STTCOMP NML, FA Long
(ASX: NML – NAVARRE MINERALS LTD)
SP: 4c
MC: $ 5.9 Million
Cash : $1.4 Million AUD as at 30th September 2016
Shares: 147,515,725
Top 20: 48%
Website: www.navarre.com.au
Navarre Minerals Limited (ASX: NML) is an Australian-based resources company that is creating value from a portfolio of early to advanced stage gold and copper projects in Victoria, Australia. Navarre is searching for gold deposits in the extension of a corridor of rocks that host the Stawell (~5 million ounce) and Ararat (~1 million ounce) goldfields.
The discovery of outcropping gold at the Irvine prospect is a prime focus for the Company in 2016/17. This is located 15km south of the operating Stawell Gold Mine which is owned by Navarre’s largest shareholder and leading Victorian gold producer, Newmarket Gold Inc. At the high-grade Tandarra Gold Project exploration work is targeting the next generation of gold deposits under shallow cover 40kms north of the 22 million ounce Bendigo Goldfield.
Under a farm-out agreement, Catalyst Metals Limited is earning a 51% equity interest in Tandarra by spending $3 million over four years by advancing the project towards mineral resource status. The Company is also targeting large VMS, porphyry-copper and gold deposits. The Western Victoria Copper Project captures multiple, largely untested targets in 130km of western Victoria’s Stavely Arc Volcanics.
Catalysts:
http://hotcopper.com.au/threads/ann...nml-ax.2945588/?post_id=19649480#.WAsfUOh96Uk
4th October and the Company advises that drilling of 12 targets is to begin shortly and they have not previously been drill tested, except for one which returned 0.5m @7.2 g/t gold 86.5m and remains open in all directions.
Please refer to the link above for details.
13th October the Company then updates the market advising that the ASX has granted a waiver in “connection with the Company’s notice of meeting for its 2016 AGM to seek shareholder approval for the issue of shares in lieu of accrued but unpaid Directors Fees……….”
http://hotcopper.com.au/threads/ann...nml-ax.2960822/?post_id=19820582#.WAsiBOh96Uk
Interesting...Firstly how refreshing to see that some Directors and Non-Ex Directors actually sacrifice their own remuneration for 2 years so that the Company can move forwards. So they imo are well and truly deserved of an allocation of shares representing no more that 4.3% of the Companys' undiluted issued capital.
The timing however of this announcement re remuneration in conjunction with the announcement that drilling is about to begin sends a strong message to the market that these guys are happy to make sacrifices for the good of the Company. May they be rewarded for their acts.
http://hotcopper.com.au/threads/ann...nml-ax.2943473/?post_id=19627130#.WAsjLuh96Uk
Investor Presentation Above from 5.10.16
Please DYOR as this is not a buy or sell recommendation
Cheers
GF
