Who will ever forget October 1, 2020, when Estrella Resources struck nickel at T5 and saw their share price soar from 1 cent to 25 cents on that day?
This discovery of 3 meters of massive nickel sulphides, with assays of 3.66% nickel, put ESR on the map and earned that drill hole the nickname by Daws as the "250 million dollar hole."
The market cap of Estrella Resources rose from approximately AUD 10 million to AUD 250 million, a testament to Daws and Co's belief in their exploration strategy.
Timor Leaste 2025
In the next 30 days, you might see that "250 million dollar hole" surpassed, with Estrella commencing a first in country drill campaign in Timor-Leste.
This campaign is backed by Steve Warriner's guidance once again and promising rock chip readings over 55% Mg, as well as geophysical surveys. If this campaign yields results of hitting over 10 meters of high-grade manganese (we have seen outcrop images in announcements with high-grade manganese at or near the surface), I believe the market will once again take notice.
Could we see trading volumes exceeding 300 million shares in a single day? I believe so.
Sophisticated investors are positioning themselves in anticipation of the commencement of this drill campaign.
While I remain cautious not to directly equate the forthcoming campaign with the T5 discovery and its financial impact, the similarities in potential are undeniably simikar/compelling.
Good luck all shareholders!
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