MPJ - entry for STT FA and TA long
Market cap rougly 8million at 0.7c... 1.5m cash including recent capital raising and are fully funded to complete 10000m of diamond drilling. Drilling to start in first week of September.
MPJ is WA nickel focused exploration company with 3 core projects covering 1500Km and all 100% owned. I consider the geo team as super geo team including Neil Hutchison who was behind Windarra and Cosmos Nickel projects and Gold discoveries at Sandstone, Marymia Dome WA and Tanami Desert NT and Newexco Services which is behind Nova, Spotted Quoll and flying Fox Nickel deposits WA. The projects are Roe Hills, Fraser Range and Dingo Range, all 100% owned. Previous zones include 0.5m @ 6.15% Ni and 0.38% Cu. 2m @ 2.33% Ni and 1.29% Cu, 1.9m @ 1.65% Ni, 18m @ 0.66% Ni, 10m @ 0.65% Ni, 14m @ 0.57% ni and 28m @ 0.50% Ni... 3D modelling done and the targets identified based on it.
MPJ has developed a base at 0.7-0.8c and has had triple moving average crossover (4-week 9-week 18-week)... Expecting volume to be increased once drilling news is announced.
Holding MPJO, 1c June 16.
Red flag - 1.2B shares on issue.
