Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Result Should be due next week for a potential lithium discovery.
Charger Metals NL has completed a comprehensive infill soil sampling program at its promising Mt Gordon Prospect within the Lake Johnston Lithium Project, with results anticipated in the next 3-4 weeks. The company has also conducted detailed mapping at the Medcalf and Mt Day prospects, essential for guiding future high-grade lithium exploration. Approvals for reverse circulation drilling, critical for advancing the project, are expected later this quarter, signaling a significant step towards potential lithium discovery.
Charger Metals NL has completed a comprehensive infill soil sampling program at its promising Mt Gordon Prospect within the Lake Johnston Lithium Project, with results anticipated in the next 3-4 weeks. The company has also conducted detailed mapping at the Medcalf and Mt Day prospects, essential for guiding future high-grade lithium exploration. Approvals for reverse circulation drilling, critical for advancing the project, are expected later this quarter, signaling a significant step towards potential lithium discovery.
Sorry 🤦♂️ quick typing, 113k in cash as of 31st Jan. But also raised money via sales of shares.
But net asset value plus their cash makes this look like a very good buy to me.
They dont have £1,300,000 in cash.
Further. A month ago they raised c £240,000 via sales of shares (inc Rincon) so it looks like they have something to invest in.
Sorry correction 1/4 of mcap is in rincon
This looks cheap to me. Am I right in saying their shares in rincon are currently worth around £200,000? That’s 1/3 of their mcap.
Their net asset value in half year (31st Jan 2024) £1.75mil and cash 1.3mil.
Need to do a bit more calculating but this looks incredibly cheap currently. Or am I missing something?
Https://themarketbull.com.au/2024/05/01/rincon-resources-launches-drilling-at-west-arunta/
Rincon Resources Limited (ASX:RCR) has kickstarted its inaugural reverse circulation (‘RC’) drilling campaign at the West Arunta Project in Western Australia, aiming to probe 4 pivotal target zones, each harbouring substantial potential for IOCG copper-gold mineralisation.
Today’s announcement follows an incredible surge in the company’s share price, up over 300% in the past month, driven by the buzz surrounding its potential ‘bullseye’ target discovery.
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Figure 1: Plan of the Pokali IOCG Prospect area showing RC drilling areas (yellow dotted outlines), overlying 3D inversion models of residual gravity (blue) and magnetic susceptibility (dark red) iso-surface shells.
Exploration focus
The RC drilling campaign will explore up to 2000 metres across 4 distinct target areas in pursuit of IOCG copper-gold mineralisation.
At Pokali East, the focus lies on extending IOCG copper mineralisation by up to 600 metres eastward from previous drilling interceptions, including:
PKC024 – 14m @ 1.00% Cu from 168m within 62m @ 0.39% Cu from 152m,
PKC027 – 4m @ 1.36% Cu from 222m within 42m @ 0.33% Cu from 196m, and
PKC023 – 6m @ 1.36% Cu from 100m within 32m @ 0.46% Cu from 74m.
Dune emerges as a promising prospect, with drilling aimed at probing the newly identified gravity target for hematite-breccia style IOCG copper-gold mineralisation, spanning 2 kilometres along a major fault zone.
Meanwhile, Pokali North awaits further testing, with additional drilling slated to explore the magnetic/gravity target area, believed to host not only IOCG copper-gold but also rare earth element mineralisation, following rock-chip sampling results which returned anomalous TREE values up to 0.48%.
Drilling efforts will also target the Jewel area, testing a newly delineated magnetic/gravity anomaly, reminiscent of the deep geophysical target observed at Pokali East.
Looking ahead
With the RC drilling program now underway, Rincon Resources anticipates completion within approximately 2 weeks.
Following this, assay results are expected to be available by June, shedding light on the mineral potential of these target areas.
Rincon remains open to extending the program beyond the initial 2,000 metres, contingent upon visual observations of IOCG alteration and copper sulphide mineralisation.
Management commentary
Rincon Resources Managing Director, Gary Harvey, expressed satisfaction with the commencement of the RC drilling program.
“We are very pleased with the arrival of the RC drilling rig and the commencement of this initia
Up 28% overnight
I’m a LTH so just skimmed it, RCR just put out a new RNS and is now drilling 2000M but it’s not that exciting with our reduced holding.
If there share price goes up 20-30% tonight could see another pump here
I’m focused on other shares mb for the mistake
Shame people cannot read RNS's and their website that clearly states the investments held as at 28/12/2023. Surely people do their homework before investing ? I guess not, but then I'm happy buying more sub 0.15p. Bring on the commodity bull later this year. DYOR Lennie
Ur right why don’t they update website lol they messed up but hard to foresee such a move for rincon
I think this is the problem, they only hv 4,000,000 Rincon.
7,065,812 were sold at A.04 a few weeks ago.
Remember Aus Dollars and Sterling as well
Rincon holding was worth £500k yesterday it went down 14% last night. It has done wonders for our NAV. Worth following it
Rincon Resources Limited (ASX:RCR) – Gunsynd holds 11,065,812 shares in Rincon representing approximately 6.25% of Rincon’s issued share capital.
Don't really know what's happened here but maybe GUN shot up on the strength of Rincon to 0.23p and then with further research those people realised that GUN had already sold quite a few and those same buyers just dumped them. Back to 0.13p. Tempted to buy them all back!
Have I missed something, I've gone through about what feels like about 100 rns's, looking for the total amount of shares GUN have purchased in RinCON.
I must have missed something only by my reckoning GUN had over 15 million at one stage (a lot of those were bought for 1.6c) and then purchased more and more, some at 34c.
I can only see the one disposal (earlier this month @ 4c (for which the maths doesn't add up).
Did I miss other disposals?
How come they sold over 7 million @ 4 cents each for (if my memory is correct) 238k, what happened to the other 42k?
Please can someone enlighten me
😂
Cheap compared to NAV worth following RCR price currently around £500k to us
I have sold too and invested in STG as results due this week and should bag
I have sold, but will watch now as either something special happens / they fall back to 0.13. GLA
Here we go again in for another rise, STG also rising too could be a great afternoon would be fabulous to see 100 percent
Deanosbooty yes it may well do 100 percent i also think INHC is a multi-bagger too....worth a look....fabulous morning so far should be a good afternoon here
Syme 135 million deal update
Quarterly report issued 24-Apr-24 following West Arunta update on 22-Apr-24 has some very good updates and good cash position given exploration works now well underway across its licence areas:
HIGHLIGHTS
WEST ARUNTA PROJECT
The first diamond hole 24WADD001, completed at the Pokali IOCG Prospect, intercepted three main zones of
copper sulphide mineralisation over a downhole interval from 130m to 550m.
Preliminary pXRF1 analysis confirmed the presence of elevated copper mineralisation within these main zones
with semi-quantitative results returning spot grades up to 7.21% Cu.
Reverse circulation drilling is set commence from 23 April 2024.
Ground gravity and passive seismic surveys were completed delineating several new targets including the
bullseye ‘Avalon’ Carbonatite-Nb-REE/IOCG-Cu-Au gravity target.
Subsequent to the period, the second diamond hole 24WADD002 commenced at Pokali East.
Subsequent to the period, a dipole-dipole inversive polarisation (DDIP) survey commenced at Pokali.
LAVERTON
Independent consultant Resource Potentials completed a geophysical and GIS-based desktop study on the gold
exploration potential of the Laverton Gold Project in September 2023.
Based on the independent study report, the Company is developing a new gold exploration strategy for Laverton
which, facing a rising gold price, is likely to implement from Q3 2024.
Details of the exploration strategy are being finalised and the Company will inform the market in due course.
CORPORATE
The Company completed an oversubscribed Placement to raise $1.43M (before costs).
Cash balance at the end of the quarter was $2.14M.