While waiting to make more money, thought would recap a bit on where ANW is in the big scheme of things, , and not forgetting, where it was !
Bit of a spiel -
3 years ago Taronga caused my initial attraction to ANW. Apart from taking a healthy interest in all ofthe subs contained within the DGR stable, ANW stood out as undervalued, overlooked, and with great growth potential. The following brief take from notes:
Intro: Taronga was its story in Dec 2013 with the PFS just updated and the tenement Marlborough in Queensland as an aside to be explored for largely chromite, but with potential Nickel Zinc and Copper.
By March 2014, ANW was highlighting how only two other ASX listed companies with JORC compliant Tin resource. (MetalsX, and Kasbah Resources) – It is well worth reading through presentations form these companies also for re inforcement of where Tin and its uses are heading. CAPEX for Taronga has been evaluated at 87.83 million, to intialise the Taronga project and reach pre production???? . Taronga had been identified for open pit mining with Aa 9 year life. 500k raised by CR.
Theres a gap in my quarterly notes, but by Oct 2014, circa this period another 1million (approx.) had been raised by combination of an entitlement offer, and a placement to sophisticated investors. Pembroke gets a mention with finalized details of a drill programme prospecting for Nickel. And Marlborough is touted for chromite, and Nickel.
Dec 14, and ANW freeholds 70% of the Taronga JORC2012 mineral resource land. Nickel is found at shallow depth in Pembroke, and an Agreement had been signed with Compound resources Pty to develop Chromite operations at Marlborough following 120 day evaluation.
March 2015, Cash raising underway to develop Taronga, (1.42million), Positive Assay results received from Pembroke drilling programme showing further depth and varied concentrations.
June 2015, Taronga stage 1 planning continues – trial mine and pilot processing facilities indicated. McDonalds (Torrington) prospect gets mentioned following drilling programme and the realization of multiple minerals. Compound Resources have declined the offer for chromite development at Marlborough.
Sept 2015, Taronga metallurgical test work exceeds expectations surpassing the values adopted in 2014 PFS. Studies progressing to support the Stage 1 application. Mcdonalds prospect drilling programme results indicate similar metallurgy to Taronga. HOA signed for Granville venture. Pembroke going quiet?
December 2015, Granville S&P executed ( L1 ops targeted for Q1 2016).Australian Minerakl Investments Pty chip in 1.23Million to assist Granville progression. Taronga stage 1 development app prep continues,
Mar 2016, ANW now owns 100% Granville Tin project, has processing plant. Taronga Stage 1 app progressing. Further 480K raised from companies 2 largest shareholders.
June 2016, Granville commissioning begins, Lithium identified at Taronga and Torrington(McDonalds). Cobalt target revealed south of Mt Cobalt ( part of Pembroke?)
Sept 2016, production announced from Granville, Mt Cobalt results High Grade, 2.35 mill raised by entitlement offer and sophisticated investors.
December 2016, Mt Cobalt Assay results confirm high grade, Granville Production revealed as requiring further tuning.
Mar 2017, Granville ore processing continues following plant mods/ Expansion approved, Taronga stg1 App submitted. Mt Cobalt Historical resource notes being reassessed.
June 2017, Granville processing performance improving, Field analysis reveals new drill target at Mt Cobalt. 3.25 million funding package (Lind Partners) for projects Tin and Colbalt advancement.
Sept 2017, Granville deliver 5t to Traxys – Provisional 48k received, Lind partners stump up another 250k, Taronga is granted 2 exploration licences prospective for Lithium.
And here we are, effectively waiting on Taronga Stage 1 Approval/ further drill results from Mt Cobalt (Becoming quite an established target now), and further Tin exports J
Been in worse positions.
