ESS 0.00% 50.0¢ essential metals limited

News: Pioneer Resources defines standout new nickel-copper target in Fraser Range, page-14

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    A little history of Pioneer for those that can’t be bothered to read past announcements.
    In 2012 they sold their Mt Jewell project for 8 million dollars. Later that year, they acquired the tenements of their Fairwater project from a privateer. They have VTEMed and sampled the Fairwater tenements and now we are getting to the pointy end, the drilling phase to see if we actually have a decent deposit of anything. The indicators are good though.
    To me the Dingo dam results are very good too. To have copper, gold and silver in rock chip samples from a gossan excites me a lot. As rocks on the surface usually represents what is below. Depending on the drilling results at Dingo Dam, Acra could take a back step in priority to Dingo Dam.
    The Blair Nickel project could be the one they try to cash in on quick, to raise cash to fund the above projects. I think they will either partner someone or sell it off. If Indonesia allows unprocessed pig nickel to be exported again, the nickel price will fall, potentially making Blair unviable in the short term. To get 2-5 million from the Blair nickel project would be very handy and avoid capital raising in the short term. PIO did have a small CR late last year raising about $430,000 and they another $1.2 million still to be paid for the Mt Jewell project in March next year.
 
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