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CAE - CANNINDAH RESOURCES LIMITED


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In reply to: mick 2006 on Tuesday 03/07/07 12:29pm

mick

 

You still into QOL? Suprised no one has said anything about this stock for a long time? I have been slowly adding small parcels to build up a healthy position.

 

Mine construction is going ahead nicely and we are quickly heading for a plant commissioning date of June/July.

 

Mining has started and they are already building the Run of Mine ore pad ready for commissioning.

 

I believe stock is cheap and believe it has potential to go to 31c once the mill is up and running. Thats double what the share price is now!!!!

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  • 4 weeks later...

What do you think about the SPP announcement and voting coming up?

Won't everybody's opinion be that with this voting opportunity you have your say to correct or condone this. Either you vote for it and get shafted or vote against it and and something will have to be done by management to correct their un-bias issuing of shares at 12c to all friends and mates with no regard to us as minority long term shareholders. Or do I see it wrong?

Vote on issues one and 2 no and yes on 3. But how do you get the top 20 to support this. http://www.sharescene.com/html/emoticons/thumbdown.gif

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  • 4 months later...

In reply to: crystal on Tuesday 20/05/08 09:59am

Australian 22/9/8

 

Tungsten fears

 

ON the subject of tungsten, it was reported on Thursday that Vancouver-based Golden Predator had shelved plans to develop what would have been only the second tungsten mine in the US since the Pine Creek mine closed in 2000 due to the global financial mess.

 

This will be a blow to the non-Chinese tungsten customers who are anxious to find other sources of the metal. China dominates world production and regards tungsten as a strategic metal, so there are fears it could cut exports at any time.

 

Miner Queensland Ores (QOL) shipped its first tungsten concentrates last week from the Wolfram Creek mine near Cairns -- and it is destined for China.

 

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  • 1 month later...

In reply to: vegemite on Monday 22/09/08 07:28am

Went to the QOL presentation at Mining08 conference

 

Some notes:

 

* tungsten up 37% and moly up 13% due to Aust dollar

* 6.6 million mkt cap, 3.5 million cash so EV approx 3 million

* no debt

* first payment was received on the Thu or Fri (98% of full price)

* some commissioning problems but largely overcome. includes more fines than expected

(but this reduces as get deeper) and they are putting in mechanisms to deal with this.

* currently running at 3/4 capacity but expects it to be full capacity either 1Q or 2Q 09

* 4 year mine life but expect 20 (? could be mistaken on this figure as my notes are hard to read)

* 9 million/pa cash flow expected (higher with weaker dollar)

 

So overall everything looks to be travelling pretty well, and I'd expect share price should respond once cash flows are demonstrated. Sounds like it should be on a PE of approx 1 so a bit of upside potential you would think,

 

Cheers, V

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  • 10 months later...
  • 12 years later...

On 03 December 2014, Planet Metals Limited (PMQ) changed its name and ASX code to Cannindah Resources Limited (CAE).

Now this is the ultimate definition of delayed gratification. For the best part of a decade it has been traveling along the bottom, 5 cents up and down. I am sure there has been a capital raise (or two) and a redirection of purpose along the way. It is a minnow miner, after all.

And early March 2021, it woke up. First surge came in March when it reported that recent selected rock chip sampling at the Piccadilly Mining Lease has returned some high grade gold results .... and then settled down. 

Late March 2021, the company reported that its Mt Cannindah Project has current estimated resources of approximately 90,000 tonnes of copper, 60,000 ounces of gold and over 2.5 million ounces of silver. ..... and it settled down.

Aug 2021  ... gold in all 51 test holes. Still around 7c

late Sept 2021 .... Mt Cannindah assay results very positive. above 10c.

and by Nov, good results from drillholes, Up and down and up again (28c to 62c to 18c to 26c). .... It is only an incomplete picture, but the hot money seems to have though it is worth a ramp or two.

 

 

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