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Share Name Share Symbol Market Type Share ISIN Share Description
Castillo Copper Limited LSE:CCZ London Ordinary Share AU000000CCZ2 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.75 1.70 1.80 1.85 1.75 1.78 2,290,607 12:21:40
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
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Castillo Copper Share Discussion Threads

Showing 776 to 799 of 850 messages
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DateSubjectAuthorDiscuss
06/8/2021
22:21
29M IPO The recent 29M IPO at A$1bn consists of the Capricorn mine, Qld, Golden Grove in WA, Oz & another in Chile. So, the Capricorn mine itself may not be valued at A$1bn. The information should be in the listing schedule. However, AFR reported that the "IPO portfolio recorded $621 million revenue & $185m in EBITDA in the 2021 financial yr." Hegarty formerly ran RIO TINTO*s Australian copper/gold business and was founder of Oxiana Gold Ltd [now Oz]. Source: AFR == "Cashed up Owen Hegarty returns as deal maker."-AFR, 31 Jan 2015 "FORTESQUE Vice Chairman & mining identity has re-emerged at the helm of a US$450m war chest.. Most of the capital has come from large institutional investors in the US, mainly endowments by universities and corporations, foundations, family offices & fund of funds. European institutions are also invested. Volatility is driving all the mining co*s mad. You cant raise equity at the right time & sometimes you cant raise debt, he said. [Chang of EMR Capital] The current mkt presents OPPORTUNITY. Quite often, the GOOD ASSETS SIT IN THE HANDS OF CO*S THAT CANT RAISE C A P I T A L. Mr Hegarty was MD of Rio Tinto Asia." == I remember that period. So, there*s the answer why copper assets were being sold.
jlondon
06/8/2021
18:26
It illustrates my concern though as Hegarty paid just $45m in 2015 for an asset now valued at over a $1,000,000,000 admittedly with another asset as well as he paid $210,000,000 for Golden Grove...but not a bad return. I bet those who divested are pig sick
pensionplanner
06/8/2021
16:34
Castillo Copper tweeted today at 3pm+, Fri, 6 Aug 2021 Link: https://twitter.com/CastilloCopper It relates to Mt Oxide and the "context." CCZ's tweet also mentioned that Big One,Qld is near "historic and OPERATING MINES" namely, Mt Oxide, LADY ANNIE & CAPRICORN MINE. CCZ shows the map and their prospects. I have already posted a few days ago that Lady Annie was sold to the Chinese and Capricorn Mine was bought by the renowned Owen Hegarty and has just IPO'ed in Australia with a mkt cap of A$1bn. CNBC International interviewed Owen Hegarty as its not everyday that a mining co comes to mkt at A$1bn. The co is named 29M. 3 prospects are in 29M ie Capricorn Mine, one in WA, Oz & Chile. Its just occured to me that given the 3 historic and operating mines are close or closer to CCZ's Big One, the geology will be in that same category but grades may differ somewhat in part/s. However, to me, I am looking forward to the Competent Person [Geo] preparing the JORC as indicated in the Feb 2021 CCZ Presentation. CCZ tweeted a few days ago to ask shareholders and potential investors to look at this Feb 2021 presentation. They later tweeted the next day, a para from the said presentation ie major discovery which I have posted already. Fri, 6 Aug 2021.
jlondon
06/8/2021
10:01
PensionPlanner Over the years, I have experienced on forums, postings that I have never had to experience in real life. However, from school, I was taught never to go down to that level. Any reasonable person gives a logical explanation of any co. To do so, one has to go into development synopsis or a fuller explanation. So, this morning, I have read your elucidation which is clear. I am also cognisant of the processes and the steps thereof. So, in this regard, I am cognisant that you are aware of the processes as well. That is your right to contact your LAWYERS as that is due process and it is also right you make no further comment as norm. On any stock forum, one can post lots of views but whether those views eventuate is another thing. So, one or two, dont like development synopsis styles but rather just x, y, z. However, research, I find is helpful to be able to get an idea of what a project may eventuate but it is never a GUARANTEE until the drill hits at least 1 hole. David Lovell, hall of fame geologist who discovered Escondida said he could tell with 1 hole but this is not the norm. I read it on his website RIP. These days, I tend not to take such an all out risk unless the geopyhsics etc is compelling and even then a more modest stake instead of just plunging in. Ad hominen is sometimes used as this detracts from the subject matter. This is what I have experienced at times. So, perhaps, I recognise in your posts that you have made points which has room for further discussion and quite rightly, it is your right to take things forward per the processes. Thank you. JL, Fri, 6 Aug 2021.
jlondon
06/8/2021
09:27
Must mention how pleasing it is to correspond with someone without personal jibes. Congratulations on conducting yourself thus JL. As I've commented there is nothing more to post on this bb about that particular subject.
pensionplanner
06/8/2021
08:45
PensionPlanner Although you did not address your last post post to me of #777, Fri, 6 Aug 2021, it was interesting nevertheless to read that you stated: "I have made myself clear & hope the BOD reconsider as I'doubtful this deal complies with the rules, but I have used my best endeavours to ensure the authorities INVESTIGATE this transaction, and MY OWN LAWYERS ENGAGED on the subject so I do not believe I should comment further." Yes, that is the rule of law in a democracy. I believe in the processes: 1] Consensus of shareholders if one wants to engage others to put forward an email or letter to the board with stated reasons etc. 2] If a significant holder of CCZ shares has 5% of the shares [voting rights], they can call for an EGM. 3]Ask that the transaction is within the regulations. Usually, generally, the IPO will set out fair value as norm and this is just my understanding for ALL transactions. 4]The last process will be to instruct lawyers to write to the board relating to the transaction and set out the points etc. So, one awaits further development which will be made known to the market if there is further development. Fri, 6 Aug 2021.
jlondon
06/8/2021
07:59
PensionPlanner Relating to your post above #775, 6 Aug 2021 [Fri], I went to have a look. I found the original CCZ RNS dated "Highlights: Acquisition gives Castillo a commanding position in Broken Hill - A TRANSFORMATIONAL MOVE which delivers a large footprint proximal to Broken Hill*s world class silve-zinc-lead deposit." Dated 1 Oct 2020 "Castillo*s enlarged package...geological modelling released by GSNSW highlighted the ground is PROSPECTIVE for Broken Hill type ZINC-SILVER-LEAD and IRON OXIDE-COPPER-GOLD mineralisation [IOCG]." CCZ paid A$215,000 cash plus assign 2% NSR in the event of future mining operations materialising. My Comment: The CONTEXT of transformational is qualifed as in the said RNS from CCZ by the worl "move." In a lot of the CCZ RNS, it does state: "prospective." There appears to be 2 types of geology - the west side is Broken Hill type and East is more IOCG. So, they paid upfront A$215,000 for it and did further technical work on it as said in the RNS above. I did say that it is my view ONLY that any prospective target could be "TRANSFORMATIONAL" as NORM. I did not recall the latest CCZ RNS stating that Broken Hill is transformation so I decided to have a look. So, the context was qualified by the board as in the original RNS of 1 Oct 2020. Kindly check. Currently, at 9:32am, Fri, 6 Aug 2021 the share price is 1.9p to sell and 2.1p to buy [Advertised, not live]. Live price [dummy] is 2.0298p to Buy [normal mkt size only] and to sell 1.9301p. This will help as its hard to distinguish buying and selling price since the spread is not very wide. There is no change either + or -.
jlondon
06/8/2021
07:33
JL. Thank you for your polite reply. The idea that one of the more experienced investors has voiced they fear dilution, makes no sense really under the circumstances? If the company has not got the wherewithall to raise £2.4m using the consultants and skills it also requires for an IPO then it is more a reflection on them. The logic that one investor fears dilution makes no sense because the alternative is to have no beneficial interest in this 'transformational' asset at all, unless they cop up with paying for shares in the new company, for an asset they already held. The company gets diluted if an asset is given away too, and the potential is much more than the £2.4m or so the company expects to get from an IPO, so the downside is much greater having an IPO than even dilution, but where even with dilution CCZ shareholders would still own the asset in question and the potential of that asset. Failing that the directors could offer existing shareholders to raise the £2.4m in an open offer to shareholders, and even then although non subscribing shareholders who may not have the money to subscribe, would still enjoy the potential of the asset and others choosing to subscribe would also, within the umbrella of CCZ avoiding all the costs of an IPO, which in my opinion should not have been green lighted and already arranging parties to progress the IPO, without a proper discussion and vote by shareholders as its a fundamental change to the business, one that could be very poor for existing shareholders.I know they discussed the potential for an IPO previously, but not the terms, which I find inexplicable and unacceptable let alone possibly in breach of AIM, LSE and Companies Act requirements. I've been investing for 45 years, so I don't get impressed with comments about one of the more experienced investors and no disrespect intended. "So, unless one can be sure at this early point with NO DRILLING done at Broken Hill that its going to turn out X, Y or Z, that is "potential" as is norm. Of course, it COULD be "transformational" - any prospect can be but UNTIL DRILLED there is no guarantee no matter how promising at this stage. I am sure that when the IPO comes out, the listing documents will show CAVEATS as usual at the end as norm." If this were the case then one would have to question the judgement of our Board in their description of the asset, and acquiring it in the first place and the glowing RNS about Broken Hill.
pensionplanner
06/8/2021
07:21
PensionPlanner #773 Thank you for your further elucidation as its important to see it also from your point of view. Of course, you are right, as I have already stated, that IF Broken Hill turns out to be "transformational", it may be good to keep it EVEN IF IT MEANS DILUTION etc. On the London South East CCZ forum, one of the more experienced investors has voiced they fear dilution. So, perhaps, go over to the London South East to make your point & if enough people think so, one can approach the co. That is fair and democractic. I know this wont be popular. However, from my own perspective, if 1 person on Twitter has an interest in this co, one could ask him. He might have some idea given he is a mining engineer and qualified from Oz etc. However, I cant ask the favour so I have to do my own work and that will take a long time. I dont just jump but do due diligence, so I differ but by all means, take it forward. J.L 6 Aug 2021.
jlondon
06/8/2021
07:14
No its not straightforward, yes we have the cash, which may or may not assist developing remaining assets, but you look at the RNS announcements about Broken Hill....TRANSFORMATIONAL, so we lose what could be a multi million asset for £2.4m cash, where we've expended money on that already? Better to finance the £2.4m or come to CCZ shareholders for it keeping it CCZ, instead of what some may consider stealing an asset from CCZ and passing it via IPO to person/persons unknown and where we only know the chairman, but do not know if our current directors will be on the board there, which would in my opinion be against Companies Act as offering terms prejudicial to minority shareholders. Again this asset was 'transformational', so if we get £2.4m for it, and its spun off BECAUSE its a great asset, it could end up being a £100m asset for what...£2.4m of spending money for CCZ directors to use. Better then to finance it, even if it means dilution, we would still be in a better position that not having the asset at all. Failing that a shareholder only offer placing, as if raising £2.4m is that hard for our directors perhaps they should consider other employment. I have not only made my position clear, I have reported it to both the LSE and the FCA as I do not believe it complies with the rules, and may be in contravention of the Companies Act regarding minority shareholders, let alone disposal of a significant asset. I have seen similar elsewhere, and on one occasion an asset spun off, within months was worth multiples of the company that spun it off....which is OK if shareholders share in that success with what is OUR asset, but where it mentions SUBSCRIBING, its not on. In that case why not use shareholders to subscribe for £2.4M shares in CCZ, because at least ALL shareholders would stand to gain, whether they chose to buy more shares in a preferential offer to shareholders in the same company, rather than HAVE no interest in an asset they own spun off as another company, unless they effectively REPURCHASE their own asset! Some shareholders may not have the money to do that, and would be disenfranchised, and effectively it puts existing shareholders at a distinct disadvantage, and under duress to either buy shares in the new company or face losing the potential of this transformational asset, which CCZ was so glowing about. I get the impression that some posters are not private investors, but may be acting as spokespeople for CCZ
pensionplanner
06/8/2021
07:11
Broken Hill IPO Spin-Out. I have looked at the Broken Hill data into more detail. However, as with ALL prospects, any geophysical anomaly, if there is one, say has to be TESTED by drilling. So, a program of drilling has to be done which requires Stage 1 at least. That will require A$$ or ££. So, from any co*s perspective, they have to make a choice rather than leave the prospect. In the meantime, there are obligations under the lease - I am not privy to the exact terms of the lease. If anyone is not happy with this and wishes to retain Broken Hill, by all means write to the co. If enough shareholders write to the co to retain Broken Hill, maybe they might change course? Again, there will have to be choice - what do they do with the Big One, Arya and 8 other prospects which are essentially COPPER. Broken Hill, New South Wales, Australia - the historic Broken Hill mine has lead, silver etc. On the CCZ 2 licences, East & West of Broken Hill mine, they have found copper but how much of it is there, one cant tell at the moment. I still have not decided whether I will buy into the Broken Hill IPO. One would need to find out more about the nature of the geology and more importantly the potential size, grades. One would need to have experience in this particular geology to be able to decide? I will give an example. GGP was going to drill Ernest Giles - a major was interested. However, from the beginning it was shown that the mineralisation is under cover and that it may not be 1 ORE BODY but camps. Someone from Solgold told us to have a look. I had a look and decided it was a difficult task etc without going into details. History now but thankfully I did not enter at that time. So, unless one can be sure at this early point with NO DRILLING done at Broken Hill that its going to turn out X, Y or Z, that is "potential" as is norm. Of course, it COULD be "transformational" - any prospect can be but UNTIL DRILLED there is no guarantee no matter how promising at this stage. I am sure that when the IPO comes out, the listing documents will show CAVEATS as usual at the end as norm. Its good to discuss from different angles. However, from my point of view ONLY, I have to be pretty sure in my own research before I commit to buying the IPO or any mining stock as norm. If one listens to people like Sprott, their Geo, Torodruk explains more as to what to look for. From my limited experience of what I have heard from them,they value from drill result? They will also have the drilling reports of Broken Hill Mine, MRE etc and more importantly, the geology etc. DYOR. 6 Aug 2021.
jlondon
06/8/2021
07:06
Surely if CCZ is selling part of an asset through the IPO then the resulting proceeds become an asset of CCZ in return. Therefore shareholders have that cash instead. Pretty straightforward. The issue is then does the IPO allow CCZ to get a higher value for that asset as opposed to say a farm out? I think it probably will. So i think it's a good idea. Undoubtedly the IPO value will be higher than the current Value on the balance sheet so there should be an uplift in NAV. The cash can then be used to progress other assets again hopefully increasing their value. No value is disappearing. CCZ is selling something and CCZ gets the proceeds. And we are CCZ shareholders.
bill216
06/8/2021
06:49
tax loss: If its giving shares then I agree that is the norm and holders would have the opportunity you mention, but this does not appear to be what's happening. It appears all shareholders get is preferential treatment to SUBSCRIBE for shares in an asset they already own via CCZ? RNS: (and will include a preferential SUBSCRIPTION allocation to Castillo shareholders)
pensionplanner
06/8/2021
06:24
"..can't just steal something that's yours already and sell it off to somebody else". This is 2021, not 1971. 'Tis the way of the new world and they've been ripping us off, overtly and with impunity, increasingly so over the last 50 years..!
linz22
05/8/2021
21:45
PP When a company spins off part of its operation, the existing shareholders do not lose their interest in the hived off part, as far as I know. You will be given shares in Newco & have the opportunity to add to your holding which they say will be at a preferential rate. I have not seen all of the details but they cannot just pinch something that is yours & sell it to somebody else.
taxlosstone
05/8/2021
21:31
If the asset was as good as being described "transformational" it makes no sense to divest it. The idea its benevolence to ALLOW CCZ shareholders to buy into an asset they already hold seems like snake oil salesmen commentary.
pensionplanner
05/8/2021
18:49
BROKEN HILL MINE https://en.wikipedia.org/wiki/Broken_Hill "In 1883, he discovered what he thought was tin, but samples proved to be lead and silver. The orebody they came from proved to be the LARGEST & RICHEST of its kind in the world. Rasp & associates FOUNDED the BROKEN HILL PROPRIETARY CO [BHP], later BHP Billton and now B H P again, in 1885 as the Syndicate of 7." ===== LONDON SOUTH EAST - CCZ FORUM DATA A 5 Aug 2021 TRADE HAS SHOWN UP at 17:06 for 8 2 0, 0 0 0 shares for £16,4000!! There were earlier buys for 50k, 50k, 100k, 275k . Just before the mkt closed the closest deal was for 3,500 shares [£66.50] & 700 shares [£13.30] at 16:23 at a SHARE PRICE OF 1.9p. I was testing live quote just sec before the close and 1.9p was for sell. So, it would appear 8 2 0, 000 may be a BUY given the buyer had to PAY A PREMIUM at 2P? The share price ended GREEN so it may be a buy with the price ending 1.9p/2.1p as the spread on the Lon Sth East forum data.
jlondon
05/8/2021
17:31
"BROKEN HILL: ONE OF THE W O R L D*S LARGEST LEAD-ZINC SILVER DEPOSITS. -The lead zinc silver ore deposit of Broken Hill, in far-western New South Wales, is among the GREAT ORE DEPOSITS of the SIZE, RICHNESS & CONTINUITY." -Google Arts & Culture. hxxps://artsandculture.com/exhibit/broken-hill-one-of-the-world-s-largest-lead-zinc-silver-deposits-geoscience-australia/XQKCjsU3esTMIg?hl=en If the link is faulty, then type up the title in the search engine. Click the arrow as its gives a simple to follow history especially of the ore body. --CASTILLO COPPER - BROKEN HILL LICENCE SET TO IPO ON THE ASX, 5 AUG 2021 RNS/ANN--- I have read the RNS more carefully, especially the geo data on Broken Hill which LIES TO THE WEST AND EAST of the Broken Hill MINE. "Broken Hill has been mined continuously for 120 Y E A R S. 1.5km underground utilizing highly efficient BULK underground mechanised mining. CREDITS GEOSCIENCE AUSTRALIA " From the link. I note the copper which is just about 1% cu which is what the EV industry will want. Its in the RNS of today, 5.8.21.
jlondon
05/8/2021
16:03
Nice one - I also managed a largish top up on the use of the word Massive which I took literally. Classic example of life being a learning curve.Nicely underwater now on that top up but I'm not here for the short term so relatively sanguine about the paper loss.
husbod
05/8/2021
15:50
CCZ IPO - Broken Hill [BH]5.8.21 On the London South East, the above was discussed today. In particular, Colonel Drake on the London South East CCZ forum stated: "Overall, I think this removes the fear of heavy dilution to fund BH with capital to focus on the TBO. Makes sense but only if you THINK you have something worthwhile at TBO." The rest is also of interest in that shareholders have a choice to buy into BH or not depending on the "PURE EXPOSURE" or "SPREAD RISK" option. This is the 1st time I have seen Colonel Drake on CCZ but he is a experienced investor as he comes over from Solgold forum. It is common knowledge that where a junior exploration has many projects on the go, the market will not usually price in the other projects & for this reason, even Paul Johnson is also doing spin-outs to "realise value" or rather crystallise value potentially. Generally known. Also, Ged from CCZ has today done an AUDIO which is of interest, again, London South East CCZ sourced it first re: drilling results at Big One, Arya & Zambia. On a more positive note, CCZ SHARES WAS +2.56% AT 1.9/2.1p per LSE. Looking at the data from LSE [Lon Sth East CCZ], there was rather largish buys. A green day which is welcomed from after Ged*s audio interview. Thur, 5 Aug 2021.
jlondon
05/8/2021
13:50
Think I must be an oxymoron for buying in here on that 'material' news rns. Material my a@$e
fo77y
05/8/2021
10:59
Good summary pp, demonstrates they don't care about shareholders.
2mex
05/8/2021
10:48
Isn't that an oxymoron. Love that word almost as much as litotes.
husbod
05/8/2021
08:56
Whilst they suggest Managing Director of the new company will be Dr Dennis Jensen, illustrating they are way down the line in this divesting of assets, but no mention of the other directors, where if Castillo directors are on the board, they earn two wages, one from Castillo without having to oversee Broken Hill, and then getting paid to oversee Broken Hill in the new company. Its clear the board have gone far into the process, engaging IPO company's, etc., and I wonder if this has exceeded their mandate or kept to AIM rules on significant changes to a business. Now I know this was mooted some time ago, but in my opinion should have been sanctioned before engaging costly IPO in a transaction that is in my opinion not in the best interests of my shareholding in a company which described acquisition of this asset as transformational, and where this transaction is a significant change to the business: "Broken Hill Alliance On 30 September 2020, in a transformational move which delivered a large footprint proximal to Broken Hill's world-class silver-zinc-lead deposit, CCZ agreed terms to acquire Wyloo Metals tenements. The acquisition delivers Castillo a commanding ground position in Broken Hill, while significant technological advances now indicate this footprint is prospective for Broken Hill Type zinc-silver-lead and Iron-Oxide-Copper-Gold mineralisation."
pensionplanner
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