Hi @retrac,Thank you for the kind words.The prospect came to my...

Hi @retrac,

Thank you for the kind words.

The prospect came to my attention when the AC results were first released. The presence of Cu and PGE (and as yesterdays announcement mentioned Co) could only be sourced from a sulphide source. Given how close to the surface it is I also suspected it is very leached. The fact that the other AC holes along strike also hit gossan (how wide and at what grade not sure) is also very encouraging.

Given the tenor of Ni mineralisation at the A1 deposit , the abundance of gossan, the deep weathering and leaching (that likely precluded EM driven discovery in the past) and the speed with which the company pursued both the assays and the follow up program on the balance of probabilities with 9 RC holes drove me to conclude that the company would hit massive sulfides of good grade. How wide and how good is to be seen.

Ultimately, I responded to new data demonstrating the high potential of discovery and a value change catalyst.

I do not know anything about the companies other prospects or the management although the exploration manager appears to have experience with komatiite hosted systems with RXL. I remember those discoveries well.

Provided that they can demonstrate the presence of sulphides (this part seems to be a very high likelihood) with good Ni tennor (we will see) and then show depth continuity with that EM platform hole (we will see) then the potential of a few million tonnes at 5-7 % Ni can become a very good low capex earning proposition involving toll processing in Kambalda, or a small second hand plant.

Lots of questions still to be answered and this certainly could turn out to be a flash in the pan as NHK showed a few years ago although the persistence of gossan along strike bodes well for sulphide persistence at depth.

Cheers,
CC