Silver Lake then Chalice as a key shareholder Thanks ksvs - I'd forgotten about Chalice buying in, in my pre 30 June haste - and about the link to Silver Lake). A piece of trivia - I recall that our prior Chairman (departed in November 2023) was on the Silver Lake Board some years back... Re Chalice - yes they did so well at Gonneville - a lot of companies had looked around that area before, which highlights a point made by ozblue a few days ago: "There are always hundreds of thousands of sq km of ground that anyone can go and stake a tenement over, and there will be some great minerals under some of it, not yet discovered, nor thought worthy of looking there." Skill + application + a team + a bit of luck So you need a competent team, hard work and perseverance normally, and a bit of luck. Our team seem to be very competent and thorough, so we've got the 2 big ticks there. For example, while I'm hesistant to mention any one person, I occasionally re-read with a smile the CV of our much-respected Non-Exec Director Jon Hronsky. There is much in his approach that obviously is consistent with his days as a highly-regarded member of the exploration team at Western Mining Corp. ("WMC") that for example discovered Nebo-Babel in the West Musgraves. WMC reminds me of so many seminal mineral discoveries including one IOCG deposit in particular. We're chasing IOCG targets too, so our recent niobium rich REE discovery may not be the only pebble on the beach.
Western Mining Corp (WMC) and Olympic Dam - the world's greatest IOCG deposit I'm old enough to have been buying stocks when WMC, as Australia's greatest ever exploration company (and one of the world's best ever IMO), was in its heyday. I remember the 1975 discovery of the world's greatest IOCG deposit, the breathtaking Olympic Dam mine at Roxby Downs in South Australia. It hosts, in one deposit, the world's largest uranium deposit + the world's 4th(?) largest copper deposit + over 90 million oz of gold as I recall + a whole lot more. And it's still open at depth. I'll run out of superlatives if I try and describe it fully. I often dreamed of hitting a big jackpot with a good investment... David Upton's fantastic book If you've ever daydreamed about astonishing mineral discoveries and the wealth and opportunity they create - and how the discovery came about - you MUST buy a copy of David Upton's book "The Olympic Dam Story - How Western Mining Conquered the Odds to Discover and Develop the World's Largest Mineral Deposit". Beats anything you'll ever see on the idiot box. A link follows. Looks like $50 inc. post, straight from the author. (Rare as rocking horse shite at usual book sites ...) Great value - and a tax deduction? It should be compulsory reading for every would-be explorationist. https://precompetitive-review.com/olympic-dam/
Relevance to Encounter The remarkable success of WMC resulted from many things lining up - and it took a while for the company to make the multiple major discoveries that made it a household word for many years. The many fantastic discoveries showed that it wasn't just luck.
The team at Encounter knows better than most what are the likely ingredients for big success and seem to me to be committed to trying to make it happen, within the constraints of modern day exploration budgets and short-term thinking by most investors. Whether we hit a Luni scale jackpot remains to be seen. I think we will, FWIW, but I'm an optimist who tries to be diligent. More significantly, there's no doubt that the capability and approach of the ENR team has influenced multi-billion $ miners to JV on Encounter ground. Perhaps it influenced WA1 to peg next door to Encounter as well, enabling their discovery of Luni? Whatever motivated them, thanks for shining such a bright light on the area!
Since our team is getting stuck into drilling this obviously very exciting acreage (which the spectacular Luni discovery literally abuts right up to) I'm very, very happy to have a ticket to ride. PJL100 - loved your Post #: 74529438. 1978 La Tache - Holy Hannah. Very kind of you mate to share some with me. A 1990 would be nice, too. Failing either of those, Winestar, has 2 bottles left of the 2018. Hot year - great potential and Grand Cru reds starred. Buy 'em both and get $30k in points on your credit card ;-). Cheers, La Tache
ENR Price at posting:
74.0¢ Sentiment: Buy Disclosure: Held
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