MHK $10m MC $5.5m cash $10m JV Spend

So is this the cheapest best quality Gold-Nickel-Copper play on the ASX?

$10m MC with $5.5m cash and $10m in JV spend from WSA $630m MC and CHN $1.2b MC.

Only 47m shares on issue with management and directors holding 16%. Top 20 50%. A few heavy hitters in the top 20. WSA top holder.

MHK already completed one drill campaign at Emu Creek and started now at Kanowna East. WSA to use the same rig to drill to drill for nickel on a different part of the least straight after.

A huge amount of drilling on a very prospective lease wedged between Majors and 8 kms from the mighty Kanowna Belle Gold mine run by NST.

Having talked to management during this last week it is highly prospective and was a highly sought after lease when they acquired it during a lull in the gold and nickel markets some time ago. These guys are smart.

They actually started off as a nickel company and because of some of this prime land coming up for grabs have also become a gold explorer.

They are actually quite diversified in their target minerals between gold-nickel and copper!


When I asked about the JV's on a lot of the projects it simply comes down to time and money. You need a lot of money to find a nickel sulphide resource. WSA and CHN have just that. Between them and MHK they will be drilling from now for basically all of next year! That is some news flow to happen here. WSA and CHN being some of the real power houses in WA exploration at the moment also.

These guys are after a massive greenfields discovery! They are not into acquiring a brownfields project and drilling director's holes! They have prime land that has been untested in many ways but enough to show with money and backing a major discovery can be found!

All the projects are next to major discoveries! Kanowna next to NST's Kanowna Belle gold mine and POS's Silver Swan nickel project!



The Fraser Albany tenements near Nova-Bollinger mine run by IGO!


And the Viking project and other Noresman tenements surrounded by gold mines 10Moz's.


I see this stock becoming one of those high quality plays that will sit around a $50m MC until they hit something very big!

Drilling from now and all of next year for gold-nickel and copper! The MC now is truly amazing value imo. All JV's are then free carried to decision to mine so they will retain 30% for a very long time with no spend! Very good value imo.

Lot's more to add here but I'll leave it at that for now.