MTL - Mantle Minerals

[Sean K]

Was watching this today and wondering WTF. Leaky ship, surely. Those drill holes must have been dusters. I thought 'by end of Oct' was extremely ambitious with 4-6 weeks the turnaround time just about everywhere. Please explain to be issued tonight most probably.

 

[frugal.rock]

Was watching this today and wondering WTF. Leaky ship, surely. Those drill holes must have been dusters. I thought 'by end of Oct' was extremely ambitious with 4-6 weeks the turnaround time just about everywhere. Please explain to be issued tonight most probably.

On the 6th September they announced they had completed around half of the drilling for about 10,000 metres.
(Final drillings were around 17,000 metres, so they were over halfway, but just didn't know it then.)

It's now 7.5 weeks after that announcement, which was a Monday.
Pretty sure a truck load of samples/cores would have already been at the assayers before this announcement so their timeframes seem ok for current prevailing conditions.

"The first batches of analytical results from the drilling expected towards end of October"

So maybe not October... if not, November.

Around a week ago, some options were converted and listed from much lower prices than the SP. (Around 42 million I believe).
May explain the dump down yesterday by means of profit taking and setting up for another run up, perhaps?

 

[Sean K]

Well pointed out @frugal.rock

Answer to their please explain in already:

 

[frugal.rock]

Was a bit busy yesterday, and got caught off guard with rapid move... Thus, revenge was in order once I got engaged.
Original entries averaged around 0.011 and had skimmed off at higher prices, so only open profits vanishing on a smaller holding.
Hopefully the below won't bite me.

 

[frugal.rock]

It's all happening...

CAENEUS MINERALS LTD
Security Code: CAD
Pause in Trading
Trading in the securities of the entity will be temporarily paused
pending a further announcement.

 

[Sean K]

It's all happening...

CAENEUS MINERALS LTD
Security Code: CAD
Pause in Trading
Trading in the securities of the entity will be temporarily paused
pending a further announcement.

WTF is this??

 

[wabullfrog]

The pause in trading to announce that assay results are delayed???

Trading again

 

[Sean K]

The pause in trading to announce that assay results are delayed???

Trading again

Bizaar. But, there was nothing to explain yesterday's smashing... In theory, should just go back to the price it was a couple of days ago. They really should have updated the market as a courtesy on the delays of the assays. Is that material information when everyone knows there's delays?

 

[frugal.rock]

Was watching this today and wondering WTF. Leaky ship, surely. Those drill holes must have been dusters.

The last paragraph of the update announcement you posted addresses your concerns, can't say it will allay them.

WTF is this

I don't see anything untoward.
They got a please explain, they responded, indicative pre-trading looked like it was going to be choppy.
CAD Stakeholders on social media have complained in the past about a lack of news flow.

As a holder, I don't have any issues and appreciate the update. They can't stop covid and "unprecedented demand" for assayers services.
It won't help for this month's comp though.... CAD entry for the 3rd month running...? or is the 4th month...ha, can't rightly remember now.

 

[Sean K]

The last paragraph of the update announcement you posted addresses your concerns, can't say it will allay them.

I don't see anything untoward.
They got a please explain, they responded, indicative pre-trading looked like it was going to be choppy.
CAD Stakeholders on social media have complained in the past about a lack of news flow.

As a holder, I don't have any issues and appreciate the update.
It won't help for this month's comp though.... CAD entry for the 3rd month running...? or is the 4th month...ha, can't rightly remember now.

Just lazy comms perhaps.

Should go back to about where it was Tuesday I reckon.

 

[frugal.rock]

Just lazy comms perhaps.

Should go back to about where it was Tuesday I reckon.

Tuesday close was $0.018, so I hope your right.?

5 day chart, 15 minute bars.

 

[frugal.rock]

"The Company announced on 5 October 2021 its first batch of analytical results were due
at the end of October 2021.
Due to unprecedented drilling activity in Western Australia there have been industry wide delays with high demand for analytical results.

Accordingly, the Company now expects to receive the first portion of its assay results in the second half of November 2021."

"The Company has an existing policy that assay results will be sent directly to the CEO"

November comp entry.

 

[frugal.rock]

the Company now expects to receive the first portion of its assay results in the second half of November 2021."

Monday is the first day of the second half of November and
AGM presentation out today.
?

 

[frugal.rock]

So, partial assay results still not ready. Next year now.
Patience required, grasshopper.

Mumblings about a lithium announcement before eoy though. December comp entry.

 

[Faramir]

@frugal.rock can I pick CAD for Jan 2022 tipping comp? I can find another stock if you want this.

I actually have no real reason for picking this other than it is 1.3 cents.

 

[frugal.rock]

From announcement on
29th Nov, 2021

USA LITHIUM PROJECTS

"Given the current strength in lithium prices and associated companies, the Company has received a number of proposals to potentially sell or spin-out these assets.
The board continues to review these options with a view to maximizing value for all shareholders and expect to provide an update on this strategy before the end of this calendar year."

I note that update hasn't been announced yet.

Still waiting on AC drill results as well, which are scheduled to be available this month.

It's sink or swim month. ?

 

[frugal.rock]

ASC Announcement
17th Jan, 2022

NEW EXPLORATION PLANNED FOR THE COMPANY’S USA
LITHIUM PROJECTS

• Caeneus to restart exploration on its USA Lithium Brine projects

• Projects located strategically in the Lithium Battery Basin, Nevada, USA which also hosts Rhyolite Ridge (ASX: INR) and Silver Peak (NYSE: ALB) lithium deposits

• Historical drilling confirmed presence of lithium brine

"During 2021, the Company received interest from third parties regarding its Columbus Marsh and Rhodes Marsh projects which are located respectively 50 kilometres and 70 kilometres north-west of Albemarle
Corporation’s (NYSE: ALB) Silver Peak Mine. Silver Peak is North America’s only producing lithium brine
deposit, and has been in continuous operation since 1966.

The CAD Lithium projects are also located 50 kilometres and 70 kilometres respectively north of Ioneer Limited (ASX: INR) and it’s Rhyolite Ridge Lithium Boron Deposit."



Still awaiting assay results due this month.

 

[frugal.rock]

Still awaiting assay results due this month.

Well, that's the shortest longest wait I've ever had...??

ASX Announcement
25 January 2022

ANOMALOUS GOLD INTERSECTED AT ROBERTS HILL

• Assay results received from the maiden Roberts Hill air core program on E47/3846

• Geochemically anomalous Au, As and Ag intersected within sheared Mallina sediments

• Drill intercepts include:
RHAC147: 4 m @ 0.42 g/t Au from 80-84 m (incl. 848 ppm As)
RHAC103: 4 m @ 0.17 g/t Au from 28-32 m
RHAC101: 4 m @ 0.11 g/t Au from 40-44 m
RHAC045: 4 m @ 0.13 g/t Au from 28-32 m
RHAC176 : 4 m @ 0.10 g/t Au from 4-8 m
RHAC017: 1 m @ 0.10 g/t Au from 71-72 m
RHAC159: 16 m @ 1.53 g/t Ag from surface
RHAC057: 12 m @ 1.51 g/t Ag from surface
RHAC138: 8 m @ 2.40 g/t Ag from 4-12 m
• Further follow up drilling planned to coincide with Mt Berghaus exploration activities

"As this is the maiden campaign across a prospective region never drilled before in the Pilbara, exploration holes have been spaced at 200 metres across the various ‘target zones’.

The Company will now focus on these areas of mineralisation to determine whether a follow up program incorporating E-W closely spaced fence line traverses may reveal the potential for continuity across the Roberts Hill tenure."


Perhaps this De Grey nearology play has legs after all?
The next few days trading will be telling what the market thinks.
Doesn't matter what I think.

 

[frugal.rock]

Perhaps this De Grey nearology play has legs after all?

I honestly thought those last 3 intesections were gold Au.
It was all too late before I found they were actually Ag.
The market has spoken.

Rob Mosig, you'd better get some good lithium results or you'll be bloody hearing from me... ?

 

[frugal.rock]

For liability purposes, this post is complete fiction, unless some of it turns out to be proven fact.

In the interests of wiping the slate clean on this stonk, I thought I should recap.

A substantial loss for me on a double position. Loss in the order of 30% ?

Looking back, there are clear signs of insider trading.

The drilling results ended up being ALL of the assays, when as an investor, the company had stated they were waiting for partial results.
I suspect once they found out the partial results were crap, they held out divulging this in the hope of the rest of the assays returning a good result.
Didn't happen.

When they announced the lithium review, I had thought I should exit on the rise from that, knowing that if the assay results for gold were good, I could buy in again.
If I exited then, it would have been a small profit.
I was greedy and hopeful and it clouded my better judgement, as I had expected a better rise from the lithium announcement.

I note, around a year prior, they had a lithium review also.
They did another one for the new director Rob Mosig.
I'm going to remember that name.
ROB MOSIG.

I'm unlikely to ever buy this stonk again... I was a true believer and lessons have been learnt.