KSN (ASX) What we have known so far for a sleeping giant

Originally posted by Waiting4Godot ↑

Hi All,

Hope you all had a great weekend, I have spend some time in this afternoon summarising some facts-only notes for KSN.

I do not normally post on any individual stock thread, but after KDR CXO 's super run, it is in my opinion that KSN is so far the best candidates for a real re-rating within the rest of small lithium juniors, I just feel I will regret if my summary is not shared here.

I now am a KSN holder, I hope it runs and it runs hard.

My notes are as below. They are based on all facts as announced by the company so far, please do let me know if my summary has any mistakes, I will try to update the notes whenever there is a new progress being made by the company.

Hope one day the KSN story finally gets unfold.

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By looking at all the tenements/tenements applications,

Kingston controls one of the largest lithium tenement portfolios in the Northern Territory, with over 2,000km2 of tenure at Bynoe, Wingate and the Northern Arunta. The Company is expecting the majority of the remaining Bynoe applications to be granted in the coming months.

The Mount Cattlin package lies to the south of the Mt Cattlin lithium mine owned by Galaxy Resources Limited (ASX: GXY). The tenements cover the Annabelle Volcanics, which host Lithium-Cesium-Tantalum (LCT) pegmatites and are considered prospective for lithium mineralisation and includes the high grade priority prospect Deep Purple South.

The Greenbushes tenement lies immediately south of Talison Lithium’s Greenbushes mine, the largest hard rock lithium mine in the world.

The North Arunta region is also known to host tin / tantalum rich pegmatites, a strong indicator that the extensive pegmatites in the area may be LCT type pegmatites which host Lithium mineralisation in other hard rock pegmatite fields. (CXO.ASX has also positioned itself in Arunta for Lithium therefore I do hope they bring their luck to this area as well)

As with Greenbushes in WA, before economic lithium was recognised, the northern Arunta also has a long history of tin and tantalum mining. It is also evident that the pegmatites in the Anningie and Barrow Creek fields are enriched with lithium as evidenced by economic lithium minerals spodumene as well as highly elevated lithium in geoscientific sampling of source granites and pegmatites.

To date lithium has not been explored for in the north Arunta and the potential of the area is yet to be properly assessed given all of the historical work only focused on tin-tantalum. The pegmatites that have been recognised and exploited to date are only the near surface expression and there is high potential for larger mineralised bodies at depth.

From all the tenements, I think the granted 4 tenements being : EL 31091 31092 in NT & E74/570 74/571 are so far the most significant areas that we are holding on hand, given they are either next to CXO new NT lit discoveries or 15km away close to GXY's Mt Catlin lit mine

Please forgive my hand drawing on the map I did my best...

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so what do we expect the next?

1. First phase drilling program from Mt Cattlin

The Company is now advancing towards Aboriginal heritage and DMP approvals for its first drilling program at the Deep Purple South Prospect. A Level 1 flora and fauna survey is scheduled to be conducted in early September pursuant to obtaining a Native Vegetation Clearing Permit (NVCP), with DMP Program of Works approval expected to follow. In parallel to this the Company is commissioning an Aboriginal heritage survey which will also be completed prior to drilling. Both surveys have been scoped to encompass all three of the prospect areas mentioned above.
Because of the timing of the environmental survey and the legislated process for assessing NVCP applications, the Company now expects to have all approvals in place by late Q2 FY17 to allow commencement of maiden drilling on Deep Purple South.

2.Bynore field exploration program planning activities

Since EL31091 & EL31092 are now granted within the Bynoe Pegmatite Field, KSN will commence its planned exploration program within the granted tenure immediately, Initial steps to include rock chip and soil sampling in conjunction with assessment of existing tin-tantalum prospects.

A side note from myself is that given CXO's significant discovery in the very same area, I believe our management is to focus more on this area while we are waiting for the WA Mt Cattlin approvals.

We shall see constant news flow from NT area.

3. More tenements application approvals

We have 5 WA & 21 NT Lithium tenement applications covering 2280 sqm2 in place with 4 are granted so far,

The Company is expecting the majority of the remaining applications to be granted in the coming weeks/months, therefore we shall see more tenements being granted from four key project areas: Mt Cattlin, Greenbushes, Bynoe / Wingate and North Arunta.

All opinions and further contributions from any other holders are welcomed.

Above are just my own opinion, please DYOR as always.

Cheers
W4G

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You beat me to it - but all good, I beat you to it on Friday.

Anyway, here's a few things that I prepared:

Some peer/EV comparisons - ridiculous where KSN (and CXO) are - both will run hard from here you'd think - after looking at the below comparison everyone will be scratching their heads thinking; what the heck, why didn't I buy more of both KSN & CXO.

I've gone through the tenement maps and re-done them to include CXO's major new discovery location and surrounds - the major discovery is so bloody close to KSN's tenements:

And a zoomed out version (CXO discovery is the red circle):

Directors & Associates own 22% of the shares on issue:

Also good to have FARJOY as a substantial holder on board. Average buy-in price is 2.3c and this investor has a great track record and holds for the long term until the full story unfolds (not aware of all of their investments so someone correct me if they've done otherwise anywhere):

Location of tenements acquired as part of the big acquisition:

And the share price surge on the announcement of the acquisition (and there's been a major discovery, to say the least, since the acquisition ann):

Should be a good week or two or ten coming up.

Cheers,

GB.

ps. great to have you onboard W4GD - keep up the good posting please.