@Dazedandconfused and
@mitis ... I haven't been paying much attention in the last few days as I've been in hospital and had a wrist fusion. Lots of pain which makes all stocks a bit irrelevant at the moment. I'm currently mostly cash with energy being my largest holding along with lithium/gold. IMHO all junior explorers will suffer in the upcoming bear market, plus those that need to finance a mine due to massive inflation in cap costs.
For me the resource was/is the all important aspect, they still don't have one, so no matter how good the metallurgy, it's irrelevant without a resource. I also don't buy a new employee being a sign of anything. Every junior tries to play the 'joe bloggs' wouldn't have joined unless it's a great project card. It's just another employee being well paid for a local gig.
Here is the metallurgical results ... from 2016..
"
Preliminary metallurgical testwork on a sample of massive nickel-copper sulphide indicates that Mt Alexander will produce a high value saleable concentrate that will be sought afterHigh Recoveries from Ore>99% recoveries of Ni and Cu to concentratesNo deleterious elements like MgO or arsenicHigh GradesNickel grade of 18%Ni (Nova is 13.5%Ni*)Copper grade of 32%Cu (Nova is 29%Cu*)Cobalt grade of 0.55%Co in nickel concentratePGEs + Au of 13.5 g/t in nickel concentratePGEs + Au of 3.2 g/t in copper concentrate"
From 2022 results...
"Nickel concentrate grading 11.5% Ni with 3.32 g/t Pd, 0.65g/t Pt and 0.61% Co Copper concentrate grading 27.8% Cu with 12.4 g/t Pd, 1.9 g/t Pt and 2.6 g/t Au No deleterious elements that could affect the saleability of the concentrates."
Notice the difference?? Lower grade concentrates, probably because they used a lot more disseminated mineralisation. Recovery was a total of >99% in 2016, but now 95.9% again probably the difference from all massive sulphides to including disseminated sulphides.
Without an MRE they have nothing, but are obviously trying to pump up the stock before the cap raise. Stricklands is obviously a tiny resource by itself or they would have released the MRE. The only reason not to release it is they think it would tank the SP IMHO.
The hole drilled into S2 is also obviously another duster as it should have reached depth over a week ago using a conservative 25-30m/d drilling.
Good luck to holders, as the market can move very swiftly from up to down on the hint of bad news in the current market. hopefully they do the cap raise very quickly before the overall bear market sets in, or you get more bad news. Typing one handed is difficult!!!
