CNJ: Annual Report to shareholders
Original announcement by asx on
- Company
- Conico Ltd
- Ticker
- CNJ
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Cobalt
- Secondary commodities
- Nickel, Manganese, Scandium, Copper, Platinum, Gold, Lead, Zinc, Rare earth elements
- Document categories
- Drill results, Capital raise, Resource update, Other
- Extracted
- 2026-09-30 03:09:40 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Conico Ltd's annual report for the year ended June 30, 2026, details a successful recapitalisation that has left the company debt-free and funded for near-term exploration. Despite reporting a significant net loss of $13.87 million, the company plans to conduct drilling at its Mt Thirsty Project in Western Australia to integrate scandium into the existing cobalt-nickel-manganese JORC Resource, building on promising historical intercepts. Additionally, new licence applications for rare earth elements and gold-PGE projects were lodged in East Greenland, although existing Greenland assets faced impairment due to a lack of field activities during the year.
Reasoning: The company successfully completed a recapitalisation, resolving legacy liabilities and securing funding for future exploration, particularly for scandium at Mt Thirsty and new projects in Greenland. However, a substantial net loss and impairment of Greenland assets temper the positive outlook, and reported drill results are historical.
Positive factors
- Recapitalisation completed, company debt-free and funded for near-term exploration.
- Planned drilling at Mt Thirsty to incorporate scandium into Mineral Resource.
- New licence applications lodged in Greenland for REE and Au-PGE.
Negative factors
- Significant net loss of $13.87 million for the year.
- Greenland exploration and evaluation assets impaired due to inactivity.
- No field activities undertaken at Greenland projects during the year.
- Drill results reported are historical (2023), not new assays.
- Mt Thirsty JORC Resource category not specified (Measured, Indicated, Inferred).
Facts used in scoring: 31
Classification and evidence
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: The JORC Resource estimate has an effective date of April 26, 2023, making it over two years old by the report date of September 30, 2026.
Evidence · text
“JORC Resource of 66.2 million tonnes ... (see ASX Announcement: CNJ 26/4/2023)”
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: The document does not explicitly name a Qualified Person or Competent Person responsible for the JORC Resource estimate.
Evidence · text
“JORC Resource of 66.2 million tonnes @ 0.06% cobalt, 0.43% nickel and 0.45% manganese (see ASX Announcement: CNJ 26/4/2023)”
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: The cut-off grade used for the JORC Resource estimate is not disclosed in the document.
Evidence · text
“JORC Resource of 66.2 million tonnes @ 0.06% cobalt, 0.43% nickel and 0.45% manganese (see ASX Announcement: CNJ 26/4/2023)”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The JORC Resource estimate does not specify the resource category (Measured, Indicated, or Inferred), implying a lower confidence level.
Evidence · text
“JORC Resource of 66.2 million tonnes @ 0.06% cobalt, 0.43% nickel and 0.45% manganese (see ASX Announcement: CNJ 26/4/2023)”
Stale Data Re-releasenegative · Story-specific tag
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: The drill intercepts reported are from Phase 1 drilling in 2022 and were previously announced on January 23, 2023, making them historical data.
Evidence · text
“Key drill intercepts confirming scandium mineralisation (CNJ ASX announcement 23 January 2023) include:”
Apparent Width Onlynegative · Story-specific tag
Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness.
Why it applies: The reported drill intercepts are given as downhole lengths without any mention of true width or drill orientation.
Evidence · text
“MTRC011DA: 15m @ 0.45% Co, 0.91% Ni, 5.42% Mn and 40.9 g/t Sc from 45m”
Capital Raisepositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The company completed a comprehensive recapitalisation, raising new equity and settling liabilities.
Evidence · text
“During the year the Company completed a comprehensive recapitalisation and corporate restructure. It raised $2.9 million (before costs) in new equity and issued shares to settle a further $1.625 million of liabilities.”
Debt Restructuringpositive · Story-specific tag
No canonical definition is currently available.
Why it applies: The recapitalisation involved settling converting loans and other liabilities by issuing shares, making the company debt-free.
Evidence · text
“The recapitalisation resolved the Company's legacy legal and financial obligations and leaves it debt free and funded to progress its near-term exploration objectives.”
Extracted facts
Stored fact records: 21. Some facts used in scoring do not have a stored record.
Drill Results (18)
MTRC011DAMt Thirsty · cobaltGrade: 0.45Grade Unit: %Intercept: 15 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC011DA
- Project
- Mt Thirsty
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.45
- Grade Unit
- %
- Intercept
- 15 m
- From
- 45 m
- To
- 60 m
- Intercept Depth
- 45 m
Classification
- Sample Type
- drill
- Group ID
- MTRC011DA:45-60
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows high grades for multiple commodities, particularly scandium, supporting the project's potential, but it is not new information.
Positive factors
- High grades for cobalt, nickel, manganese, and scandium.
- Scandium grades are significant.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC011DA: 15m @ 0.45% Co, 0.91% Ni, 5.42% Mn and 40.9 g/t Sc from 45m (upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC011DAMt Thirsty · nickelGrade: 0.91Grade Unit: %Intercept: 15 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC011DA
- Project
- Mt Thirsty
- Commodity
- nickel
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.91
- Grade Unit
- %
- Intercept
- 15 m
- From
- 45 m
- To
- 60 m
- Intercept Depth
- 45 m
Classification
- Sample Type
- drill
- Group ID
- MTRC011DA:45-60
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows high grades for multiple commodities, particularly scandium, supporting the project's potential, but it is not new information.
Positive factors
- High grades for cobalt, nickel, manganese, and scandium.
- Scandium grades are significant.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC011DA: 15m @ 0.45% Co, 0.91% Ni, 5.42% Mn and 40.9 g/t Sc from 45m (upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC011DAMt Thirsty · manganeseGrade: 5.42Grade Unit: %Intercept: 15 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC011DA
- Project
- Mt Thirsty
- Commodity
- manganese
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 5.42
- Grade Unit
- %
- Intercept
- 15 m
- From
- 45 m
- To
- 60 m
- Intercept Depth
- 45 m
Classification
- Sample Type
- drill
- Group ID
- MTRC011DA:45-60
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows high grades for multiple commodities, particularly scandium, supporting the project's potential, but it is not new information.
Positive factors
- High grades for cobalt, nickel, manganese, and scandium.
- Scandium grades are significant.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC011DA: 15m @ 0.45% Co, 0.91% Ni, 5.42% Mn and 40.9 g/t Sc from 45m (upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC011DAMt Thirsty · scandiumGrade: 40.9Grade Unit: g/tIntercept: 15 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC011DA
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 40.9
- Grade Unit
- g/t
- Intercept
- 15 m
- From
- 45 m
- To
- 60 m
- Intercept Depth
- 45 m
Classification
- Sample Type
- drill
- Group ID
- MTRC011DA:45-60
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows high grades for multiple commodities, particularly scandium, supporting the project's potential, but it is not new information.
Positive factors
- High grades for cobalt, nickel, manganese, and scandium.
- Scandium grades are significant.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC011DA: 15m @ 0.45% Co, 0.91% Ni, 5.42% Mn and 40.9 g/t Sc from 45m (upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC005DMt Thirsty · cobaltGrade: 0.08Grade Unit: %Intercept: 48 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC005D
- Project
- Mt Thirsty
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.08
- Grade Unit
- %
- Intercept
- 48 m
- From
- 2 m
- To
- 50 m
- Intercept Depth
- 2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC005D:2-50
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC005D: 48.0m @ 0.08% Co, 0.44% Ni, 0.13% Mn and 47.6 g/t Sc from 2m, including 6m @ 57.4 g/t Sc from 5m (near-surface upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC005DMt Thirsty · nickelGrade: 0.44Grade Unit: %Intercept: 48 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC005D
- Project
- Mt Thirsty
- Commodity
- nickel
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.44
- Grade Unit
- %
- Intercept
- 48 m
- From
- 2 m
- To
- 50 m
- Intercept Depth
- 2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC005D:2-50
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC005D: 48.0m @ 0.08% Co, 0.44% Ni, 0.13% Mn and 47.6 g/t Sc from 2m, including 6m @ 57.4 g/t Sc from 5m (near-surface upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC005DMt Thirsty · manganeseGrade: 0.13Grade Unit: %Intercept: 48 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC005D
- Project
- Mt Thirsty
- Commodity
- manganese
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.13
- Grade Unit
- %
- Intercept
- 48 m
- From
- 2 m
- To
- 50 m
- Intercept Depth
- 2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC005D:2-50
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC005D: 48.0m @ 0.08% Co, 0.44% Ni, 0.13% Mn and 47.6 g/t Sc from 2m, including 6m @ 57.4 g/t Sc from 5m (near-surface upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC005DMt Thirsty · scandiumGrade: 47.6Grade Unit: g/tIntercept: 48 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC005D
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 47.6
- Grade Unit
- g/t
- Intercept
- 48 m
- From
- 2 m
- To
- 50 m
- Intercept Depth
- 2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC005D:2-50
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC005D: 48.0m @ 0.08% Co, 0.44% Ni, 0.13% Mn and 47.6 g/t Sc from 2m, including 6m @ 57.4 g/t Sc from 5m (near-surface upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC005DMt Thirsty · scandiumGrade: 57.4Grade Unit: g/tIntercept: 6 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC005D
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 57.4
- Grade Unit
- g/t
- Intercept
- 6 m
- From
- 5 m
- To
- 11 m
- Intercept Depth
- 2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC005D:5-11
Location
- Location
- Upper Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical sub-interval shows an exceptionally high scandium grade, highlighting a high-grade core within the broader mineralization, but it is not new information.
Positive factors
- Very high scandium grade within a broader intercept.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“including 6m @ 57.4 g/t Sc from 5m (near-surface upper zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC006DMt Thirsty · cobaltGrade: 0.05Grade Unit: %Intercept: 70 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC006D
- Project
- Mt Thirsty
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.05
- Grade Unit
- %
- Intercept
- 70 m
- From
- 3 m
- To
- 73 m
- Intercept Depth
- 3 m
Classification
- Sample Type
- drill
- Group ID
- MTRC006D:3-73
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC006D: 70m @ 0.05% Co, 0.45% Ni, 0.47% Mn and 36.3 g/t Sc from 3m, including 26m @ 28.2 g/t Sc from 47m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC006DMt Thirsty · nickelGrade: 0.45Grade Unit: %Intercept: 70 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC006D
- Project
- Mt Thirsty
- Commodity
- nickel
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.45
- Grade Unit
- %
- Intercept
- 70 m
- From
- 3 m
- To
- 73 m
- Intercept Depth
- 3 m
Classification
- Sample Type
- drill
- Group ID
- MTRC006D:3-73
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC006D: 70m @ 0.05% Co, 0.45% Ni, 0.47% Mn and 36.3 g/t Sc from 3m, including 26m @ 28.2 g/t Sc from 47m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC006DMt Thirsty · manganeseGrade: 0.47Grade Unit: %Intercept: 70 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC006D
- Project
- Mt Thirsty
- Commodity
- manganese
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.47
- Grade Unit
- %
- Intercept
- 70 m
- From
- 3 m
- To
- 73 m
- Intercept Depth
- 3 m
Classification
- Sample Type
- drill
- Group ID
- MTRC006D:3-73
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC006D: 70m @ 0.05% Co, 0.45% Ni, 0.47% Mn and 36.3 g/t Sc from 3m, including 26m @ 28.2 g/t Sc from 47m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC006DMt Thirsty · scandiumGrade: 36.3Grade Unit: g/tIntercept: 70 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC006D
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 36.3
- Grade Unit
- g/t
- Intercept
- 70 m
- From
- 3 m
- To
- 73 m
- Intercept Depth
- 3 m
Classification
- Sample Type
- drill
- Group ID
- MTRC006D:3-73
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical near-surface intercept shows good scandium grades over a significant width, indicating potential, but it is not new information.
Positive factors
- Significant intercept length with good scandium grades.
- Near-surface mineralization.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC006D: 70m @ 0.05% Co, 0.45% Ni, 0.47% Mn and 36.3 g/t Sc from 3m, including 26m @ 28.2 g/t Sc from 47m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC006DMt Thirsty · scandiumGrade: 28.2Grade Unit: g/tIntercept: 26 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC006D
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 28.2
- Grade Unit
- g/t
- Intercept
- 26 m
- From
- 47 m
- To
- 73 m
- Intercept Depth
- 3 m
Classification
- Sample Type
- drill
- Group ID
- MTRC006D:47-73
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical sub-interval shows a good scandium grade within the broader mineralization, but it is not new information.
Positive factors
- Good scandium grade within a broader intercept.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“including 26m @ 28.2 g/t Sc from 47m”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC009DMt Thirsty · nickelGrade: 0.28Grade Unit: %Intercept: 21.8 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC009D
- Project
- Mt Thirsty
- Commodity
- nickel
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.28
- Grade Unit
- %
- Intercept
- 21.8 m
- From
- 268.2 m
- To
- 290 m
- Intercept Depth
- 268.2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC009D:268.2-290
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows high scandium and good nickel grades at a deeper level, indicating potential for a lower zone, but it is not new information.
Positive factors
- High scandium grade at depth.
- Good nickel grade.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC009D: 21.8m @ 0.28% Ni and 49.8 g/t Sc from 268.2m (lower zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC009DMt Thirsty · scandiumGrade: 49.8Grade Unit: g/tIntercept: 21.8 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC009D
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 49.8
- Grade Unit
- g/t
- Intercept
- 21.8 m
- From
- 268.2 m
- To
- 290 m
- Intercept Depth
- 268.2 m
Classification
- Sample Type
- drill
- Group ID
- MTRC009D:268.2-290
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows high scandium and good nickel grades at a deeper level, indicating potential for a lower zone, but it is not new information.
Positive factors
- High scandium grade at depth.
- Good nickel grade.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC009D: 21.8m @ 0.28% Ni and 49.8 g/t Sc from 268.2m (lower zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC007DMt Thirsty · nickelGrade: 0.26Grade Unit: %Intercept: 33.5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC007D
- Project
- Mt Thirsty
- Commodity
- nickel
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 0.26
- Grade Unit
- %
- Intercept
- 33.5 m
- From
- 237.5 m
- To
- 271 m
- Intercept Depth
- 237.5 m
Classification
- Sample Type
- drill
- Group ID
- MTRC007D:237.5-271
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows good scandium and nickel grades over a significant width at depth, indicating potential for a lower zone, but it is not new information.
Positive factors
- Good scandium and nickel grades at depth.
- Significant intercept length.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC007D: 33.5m @ 0.26% Ni and 35.8 g/t Sc from 237.5m (lower zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
MTRC007DMt Thirsty · scandiumGrade: 35.8Grade Unit: g/tIntercept: 33.5 mHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Hole ID
- MTRC007D
- Project
- Mt Thirsty
- Commodity
- scandium
- Region
- australia_wa
- Reported Region
- australia_wa
- Ticker
- CNJ
Geometry
- Grade
- 35.8
- Grade Unit
- g/t
- Intercept
- 33.5 m
- From
- 237.5 m
- To
- 271 m
- Intercept Depth
- 237.5 m
Classification
- Sample Type
- drill
- Group ID
- MTRC007D:237.5-271
Location
- Location
- Lower Zone
- Loc. Source
- document
QA/QC
- QA/QC Methods
- standards
Compositing
- Dilution Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Interp. Status
- scored
- Historical
- Yes
- Historical Source Date
- 2023-01-23T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This historical intercept shows good scandium and nickel grades over a significant width at depth, indicating potential for a lower zone, but it is not new information.
Positive factors
- Good scandium and nickel grades at depth.
- Significant intercept length.
Negative factors
- Results are historical, from 2023, reducing novelty.
Evidence · text
“MTRC007D: 33.5m @ 0.26% Ni and 35.8 g/t Sc from 237.5m (lower zone)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Stale Data Re-releasenegative
Historical results re-announced with no new assays or reinterpretation — low genuine novelty.
Why it applies: the fact restates a prior release
Resource Estimates (3)
Fact 1Mt Thirsty Project · cobaltTonnes: 66200000Grade: 0.06Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mt Thirsty Project
- Commodity
- cobalt
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CNJ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:190b4019391cbb5932ae
Resource Data
- Tonnes
- 66200000
- Grade
- 0.06
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2023-04-26
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-04-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical resource estimate from 2023, and the specific resource category (Measured, Indicated, Inferred) is not disclosed, which limits its current utility and confidence.
Negative factors
- Resource category (Measured, Indicated, Inferred) not specified, limiting confidence.
- Estimate is historical, from 2023, reducing novelty.
Evidence · text
“JORC Resource of 66.2 million tonnes @ 0.06% cobalt, 0.43% nickel and 0.45% manganese (see ASX Announcement: CNJ 26/4/2023)”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.4 years before this release
Fact 2Mt Thirsty Project · nickelTonnes: 66200000Grade: 0.43Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mt Thirsty Project
- Commodity
- nickel
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CNJ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:190b4019391cbb5932ae
Resource Data
- Tonnes
- 66200000
- Grade
- 0.43
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2023-04-26
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-04-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical resource estimate from 2023, and the specific resource category (Measured, Indicated, Inferred) is not disclosed, which limits its current utility and confidence.
Negative factors
- Resource category (Measured, Indicated, Inferred) not specified, limiting confidence.
- Estimate is historical, from 2023, reducing novelty.
Evidence · text
“JORC Resource of 66.2 million tonnes @ 0.06% cobalt, 0.43% nickel and 0.45% manganese (see ASX Announcement: CNJ 26/4/2023)”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.4 years before this release
Fact 3Mt Thirsty Project · manganeseTonnes: 66200000Grade: 0.45Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Mt Thirsty Project
- Commodity
- manganese
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- CNJ
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- Resource group id
- resource:190b4019391cbb5932ae
Resource Data
- Tonnes
- 66200000
- Grade
- 0.45
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2023-04-26
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2023-04-26T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical resource estimate from 2023, and the specific resource category (Measured, Indicated, Inferred) is not disclosed, which limits its current utility and confidence.
Negative factors
- Resource category (Measured, Indicated, Inferred) not specified, limiting confidence.
- Estimate is historical, from 2023, reducing novelty.
Evidence · text
“JORC Resource of 66.2 million tonnes @ 0.06% cobalt, 0.43% nickel and 0.45% manganese (see ASX Announcement: CNJ 26/4/2023)”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.4 years before this release
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.