outcropping uranium rich sandstones, including visible uranium oxide minerals, has been identified using handheld geophysical equipment. This project is currently under application, with the first exploration lease expected to be granted early in the New Year.
Other Projects:
Projects include: Lake Frome Project; Amadeus Project; and Eclipse Project.

Wondering if anyone has more on this one.

cheers explod

 

[toocool]

Its been a while since anyone commented on this one, popped up one a scan a few days ago.

Its at an interesting point, I took a little parcel on the break of .20

see how we go. chart attached

 

[Swervin Mervin]

Took a few of this unloved stock at 1.7c. See if can hold this for a few years

 

[houtman]

My pick for the October comp.

Why?
Positives
- Uranium- so hot right now.
- 1.3c share price should appeal to those that don’t look at mcap.
- mcap of <13m should appeal to those that do look at mcap.

And just for balance
Negatives
- cash balance low
- still using CHN as a nearology chip with their Ni play.
- uranium mining ban in W.A.

Buyer beware

 

[frugal.rock]

Was one I was considering also, but hadn't looked at it yet. Hope it goes well for you.

 

[frugal.rock]

Eeek, double top?

 

[Dona Ferentes]

CXU was on the slide for the last 6 months, from >5c to as low as 1.3c. Announcement last week saw a bit of of interest and moves up to 2.2c

YANREY URANIUM PROJECT​

BROAD, HIGH-GRADE URANIUM MINERALISATION IN FIRST FOUR HOLES AT MANYINGEE SOUTH CONFIRM SIGNIFICANT DISCOVERY

Highlights
• Cauldron’s Manyingee South prospect (Target 15) lies 4.5kms south of Paladin’s (ASX: PDN) Manyingee Deposit, a globally significant ISR uranium deposit.
• Each of the first four holes drilled at the Manyingee South target have intersected mineralisation; defining a thick, high-grade mineralisation along a continuous 1.5km strike length, open in all directions.
• Further drilling is occurring to test extensions of the identified mineralisation.
• Drill hole logging at Manyingee South indicates that the stratigraphic units show strong similarities to Paladin’s adjacent Manyingee Deposit with uranium mineralisation interpreted to lie in a palaeochannel parallel to the Manyingee deposit channel.
• Mineralisation is developed at prominent stacked redox boundaries and is interpreted to be “roll-front-type” uranium mineralisation similar to that reported at Manyingee.
• Drilling intersected several discrete zones of uranium mineralisation....
• Cauldron’s Yanrey Uranium Project covers more than 80 kms length of ancient, Cretaceous-age sedimentary coastline, host to multiple prospective paleochannel systems sourced by uranium-bearing granitoid uplands to the east and stretching from the Carley Bore Uranium Deposit in the south to the Spinifex Well Uranium prospect in the north.
• Historical exploration work has primarily focused on three of these uranium-bearing palaeochannel systems, viz. Bennet Well, Manyingee, and Carley Bore.
• Several additional prospective palaeochannel systems are yet to be effectively tested, including the Manyingee South channel. All up, historical work has identified a further 15+ palaeochannels for immediate testing.
• With the largest tenement holding in the region, Cauldron is well placed to explore for, and identify further uranium deposits as it targets prospective palaeochannel system

 

[frugal.rock]

Looks interesting on the chart.