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PUR's "Julimar Discovery" in Calingiri East?, page-32

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Pensive

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28/02/21

00:15

Post #: 51393222
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Originally posted by tretchikoff: ↑

Yes Im no expert Pensive but a frequent and keen watcher of events in this zone.

Its probably DEV /ASQ JV you are thinking of.

DEV had/has a heap of leases in the area but saw fit to engage and enter into a fairly early agreement with ASX;ASQ the silica miner in a buy-in on their lease at Sovereign Hill.

So DEV have had already a lease outright at Sovereign Hill and now also a lease that is a JV.

Its a buy in on quite good terms but it was arranged early, I don't know if they would get those sort of terms out of anyone now.

If curious again look at DEV announcements.

Ok so two brief bits of background that may clear the picture for PUR holders who know little or nothing about Tim Goyder or his companies.

He West Aussie, older, successful, a well to do mining go getter who is No1 Shareholder and Chairman of Chalice, Liontown and DEVEX.

He owns 12-20 percent of all of these.

The companies occupy the same office building in Subiaco, have the same secretary answer the phones and sharing a Chairman, well there can be no real secrets between the companies.

So Liontown and Devex obviously would have gotten a heads up when Chalice made its breakthrough discovery.

Chalice pegged a lot of really prospective land early but so did DEV and LTR.

What has thisto do with PUR and Sovereign Hill or as it is confusingly known here Cal West?

Ok we need to consider DEV saw fit to not only peg their portion of Sovereign Hill early (the bit they own outright) but not long after they extended their exposure in that patch early by committing to buy into ASX;ASQs lease as well.

This is all stuff that PUR is on top of, literally. (Cal West)

DEV have several leases in the general zone as maps most have seen show, even one just to the south along strike from Chlaices first Julimar hit.

So close I reckon Roger Daley with a bottle of Vodka under his belt and a backwind could drive from the Julimar strike to DEVEXs southern lease boundary, that particular lease is really close.

Yet DEVEX are committed to drill Sovereign Hill (which is considerably further north) first and indeed are expanding their exposure in that patch before drilling.

And Chalice are expanding exploration that way (Northward) with their move into Julimar Forrest.

Bodes very well for what they think of their chances at Sovereign Hill.
Which in turn looks really good for PURs chances considering they have a lease on basically the same PGE deposit.

Potentially....drilling will prove if its a potential deposit or an actual deposit but that drilling is going on currently.

Hope that all makes sense, Im watching Death in Paradise out of one eye while typing and drinking a sly stout at the same time...who said men can't multi skill?! ha ha!

Anyway if curious or unclear read a couple of DEVs announcements around its decision to buy into ASX;ASQs Sovereign Hill lease to expand its footprint at Sovereign Hill. It was/is a very bullish move.

Expand

haha, very nice tretch!
first of all thanks for taking the time with that post, very informative, you bring a wealth of knowledge into the background of the explorers in the area, which is very valuable information for the average holder!

Secondly, I am joining the dots here (I think) and looks like DEV and CHN could be working together to some degree (wether intentional or not) and looks like they are pinpointing around the Calingiri west tenement of PUR to the northern end of CHNs new state Forrest tenement!?
(correct me if I’m wrong)
I would also presume Tim Goyder would be pushing this, having a substantial interest in DEV and CHN...

On a side note, it will be interesting to see if PUR has any new substantial holders in the coming weeks, and could be an indication of where the ones in know think PUR are heading....

PUR Price at posting: 6.1¢ Sentiment: Buy Disclosure: Held
15 Upvote

0 Great analysis

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