Interesting write up from IRESS today kind regards to Barry...

Interesting write up from IRESS today kind regards to Barry

https://www.livewiremarkets.com/contributors/barry-fitzgerald

BATTERY MINERALS (BAT):
The broad share market selloff is resulting in there being more sub-$20 million caps among the junior explorers than there has been for a long time.
Having a sub-$20m market cap does not mean that the leverage to the upside which attracts investors to the space in the first place no longer exits. It just means that the leverage is now cheaper to acquire.
Battery Minerals (BAT) is a case in point. Its shares have retreated to all of 0,8c a share, giving it a market cap of $18.7m.
Like all of the juniors, its share price retreat is a result to the all-pervasive risk-off sentiment currently dominating market thinking. Yet BAT has three near-term newsflow events that could get it back in to the $20m-plus market cap club overnight.
The first is completion of the August 2021 deal to sell its Mozambique graphite assets to the London-listed Tirupati Graphite for $12.5m in cash and (mainly) shares. Completion of the deal is waiting on government approval.
The exit from Mozambique came with BAT’s pivot to gold/copper in western Victoria, and copper-nickel-cobalt-PGEs near Halls Creek in WA’s East Kimberley region. Drilling at both is planned to start in the September quarter, and both have the potential to excite for BAT with its modest market cap.
In western Victoria, rock chip samples have confirmed the presence of high grade gold (up to 430g/t) at Coxs Find. But more than that has been the scientific work highlighting the value of conducting detailed IP geophysics to define bedrock gold-sulphide drill targets.
BAT is doing just that by ordering up a survey as a precursor to drilling, likely in the September quarter. Any discovery won’t need to be on the big side of things to make a difference to BAT with its modest market cap.
Coxs Find is all of 10km from the privately-owned mine and treatment plant at the Stawell. So whatever it finds has a potential pathway to being monetised.
In the East Kimberly, BAT’s Russells copper-nickel project has been worked up to the drill ready stage with gee-whiz survey work completed after 30% copper rock chips were encountered last year.

It is an interesting one. Others had been keen to get their hands on it but tripped over at the heritage clearance phase. It’s another one with the potential to excite once drilling gets underway in the September quarter.