Always appreciate the commentary of Wack/ Gassed and others on STK , particularly with the data that STK has compiled from the past drilling season , and as it will no doubt report on the scope of the new drilling programme to be undertaken .
Easter offers a good time to reflect , on which gold juniors offer the best potential upside from here ..and surely STK remains one of THE STANDOUTS !!
Appears the STK share price is now coming off its retracement base ...and no doubt STK will be keen to ensure the holders of 15th May 2024 listed options will exercise them ( as they should ) . I think this should raise about a further $5 mill , if all are exercised (???)
Would be good to see STK do a recap soon , of how the programme of expenditure outlined on the 26th June 2023 upon the sale of Millrose , is "tracking" 9 months since the sale occured .
When you review exploration results since Millrose was sold ( and some of the historic intersectuions within them ) , you would hard pressed not to be convinced that Northern Star would be not be keenly watching what STK are able to build on with this new drilling campaign .Can't help but think that Miillrose is only but a small part of a much bigger gold complex here .Fingers crossed >Hope STK holders have an enjoyable Easter .
See Edit below :
Proceeds from the Transaction
Following completion of the Transaction, the Company will retain its Horsewell, Dusk til Dawn, Yandal East, Baxters
and Iroquois Projects (Existing Projects) which are proximal to the Millrose Project and all located in the highly gold
endowed Yandal Greenstone Belt in Western Australia. Strickland’s focus will be to aggressively upgrade its portfolio
of gold prospects to a standard similar to that of Millrose.
Within the first 12 months following the Transaction, the Company intends to use funds received under the
Transaction to:
(a) undertake large scale RC and diamond drill programs at the Company’s Horse Well Project, the Cowza prospect
(contained within the Yandal East Project) and the Dusk til Dawn Project. Over the following twelve months, the
Company has planned for 3,500m of diamond drilling and 25,000m of RC drilling, amongst other types of
exploration programs;
(b) aggressively upgrade its portfolio of gold prospects to mineral resource status (as it has done with the Millrose
Project);
(c) undertake a 1,500m diamond and 5,000m RC program, commencing at the Horsewell Project;
(d) continue base metal exploration at its Iroquois zinc-lead Project; and
(e) assess new opportunities for the Company.
The Company provides the following indicative use of funds received under the Transaction:
Use of Funds Expenditure
Existing Project Year 1 Exploration(1) $18,000,000
Year 2 Resource Definition(2) $11,000,000
Future Acquisitions(3) $7,000,000
Working Capital(4) $5,000,000
TOTAL $41,000,000
Notes:
1. The Existing Project Year 1 Exploration is summarised above.
2. The exact composition of exploration programs in year 2 is contingent on the outcomes of the exploration programs in year 1. The
composition of the Yandal and Iroquois programs in year 1 are designed to undertake a large-scale, systematic approach over various
advanced target areas. In anticipation of this work leading to further gold and base metal discoveries during year 1, it is expected a
further ~$11m would be spent on resource definition drilling during year 2.
3. The Company has set aside $7m for future acquisitions. No transactions are currently being contemplated.
4. The balance of the funds (~$5m) would be held for working capital.
The above use of funds is indicative and subject to change.
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Last
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Mkt cap ! $169.7M |
Open | High | Low | Value | Volume |
10.0¢ | 10.5¢ | 10.0¢ | $353.6K | 3.490M |
Buyers (Bids)
No. | Vol. | Price($) |
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15 | 3123520 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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10.5¢ | 797924 | 8 |
View Market Depth
No. | Vol. | Price($) |
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15 | 3123520 | 0.100 |
3 | 1065000 | 0.099 |
2 | 10605 | 0.098 |
1 | 50000 | 0.097 |
1 | 30000 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.105 | 797924 | 8 |
0.110 | 226919 | 6 |
0.115 | 250000 | 3 |
0.120 | 336666 | 4 |
0.125 | 298750 | 8 |
Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
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