Potential resource upgrade to 5.2 mt contained graphite with...

Potential resource upgrade to 5.2 mt contained graphite with further development over the coming year.
Assuming....

• JORC resource: 23.8 mt @4.5% TGC = 1.1 mt contained graphite
• Threadfin exploration Target zone: 37.5 mt @4.0% TGC = 1.5 mt contained graphite (graphite previously ignored)
• Broader exploration of McIntosh Graphite Project: 75.0 mt @3.5% TGC = 2.6 mt contained graphite (7x new targets)
• Estimated Total = 5.2 mt contained graphite (equivalent to 75% of Renascor Resources Ltd graphite resource of 6.9 mt CNT graphite)
• CML valued at $17.5 million while RNU valued at $745 million, therefore, RNU valued at 43x CML share price, or,
• pro-rated contained graphite content, CML could be valued at $560 million ($0.58 cents/share) if it was as advanced in its development cycle as Renascor!!!!....hence I like the upside.
• DYOR, assumed 100% rights, so discount figures by 20%.

From Stock...Head...com

Chase Mining Corporation (ASX:CML)

Chase Mining Corporation recently completed the acquisition of Green Critical Minerals, which holds the right to acquire up to 80% of the graphite rights to the McIntosh project.

It is the third largest ASX listed graphite project in Australia, a sector where juniors are eager to get a foot in the door in the hope it becomes the next lithium.

McIntosh currently boasts a resource of 23.8Mt at 4.5% total graphitic content, but an 8km long target called Threadfin is undergoing re-evaluation for its potential to host graphite suitable for the Spherical Purified Graphite market.

Preliminary anode testing at McIntosh has passed early parameters for the battery industry, GCM says, with testing also planned on the Threadfin flake.

Threadfin boasts an exploration target of 25-50Mt at 3-5% TGC, on top of a separate conceptual exploration target of 50-100Mt at 2-5% TGC. Previous owner Hexagon Energy Materials removed the target previously due to factors like fine flake size.

But GCM is revisiting the target because it thinks it has potential to produce a suitable product for the EV market.