And one last thing, the Myall project that MAG has is in NSW.
It has absolutely nothing at all to do with Myall Creek in South Australia!
Who cares if Fortescue is investing in multiple companies and multiple prospects, that's their business model. They're investing in projects that have high chances of finding the next Tier 1 deposit such as SER who has good ground in Greenfields areas.
SER is not the only company they are backing and I have no doubt that they're interested in the Isa North project, why else would they peg exploration tenements engulfing SER's tenement there?
SER certainly has the cream of the crop in that location. Just a matter of time before things ramp up there at Isa North in addition to Canobie, Mundi and Mabel Creek which are all early stage projects leaving room for massive upside potential if they find something.
Fortescue still need to drill Myall Creek and achieve their $1.5M expenditure, they have already spent money so who knows what that balance is and just how much further they need to spend to take their share. I doubt they'll let it lapse as they recently completed the gravity survey to plan drill targets. The contract is not expired.
Fortescue have another $8M Farm in agreement at Canobie, only first round of scout holes completed and plenty more to come.
Mundi drill plan is being worked on with furthey surveys being completed.
Mabel Creek in the Gawler Craton is planned to have initial exploration works started this year.
Ambergate will sell at some point as nearby miners are busy depleting their mines and will need to expand or close up. Ambergate is well positioned near existing mines. Doral's mine which is only 10km's away will be depleted soon so perhaps they will be in line. (4 to 5yr mine life dating back to 2021).
There's also all the other prositive investments they have made:
87,155,625 shares in Ionic Industries which is due to list on the Toronto Stock Exchange in the next few months. Value unknown if anyone has listing
info I'm all ears. I've heard others say this may exceed current market cap?
13,273,778 shares in Resolution Minerals (ASX:RMI) Current value is $292,023.
18,240,000 shares in Middle Island Resources (ASX:MDI) Current value is $273,600.
And lastly these 3 projects I'm unfamiliar with, South Cobar, Nymagee & Gareema which are all located in NSW.
SER has got to be the most underrated and undervalued micro cap out there.
I'm yet to discover a better positioned explorer at the $5M MC cap range.
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