Top calling here is nutsAnybody who thinks this stock will top here is crazy.
We haven't even gotten back to the .382 fibo from the $2.50 high.
The high grades from Tindals and Perseverence will drive the mill costs down tremendously. They are orders of magnitude better than the 1.4 g/ton assumptions in the initial workup.
These high grades will increase the cash on cash return on the RJV by many orders of magnitude. They have whole gold districts in the RJV yet to define.
And CBR's 100% owned Jaurdi Hills land just to the north has access to the 3 Mile Hill Mill. An additional 3000-5000m drill program on that property is testing newly generated targets and high priority historic gold anomalies, including previous drill intercepts at Eight Mile (69.70 g/t Au /1.0m in EMR003) and Panther targets (6.52 g/t Au /11.0m in JHA043; 4.52 g/t Au /20.9m in JDH002; and 17.7 g/t Au /1.0m in PA23807-3). So it just gets better now that they have proved their geologic modeling.
A lot of the options and warrants have 2007 expirations and at strikes from $0.52 to $1.00
The underwriters and warrant holders are going to make sure they are in the money.
CBR hasn't even announced results on the 2006 Nunavit drill program, [500km of favourable zones on the property and at
least 62 distinct gold occurrences have been identified].
Nor do we have full results from the complete 2006 RJV drill program.
And don't forget the Indicator diamond acreage has now been defined {630K acres) and is set for much more detailed drilling and exploration work. CBR gets carried for 10% and has to fund 10%.
Options outstanding
22,500 @ $0.56 Exp 10/07
Total options: 5,260,424 @ $1.13
540,875 @ $0.25 Exp 10/07
Total: $ 5,960,924
911,049 @ $0.52 Exp 08/08
130,000 @ $1.80 Exp 01/09
2,400,000 @ $1.80 Exp 07/09
216,000 @ $0.31 Exp 12/09
640,000 @ $0.81 Exp 01/11
400,000 @ $0.50 Exp 11/11
Warrants outstanding
2,699,999 @ $1.00 Exp 07/07
Total warrants:
10,197,942 @ $0.80
2,879,998 @ $0.69 Exp 03/07
Total: $ 8,150,656
4,590,445 @ $0.75 Exp 07/08
27,500 @ $0.75 Exp 09/08
Agents’ warrants outstanding
Total warrants:
2,475,664 @ $0.80
1,066,666 @ $0.80 Exp 07/07
Total: $ 1,980,531
1,408,998 @ $0.80 Exp 07/08
Shares Issued: *69,513,342
Fully Diluted: *87,447,372
Total options: 5,260,424 @ $1.13 Total: $ 5,960,924
Total warrants: 10,197,942 @ $0.80 Total: $ 8,150,656
Total agent warrants: 2,475,664 @ $0.80 Total: $ 1,980,531
From pg 32 of 36, Annual MD&A filed Jan. 30 2007
Working Capital:
$3.9 Million at 12/31/06