PTN 1.82% 5.4¢ patronus resources limited

Ann: Investor Presentation, page-29

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  1. 872 Posts.
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    I know there are some drilling results due soon, but some signs the board are playing a longer game and thinking big:

    The investor presentation had the first mention of the geophysics since the trial finished last November, unless I missed something. Back then they tested geophysics methods over known deposits. Must have been successful because now they anticipate geophysics will show structures beneath cover which has been transported (Ie alluvium doesn't reflect underlying rock). I am keen to see where that goes ... basically unexplored ground in a region in which there is gold all over the place. Obviously could be huge but a way to go yet.

    Another thing they said they would focus on is buying more ounces. If the SP goes into the 20's they can raise more for both exploration and acquisitions without huge dilution.. Magnetic Resources have some tenements to the NE of the Cardinia Gold project which got some attention a couple of years ago when large nuggets were found using doze and detect, but I don't think they have been drilling. More importantly to the NE there are Golden Mile Resources tenements around and N of Royal Harry, and then N of Mertondale NTM have Redcliffe. Both of those projects are exploration only, and it is hard to see where ore could be processed other than at Cardinia. The way I see it Kin has time on its side and a choice of 2 companies to negotiate with, neither of whom have any real alternative to Kin for processing.. In my mind both of those projects are pencilled in as future feed for a Cardinia mill, either to extend the life or perhaps to bring in some higher grade ounces early on.

    Kudos to the board for sticking to their plan ... shares are now trading above all four capital raises since the current board took over ( I think 11 c, 8.5 cents, 3.5 cents, 4.5 cents).

 
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