STM (ASX) Ann: Presentation Resource Rising Stars Investor Briefing

Originally posted by Kalenn: ↑

A few points to add from conversations and my interpretation of what was said in the actual presentation.

El Palmar:

Geochem and magnetics interpretation work on the satellite deposits proceeding. Results for this process are all in hand as of yesterday. Teasing out answers now commences. There is a reasonable probability that the satellite deposits are actually connected to the main deposit at depth. This will become clearer over Q1 as the initial rig will also tackle satellite targets. Xmas break for everyone, 20th Dec - 4th Jan.

Assays on holes 4,5 and 6 in early Feb. Hole 7 now completed and being logged. I'd imagine it's assays not back until late Feb (seems to me to be approx 5-6 week turnaround on assays). Hole 8 underway. Significant intervals of mineralised core is apparent visually in all holes. Hole 9, the first of the deep holes, will start in the next day or two. Expect 40 to 50m per day in the upper sections but drill speed will drop with depth, potential average of 30m per day.

Perhaps the most revealing point that Malcom raised in the presentation and then elaborated on in conversation was the presence of brecciated porphyry clasts in the core. He explained that this was also a tell tale they experienced when discovering Cascabel. For those that don't understand the geology talk, what this is saying is that the larger porphyry ore body has been affected by the fault structure. The rocks have been fractured, creating pieces (brecciation) which has then been carried towards surface and it is these pieces that they are seeing in core. It is a very strong signal that the larger orebody lies waiting at depth. When you combine this information with assays, magnetics and other geochemical information it gives increased confidence in expecting this deposit to grow as we drill. Also, a number of epithermal targets to be investigated which could produce additional discrete high grade results.

Also, don't forget the comparisons that are being drawn between physical sizes of Cascabel andthe El Palmar magnetics. This also gives some ideas on potential valuation and we should see most of the exploration style drilling completed within 12 months.

Bramaderos/Alba:

The new cores are visually similar to the visuals on the high grade BMDD012. The trend appears to be open for a considerable distance along strike. Depth proven to approx 300m and open based on visuals only. The geophysics that are planned will help define this as well as the drilling. There are numerous potential epithermal targets at bramaderos and it will grow further as well now that they are getting a greater understanding of the geology.

Body language: Very subjective of course but Malcolm simply can't stop smiling and he is obviously very excited by the prospects at both deposits. From the pair that discovered 2 previous world class deposits, I'd call this confidence as good a signal as any given what we already know about the geology.

Finances: They have a plan for an orderly sale of their equity assets in Copperstone. This money will be available for exploration work. We are also likely to see the next payment ($300k) to take the acquisition of El Palmar to the 70% mark in the New Year. That will leave one future payment (US$2M) to take ownership to 100% at sometime in the future.

While there will be no assays for some weeks now, the news will still flow and the drills will still be turning, cores being logged, knowledge being grown. Love this story and personally a significant chunk of my portfolio.

Expand

thanks Kalenn for explaining the relevance and importance of the finds so that a layperson (such as myself) has a better chance of understanding.

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Last 0.9¢		Change 0.001(12.5%)		Mkt cap ! $34.66M

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0.8¢	0.9¢	0.8¢	$31.26K	3.886M

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