STTCOMP TYX, FA Long
Tyranna Resources
MC $11.3million
SOI 283 million
Options 75 million
SP $0.042
Cash last quarter reported as *$278k + $800k recent CR @ 0.03 Assets
SH of 15.7 million of OGX (sp $0.25) and
SH of approx. 7.19% of KAI (sp $0.05)
Tyranna Resources are perennial peggers and diggers that own tenements (8000sqkm) in Sth Australia including the Jumbuck Gold Project (current strike length at 1.5km) which surrounds the (1m oz) Challenger mine (now owned by WPG).
The company exploited a nearology strategy and currently have an extensive drilling program inplace to build a resource circa of +1m oz, so news flow will be ample.
I like TYX as both a hedge and leverage play (with exposure to gold, a gold producer, nickel and LI explorer) and there will be no requirement for a CR in near future given assets.
TYX is currently in dispute with WPG who they also have separate JV with. The dispute is centred around ground adjacent to WPGs Challenger mine. Given they are JV partners a resolution will be to the best interest of both parties, but one that could favourably enhance TYX sp moving forward.
Unconvinced if timing is right but for a slightly longer hold, 6-12 mths there is minimal downside with potential for much upside
