Celsius Resources spikes on back of early exploration results from Opuwo

|

Published 22-MAR-2017 16:42 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Finfeed presents this information for the use of readers in their decision to engage with this product. Please be aware that this is a very high risk product. We stress that this article should only be used as one part of this decision making process. You need to fully inform yourself of all factors and information relating to this product before engaging with it.

Shares in Celsius Resources (ASX:CLA) hit a high of 3.5 cents in the first hour of trading, representing an increase of circa 17% on the previous day’s close of 3 cents.

The spike in the share price which occurred under relatively high volumes coincided with commentary by management regarding the first six drill holes that have been completed at the group’s Opuwo cobalt project in Namibia.

It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

All holes have intersected the Dolostone Ore Formation (DOF), a recognised host of cobalt-copper-zinc mineralisation.

The six holes completed to date have transversed a length of 460 metres, part of a first pass test along a 20 kilometre strike length of the DOF horizon. DOF intersections identified to date range between 9 metres and 22 metres at depths between 25 metres and 80 metres below surface.

While assay results will be required to confirm the mineralised thickness, management said there is a definite correlation between thicknesses intersected in drilling to date with mineralised intersections in the historical drill holes which demonstrated high levels of cobalt mineralisation, as well as copper and zinc.

Adding another dimension to the story was the provisional identification by company consultant, Brendan Borg of cattierite (cobalt sulphide) as the cobalt mineral. He is of the view that the presence of this mineral in drill chips demonstrated the potential of the Opuwo project.

Samples from the first four holes have been submitted for laboratory testing with the results anticipated in approximately three weeks.

tags

COBALT


General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.

 

Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free

X