Most people probably don't even know about our resource. In general the market to this date has not fully understood Walkabout Resource. Walkabout Resource were late comers to the graphite hype and missed the early run. Early on size was what mattered but today there is far better understanding. Not only do you need to prove a resource it needs to be financed. This is a concern today as many company's find funding to be the hidden elephant.
Not all resources are the same and all with differing strategy and end use markets. Walkabout Resource quickly defined a high grade area but chose to infill the small profitable resource that we now know today. There is little doubt that this resources is of highest quality evident by the recent data room activity and completed DFS.
The resource is only 1% drilled to this stage with an already high priority target 4.2 km in strike length with surface samples measured @36% TGC. For those that have joined lately the first stage of resource was initially located by VTEM and surface rock sample's. The second high priority target demonstrates many of the same indicators to stage 1. Stage 2 is located along strike from the popular world class Nachu trend and location also along from Lindi.
The IRR report is a fantastic read for any one wanting to research Walkabout Resource found on the web site.
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Stage 1 is the key target along with current finalization of funding discussions where 80% of our finance package potentially comes from. Some will argue that we need a joint venture and this is all well and good but timing is crucial. To joint venture now would only reduce and dilute with a 7 million $$$ market cap. Way better to do this at the right time with a way larger market cap. We have a very switched on management team who have now brought us to the cusp of finance at a fraction to budgets from peers. Currently a $292 ROM and $60 contracted to port and expected capex of $38,000,000. NVP 323 million.
Walkabout Resource deliberately started small to mitigate start up risk. Our best in class graphite allows for a very efficient plant and and simple mine operations. Most elements are now well advanced for first stage. Our graphite is suitable for a number of markets but on start up expandable graphite has been chosen. It is a huge market limited by supply of material and combined with research and development will grow way beyond the fire retardant,graphite foil heat shields and multiple other uses.
The strategy allows to grow organically into known markets with certainty...
Croc
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