Further to Kingfisher's masterclass in exploration news flow (to...

Further to Kingfisher's masterclass in exploration news flow (to use a neat phrase from TimeMagic) here are some thoughts:

1. KFM – Out of the blocks hard …
When we look at what Kingfisher has achieved in a year since just before the initial discovery at MW2 in January 2022, the future looks bright. Our growth in MC has been worthwhile already (has basically tripled from ~$10M to ~ $30M) but more important has been the work done by KFE's team to develop an understanding of the now apparent potential of our block. That's where serious growth should come from.

It looks to me like our acreage might itself eventually show world-class potential but even if that does not emerge, I'm pretty sure it will prove up to be one of the key blocks within a region that has collective world-class potential (e.g. HAS + DRE + KFM +?).

We're off to a very promising start especially coming from almost standing still in January 2022, with a very small balance sheet initially, and a tiny team, following a late 2020 ASX float. An interesting tidbit. It's not often that an explorer lists with its name as "xxx…Mining" as Kingfisher Mining Ltd has done. Another Freudian example, salpetie?? (Apologies for stretched way of engaging you!)

I do hope the team gets the opportunity to execute their vision for this very exciting acreage before being swallowed by any number of possible bidders. I want to maintain the dynamism of a hungry explorer for a long while yet.

2. Discovering crucial REEs in world class block/region, in best jurisdiction in Southern Hemisphere
I see Kingfisher growing fast, as its potential becomes undeniable to many more investors, who will put more money into the story, leading to more exploration, a bigger team etc. The potential I see is:

• to find quickly, at reasonable cost...,
• in one of the world's best mining jurisdictions, having both State and Federal support,...
• desirable and difficult to obtain at scale, high grade REEs, on a large scale...
• with low sovereign risk...
• nearby to miners and infrastructure...
• in one of the most important sectors of our time - because of numerous enduring uses… which uses include those exacerbated by seemingly intractable geopolitical risk.

3. Quick, smart and demonstrably effective team
The Kingfisher team (led by James Farrell) has already demonstrated its ability to locate very significant high grade mineralisation, at an early stage, in a large acreage package.

I'm referring to much more than the initial 'blind' high grade REE drilling discovery at MW2 in January 2022 that started it all.

I'm also impressed with the numerous surface sample discoveries since then - e.g. at MW7, MW8, KF3 and elsewhere - some of exceptionally high grade - plus a high grade REEs in clay discovery, adds optionality and shows how much has been going on geologically.

Likewise, many of the other high potential targets identified since then that need to be worked up but look very promising indeed.

The recently acquired Arthur River acreage looks remarkable even at this very early stage. And we've haven't even scratched the surface over large areas – just done airborne geophysics…

Given all that, and the regional story (which includes very significant work from Hastings – with its Yangibana development under construction - and, more recently, the already impressive achievements from Dreadnought), I feel confident that we are in a world class region and we may even prove up our own world-class acreage.

4. The inspirational Dreadnought (a 911 Turbo S would suit Dean Tuck …)
Led by the inspirational Dean Tuck, Dreadnought is further demonstrating that this part of the Gascoyne is an REE area of world significance. Hastings' Yangibana development (under construction) says the same – without the excitement of DRE. That said, I'm no longer a DRE holder as I switched into Kingfisher a while back, greatly influenced by the difference in shares on issue, and market caps.

Dreadnought is a great near-neighbour, with DT's crowd-pulling vision, energy, knowledge, discovery habits and generous commentary. He should be driving a 911 Turbo S – the face-bending acceleration, top speed, and overall performance would suit him just fine!

5. Hidden in plain sight near our inspirational neighbour
Interestingly, because of the almost coincident whirlwind caused by Dreadnought to our north-east (adjoining Yangibana), we whisk along in their slipstream, remarkably undetected in a profile and MC sense. Not a problem, since DRE is many months (but not years) ahead of us, and has a much bigger balance sheet and team – and they are… well…DRE. They also do a great job in highlighting the regional potential.

6. Mick Well in deep-seated plumbing pic., along with DRE discoveries
Speaking of DRE, look at their endorsement, in slide 9 of their 30 January 2023 investor presentation, of this line showing regional deep-seated plumbing for Mick Well (green star is theirs), along from their very promising C6 and other targets. Note the fluid pathway potential from the upper mantle to Mick Well. Bear in mind that pic has been OK'd by Dean Tuck and that anything he points out is worth some thought.


7. Near term news flow
I'm very interested in news flow but unconcerned if it's near term or a bit later. Nevertheless, yesterday's Quarterly estimated the following:· February 2023: First assay results from MW2 drilling. ·
February 2023: Results from Arthur River project generation review. ·
February 2023: Exploration activities for 2023 ·
February 2023: Additional assay results from MW2 drilling.

7.1 MW2
Drilling assays - 2 batches of results, more holes and metres

Expected in 2 batches in Feb., it seems a good chance that some were requested in priority, since the programme went well. If so, a likely positive.

Programme extended with 4 holes despite rig having to move on
Recall that 4 holes – and about 500m - were added to the programme, on the fly. That was done even though "due to constraints associated with rig availability five drill holes in the initial plan were delayed…".

As Accumul8 astutely pointed out in Post #: 65958421, you don't add holes and metres into a programme willy nilly and shunt other priority targets, especially when the rig is already up against a hard deadline. Good chance that was a positive then.

The 29 November 2022 announcement said that first samples had been despatched to the labs (when the programme was ~35% complete). It also said that additional rock chips from MW2 collected in late October led to the identification of additional mineralisation, with new high grade results including 20.78% TREO, 17.65% TREO, 17.55% TREO and many more. The 20 December 2022 announcement indicated that at least some of that "additional mineralisation" (5 parallel lodes, outcropping) was tested in the drilling. No wonder!

The 'Bald Hill' tease "
The 20 December 2022 announcement also said (underlined and paragraphed by me for emphasis):
" Our understanding of the geology in the Mick Well area is steadily advancing and we certainly believe we are looking at a regional scale REE system, ...with potential for large scale carbonatite intrusions.

We are also seeing more similarities between MW2 and Hastings’ world-class Yangibana Project, and in particular, the Bald Hill deposit, which makes up the majority of the mineral resources at Yangibana. This is particularly important for the Company due to the significant breakthroughs we have already made at this early stage of exploration which has covered just 5km of the 54km Chalba target corridor."

Yep, sounds like MW2 drilling went OK. We'll see.

7.2 Arthur River Project Generation
This would be fun. This acreage was only recently picked up – see 15 November 2022 announcement. Despite that - and following a tenement wide airborne geophysics survey - KFM's 18 January 2023 announcement included this:


Exciting stuff!

7.3 Exploration Activities for 2023
Where to start … Back to the kid in the lollyshop problem…

Clearly, we'll need the latest MW2 drilling results before a plan can be firmed up. Let's see if we design a programme that reflects apparent Bald Hill at Yangibana similarities. After all, we have a major crustal boundary running through our acreage and these are a recognised source of carbonatites.

There's a lot pointing in the right direction here. Whatever way I look at it, the stock looks very cheap to me at a current MC of under $30M and with circa $4.5M in the kitty and a modest spend of ~$1M last quarter despite the intense activity.