CDR - Codrus Minerals

[System]

Codrus Minerals Limited was incorporated on 21 July 2014 and is a wholly owned subsidiary of Blackstone Minerals Limited (BSX). Following a strategic review of its assets, BSX decided to demerge its Bull Run Project, Silver Swan South Project, Red Gate Project and Middle Creek Project via the Company.

The Silver Swan South Project, Red Gate Project and Middle Creek Projects are located in Western Australia, and all are located within well endowed mineral fields, and within a short distance of significant operating assets. The Bull Run Project in eastern Oregon is within a historic goldfield that has produced from small high grade mines for over a century with scant modern exploration.

The Company will commence operations by deploying industry leading exploration technology to the targets it has on the Silver Swan South and Red Gate Projects, whilst commencing fieldwork on the early stage Middle Creek project. At the Bull Run Project in Oregon, the Company will commence with an IP survey that will underpin targeting for future drilling.

It is anticipated that CDR will list on the ASX during June 2021.

Codrus Minerals Limited – Focusing on High Impact Critical Metals Exploration

codrusminerals.com.au

 

[Stockbailx]

i see this trade on the small caps IPO's... Codrus is seeking to raise up to $8 million at $0.20 share with 40 million new shares, and with a minimum subscription of $5 million...the spin-off vehicle for Blackstone’s three Australian and one US projects. Existing Blackstone shareholders have received a priority offer.

 

[Dona Ferentes]

Listing date	23 June 2021
Contact details	https://codrusminerals.com.au/ Ph: (08) 9425 5217
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	CDR
Capital to be Raised	$8,000,000
Expected offer close date	3 June 2021
Underwriter	Not underwritten. PAC Partners Securities Pty Ltd and Westar Capital Limited (Joint Lead Managers)

 

[Dona Ferentes]

CDR came to listing Wednesday, at 20c. Trading 20- 22c ... No stag there

 

[greggles]

Hmmm... shocking start after listing over a year ago, but is there some potential here? Market cap of around ~$6 million with $5 million in cash at the end of the last quarter.

 

[Dona Ferentes]

So the game has changed, another company makes a tilt to forward facing something or other.

CDR says assays confirm the potential for the Karloning REE Project in WA’s Wheatbelt to host high-value permanent magnet rare earths dysprosium, neodymium, terbium and praseodymium in xenotime, within a large-scale pegmatite..

The pegmatite system also hosts significant niobium, a critical metal used in the steel industry with applications including wind turbines and high-performance batteries.

Final assays for grab samples have returned outstanding high grades such as 2.85% dysprosium oxide, 6.41% niobium and 18.60% tantalum.

CDR says the large-scale pegmatite system at Karloning is estimated to be up to 1.5km long and up to 200m wide with the company having pegged additional tenure adjacent to the southwestern boundary of the Karloning Joint Venture tenement – which encompasses potential extensions to the pegmatite system.

“The project provides an outstanding opportunity for Codrus to diversify into the critical minerals space and build on its current gold and copper assets by securing exposure to a commodity sector with outstanding fundamentals and a strong growth outlook,” managing director Shannon Bamforth says.

The WA1 niobium-rare earths discovery at West Arunta saw the stock to jump 420% on the day. How did Codrus go?

...up 50% to close at 18c and as high as 24c during the day. But that's only IPO entry money, really.

 

[Dona Ferentes]

The WA1 niobium-rare earths discovery at West Arunta saw the stock to jump 420% on the day. How did Codrus go? ....up 50% to close at 18c and as high as 24c during the day. But that's only IPO entry money..

Rinse, repeat.

Maiden drilling program commences at the niobium-rich Karloning REE Project, WA

2,000m RC drilling program underway at the high-grade Karloning Rare Earth Project, representing the first drilling to focus on the REE and niobium potential in the district.

....and up 40% by the end of the day (aka off lows)

 

[rcw1]

Good evening
No posts since 12/04/23:

What's doing?
Weekly

Quarterly 31 December 2024 (see attached):

• Fieldwork completed at the newly-acquired uranium exploration assets in Canada’s premier mineral provinces. The 100% owned Jasper Wedge Uranium Project lies approximately 45km south-east of the high-grade Cigar Lake uranium mine in the world-class uranium province of the Athabasca Basin, Saskatchewan, Canada;
• The 100% owned Nanuk Uranium Project, in Quebec approximately 125km west of Voisey’s Bay, has seen minimal historical exploration with the highest-grade surface samples returning 5,920ppm U3O8. Review of historical data is now complete, with 5 exploration target areas identified throughout the project area;
• Middle Creek Project is located 10km east of Nullagine in the Pilbara mining district of Western Australia. Rock and soil sampling program completed highlighting gold and silver targets and confirming the prospectivity of six gold geochemical targets that have never been drill tested;
• The Karloning Rare Earth Element Project located in Western Australia’s Wheatbelt. A low-cost air-core drilling (AC) program was partially completed focusing on targets identified during the ground-based moving-loop electromagnetic survey (EM). As previously reported, weather events did not allow for the majority of the AC program to be completed. Due to extreme weather events and limited access during the harvest season, on-ground activities are on hold. Meanwhile, the exploration team is reviewing existing data to plan future drilling activities; and
• At the Red Gate Gold Project in WA the Company’s exploration team continues to review the potential for future drilling based on results from a soil sampling program undertaken across the underexplored portions of the tenement. The Company has engaged a resource consultant to begin a resource estimate at the Red Gate Gold Project, aiming to capitalise on the current gold market

So where does the coin come from to continue the aforementioned activities???

Cash Burn $289K
Quarters of Funding left in the piggy bank - 4.47
No record of any loan facility

Announcements kept to a minimum ha ha ha ha

Not holding

Kind regards
rcw1

Rinse, repeat.

Maiden drilling program commences at the niobium-rich Karloning REE Project, WA

2,000m RC drilling program underway at the high-grade Karloning Rare Earth Project, representing the first drilling to focus on the REE and niobium potential in the district.

....and up 40% by the end of the day (aka off lows)
View attachment 155670

 

[Dona Ferentes]

movement

March Quarterly​

Bull Run Gold Project, USA
• Permitting for the Bull Run Copper-Gold Project in Oregon is nearing completion with the U.S. Forest Service.
• Minor supplementary approvals are currently being processed by the Department of Geology and Mineral Industries.
• The Company is currently refining target generation in preparation for future drilling activities.

Red Gate Gold Project, Australia
• Resource estimate underway to leverage strong gold market conditions.

Middle Creek Gold Project, Australia
• Extensive rock and soil sampling program completed.
• Gold and silver targets highlighted confirming the prospectivity of six gold geochemical targets that have never been drill tested.

Jasper Wedge, Athabasca Basin, Canada
• Phase I exploration completed
• Awaiting improved Uranium market conditions before Phase II exploration commences.

Corporate Update
• Ongoing evaluation and due diligence on resource assets aligned with strategic exploration goals.
• Actively reducing overhead costs and maintaining a strong focus on cash preservation.
• At the end of the Quarter, the Company held approximately A$1 million in cash reserves.
.
and today