Investors in RR1 expecting an immediate rerating are unrealistic, particularly in this market for an early stage explorer.
I have bought into the stock on the basis of its potential Nobium discoveries of 32% Nb2O5 and 14% Nb2O5 (June 2023), which compare favourably with WA1 Resources which is priced around $10.00 per share, appreciating from $0.20 two years ago, after its Nobium discoveries.
RR1 notified the market in December that its Wabli Creek tenement soil surveys have uncovered multiple new targets -
- assay results from a tenement-wide soil survey have identified 16 new strong, coherent Niobium/Rare Earth Element (REE) anomalies at the Company’s 100% owned Wabli Creek Project,
- the results demonstrate a significant extension to the previously reported Niobium/REE targets identified at the north-western margin of the project area within tenement E09/2377 (ASX Announcements 01 June & 28 June 2023),
- multiple new targets identified across both Wabli Creek tenements (E09 2377 – Wabli Creek) and (E09 2748 – Wabli Creek North),
- the top 3 priority targets define a semi-continuous arcuate zone of strong anomalism extending over 4km’s which may reflect a common source/tectono-stratigraphic control.
The potential of Nobium was discussed by 30 year mining engineer and Chairman, CEO and Director of Hong Kong based Queen's Road Capital Investment in an interview on Money Of Mine. He said to be successful in the Nobium sector takes a lot of work and time, but has tremendous profit potential, hence my preparedness to see what unfolds with RR1 which currently sits at $0.003 and in my opinion is undervalued.
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