Made me want to see the full list! :)1: Adriatic Metals (ADT,...

Made me want to see the full list!

1: Adriatic Metals (ADT, trading at $2.14): Owns the Vares silver-lead-zinc-barium project in Bosnia & Herzegovina. A PFS demonstrated “excellent economics,” driven the high silver grade. Argonaut assess a post-tax NPV of $538m. Has corporate appeal as Sandfire (SFR) holds a 16.2% take.

2: Atrum Coal (ATU, 30.5c): Its Elan project in the Canadian province of Alberta is a “rare unexploited low-strip premium coking coal project”. It’s next to where Gina Rinehart is expected to get approval for the Grassy Mountain project in the first half of 2021. Should that come through, the corporate appeal of Elan to operators in the region, and large diversified miners, will be enhanced.

3: Bardoc Gold (BDC, 7.1c): Its namesake project to the north of Kalgoorlie “shows healthy margins, decent size and fewer technical challenges than the market would have us believe”. Bardoc has recently secured a gold concentrate sales agreement for the refractory component of the project’s ore sources, a de-risking event the market has been waiting on.

4: Galena Mining (G1A, 25c): Is now fully funded for its high-grade Abra lead underground mine in WA. It comes with silver credits and evidence of copper and gold mineralisation, with the potential of the latter two revenue boosters yet to be full tested.

5: Myanmar Metals (MYL, 7.3c): Its Bawdwin silver-lead-zinc project in its namesake country is a “behemoth and still largely underexplored”. Waiting on investment clearance to majority own and operate a mining joint venture. “Once attained, we expect as high level of corporate interest, particularly from Chinese parties.”

6: OreCorp (ORR, 65c): Now owns 100% of the Nyanzaga project in Tanzania which has a current resource of 3.1 million ounces at a handy grade of 4.03gpt. Could be the first major gold mine project in the country to be permitted under new mining legislation.

7: Pantoro (PNR, 23c): Leading the revival of the historic Norseman gold field in WA (5.5m ounces from grades of better than 10g/t). A low-cost restart plan was based on 602,000oz, with drilling continuing with the aim of doubling the mining inventory by early 2022.

8: VRX Silica (VRX, 29c): Has three silica sands projects north of Perth. Simple processing and access to infrastructure lead to low capital intensity of less than one years’ annual EBITDA for a 2Mtpa plant.