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The Aldoro Resources team visiting the Leinster Project, where the company expects to find nickel sulphide.
by William McInnes
Aldoro Resources managing director Bill Oliver hopes improved technology will allow the exploration company to find nickel and cobalt in parts of Western Australia, where others have tried and failed, to supply the ever-growing demand from battery makers.
The Western Australian based company holds an interest in four projects located in the state's Goldfields and Wheatbelt regions.
Mr Oliver said that many of these sites have been overlooked by recent exploration and that newer technology will allow them to better explore the sites. "There's a lot of missed opportunities and now there's new technology out there," he said. "Nickel sulphide is quite discrete in its depth so you might have not been able to see it with historical technology."
The junior exploration company is offering up to 25 million shares at 20¢ a share in a bid to raise up to raise up to $5 million. Mr Oliver said the offer may close earlier than its official July 30 end.
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Aldoro Resources managing director Bill Oliver has 20 years' experience in the resources industry.
"We've had very strong interest," he said. "The raise is pretty much done and dusted so we'll review the book and confirm if it meets the spread requirements so that we can close the raise early."
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The capital raised will be used to explore the mineral potential of its four sites, the Ryan's Find Project, Leinster Project, Karlgarin Project, and Cathedrals Project. Mr Oliver hopes to find nickel and cobalt, common components used in a variety of batteries.
"The resources industry is about trying to supply battery components, then maximise the efficiencies and cost profiles," he said. "Our job is to find these commodities and work out the cost of extraction.
"You have a number of technologies being developed and any one of these could be at the forefront. High purity nickel continues to be a common component through all batteries."
Mr Oliver, a former Rio Tinto executive, said that he thinks that the demand for battery technology will continue and this in turn will increase the demand for the minerals used in these products.
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"I think the world's going that way," he said. "You sit back as an individual and as a parent and you don't really want vehicles and power generators with a bunch of pollutants. Having said that I'm not an environmental prophet, I see our job is to supply the minerals and the resources to achieve their goals.
"I've been involved in other companies that are looking at commodities linked to energy storage. You're hedging your bets a bit across these commodities but you're letting the technology drive the market. Aldoro is the next one in the line."
As well as managing Aldoro Resources, Mr Oliver will be kept busy serving as managing director of Tando Resources, and non-executive director of Minbos Resources, Koppar Resources and Celsius Resources.
Mr Oliver said Aldoro would be attractive to investors because of its range of projects, the management team's track record.
Exploration would begin as soon as the offer ends. "We'll start on ground exploration very quickly after IPO," he said. "That will go into drilling in two to three months at the first prospect. We have some tenements that are granted and others that aren't."
Mr Oliver said capital would then be allocated depending on initial exploration results.
The offer is being managed by Xcel Capital. The company has no forecast earnings and no forecast dividends. Aldoro's directors will not hold shares in the company.
Aldoro Resources hoping for battery exposure with nickel, cobalt projects
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The Aldoro Resources team visiting the Leinster Project, where the company expects to find nickel sulphide.
by William McInnes
Aldoro Resources managing director Bill Oliver hopes improved technology will allow the exploration company to find nickel and cobalt in parts of Western Australia, where others have tried and failed, to supply the ever-growing demand from battery makers.
The Western Australian based company holds an interest in four projects located in the state's Goldfields and Wheatbelt regions.
Mr Oliver said that many of these sites have been overlooked by recent exploration and that newer technology will allow them to better explore the sites. "There's a lot of missed opportunities and now there's new technology out there," he said. "Nickel sulphide is quite discrete in its depth so you might have not been able to see it with historical technology."
The junior exploration company is offering up to 25 million shares at 20¢ a share in a bid to raise up to raise up to $5 million. Mr Oliver said the offer may close earlier than its official July 30 end.
https://www.copyright link/content/dam/images/h/1/2/p/e/u/image.imgtype.afrArticleInline.620x0.png/1531635981262.jpg
Aldoro Resources managing director Bill Oliver has 20 years' experience in the resources industry.
"We've had very strong interest," he said. "The raise is pretty much done and dusted so we'll review the book and confirm if it meets the spread requirements so that we can close the raise early."
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The capital raised will be used to explore the mineral potential of its four sites, the Ryan's Find Project, Leinster Project, Karlgarin Project, and Cathedrals Project. Mr Oliver hopes to find nickel and cobalt, common components used in a variety of batteries.
"The resources industry is about trying to supply battery components, then maximise the efficiencies and cost profiles," he said. "Our job is to find these commodities and work out the cost of extraction.
"You have a number of technologies being developed and any one of these could be at the forefront. High purity nickel continues to be a common component through all batteries."
Mr Oliver, a former Rio Tinto executive, said that he thinks that the demand for battery technology will continue and this in turn will increase the demand for the minerals used in these products.
https://www.copyright link/content/dam/images/h/1/2/p/c/n/image.imgtype.afrArticleInline.620x0.png/1531624999564.png
"I think the world's going that way," he said. "You sit back as an individual and as a parent and you don't really want vehicles and power generators with a bunch of pollutants. Having said that I'm not an environmental prophet, I see our job is to supply the minerals and the resources to achieve their goals.
"I've been involved in other companies that are looking at commodities linked to energy storage. You're hedging your bets a bit across these commodities but you're letting the technology drive the market. Aldoro is the next one in the line."
As well as managing Aldoro Resources, Mr Oliver will be kept busy serving as managing director of Tando Resources, and non-executive director of Minbos Resources, Koppar Resources and Celsius Resources.
Mr Oliver said Aldoro would be attractive to investors because of its range of projects, the management team's track record.
Exploration would begin as soon as the offer ends. "We'll start on ground exploration very quickly after IPO," he said. "That will go into drilling in two to three months at the first prospect. We have some tenements that are granted and others that aren't."
Mr Oliver said capital would then be allocated depending on initial exploration results.
The offer is being managed by Xcel Capital. The company has no forecast earnings and no forecast dividends. Aldoro's directors will not hold shares in the company.
