STK 5.00% 10.5¢ strickland metals limited

Ann: First Two Diamond Rigs Arrived at Rogozna Project, page-9

  1. 3,082 Posts.
    lightbulb Created with Sketch. 8359
    Agenda??? "excellent potential to grow the already substantial Mineral Resource" Flog??

    Now what is wrong with that.

    A very successful approach STK has used before.

    Acquire Millrose mid 2021 and FLOG for a tidy profit mid 2023.

    Acquisition announcement 23/6/2021
    Spent money in 2022, which showed a laterite resource, continuity to depth, Wanamaker Baxter (satellite deposits? - haven't looked at details) and got NST interested enough to do what is considered by most (all) here to do a good deal.
    Sale announcement 26/6/2023 almost 2 years to the date from acquisition.

    I agree this is a likely route for STK to follow over the next two years or so.

    Anyone unhappy if the model works again?

    =======================
    Would not expect much change out of $1B likely to get a mine up and running here. Not something STK/Ibaera are likely to stump up.
    {Multiple underground zones, complex mett. Probably enough material already to warrant some sort of development at Shanac and CC albeit with confirmatory infill drilling to define at indicated and some resource.]

    With inflation any mine development is likely to be multiples of Adriatic's Vares project where grades are in the order of 3-5 g/t Au Eq depending on how it's calculated. Metallurgy may also be more straight forward than the variable deposits at Rogozna.
    ===============

    [@williams11 (think it was in a post of yours awhile back) is there a reference anywhere in announcements for refractory ore at Rogozna? Tough metallurgy is likely but I haven't seen refractory - may have missed it in the forest of data]


    Last edited by salpetie: 11/06/24
 
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