short term trading - week starting 25 feb, page-129

STT Entry

FA BOA Boadicea resources Long at 0.45c

Sector Nickel /Gold exploration

Boadicea is basically a mix between a nearology play targetting nickel and a gold explorer in its own right

In my readings and opinion it is a nearology play with a significant difference

In my experience nearology stocks are typically disapointing , often they are not very near at all to the strike deposits that spark theur interest and in many cases actually 100s of KM away from the actual strike companies .

Countries like Africa, Peru, Russia to name a few have only had the commonality of country to be considred a nearology play of previous stocks that have ran on the back of nearolgy

In the case of BOA it actually shares a fence line with SIR , , and more importantly the fence line I believe about 1km to the NE of the original Nova centre .

Previous aerial tests in the BOA prospectus show the potential of Fraser range continues through the SIR desposit to the north , and east .

BOA being North east of SIR (Nova ) , and from what I have previusly read is arguably less than 500 metres from the latest drilling result SIR announced today

BOA has a market cap of almost nothing compared to the massive price appreciation SIR has had since the original discovery of Nova .

SIR today alone in one drill hole has added about 15 market caps of BOA .

I think it was a fluke BOA had this land prior to SIR as they acquired it hoping to find gold off the back of previous gold production and recognised there was a sniff of Nickel but did not see this as their initialk focus according to the prospectus

This has obviouysly changed and they have got lucky and the stockis really tightly held and almost un ressearched and unknown across the market

IMO it has all the trademarks of achieving Freeholds ST target paraemeters of 25% +++ over the month even if at 45c it is up strongly today

A few weks ago it was over 60c and in my view has takeover JV with SIR written all over it .

SIR confirm that the strike today is open to the North

I hold SIR , BUX (another nearolgy stock but much further away ) and BOA .