CBG Another Look...Well, with the drill program recently initiated on Bateman Bay’s C3 Zone, it’s worth another look at this property and the greatly undervalued company that owns it.
**. CBG holds 17 properties in the Chibougamau area, including 8 past producing mines, most of which remain open at depth
** The Berrigan North hosts a resource of 1.4 MT grading 1.77 g/t gold and 3.17% zinc
** Bateman deposit (currently being drilled) hosts a resource to 183 m of 678,750 tons grading 1.76% copper, 4.13 g/t gold, 16.71 g/t silver
** Holes released from their previous drill program on Bateman 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
* BJ-19-18 intersected 9.2 m of 7.7% copper, 3.58 g/t gold and 33.25 g silver/t
* BJ-19-17 intersected 12.5 m of 3.46% copper, 2.75 g/t gold, 10.81 g/t silver and 0.023% copper as well as 5.9 m of 8.49% copper, 7.55 g/t gold, 49.22 g/t silver and 0.022% cobalt
Given the above results, it’s evident why investors are highly anticipating results from the current round of drilling.
Other relevant CBG fundamentals include:
** share count of approximately 47 million; market cap under $7 million
** considerable insider ownership over 20% meaning that management, as well as us, benefit from their success
** the company in the past has received considerable interest from other parties to sell/option some of their properties. Always a positive sign when others want you or your ground!
** infrastructure is all in place meaning exploration costs are greatly reduced
At the current sp, and with a market cap of under $7 million, I feel downside risk is minimal while there is a great level of potential upside moving forward in anticipation of results from the current drill program on Bateman Bay.
Have a good night!