From the prospectus and media articles Corella Resources LtdSOI...

From the prospectus and media articles

Corella Resources Ltd

SOI 424 mil
RTO price 2c
Current sp 4.3c
Mcap 18 Mil
Cash 5 Mil
EV 13 Mil

Corella Resources tenements comprise four exploration projects prospective for high-grade kaolin and silica, described generally and located as follows:

1)The Tampu Kaolin Project

Located in the shire of Beacon, 265km north east of Perth

The Tampu Kaolin Project comprises two granted exploration licences.

Tampu has seen two historical and one modern phase of exploration drilling and metallurgical programs. This drilling has sufficiently determined the validity and potential of Tampu to host significant bright white kaolin mineralisation with very low levels of contaminants. Further drilling and metallurgical test work will be required in order to achieve a JORC compliant resource at Tampu.


According to * article

“Corella’s tenements were pegged with one criteria as the focus – the highest purity possible,” a spokesperson for the company said.

“Assay results and preliminary metallurgical testwork from reverse circulation drilling at Tampu in 2019 confirms the kaolin as being of extremely high purity.”

"Resource and metallurgical drilling will take place here in the current quarter, with a maiden resource estimate and metallurgical test work results scheduled for the second half of the year.Marketing of bulk metallurgical results and further testwork by potential offtake partners is also expected to take place. "

2) The Wiltshire Kaolin Project

Located 370km north of Perth and 90km east of Geraldton (Wiltshire)

The Wiltshire Kaolin Project comprises a single granted exploration licence Bright white kaolin is known to extend to the south and west of Wenmillia Dam along exposures in Wenmillia creek toward Wiltshire. Chemical analyses by the Geological Survey of Western Australia (on kaolin samples drill samples from Wenmillia Dam show high purity kaolin with low levels of contaminant elements.


3) The Kalannie Kaolin Projectlocated 210km north east of Perth, Western Australia and 65km west of Tampu (Kalannie)

The Kalannie Kaolin Project comprises a single granted exploration licence.

A GSWA kaolin sample from the project area location shows high purity kaolin with low levels of contaminant elements.

4) The Bonnie Rock Silica Project

Located 250km east north east of Perth and 70km south of Tampu (Bonnie Rock)

The Bonnie Rock Silica Project comprises a single exploration licence

Previous exploration undertaken on Bonnie Rock identified a prominent quartz vein that extends for an unknown distance below cover. Chemical analyses indicated that the quartz in the region is high-grade, had favourable thermal stability and thermal strength values and is suitable for use in the production of silicon metal.

Conclusion

CR9 got four solid brownfield projects . It reminds me of the RTO i have participated in early 2020 called SUVO asx code SUV . It was 2c RTO and trading at 21.5c now . ( My analysis of SUV article in this link https://hotcopper.com.au/threads/suv-suvo-strategic-minerals-rto-analysis.5542559/?post_id=46363781 , I am still holding core position in SUV )

Similar to SUV , CR9 is priced extremely cheap at 13 Mil EV at current sp of 4.3c . In Comparison with peers , CR9 is THE cheapest stock in Kaolin/ Silica sand sector.

IMO once the stale holders from STC shell will be out , we will see 10c ( 42 Mil Mcap ) soon

And with any exciting exploration related news and maiden resource estimate , CR9 will be 20c just like SUV

GLTAH

DYOR

ALL IMO

Bhavdip