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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.
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