Options excised on Monday @ 7c
So that is an extra 1.3m of cash?
Positive sign but won't get too carried away just yet
Most of the prospective parts of the tenement on the left side is private access. See the box labelled "Access agreement pending"
[held]
As promised a short post below.
Nickelsearch came on my radar about few days ago when I noticed trading volumes were higher than normal
There was also a ASX please explain 2 days ago.
IPO in 2021. Initially looking for Nickel around the Yilgarn Craton, they are now concentrating on Lithium with the help of Allkem
Nickelsearch Carlingup's Tenements are 10km away from the Allkem's Mt Cattlin Lithium Operations
What I like
Mt Cattlin desperate for new ore sources and therefore possible JV if discovery is found
Allkem providing technical assistance and knowledge to Nickelsearch in the hunt for Lithium.
Close to infrastructure and port. Even closer than Wesfarmers former Kidman Resources Covalent Lithium.
Small market cap, as of today 15m but I bought around 10m market cap. Was around 20m at one stage yesterday. Almost trading at shell value
What I don't like
Still early days
Poor progress on Nickel exploration causing some to question management. This is also what initially happened to Azure Minerals as well before the discovery of Lithium turned things around. I think the churn in volume that has been happening is a result of some holders wanting an exit
1.76m cash from recent raise (30 sept 23) but is only enough for a few quarters
Still below IPO price.
Only tiny position so far.
[held]