Australian (ASX) Stock Market Forum

CNR - Cannon Resources

Joined
27 June 2010
Posts
3,767
Reactions
186
Cannon Resources is a mineral exploration company, established to implement the demerger currently being undertaken by Rox Resources Limited (RXL) for the purpose of maximising the value of the Fisher East Nickel Project and the Collurabbie Nickel Project.

Fisher East Project

The Fisher East Project is located approximately 430km north of Kalgoorlie and includes eleven granted exploration licences in the North-eastern Goldfields region of Western Australia. Historical exploration at the project has focussed on three nickel deposits, being Camelwood, Cannonball and Musket where a combined Mineral Resource estimate of 4.2Mt at 1.9% nickel has been estimated. The Fisher East Project also hosts significant additional nickel exploration targets at multiple prospects on the basal contact of the greenstone belt, with mineralisation identified to date consisting of massive, matrix and disseminated nickel sulphides. These additional targets include the partly drilled Sabre prospect where an exploration target has been defined based on wide spaced drilling and geophysical surveys. Planned exploration activity will focus on the drilling out of these exciting opportunities.

Collurabbie Project

The Collurabbie Project is located approximately 65km to the east of the Fisher East Project and consists of three granted exploration licences. Previous exploration has resulted in a JORC 2012 intrusive nickel copper cobalt PGE Mineral Resource estimate of 0.573Mt at 1.63% Nickel; 1.19% Copper; 0.082% Cobalt; 1.49g/t Palladium and 0.85g/t Platinum. The Collurabbie Project presents considerable potential for additional intrusion related base metal mineralisation along with exploration potential for gold.

It is anticipated that CNR will list on the ASX during August 2021.

 

Dona Ferentes

NEMO SIBI NASCITVR
Joined
11 January 2016
Posts
8,121
Reactions
9,303
Listing date12 August 2021 12:00PM AEST ##
Contact detailshttps://www.cannonres.com.au
Ph: +61 8 9226 0044
Principal ActivitiesMineral exploration and development
GICS industry groupTBA
Issue Price$0.20
Issue TypeOrdinary Fully Paid Shares
Security codeCNR
Capital to be Raised$6,000,000
Expected offer close date02 July 2021
UnderwriterNot underwritten. Canaccord Genuity (Australia) Limited and Taylor Collison Limited (Joint Lead Managers)
 

Dona Ferentes

NEMO SIBI NASCITVR
Joined
11 January 2016
Posts
8,121
Reactions
9,303
and Cannon Resources listed today, managing a small stag profit for some.


CNR opened at 25c, ran quickly to 31c and settling back to 27c a share.
 

Dona Ferentes

NEMO SIBI NASCITVR
Joined
11 January 2016
Posts
8,121
Reactions
9,303
Probably regret this but bought some at the high today @49c. See if it can climb again tomorrow
It can climb ... but first it has to plumb the depths. Never got below 40c and closed at 43c today

........ Yesterday was so much more volume; I suspect the crowd has moved on.

First Drill Results Extend Nickel Mineralisation at Musket

Highlights
• First 3 diamond holes from the Fisher East Nickel Project have intersected:
o 14.94m @ 1.90% nickel from 366.15m in hole MFED083
o 4.94m @ 1.79% nickel from 559.77m in hole MFED084
o 5.81m @ 2.29% nickel from 584.35m in hole MFED088


• Mineralisation at Musket extended down dip by 100 metres
 
Joined
13 January 2010
Posts
139
Reactions
103
It can climb ... but first it has to plumb the depths. Never got below 40c and closed at 43c today

........ Yesterday was so much more volume; I suspect the crowd has moved on.

First Drill Results Extend Nickel Mineralisation at Musket

Highlights
• First 3 diamond holes from the Fisher East Nickel Project have intersected:
o 14.94m @ 1.90% nickel from 366.15m in hole MFED083
o 4.94m @ 1.79% nickel from 559.77m in hole MFED084
o 5.81m @ 2.29% nickel from 584.35m in hole MFED088


• Mineralisation at Musket extended down dip by 100 metres
Looking to have settled nicely after plumbing yesterday. Could give 50c another look today
 
Joined
13 January 2010
Posts
139
Reactions
103
It can climb ... but first it has to plumb the depths. Never got below 40c and closed at 43c today

........ Yesterday was so much more volume; I suspect the crowd has moved on.

First Drill Results Extend Nickel Mineralisation at Musket

Highlights
• First 3 diamond holes from the Fisher East Nickel Project have intersected:
o 14.94m @ 1.90% nickel from 366.15m in hole MFED083
o 4.94m @ 1.79% nickel from 559.77m in hole MFED084
o 5.81m @ 2.29% nickel from 584.35m in hole MFED088


• Mineralisation at Musket extended down dip by 100 metres
Had another plumb today, might be ready again?
 

greggles

I'll be back!
Joined
28 July 2004
Posts
3,971
Reactions
3,453
This has been a great little performer since listing. Issue price: 20c. Current price: 65.5c. Tightly held and very capable management who have moved quickly with the Fisher East Project. Some great assay results have been returned and I am optimistic that we will see more of the same in the months to come.
 
Joined
13 January 2010
Posts
139
Reactions
103
This has been a great little performer since listing. Issue price: 20c. Current price: 65.5c. Tightly held and very capable management who have moved quickly with the Fisher East Project. Some great assay results have been returned and I am optimistic that we will see more of the same in the months to come.
Well overdue for some more results mate! Holding up well considering the specs are getting belted. Closed at 58.5 today
 
Joined
3 May 2019
Posts
4,514
Reactions
6,442
Can't see any more assays outstanding (from a quick sqiz), however further drilling expected to start March I believe.
With the price of nickel going well, this could get interesting.
Placement of $4mill last quarter ($0.40) and decent cash levels at end of quarter.

Screenshot_20220218-231013.png
 
Top