I attended the AGM yesterday with 5 other shareholders in attendance. From my notes:
How much in the bank: $1.3million
How many shareholders: 4600
HPA: Mothballed, pilot plant all packed and stacked. With HPA they had technical success, not commercial success. Doug had no luck with HPA companies’
HPA research etc. they spent $2.5 million nett.
Company bought up as much ground as they could in TC about 5 years ago. They have spent $1.2 million on pegging.
Next 12 months TC will be their priority
Will be doing an Induced Polarisation IP in the next 3 months on TC, then hopefully drilling in the next quarter after March 2023
Company bought up as much ground as they could in TC about 5 years ago. They have spent $1.2 million on pegging.Next 12 months TC will be their priority
Need a large cashed up JV party for Speewah to go forward.
SPEEWAH
Page 6 Quarterly activity report 30-09-2022 (Release date: 25-10-2022)
Vanadium-Titanium-Iron deposit and has initiated discussions with a number of potential buyers and/or partners. The Company has also released drill core and concentrate samples to those interested in further assessment with their own studies.
TENNANT CREEK
In regards to the TC lease TB showed on screen the images that were in the Quarterly activity report 30-09-2022. I have copied and pasted from that activity report, what he was referring to yesterday.
Quarterly activity report 30-09-2022 (Release date: 25-10-2022)
The priority is the Lone Star East prospect where magnetic imagery shows that the same stratigraphy that hosts Tennant Minerals Bluebird deposit strikes directly onto King River’s ground and a number of significant gravity anomalies have been identified.
Tennant East Project (EL31619) situated only 3km along strike of the geophysical units that host Tennant Minerals Bluebird discovery where diamond drill intersection of 63m @ 2.1% Cu copper and 4.6gpt Au from 153m including 27.55m at 3.6% Cu and 10gpt Au and 7m at 38.5gpt Au was returned (TMS ASX release 17 August 2022). King River’s ground is also directly along strike of the Lone Star IOCG trend that hosts Emmerson’s Mauretania deposit, the Blue Moon, Gigantic and Metallic Hill historic mines as well as multiple other prospects and historic workings (all within 1km of the tenement boundary).
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