RCKS Talk

22-May-2018

Mawson Resources Ltd.

Raja Continues to Deliver

Impact: Positive

Mawson continues to have drill success at Rajapalot, we expect continued newsflow as the company re-assays for cobalt mineralization and advances drilling in new areas.
  • High-grade gold intersected at Raja, cobalt assays pending
  • Along with past assays, latest results to be tested for cobalt
  • Newsflow expected as gold and cobalt assay results become available
We expect results from re-assaying and drilling to be upcoming catalysts for the company, as it looks to build a maiden resource.
22-May-2018

Pure Energy Minerals Ltd.

Initial Drill Results from Terra Cotta

Impact: Neutral

Pure Energy has announced the results from its first two boreholes at the Terra Cotta project in Salar de Pocitos, Salta Province, Argentina: TC-DD-01 and TC-DD-02. Terra Cotta is a lithium brine project in the lithium triangle of South America.

  • All brine samples showed similar lithium concentrations, with greater concentrations closer to the centre of the salar
  • TC-DD-01 showed average lithium concentration of 29 mg/L Li, ranging from depths of 20m to 370m below surface
  • At depths ranging from 15m to 310m, TC-DD-02 showed an average concentration of 65 mg/L Li, including a range of lithium values from 29 mg/L to 93 mg/L
Based on these weaker results, Pure Energy intends to continue to assess the drill results in addition to previous near-surface samples and surface geophysics at Terra Cotta in order to evaluate steps forward for the project. The focus for the company remains the Clayton Valley project in Nevada where the company is in the process of permitting and designing the pilot plant to test the capability of lithium brine extraction and processing technologies.

22-May-2018

NxGold Ltd.

Strike Extended and Fine Gold Identified at Mt. Roe

Impact: Positive

 

Initial mapping at NxGold’s Mt. Roe project has highlighted its exploration potential and therefore given the recent success at the Pilbara assets, the company has decided to withdraw from Chicobi to focus on the Mt. Roe project in addition to its Kuulu project in Nunavut.
  • Mapping increases strike by 75% to 7km, identifies near surface fine gold
  • Upcoming exploration key to understanding geology of project
  • Promising results shifts’ focus to Mt Roe & Kuulu with withdrawal from Chicobi
Shares of the company increased ~61% on Tuesday following the news, further supporting our view that a re-rating is possible as the company’s now C$16M market cap does not fully account for both Mt. Roe and Kuulu in NX’s valuation. We expect assay results from grab sampling, mapping results and the start of trenching to be important catalysts for the stock.

22-May-2018

De Grey Mining Ltd.

Another Corporate Takes a Significant Interest in De Grey

Impact: Mildly Positive

De Grey Mining announced that DGO Gold Ltd (ASX:DGO) is investing A$5M at A$0.20 per share (25M shares). With each two shares purchased DGO is also receiving an option at A$0.25/share expiring November 2019 (12.5M options) and an option at A$0.30 expiring May 2021(12.5M options). DGO’s shares are subject to a voluntary 12-month hold.

  • DGO now owns 7% of the basic shares outstanding (13% partially diluted), making it the second significant corporate investor – recall Kirkland Lake Gold (TSX:KL) owns 9.3% of the basic shares outstanding (17% partially diluted).
  • DGO plans to complete a rights offering, which is backed by its significant shareholders, to fund its investment; however, we would note that barring continued significant support from its major shareholders, DGO may have issues maintaining its pro-rata position or funding its option exercises
  • DGO investment is based on the potential of the traditional hard rock shear zones, which currently hosts a resource of 1.2M oz Au, whereas Kirkland Lake’s interest is primarily on the conglomerates
In our opinion, adding a second significant shareholder, at a 17.6% premium to the current share price, is positive. We continue to believe that De Grey’s current valuation provides investors a low-cost option on the conglomerates and on the resource growth on the traditional hard rock assets.

22-May-2018

Pacton Gold Inc.

Pacton Becomes 3rd Largest Land Holder in Pilbara

Impact: Positive

Pacton has become the 3rd largest land holder in Australia’s Pilbara region after acquiring 100% of the shares in Drummond East Pty Ltd, a wholly owned subsidiary of Impact Minerals Ltd. (ASX:IPT), for the company’s seven granted tenement licenses covering 1,126 sq. km (Figure 1).

  • Exploration has indicated that up to 90km of prospective conglomerates occur at or near-surface on granted tenements
  • Historic rock-chip results of 11.2g/t gold have been found in a gold-pyrite conglomerate that extends for 25km
  • Acquisition provides access to the extensive regional knowledge and expertise provided by team led by Dr. Mike Jones
With a total of 2,227 sq. km in consolidated property in the Pilbara district, Pacton is continuing to demonstrate its commitment to its strategy in the Pilbara. Following the strategic investment from Eric Sprott and previous land consolidation, is quickly advancing its interest in the Pilbara.

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