SMX strata minerals limited.

4.00%

1.3¢

Ann: Biranup Project Delivers High Grade Gold and Silver Results, page-9

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ProCapitalism

5,817 Posts.

1920

08/04/25

16:54

Post #: 78606862

Originally posted by TomGoldfinger: ↑

Financial Health Review (as of 31 December 2024)
Cash Position
Cash on hand: $1.97 million
Recent capital raise: $2.0M completed in Sept 2024; further $1.6M announced in Feb 2025 (Tranche 1 complete; Tranche 2 pending shareholder approval)
Cash burn (H2 2024): ~$658k operational + ~$90k investing = $748k total
Approx. monthly burn rate: $125k/month
Burn Rate vs. Cash
At $125k/month, current cash lasts ~15 months, excluding Tranche 2 equity raise.
If Tranche 2 closes, runway extends into late 2026.
Likelihood of Further Capital Raising
High probability of equity raising in 12–18 months depending on:
Drill success and resulting market re-rating
Potential shift to more aggressive exploration across Penny South and Biranup
Cash inflow tied to milestones (e.g., JORC Resource definition) could be strategic
️ Exploration & Project Summary
Penny South – WA
Maiden RC drill program (12 holes, ~2,583m) completed in March 2025
Targeting extensions of Penny West/North high-grade lodes (395koz @ 17g/t)
Assays pending (due April 2025); successful hits could significantly re-rate SMX
100% owned, ~2.5km strike of Penny West Shear
De-risked via drill-for-equity deal with Topdrill
Biranup (Black Dragon) – WA
Bonanza-grade surface rock chips up to:
218g/t Au, 302g/t Ag, 100ppm+ Te
4.5km structural trend near +5Moz Tropicana Gold Mine
No systematic RC or diamond drilling post-discovery
Very high upside, but exploration still at early stage
⚛️ Elliot Lake – Canada (Uranium/REE)
High-grade REE samples (up to 2,941ppm TREO)
Uranium anomalism confirmed (175ppm U₃O₈)
Exploration remains early-stage; currently non-core but could become thematic tailwind exposure
Peer Comparison
Company Market Cap (approx.) Flagship Asset Key Results Stage Comments
Strata (SMX) ~$5–6M (post placement) Penny South, Biranup Rock chips 218g/t Au, 12 RC holes drilled Early High-grade discovery optionality; assays pending
Carawine Resources (CWX) ~$15M Tropicana North Multiple >10g/t Au RC intercepts Resource definition Similar terrain, advanced drill stage
Breaker Resources (BRB) ~$120M Bombora 17m @ 5.1g/t Au Resource Resource stage, takeover target by Ramelius
Latitude 66 (proposed IPO) TBD Finland Au-REE-U Early-stage high-grade Au-REE hits Early Similar energy/REE narrative
TechGen Metals (TG1) ~$6M WA Ni/Cu/REE Early U-Au-REE sampling Early Thematic overlap
Recommendation
Hold-to-Accumulate: SMX offers asymmetric upside from nearology (Penny South) and bonanza surface results (Biranup), but success hinges on confirming continuity and scale via drilling. The company is funded for near-term exploration, but equity raising will likely recur in late 2025 or early 2026 depending on market reaction to upcoming results.

Expand

Links below.

https://www.linkedin.com/posts/strata-minerals-limited-asx-smx_strata-minerals-biranup-gold-project-unveils-activity-7315162516852994049-Ybed?utm_source=share&utm_medium=member_desktop&rcm=ACoAACoHc7UBcgnkBt4cf2NKL5qkY1rasePg1Mw

https://www.linkedin.com/posts/strata-minerals-limited-asx-smx_strata-minerals-pulls-high-grade-gold-silver-activity-7315256830383820801-uOyg?utm_source=share&utm_medium=member_desktop&rcm=ACoAACoHc7UBcgnkBt4cf2NKL5qkY1rasePg1Mw

Link to the above article below

High-Grade Gold Confirmed at Strata Minerals Biranup Project

SMX Price at posting: 3.1¢ Sentiment: Buy Disclosure: Held

8 Upvote

0 Great analysis

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Ann: Biranup Project Delivers High Grade Gold and Silver Results, page-9

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Buyers (Bids)

Sellers (Offers)

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Company	Market Cap (approx.)	Flagship Asset	Key Results	Stage	Comments
Strata (SMX)	~$5–6M (post placement)	Penny South, Biranup	Rock chips 218g/t Au, 12 RC holes drilled	Early	High-grade discovery optionality; assays pending
Carawine Resources (CWX)	~$15M	Tropicana North	Multiple >10g/t Au RC intercepts	Resource definition	Similar terrain, advanced drill stage
Breaker Resources (BRB)	~$120M	Bombora	17m @ 5.1g/t Au	Resource	Resource stage, takeover target by Ramelius
Latitude 66 (proposed IPO)	TBD	Finland Au-REE-U	Early-stage high-grade Au-REE hits	Early	Similar energy/REE narrative
TechGen Metals (TG1)	~$6M	WA Ni/Cu/REE	Early U-Au-REE sampling	Early	Thematic overlap

Ann: Biranup Project Delivers High Grade Gold and Silver Results, page-9

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