STTCOMP PM1, FA LONG
Junior explorer in WA. Currently holds manganese, lithium and copper projects.
Market Cap: 5M
Cash: 3.8M
Manganese price has been on a steady rise this year, ASX manganese producer OMH share price has gone from 15c to mid 50c in 3 month time. Junior explorer EPM gained momentum in the last a few days on the expectation that it's drilling will soon start. Australia largest manganese deposit holder MZM price shoot up 29% on Friday, not too clear how much of it is due to the manganese component.
PM1's owns 100% battery hub manganese project in WA, one of the two tenements were granted in September, and the other one is expected to be granted in November. On 28th September, PM1 submitted a program of work to the WA department of mines, industry regulation and safety seeking approval. RC Drilling will start soon after the approval of POW. Rock chip samples shows high grade manganese.
PM1 has directors with successful track of record, the same directors are also on EHX, share price appreciated 100% recently.
IMO, PM1 is at a bargain price, it is in fact right on the CR price 2c. Only 1.2M EV, good management(these guys are even deal makers if acquisition is on the card), enough cash. Manganese drilling soon(pending program of work approval) to start. Other manganese players have been playing well, and I believe all of them will do well this year. This has not even counted in the other lithium, and copper projects it owns.
OMH is about to release its Quarterly statement, and a likely sharp profit increase will give market another push on the momentum of manganese.
