Once upon a time Pepininni (as it was called) was lauded for its engagement/relationship with Indigenous groups. The fact Pink Slipper exploratory drilling has been held up indefinitely is a red flag on new management (Mena). This target is so impelling and a possible win/win for all. The current dismal $10M EV MC could be attributed to this project (JV with RIO) alone.
Pink Slipper target...
"In upcoming exploration at Musgrave, Power will focus on the high-priority Pink Slipper target.
The company believes it has potential to host mineralisation similar to the Voisey’s Bay and Nova-Bollinger.
Pink Slipper is a geophysical anomaly and the CSIRO defined the target via airborne electromagnetic surveys in 2019.
The target covers 615sq km and is located on four exploration licence applications that also make up the Musgrave project.
Power has a 51% equity in Pink Slipper under a joint venture with Rio Tinto (ASX: RIO).
Prior to being able to get on the ground at Pink Slipper, Power and Rio Tinto are required to secure an exploration deed with the traditional land owners.
Preparations have begun to enter into informational meetings with traditional owners."
Nearology with WA1 (Niobium), Andromeda (Kaolin/Halloysite) and multiple near term DLE Li projects just ain't exciting the market. Dubious board structures casting doubt too. SUMthing for prospective investors to be aware of. Currently cashed up so perhaps worth a punt at these levels. (Not investment advice.) GLTAH.
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