FROM THE BROKING DESK
We want to highlight some great exploration results from Great Boulder Resources (ASX:GBR: A$0.70 : US$37m). Some of you may remember that this company’s CEO, Stefan Murphy, worked with us here in London and in Perth before taking up his position with GBR just over a year ago. The stock tripled on the announcement of the results, which confirmed potentially economic mineralisation over significant widths in at least four of the nine scout RC holes drilled at the Mt Venn prospect, which is located on the company’s Yamana Project, in which it is earning a 75% interest in return for spending A$2m over five years.
The project is located on the Yamana Belt, east of Laverton, in WA. It benefits from being 25km from the Gruyere Gold Project that is being developed by Gold Fields and Gold Road. Highlights from the results included 48m grading 0.75% Cu, 0.20% Ni and 0.07% Co, and 61m grading 0.50% Cu, 0.15% Ni and 0.05% Co. The holes confirm the presence of copper, nickel and cobalt mineralisation alongside the pyrrhotite that is responsible for much of the extensive EM and magnetic anomalies at the Mt Venn prospect. We await further news with interest.
Elsewhere, a few general reminders. We’ve put out a couple of reports over the last few weeks. First, Jim Taylor released Mineral Sands — Shifting Up A Gear, October 2017. This 76-pager looks closely at the mineral sands space, a small — but significant — part of the mining sector. Over the past 18 months the industry has moved through an inflexion point, creating an extremely favourable outlook. In the piece we have full reports on six companies: Iluka Resources, Base Resources*†, Kenmare Resources, Mineral Deposits, MZI Resources and Sheffield Resources.
This was followed by Jim’s initiation piece Metal Tiger (LON:MTR) *† — Earning its Stripes, 9 November 2017. Metal Tiger plc (MTR) is an AIM-quoted company that owns a portfolio of direct and listed minerals investments. Its main asset is a 30% interest in the Kalahari Copper JV, which it owns together with the ASX-listed MOD Resources. We started coverage with a Buy rating and a target price of 3.6p. We’re marketing MTR’s CEO Michael McNeilly in London on Tuesday and Thursday this week. Please let us know quickly if you’d like a meeting.
Finally, we’re partnering with Mining Indaba in its launch of the Junior Mining Showcase in Cape Town over 5-8 February 2018. The showcase will be a dedicated, deal-making zone with restricted access. It will group over 60 junior miners in one place.