CXO - Core Lithium

[System]

Core Exploration Ltd. (CXO) was incorporated on 10 September 2010 with the aim of growing shareholder value through the exploration for and discovery of commercially robust copper and uranium deposits in South Australia and the Northern Territory.

The Company holds projects comprising nine tenements covering over 2,000 km² in the highly prospective Gawler Craton and Curnamona Craton of South Australia and Amadeus Basin in the Northern Territory.

http://www.coreexploration.com.au

 

[springhill]

MC - $2.7m
SP - 9c
Shares - 30m
Options - NQ
Cash - $2.2m

CXO have a couple of copper drill targets in the future that may be well worth keeping an eye out for. Cash position is lower than I would like it, but with the miniscule amount of shares on issue, a post cap raise could be a good point of entry depending on the terms.

Ground magnetics identify exciting new targets at Fitton Project S.A.
• New magnetic targets of similar magnetic response to the promising Scott Lee prospect found at Fitton
• Previous Scott Lee surface sampling of outcrop assayed up to 10.5% copper and 0.34% U3O8
• Follow-up mapping and outcrop sampling of new magnetic targets is underway
• First Fitton project drilling program planned later in 2012

Copper found in outcrop of new magnetic targets, Fitton Project S.A.
● Copper mineralisation found in outcrop of new magnetic targets found at Fitton project in South Australia
● Previous sampling of outcrop at the nearby Scott Lee prospect have significant levels of copper and uranium
● Assays of current sampling are expected by the end of August
● First Fitton project drilling program planned for late in 2012

4% copper found in outcrop at new Choppy Prospect Fitton Project, northern S.A.
● Copper mineralisation grading up to 4% Cu has been found in outcrop of the new magnetic targets identified at the Fitton project in South Australia
● Scale of copper, uranium and gold potential is building at Fitton
● First Fitton project drilling program planned for late in 2012

Further back, from 8th June 2012
High grade uranium and copper in outcrop at the Scott Lee Prospect Fitton Project, South Australia
• 3,370 ppm U3O8 (0.34% U3O8) assayed from outcrop sample at Fitton Project in S.A.
• High uranium sample located 200m from new copper sample grading +5%
• Uranium levels sampled above 100ppm for over 800m
• 0.37 g/t gold was also identified on the western end of the same prospect.
• Drilling is planned for August/September 2012

 

[Vader]

So these guys have been a bit active in the last week or so, with some promising market releases coming out which pushed shares up to 11c at the end of last week before faltering back to around 8c late in the day... I picked up a few shares as a speccy a couple of days ago at 7.7c and now today they've jumped back up to 9c on no news.

Still only 48m shares on issue.

...waiting to see what news comes out over the next couple of weeks, with a bit of luck this might start to get interesting opcorn:

 

[pixel]

Long time in the dumps and no poster showing an interest.
CXO does look rather new now, and with the U card drawing some support across the sector, it could make the 10c+ after all.

I'm buying on spec, but DYOR and FYOP.

 

[PZ.]

One of my best stocks at the moment. Approaching end of wet season and the much anticipated Zola and Ringwood approvals.

 

[Gmet]

Afternoon Everyone,
Anyone have any thoughts on the state of CXO
Price seems to be leveled lately
Insight from all would be appreciated
Cheers

 

[PZ.]

Afternoon Everyone,
Anyone have any thoughts on the state of CXO
Price seems to be leveled lately
Insight from all would be appreciated
Cheers

In my biased view as a holder view it's undervalued

They have a program in 2017 of what they call "aggressive drilling" in the N.T. plus they are well funded after their cap raise last year. There is also a tax offset of exploration credits for holders with shares held on the 24th of this month.

 

[Gmet]

In my biased view as a holder view it's undervalued

They have a program in 2017 of what they call "aggressive drilling" in the N.T. plus they are well funded after their cap raise last year. There is also a tax offset of exploration credits for holders with shares held on the 24th of this month.

I am also a holder and I am of the same opinion
I dont fully understand about the Tax offset for the Exploration
Every time the price has a rise it is quick to withdraw
Just a thought

 

[PZ.]

It's basically a zero dividend with franking credits; in this case it's 0.0848 cents per share.
So if you hold a million shares it's an $848.00 tax credit.

https://www.ato.gov.au/business/exploration-development-incentive/

I'm not worried about the price swaying from 7c to 8c or whatever. It's in the bottom drawer until it passes 10c

 

[Gmet]

Yep my plan to and beyond

 

[PZ.]

CXO shareholders are getting more EDI credits for this year.

Around 0.15 cents per share

 

[PZ.]

So this stock has plummeted to sub 5's over the last month for no apparent reason other than to disembowel my wallet with a serrated knife

All hinges on the PFS for development of Grants which is due in a few weeks.

Their last ann has a drilling program covering 40,000m from four rigs.

Last two anns:
http://coreexploration.com.au/user_...n_and_Lithium_Resource_Drilling_Commences.pdf

http://coreexploration.com.au/user_files/reports/Maiden_Resource_Estimate_at_BP33.pdf

I'll tip this for the next comp but it's really a long term hold sentiment

 

[PZ.]

A shameless plug

The company hoping to mine lithium on the outskirts of Darwin has released its pre-feasibility study, saying the project has "strong economics".

Managing director of Core Exploration, Stephen Biggins, said the company was excited about its future in the Northern Territory and was aiming to start mining next year.

http://www.abc.net.au/radio/program...-feasibility-study-for-darwin-lithium/9911444

 

[PZ.]

More on the above...

 

[PZ.]

Mates rates for LTR one suspects. Could take off from here.

http://www.resourcesrisingstars.com.au/sites/default/files/LTR_071117.pdf

 

[greggles]

Mates rates for LTR one suspects. Could take off from here.

Nice gap up today. It looks like it's ready to take on resistance at 6c. Volume has exploded over the last week.

Good announcement this morning.

 

[PZ.]

Latest ramp update

• Core’s high grade Grants Lithium Resource has been upgraded, adding 42%
more tonnes to the inventory at the high-grade of 1.5% Li2O
• Two-thirds of the Grants Lithium Resource is now classified as Measured or
Indicated
• Finniss Project Lithium Resource now stands at 4.3 Mt at 1.4% Li2O
• Considerable scope remains to further increase the mining inventory given
the many additional lithium-rich pegmatites identified within Core’s large
>400km² of tenure at Finniss
• Resources for the nearby BP33 deposit being updated currently, with a new
estimate expected to be reported later this quarter
• The additional mining inventory defined is expected to result in a longer
mine life at the Finniss Project, and further enhance the robust economics
• Recent Grants resource drilling results show consistent grade and geological
character and include: 48m @ 1.59% Li2O from 224m (FRC179)
• The Finniss project Definitive Feasibility Study (DFS) remains on track for
completion in late November 2018
• DFS focussed on mining and production of high-grade lithium concentrate
near Darwin, with development planned to commence in 2019

http://www.aspecthuntley.com.au/doc...lc2lnbmFsL2Vycm9ycGFnZXMvcGRmZGVsYXllZC5qc3A=


+ ABC Article on operations...

Lithium mine on Darwin's doorstep set to start production next year

https://www.abc.net.au/news/rural/2018-10-17/darwin-lithium-mine-set-to-start-next-year/10377296

 

[System]

On November 14th, 2018, Core Exploration Limited changed its name to Core Lithium Limited.

 

[mazewolf]

https://investorinsight.com.au/home/core-releases-assay-results-from-lees-booths-link-hang-gong

 

[mazewolf]

For CXO, even though the SP doesn't reflect it, it has Ibeen a good year, with accomplishments such as:

* Increasing total resource by nearly 400%, from 1.8MT to 7.1MT, including:
- a 60% increase in Grants from 1.8MT to 2.89MT
- 2.15MT at BP33
- 1.30MT at Sandras
- 0.79MT at Carlton

*release of PFS showing great project economics
* Non-binding (soon to be binding) agreement with Ruifu for offtake and US$35mil prepayment facility
* Improved recoveries and grade from metallurgical testwork
*Discovery of additional and soon to be maiden resources at Hang Gong and Lees-Booths
*Drilling of multiple new targets down south in Bynoe area
*Release of Environmental Impact Statement
*Further investment by Yahua and investment by Ruifu making them the 1st and 2nd largest holders

worth a closer look imo