What's the deal with BMT? Exploring for cobalt and associated...

What's the deal with BMT?

Exploring for cobalt and associated base metals.

10M market cap
5.3M cash as at end sept '17
2018 exploration funded.
Corporate advisor: Canaccord

Has several ongoing prospects in Scandinavia (most secured through the acquisition of Kobald Mineral Holdings - kobald = cobalt).

1) Skuterud. Current focus. Historic mine after which the cobalt mineral skutterudite is named. Maiden drilling campaign recently completed. 6.3km trend, of which 3% has been now tested. So far disseminated ore has been intersected with some blebs and bands of cobaltite, and cobalt mineralization found in every hole. Reported best results from these first holes ranged from 0.09%-0.16% Co and 0.2-0.47% Cu. Geophysics and surface sampling to follow, as well as more drilling.


2) Gladhammar. Historic mine, closed late 19thC. Reported BMT samples of 0.24% Co and 3.9% Cu. Historical drilling intersected 7.8% Cu @ 1.9m. Previous explorers targeted gold, which occurs somewhat separately from the base metal mineralization (excision in license area is held by gold miners). License area recently much expanded. Ground magnetics apparently conducted in December.


3) Tunaberg. Another historic mine operating 15th-18C. Most recent exploration focused on Zn (9.9% @ 0.4m) and Pb (2.3%). BMT is reassaying those cores for cobalt, along with reviewing historical data. License area expanded.


4) Lainejaur. Previously held by Blackstone, but BMT has again increased the license area. Historic resource of 645Kt@ 1.3% Ni, 0.66% Cu, 0.09% Co. Mineralization open at depth. Electromagnetic surveys and down-hole probing underway.


More details can be found in announcements. BMT also has two Australian gold projects.

My view: only up from here. Some patience required.

I left out lots of detail for simplicity's sake, feel free to add it in.