Allkem recently acquired 80% of some tenements adjacent to Bald Hill. They have made no secret that while they have extended the life of the mine at their Mt Cattlin operations to the south of Bald Hill, they have plenty of spare capacity there and are looking to fill it either by themselves finding more ore or by toll treating for others. Minres is not the only gorilla in that neck of the woods: Allkem is soon to merge with Livent to become the third biggest lithium producer in the world and a bit like Pilbara is sitting on hundreds of millions of dollars of lazy cash. The Allkem boss has recently stressed that they see WA as one of their activity centres but they've not been active in acquiring WA projects as they viewed WA prices as being too hot. The point is that if Allkem wants something they have the dosh to pay for it.
Also I recall that Torque had recently applied to take over some tenements between their current holdings and Bald Hill. If they are indeed also buying additional tenements in that area then that clearly indicates a change in focus for them. If so, the smallish reserve of open pittable gold at the Paris pit - 36,000 oz (?) - might be better monetised (the way I remember it is that they claimed they could easily toll treat the ore but decided to keep it on ice to be added to the newer gold discoveries they were making).
TOR Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
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