Backing management here & hopefully they can deliver within this prolific region.
I certainly wouldn't be discounting the nature of prospectivity for other battery metals, such as Li.
Refer to BNR recent successful exploration in the Ravensthorpe region.
Few of these notes will be outdated but it highlights what I believe to be the overall key components when both qualitatively & quantitatively justifying my own Investment Philosophy, in terms of seeking an A grade Nickel explorer in our backyard (AKA - AUS).
**Obviously, this is not intended nor can it be construed as Financial Advice & is general in nature. Nor am I holding myself out to be or the information to be considered as Financial Advice or a related or authorised representative of an AFSL related body.**
Highlights: - IPO'd in 2021 for 20c.- All Assets/Projects 100% owned.- All Assets/Projects located in Australia (WA).- All key brownfield projects are located on Mining Leases (Potentially fast tracking production).- Exhisting Ni Sulphide Dessiminated Deposit at shallow depths (RAV 8 Project)
= Mineral Resource of 13.2Mt @ 0.60% Ni for 75.1kt- Existing Ni Laterite Deposit at shallow depths (John Ellis Project).- Both deposits open down dip & RAV8 remains open up - RAV8 Deposit shows potential upside with significant Platinum Group Metals (PGM), Copper and Cobalt credits with individual assays up to 1.3 g/t palladium, 0.35% copper and 0.1% cobalt.- RAV5 Visual sulphides observed demonstrate the potential to define a maiden resource over a 400m strike and remains open down plunge to south east.- Bio-Leach Metallurgical process potentially being a gamechanger in the perspective of recoveries being low carbon footprint (Green Treatment).
- Infrastructure advantage, adjacent to FQM’s Ravensthorpe Nickel Operation (RNO) & nickel laterite resources (early takeover potential from M&A front) as John Ellis deposit has potential to extend FQM’s RNO operation by 2 to 3 years.Capital Structure/Capital Market:- Sprott Cornerstone Investment.- MM8 (spin off company located to the South of project focusing on Au) have 15.5% ownership (Tightly held).- 44mil Shares Escrowed for 24months since quotation.- 5mil Shares Escrowed for 12months since quotation.- 9mil Options Escrowed for 24months since quotation.(that's nearly 50% of total SOI escrowed for more than 12months from quotation).Management:- Experienced BoD who have commercialised Discoveries previously (S32 Executive & Previous Fox BoD member).- Experienced Management & Technical Team (Geologists/consultants from WSA Ni producer & focused on Area for decades).Near term News Flow:- 3500m RC drill programme finished, drilled RAV8, RAV5 and RAV4-West Projects, Assays Pending. - RAV4-West are encouraging and suggest potential for Extension of the Sulphide body to the East. - RAV8 hole NIS003 extended Mineralisation up plunge at Shoot 3, with 2m at 4.5% nickel within an interval of 5m at 2.6% nickel from 50m depth.- RAV8 hole NIS009 intersected 5m of 20% disseminated and semi‐massive sulphide at Shoot 1 from 207m depth. - RAV5 hole NIS014 intersected 6m of 60% massive, semi‐massive and disseminated pyrrhotite, pyrite and pentlandite from 50m depth.This highlights that mineralisation is continuous over a 400m strike length from surface and open at depth down plunge to the southeast.Visual sulphides observed at RAV5 demonstrate the potential to define a maiden resource. - Greenfield exploration targeting studies have identified Three New high potential targets at John Ellis, Serendipity and Sexton based on favourable geochemistry, historical ground EM and magnetic anomalies- Diamond drilling planned for Q1 2022 to test high‐grade zones in the five known deposits and high priority greenfield exploration targets.- High resolution, helicopter-borne, time domain, electromagnetic (EM) andmagnetic survey was initiated over the entire tenement package due Q1 2022.
Peer analysis, which doesn't reflect grade nor viability & includes numerous assumptions but it certainly illustrates the potential if we can successfully deliver resource expansion & extensions.
Backing management here & hopefully they can deliver within this...
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