CNX comparative valueDrill hole read outs for CNX frequently show 3-5% cu content. Ivanhoe;s Congo property at Kamula is higher at about 5% cu content. What CNX has going for it compared to other shares is the VERY LOW number of shares outstanding. CNX only has 17 mil shares outstanding while Ivanhoe has 624 million shares. outstanding. McEwen mining is trying to develop a cu deposit at the top of a mountain in Argentina; but the cu content of the drill read outs is far below 1% .
Today Stockhouse is raving about a cu property in Namibia; yet the drill read outs are far below CNX's drill read outs. So if we continue to be patient, and Decendent produces the cu content numbers expected, we will be that much stronger. It is fortunate for all of us that our CEO owns 6% of the outstanding shares of CNX. Dilution is not something he is pursuing, in contrast to CNX's peers.
Koryx Copper drilling program highlights
The highlights from the recent drilling program include intersecting 168.60 metres at 0.40 per cent copper equivalent (CuEq), with multiple 2-metre intervals showcasing even higher grades.
In mid-April 2024, the team released the fourth round of assay results from the drill program. At the forefront of those results was hole HM17, which returned 0.93 per cent CuEq over 12 metres from near surface, including 4 metres at 1.52 per cent CuEq.