It's been months since i visited here but would appear TLM is still as under the radar as it was a while ago.
Also seems that the market was completely asleep on this announcement along with the prosperity of this project.
See below i've drawn a A to B line which delineates the viewing direction for the next image.
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For context 1% Cu is considered IMO to be the thumbsuck cutoff for economical grades. Now TM has 5%+ all through it. which for context is the same as the highest operating grade copper mines globally. Yes that's correct.
It appears that the high grade zone almost head as far south of dunbars and extends north to hilltop. The recent drill results suggest the not only is there stuff over at engine drill 36/37 go another 100m past that.
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There was 2 paragraphs which are the bombshells on the announcement which have went unnoticed.
"A priority, highly prospective mineralised corridor has now been defined over a strike extent of 800m which is
interpreted to represent a significantly larger copper mineralising system. This area has been elevated to a high-priority exploration target. Given the widespread distribution of shallow copper and gold mineralisation at Blind Calf, Talisman believes there is s
trong potential for a deeper source or feeder system which will be targeted with follow-up exploration."
Essentially instead of viewing this as discrete hits of mineralisation they believe a deeper system could be feeding the area across 800m strike. Now all of this is fairly well at surface.
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Now not only is this potentially a company making deposit if proven and extended but TLM have a real good suit of projects.
Hit gold with the first 2 RC drills at Cumbine.
Lucknow project - historically 100g/t grade mine. Missed the mark with v1 of drilling but confident they will hone in on further attempts.
17M MC with 10M cash in the bank brings them to EV of 7M. Which is very very low considering.
Royalty across 4 projects, gold, nickel (sinclair project bought by saracen as well as their waterloo project currently care and maintenance i understand), copper, iron. All very good commodities to be in.
Investing on the basis of the copper projects with further upside from the several other projects.
Risk i see as very low with the cash in the bank, no raises expected anytime soon.
Kerry at the helm as chairman and leading shareholder with 18% of the company. Former Jubilee head honcho after making eye watering money upon xstrata buyout means in good hands and a lot was his own coin invested.
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Above also has assisted with timing. TLM has been in a long term downtrend. But the weekly MACD and a very solid base has been formed at current levels.
stochastics oversold and MACD close to a cross after testing low 9's repeatedly.
View attachment 2949832
daily shows similar story, but IMO now entering oversold as well.
Ideally need to break the blue trend line IMO which would hot up the weekly T/A optics.
With the prevailing nickel price improving and major like BHP expanding in that space those 2 royalties could come to fruition in the near future from saracen.
Furthermore the copper project is potentially a company maker in itself. I'm not sure if people weren't sure what they were interpreting in the preliminary results but i'm happy to invest on those very high grades which are at surface and see what unfold at depth from the purported feeder system.
Maybe a left field acquisition or value accrediting project as well. With the cash on hand - i felt the risk is very very low. No CR for 24months or more IMO. The quarterly suggested 10 quarters which is 30months.
Have recommend a few other people to look into this. Will see if their initial DD aligns with mine. There are companies with no prospects for 7m EV. we've got 5% Cu grades at surface, and open at depth across 800m's of strike.
*Disclosure is buy as had some small orders go through. Have been quietly accumulating over last week or so.
SF2TH
(20min delay)