SUM 5.45% 26.0¢ summit minerals limited

Good morning all,A couple of points I wanted to make here.I...

  1. 298 Posts.
    lightbulb Created with Sketch. 159
    Good morning all,
    A couple of points I wanted to make here.

    I spotted a section that didn't make sense in my last post - should have read
    "They had both Windfall and ALSO Magwood, however under a different project name, Thunderbolts, EL7184 but never ended up pursuing them as they had another Antimony resource they were focusing on in the area that they even ended up generating a JORC resource on but they ended up being taken over and to the best of my understanding the tenement is still there in limbo until 2025"

    @Symxpnotic98
    from what I have read up on my deep dive on Hillgrove it has always been an underground focused operation even way back in the day targeting gold specifically with a side of Antimony. Its interesting you point out that you feel they got more Antimony than gold out of the resource. Can you shed any light on what the actual processing equipment on site is capable of?

    @thriftynifty
    anti-money may be the right description at the present moment, it definitely seems like the market isn't happy about SUM banging the Antimony drum opposed to releasing REE drill/testwork results. We have to consider the long game - Currently leading producers/exporters are China, Russia and Tajistan. Then Australia in 4th place and thats as a byproduct of our huge gold industry. If we focus on the long game and consider that refined high purity Antimony was $12000USD/ton in 2022 there is definitely upside especially with the west looking to secure supply chains, I guess profitability is subject to how difficult it is to process into a high purity product really. I still havn't come across any other companies on the ASX that have an Antimony pure-play project in the works, they're all gold producers.

    And in regards to the Morrocco Project - I have not yet done any serious research into the history or investigated the geology of that area so I can't comment too much, that's a job for this weekend if all goes to plan, however I was reading the original news release and this bit stood out.
    "The returned assays for the ten samplesranged from 100 ppm to a peak value of 61.9% Sb. Other significant values include 44.5%, 39.4%,5% and 1.9% Sb"
    Now obviously the company is going to put as much positive spin on results as they can get away with, however if they believe that a rock chip at 1.9% is a significant value, that does increase confidence in the results anounced for the Munga creek rock chip results in this threads announcement. Well it increases my confidence anyway.
    I might even send an email to Mr King directly and see if he is allowed to give the individual rock chip sample values from Munga Creek to get a better gauge on whats going on rather than the top results and a table of averages. That would be interesting.

    @Bruno81 The T20 is originally what caught my eye when I first started looking into these guys. I actually came across them by accident when I was investigating the South Gascoyne and spotted a tiny tenement tucked in the middle of RDT, VSR and RR1, that was our old Morrisey project. After doing more detective work on the names on the list I jumped in. Its hard to say who will still be in the list but I guess we will get an update in the annual report which we will see soon enough.

    Anyway. Thats enough for now. I'm back off to work now so ill check in here again tomorrow.
    Regards, OP.
 
watchlist Created with Sketch. Add SUM (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.