Cabral Gold (CBR) - 7 New High-grade Veins Changes the Picture
Matthew Gordon, Ptolemy Capital
6 Months ago
As ever Carter tackles the hard questions head on. One company Director sold off his position at a recent peak, which Carter says was a mistake. Carter continues to hold over $1.5M of his own shares in the company and has not sold any shares. Brazil has been a big producer of gold and Carter is hoping to show that they have a gold district. An aggressive and ambitious exploration programme saw the first 3 holes come back as dusters, but as part of multi drill programme is not significant. They could have made easier decisions but chose to understand the the target area instead. Not sure it was an auspicious start to the campaign.
Since then the drill results have been very good. And the picture has changed. They have identified 7 high-grade veins amongst their large low-grade deposit. And that changes the prospects for the company. The company has about $6M plus more warrants coming in November. What can they do with that? Do they need more money? Carter tells us. Exciting times lay ahead.
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