BIM - reasons to buy

Just recently got set in this stock (not that easy to do given the stock on hand and turnover) and I'm pretty excited about what the future holds. From the outset, I want to say that while the Biloela copper project holds some interest for me (deeper magnetic sus model), its not the reason I've invested. Since May, I've ridden the wave on WA1 and their discovery of niobium in a mineralised carbonatite - that's why I've bought in here as there are some similarities.

Reasons to buy:
- the recent deal to acquire the Lake Schryburt is a game changer as it is a confirmed carbonatite which is a rare geological feature
- even rarer is for a carbonatite to be mineralised, From previous trenching and limited drilling we know that the carbonatite is mineralised
- the market has not woken up to this, as the market cap is circa $6m with $2.6m cash in the bank. Clearly no value ascribed to this project
- even the Canadian / Ontario Geo Board have identified it as a high priority target
- drilling in late July/August so near term catalysts exist for share price appreciation
- rare earths are a hot topic in North America and the market generally right now so a decent hit will spark some serious interest
- Lake Schryburt is in a known mineral province

All in all I see this as a very derisked drilling program that should give solid results and translate into an increasing share price. A 10x move move here would give a market cap of $60m which is still tiny.

Downside are:
- liquidity in the stock is low, its hard to buy and will be hard to sell
- drilling may still hit nothing
- very early stage exploration so high risk high reward