Ann: WMG Secures $6m At-Call Funding Facility, page-37

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Western Mines Group (ASX:WMG)

WMG’s exploration team is led by well-known nickel expert Dr Ben Grguric, who previously worked at BHP’s nickel operations.

The company owns the Mulga Tank project, which unveiled the discovery of a major komatiite hosted nickel sulphide mineral system under cover in WA.

“We believe it is an exceptional project with a globally significant exploration target of 350Mt to 2,200Mt at 0.24- 0.35% nickel,” Faulkner says.

“WMG has continued aggressive exploration regardless of the noise and negative sentiment in the nickel market at the moment.

“Many juniors flip around to the 'hottest' commodity whereas WMG has been dedicated to exploration at Mulga Tank over three years as it’s a world-class quality project and this has paid off for them,” he says.

“Highly successful exploration results from the first drill hole have found millions of tonnes of contained nickel in sulphide form and there aren’t many other companies that have deposits like this in Australia apart from Mt Keith, owned by BHP.

“In fact, Mulga Tank is very similar to Mt Keith and a perfect asset for the likes of a major mining company in time as the project continues to develop.”

Sanlam Private Wealth was lead manager to the IPOs of the companies listed above and earned fees from those and other capital-raising services. Sanlam staff and Ben Faulkner are also shareholders of all three companies mentioned above.