CLY, CLANCY EXPLORATION LIMITED

[blacksheep]

In Reply To: blacksheep's post @ Aug 9 2019, 04:02 PM

Note - CLY has had a recent name change to Sagon Resources Limited (ASX:SG1)

Released a "Globally Significant" maiden JORC resources of 13 million tonnes at 1.13% TREO" yesterday, which included a Peer Comparison. Trouble was SG1's JORC was based on INFERRED - i.e. low level of confidence - whilst it's Peers a much higher level of confidence with Indicated and Measured categories- some already mining.

In addition, the ann included a reference

- Sagon is now ranked in the Top-5 Australian rare earths projects on the ASX;

And, to top it off, SG1 confirms they have not completed any exploration since the acquisition of the project - just a month ago in September 2019 - rather the JORC is based on....

• compiling and reviewing previous drilling results generated by Kimberley Rare Earths and Navigator Resources;
• validation of raw data, including QA/QC;
• a review of resource work done by previous resource consultants; and
• interrogation of the drill database including preparation of geologically interpreted cross sections for comparison with previous work.

Resource consultants, Auralia, validated the resource database and prepared the Mineral Resource
estimate in accordance with JORC 2012. On the basis of the above work, the Mineral Resource
estimate prepared by Sagon has allowed the inclusion of additional material previously interpreted
to be below the top of fresh rock and excluded on this basis. Sagon’s geological and potential
economic interpretation of this material differs from previous operators.

A retraction/clarification has since been made, not before the SP hit a high of 8.1c

This morning an ann advising a placement to a "leading Australian institutional investor" raised $1.25 mil. The issue price was 6c and Patersons Securities Limited acted as Lead Manager to the Placement[.

SP naturally down this morning - currently 6.1c

Attached thumbnail(s)

 

[blacksheep]

In Reply To: blacksheep's post @ Nov 26 2018, 08:23 PM

Rare Earths back in favour. SP up 155% @ 5.1c - volume 5.2mil

ACQUISITION OF OPTION TO ACQUIRE 100% OF CUMMINS RANGE RARE EARTHS PROJECT
CUMMINS RANGE HIGHLIGHTS

• Located in the Tier 1 rare earths mining jurisdiction of Western Australia
• Potential for high Neodymium and Praseodymium (NdPr) enrichment
• NdPr are two critical rare earth elements integral to the manufacture of electric vehicles,
wind turbines and military hardware
• Superior geology and mineralogy being a weathered carbonatite (same as Lynas
Corporation’s Mt Weld) with mineralisation commencing from surface
• No active exploration since 2011 with indications that the mineralisation is open at depth
and along strike
• High-impact drill program to commence in 2019
• Strategy to supply rare earth concentrate to existing downstream refiners to take
advantage of forecast increases in rare earth prices from 2020
• Acquisition fully funded by existing cash reserves and share placement of $1.15 million

Acquisition Details
The material terms of the agreement between Clancy and RareX are summarised below:
• Clancy has paid RareX a non-refundable deposit of $25,000 in consideration for a 14-day
exclusivity period during which Clancy will complete its due diligence investigations.
• Completion of the acquisition is conditional on the following key conditions precedent:
- Satisfactory completion of due diligence by Clancy;
- Clancy receiving confirmation from ASX that it will not apply listing rule 11.1.3 to the
acquisition;
- The receipt of Clancy shareholder approval for the issue of the “Consideration Shares”
(described below); and
- The execution of an employment agreement between Jeremy Robinson, the founder of
RareX, and Clancy, pursuant to which Mr Robinson will be engaged as an Executive
Director of Clancy with effect from completion of the acquisition.
These conditions are to be satisfied by no later than 13 September 2019 (unless mutually
extended).
• Subject to the satisfaction of the conditions, on completion, Clancy will issue the vendors
of RareX 60 million shares (on a post-consolidated basis) (“Consideration Shares”).
Smelter Return Royalty on
future production from the Cummins Range project capped at $1,000,000.

Jeremy Robinson -Executive Director at RareX Pty Ltd https://au.linkedin.com/in/jeremy-robinson-6b42a153

[blacksheep]

In Reply To: blacksheep's post @ Apr 10 2018, 09:30 PM

Tweet from Cranston December last year when he resigned from CLY Board https://twitter.com/EvanCranston/status/936557706743242752

Lots of chat re me leaving $PGO $CLY boards. Not selling any shares. Both cracking assets & in capable hands! Happy supportive shareholder 🤣

At 18 October 2017 he/Kingslane held 124 mil shares - 2018 AR shows he held 74.3 mil shares.
Tolga Kumova's Sisu held 100 mil shares in 2017 - 2018 shows he is no longer on the top 20
Both Cranston & Kumova held 100 mil options in 2017 - nil in 2018

TOP 20 CLY SHAREHOLDERS (as at 18 October 2017)
No. of shares % of Total
1 HAMMERHEAD HLDGS PL HHH S/F A/C 184,557,359 6.80%
2 BLU BONE PL 171,822,992 6.33%
3 TROCA ENTPS PL COULSON SUPER A/C 157,797,774 5.81%
4 OCEAN VIEW WA PL 145,000,000 5.34%
5 KINGSLANE PL CRANSTON SUPER A/C 124,000,000 4.57%
6 OCHRE GROUP HOLDINGS LIMITED 113,500,000 4.18%
7 FLUE HLDGS PL 106,537,994 3.93%
8 SISU INTERNATIONAL PL 100,000,000 3.68%
9 SMIT, ANTONIUS JOSEPH 94,418,153 3.48%
10 BAHEN, MARK JOHN + M P SUPER ACCOUNT 82,734,415 3.05%
11 KOBIA HLDGS PL 79,793,245 2.94%
12 MOTTE & BAILEY PL BAILEY S/F A/C 79,701,144 2.94%
13 MOTTE & BAILEY PL BAILEY S/F A/C 78,929,535 2.91%
14 NATIONAL NOM LTD 62,000,000 2.28%
15 SASSEY PL AVAGO S/F A/C 59,011,950 2.17%
16 TALEX INV PL 45,000,000 1.66%
17 RICHSHAM NOM PL 40,000,000 1.47%
18 SOBOL CAP PL 39,991,000 1.47%
19 TANA, BENJAMIN VITTORIO 39,539,156 1.46%
20 RECO HOLDINGS PL RECO S/F A/C 24,077,500 0.89%
TOP 20 TOTAL 1,828,412,217 67.36%

The following information is based on share registry information processed up to 30 October 2018.
Twenty Largest Holders of Fully Paid Ordinary Shares
Name Number of Shares %
Troca Enterprises Pty Ltd <Coulson Super A/C> 157,797,774 4.50
Hammerhead Holdings Pty Ltd <HHH S/F A/C> 150,000,000 4.28
Cadence Minerals PLC 140,000,000 4.00
Blu Bone Pty Ltd 130,500,100 3.72
Mr Robert Andrew Jewson 124,000,000 3.54
Citicorp Nominees Pty Limited 121,699,029 3.47
Ocean View WA Pty Ltd 120,000,000 3.42
Motte & Bailey Pty Ltd <Bailey Super Fund A/C> 113,929,535 3.25
Kobia Holdings Pty Ltd 108,666,667 3.10
Mr Antonius Joseph Smit 106,084,820 3.03
National Nominees Limited 100,000,000 2.85
Mr Stephen James Dobson 86,666,667 2.47
Mr Mark John Bahen & Mrs Margaret Patricia Bahen <Superannuation A/C> 82734,415 2.36
Motte & Bailey Pty Ltd <Bailey Super Fund A/C> 79,701,144 2.27
Kingslane Pty Ltd <Cranston Super Fund A/C> 74,307,229 2.12
Flue Holdings Pty Ltd 65,000,000 1.85
Mr Bakr Khudeira 60,000,000 1.71
Mr Paul Joseph Coombe 53,604,312 1.53
Walani Pty Ltd 50,000,000 1.43
Sassey Pty Ltd <Avago Super Fund A/C> 50,000,00 1.43
TOTAL 1,974,691,692 56.35

Attached thumbnail(s)

 

[blacksheep]

Bound to see some SP action tomorrow when the voluntary suspension is lifted following the Federal Court decision released after the market closed. As with most of these so called exciting stories, care needs to be taken = nearology works out some of the time, but not always. Bound to be pumped for all it's worth

Social media/HC on the boil. https://twitter.com/search?q=%24CLY&src=ctag

The man with the midas touch (Tolga Kumova, SISU INTERNATIONAL PL, and his partner Evan Cranston, KINGSLANE PL) were listed in the top 20 as at 18 October 2017 - don't know if they still hold.

Earlier today CLY made the announcement they had secured key cobalt licences located immediately to the west and adjacent to Managem Group’s Bou Azzer Cobalt Mine in Morocco, through the staged acquisition of Atlas Managem S.A.R.L

Always interesting the number of private companies involved in these deals - Cocam Pty Ltd (seems to be registered in Subiaco WA), Contacio Pty Ltd also registered in WA - seems to be a "surfing" outfit, if this is the right company - Contacio Pty Ltd - YouTube https://www.youtube.com/channel/UCQjendICFgtWtnTBUj-bVuA WA Based business based on everything surf! Boardriders. If it is the same company, what do they know about cobalt? Need to do some more research

Transaction Summary
Atlas is the owner of research permit no. 23408 79 ("Atlas Permit") and has an exclusive option to acquire
100% of the issued capital of Chater S.A.RL. ("Chater") ("Chater Option"), which holds exploration licences
2338804 and 2339405 ("Chater Licences") (together with the Atlas Permit, the "Licences"). Atlas intends to
exercise its right to acquire Chater, in order for Atlas to hold all 3 Licences.

Cocam Pty Ltd ("Cocam"), an unrelated party to Clancy, holds an exclusive option to acquire Atlas. Clancy has
entered into a share sale agreement to acquire 100% of the issued capital of Cocam and thereby an indirect
interest to acquire Atlas (“Cocam Acquisition”).

In consideration for an exclusivity fee of $25,000, Atlas has granted Clancy a 60 day exclusivity period, from
the execution of the Sale Agreement, to conduct due diligence on Atlas, Chater and the Licences.

In consideration for the Acquisition and Cocam Acquisition, Clancy agrees to issue to the vendors of Atlas and
Cocam in aggregate, fully paid ordinary Shares in Clancy ("Clancy Shares") and cash consideration as follows:

• ("Stage 1"): US$175,000 and 130 million Clancy Shares within 95 days from the date of execution of
the Sale Agreement in consideration for an interest in Atlas of 20%;
• ("Stage 2"): US$200,000 and 120 million Clancy Shares within 6 months and 5 days from the
completion of Stage 1, in consideration for a further interest in Atlas of 20%;
• ("Stage 3"): US$200,000 and 120 million Clancy Shares within 6 months and 5 days from the
completion of Stage 2, in consideration for a further interest in Atlas of 20%;
• ("Stage 4"): US$200,000 and 120 million Clancy Shares within 6 months and 5 days from the
completion of Stage 3, in consideration for a further interest in Atlas of 20%; and
• ("Stage 5"): US$200,000 and 120 million Clancy Shares within 6 months and 5 days from the
completion of Stage 4, in consideration for a further interest in Atlas of 20%, such that Clancy (or a
subsidiary of Clancy) will have acquired or been issued a 100% interest in the share capital of Atlas at
the completion of Stage 5.

Clancy has the right to accelerate any of the above payments. Clancy will also issue (subject to shareholder
approval), 10 million options with an exercise price of $0.005 and an expiry date of 2 years from the date of
issue to Contacio Pty Ltd (an unrelated party of Clancy) for facilitating the Acquisition.

The Acquisition is subject to a number of conditions, including due diligence on Atlas, Chater and the Licences
(each to the satisfaction of Clancy), Atlas exercising the Chater Option and acquiring 100% of Chater, and
Clancy obtaining the requisite shareholder approvals (as set out below).

[crystal]

positive reaction to the austock valuation

took out old high,watching






mick

[RADIO]

Recent ShareScene.com Radio Broadcast (04/06/2008 13:00:00):
CLY - Annual General Meeting Presentation - Mr Gordon Barnes, Exploration Manager

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
-------------------------------------------------------------------------------------------------------------
ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
-------------------------------------------------------------------------------------------------------------

[jaded]

Could be one for the next few months.
Not many shares on issue

[ShareScene.com]

Created by request:
CLANCY EXPLORATION LIMITED (CLY)

Thankyou
ShareScene.com