Ann: 2021 AGM Chairmans Address, page-16

Makes no sense atm Pedro surely an acquisition is on its way also...

MoneyTalks: It’s getting harder to find good ASX resources stocks but here’s one fundie’s picks

Talisman Mining (ASX:TLM)

Talisman is an iron ore play that makes money by developing projects and selling them off – sometimes returning capital to their shareholders – eerily similar to Chalice (ASX:CHN) before it stumbled across Julimar.

And Baker names Talisman as an ASX resources pick because of one particular product it sold for over $40 million million a decade ago – the Wonmunna Iron Ore Project.

While the project has changed hands a few times, Talisman has been receiving a 1 per cent royalty ever since. Wonmunna is currently in the hands of Mineral Resources (ASX:MIN) which began production in March, expecting an initial run rate of 5 million tonnes per annum.

“Iron ore can’t stop, won’t stop no matter what the Chinese try to do at the moment,” he said.

“I look at sum of the parts [and at the] current price we haven’t seen the full value reflected based on weighted sum of various scenarios.

“You’re getting paid for the market to wait to price the rate accordingly and get paid for its two tenements in NSW for copper and gold.

“[There are] some good indications they’re on the right path and bringing in $9 million for a $4 million project exploration budget.”

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