The macro environment for copper has been looking bullish. I think Kingfisher has some good exposure to the sector through their exploration portfolio. I've acquired around 50% of what I intend to purchase and will add more on the start of drilling hopefully in coming weeks. My thoughts below.
*This information has been produced by myself. It is my own opinion, not financial advice.
CORPORATE SNAPSHOT Market Cap - A$10.5m Cash - A$5.5m Shares on issue - 42,250,001
CHART SNAPSNOT The chart is sitting just under resistance of 27.5c. There is less than 4 months of trading history on KFM but the chart shows strong support at 25c. A few failed breakout attempts and long period of consolidation.
FLAGSHIP BOOLALOO PROJECT Kingfisher has a 100% interest in the Boolaloo copper-gold targets located 160km west of Parabudoo and 35km southwest of Paulsens gold mine. The project has 22 mineralised targets with only 6 previously drilled. All returned significant results. There is 30kms of strike at Boolaloo with highest recorded assays of 54.5% Copper, 8.06g/t Gold and 103g/t Silver.
GASCOYNE MINERAL FIELD This comprises of the Kingfisher, Mick Well and Arthur River projects. The mineralised zone is 2km long exposed in shallow historical mining pits. Rock chip samples up to 10.55% Copper have been taken over a strike length of 1km and up to 10m in widths. There is also potential for REE and Uranium.
PROJECT DEVELOPMENT Kingfisher have a full work program with drilling and airborne geophysics at both Boolaloo and Kingfisher / Mick Well. I saw that in the presentation drilling was meant to have started already so I reached out to them to inquire. The drill rig is booked but not mobilized yet. They are waiting for the ground to dry from some recent wet weather, likely 1-2 weeks. The good news is the airborne EM surveys are booked in for Kingfisher / Mick well.
I like that the stock has less than 50m shares on issue, $5.5m in cash and exposure to Copper, Gold, Silver, REE and Uranium.
KFM Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
