A very brief rundown of the Quarterly from my point of view.
Smokebush 100% – Rare Earth (REE), Gallium & Gold Project ~5,000m of drilling results submitted and due back April 2024 – so next week.
Corporate UpdateTrade Opportunities: commercial discussions of full/partial sales and/or JV of assets ongoing. Maybe they have worked out they have a few too many projects on the run and if Lort Nickel and Copper plays out they could offload the lesser projects to fund more exploration.
Lort River Clay Rear Earth Elements and Gallium:Missed the drill window so will not be drilled until Jan 25 for REE and Gallium which is disappointing. Lort River Nickel and Copper TargetFocus have shifted to exploring this ASAP, which I am a fan of as Copper is very bullish right now.
Biloela Project:Terrain estimates that it will take around four months until applications are granted, and heritage agreement will also need to be established – so backend of the year to really see movement on this if of course the application is granted.
News Highlight: Given the large number of promising exploration targets across its current flagship projects Smokebush, Lort River and Carlindie East Pilbara (pending grant) and along with Terrains commitment to fully test all targets in a rapid, methodically, and systemically manner, the Board anticipates exciting and regular news flow throughout 2024 and beyond. Lets hope so.
Cash: 1.57mil in the bank which is enough for another 2 quarters, which is a concern for me. However, 8.8.2 states “The Company is currently finalising negotiations regarding the divestment of a non-core asset which could raise funds for the Company. The board does not see any reason why it could not successful secure additional funding, at the appropriate time” – So I think we should see an announcement soon about some sales of some assets or a joint venture.
TMX Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
