CBG DDAs I stated below, I prefer to base my decisions on facts. Here's some of the facts I've come up with from the company's website as well as sedar and sedi.
**. CBG holds 17 properties in the Chibougamau area, including 8 past producing mines, most of which remain open at depth
** Bateman deposit (results from today) hosts a resource to 183 m of 678,750 tons grading 1.76% copper, 4.13 g/t gold, 16.71 g/t silver
** Berrigan North hosts a resource of 1.4 MT grading 1.77 g/t gold and 3.17% zinc
** holes released today include:
BJ-19-21 which assayed 10.6 m of 3.06% copper, 2.96 g/t gold, 13.04 g/t silver and within that there was 4.38 m grading 4.01% copper, 4.90 g/t gold and 16.17 g/t silver
BJ-19-22 which assayed 15.6 m of 3.02% copper, 0.48 g/t gold and 20.2 g/t silver and within that there was 5.9 m of 5.64% copper, 0.82 g/t gold and 61.12 g/t silver
Those are significant intersections. And when you include the closest hole to 22 which was BJ-19-18 which graded 9.2 m of 7.7% copper, 3.58 g/t gold and 33.25 g silver/t, you can see why the company remains optimistic when the deposit remains open in several directions and at depth (see 19, 22) where the grades trend higher.
** share count of approximately 47 million
** considerable insider ownership of about 20% meaning that management, as well as us, benefits from their success
** infrastructure is all in place meaning exploration costs are greatly reduced
Outlining deposits is a long, methodical process. Holes will hit and miss as they did today. The company will use the information and apply it along with their knowledge and geological models to continue to outline the orebody, not only on Bateman but their other properties. As they continue to do so, speculation and anticipation (and hopefully price appreciation) will occur.
At the current sp, and with a market cap of under $5 million, I feel downside risk is minimal while there is a great level of potential upside moving forward.
Have a good night.