For those that missed the news today, it was reported that BHP have found a new copper find to the north east of their Nebo deposit in the Musgraves area. Reports are that they hit 200m at 1.3% copper.
http://www.theaustralian.com.au/business/mining-energy/bhp-billiton-makes-copper-discovery-in-wa-outback/story-e6frg9df-1226617715382
Here is a tenement map of TKL's holdings in the same area.
If you take a closer looks at the BHP tenements, you will see that TKL surround BHP and TKL have been working hard to get as many tenements in the area.
It has been quoted that BHP have said that their new find is different geology to the Nebo deposit, just as TKL have mentioned in their quarterly.
At 8.6c, TKL are valued at less than $8m. It appears that the tenement closest to the BHP find is owned 90% by TKL. Given the market cap, the riak vs reward scenario looks pretty good.
why tkl went up 168% today and is still cheap
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Mkt cap ! $2.918M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 39139071 | 0.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.2¢ | 72270105 | 23 |
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