STTCOMP EMS FA LONG
MC $2.63 M
Cash $1.454 M
EV $1.18 Million
EMS must be the cheapest Lithium / Copper Co. on the ASX,
It has Lithium, Copper, Zinc, Lead and Cobalt !!!!
It also has already found grades of up to 3.38% TREO,
At it's Tara Tenement,
In NSW
As well as already having a Mineral Resource Estimate of Contained copper equivalent of 89,900 tonnes of metal
"The Tara tenement covers an area of 376km2 and is located 120km south of Cobar"
"High-grade rare earths were discovered by Eastern Metals Limited (Eastern Metals or the Company) near the Currawalla mine shaft on the Company’s Tara tenement, EL9810 in the Cobar basin, in March 2023;"
"assays of up to 3.38% total rare earth oxides (TREO) associated with a quartz breccia unit that has been sampled over a strike length of more than 100 metres"
It is about to start Drilling the Area where it found those 3.38% grades of TREO,
Which are High Grades !!!!
It is very Undervalued compared to peers,
Especially with the great TREO grades it has already achieved.
It should IMO already be trading at Multiples of it's MC just on those TREO Grades alone.
Drilling at Tara where it found the 3.38% TREO Grades is to commence shortly,
As soon as it's finished its entitlement issue at 5cents to raise approx. $1.4Million ending on the 9th of this month,
Which commence trading 4 days later:
"For the non-renounceable entitlement issue to Eligible Shareholders of one New Share for every two Shares held on the Record Date (maximum aggregate of 27,475,415 New Shares) at an issue price of $0.05 per New Share to raise $1,373,771 (before costs) if fully subscribed, together with a free unlisted New Option for every two New Shares acquired, exercisable at $0.10, expiring 3 years after the Closing Date, unless previously exercised (Entitlement Issue)."
"This drilling program will commence as soon as possible after the successful completion of the Company’s current $1.4 million entitlement issue"
It had $1.454 Million in it's recent Quarterly,
Combined with the Approx. $1.4 Million from the 5cent entitlement issue,
Gives around $2.8 Million which is plenty enough....
The Company has already recently completed a ground magnetic survey at Tara that has provided greater detail on the structure of the magnetic anomaly than can be obtained from the airborne data alone;
• The new data confirms an intimate relationship exists between the highly anomalous surface samples, the quartz breccia unit and the source of the magnetic anomaly, and has provided additional drilling targets to add to the program previously announced
EMS also has a Mineral Resource Estimate for it's "Home of Bullion" Copper Deposit:
• Updated Mineral Resource Estimate (MRE) for the Home of Bullion copper deposit in the Northern Territory completed,
taking into account 2022 results of diamond drill holes and changes in metal prices since the earlier MRE was completed in 2014. • The updated MRE3 is a total of 3.1 million tonnes at an average grade of 1.7% copper, 2.0% zinc, 35 grams per tonne silver, 1.1% lead, 0.17 parts per million gold and 0,02% cobalt.
Expressed as a copper equivalent, this is 3.1 million tonnes at an average grade of 2.9% Cueq
• The tonnage has increased by 0.6 mt or 24% and the grade by 0.1% Cueq or 4%.
Contained copper equivalent has increased from 70,000 tonnes to 89,900 tonnes of metal – an increase of 19,900 tonnes or 28%
Anyhow this one is well and truly under the Radar,
So much going for it with not only Lithium / TREO,
But also Copper, Zinc, Lead and Cobalt
Many if not all of these metals are required for EV's and the transition to Green Energy
With TREO Grades of 3.38%, &
A Mineral Resource Estimate of 89 900 Tonnes of Copper Equivalent
EMS has already achieved a lot more than many, if not most of it's peers....
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