STTCOMP MTH FA LONG
SP 4.6 cents
MC 5.6 million
cash 900k
soi only 123 million
ATM cobalt is all the rage, on the back of a increasing cobalt price recently hitting $90
its hard trying to find decent cobalt exposure that has not already made a big run
for those wanting a good cobalt play that is still at shell value look no longer there is MTH
capped at under 6 million MTH offers exceptional leverage in the cobalt market
they have some excellent cobalt targets on the back of some very strong historic hits in the past
these included
- 42m @ 1.25% nickel, 0.07% cobalt from 24 metres including 6m @ 1.78% nickel, 0.20% cobalt,
- 10m @ 0.70% nickel, 0.11% cobalt from 30 metres including 3m @ 0.92% nickel, 0.21% cobalt,
- 19m @ 1.08% nickel, 0.07% cobalt from 33 metres including 6m @ 1.17% nickel, 0.11% cobalt,
- 20m @ 0.69% nickel, 0.07% cobalt from 32 metres including 8m @ 0.96% nickel, 0.09% cobalt
now lets compare another cobalt explorer capped at 40 million
G88 and their recent cobalt drill results
G88
Intercepts* include
16 metres @ 0.10% Co, 1.73% Ni & 41 gpt Sc* from 36 metres Incl. 8 metres @ 2.16% Ni, 0.07% Co & 42 gpt Sc* from 40 metres
QAC012 7 metres @ 0.15% Co, 0.68% Ni & 41 gpt Sc* from 20 metres (BOH) Incl. 3 metres @ 1.02% Ni, 0.10 % Co & 34 gpt Sc* from 24 metres
(BOH) QAC014 12 metres @ 0.13% Co, 0.46% Ni & 35 gpt Sc* from 16 metres QAC015 12 metres @ 0.16% Co, 0.58% Ni & 32 gpt Sc* from 32 metres
on the back of the above results G88 went from a 8 million MC or 16 cents and hit a high of $1.20 or a MC around 60 million, pretty impressive but the grades they hit are no better than MTH historic ones
imo if MTH can hit grades like G88 or their historical grades I expect a massive re rate to occur.
now drilling has currently been completed and easy are due back in only a weeks time.
"Mithril Resources Ltd (ASX: MTH) wishes to advise that assay results from its recently completed Reverse Circulation drilling program at the 100%-owned Kurnalpi Nickel-Cobalt Prospect (located on EL28/2567 approximately 70 kms north east of Kalgoorlie, WA - Figure 1)
are expected late next week."
given the low MC of MTH the massive demand for cobalt and their past historic grades I see this as a very good risk/reward play.
on poor results it may drop to 3 cents from the current 4.6 cents, on good results it should at least bag to 9 cents, on historical or G88 type results 20 cents should be a given I think.
and given the very low amount of shares on issue it will run hard on good news.
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(20min delay)