Just a quick note on Chalice. I was lucky enough to be a shareholder at the time they discovered Julimar in March 2020 so I have followed the story from the beginning.

I am an exploration geologist by trade and my real world investing is skewed heavily to the resources sector. My intention in joining strawman was/is to apply some rigour to my portfolio in understanding in more detail what and how I value the companies I hold, and then to diversify my investments into other areas using the strawman philosophy to put in the time and effort to understand what I'm investing in. I have been successful in buying explorers and miners helped by a generous dose of luck but using certain heuristics that I have not before sat down and detailed. Call it a gut feel based on having worked on and seen many different ore deposits, and buying at the right time of the cycles that resources follow. However I am out in the field most of the time and have not made a lot of progress to date in putting this in place.

So back to Chalice, they have lucked upon a deposit of size and characteristic that rarely comes along. I believe it could be comparable to deposits such as Oyu Tolgoi, Olympic Dam, Grassberg as some random examples of giant ore deposits in our timezone. It has been difficult to put any valuation on it before this week when they released their first Resource Estimate. So I've now used this weeks market reaction as an initial case valuation. $10. They have demonstrated a near surface deposit of a collection of metals that are very much in the spotlight. At the very least they have a decent sized mining project which is on a fast track. I have been extremely impressed at how it has been managed, since the discovery drill hole they have completed 650 further holes, managed to get results out of Assay labs that are swamped, completed initial metallurgy, social license, etc. This is an impressive team.

So $10 for now but I would expect that they have already had interest from the big companies, BHP, RIO and if I had to guess I would say FMG will make a move first.

Not sure if this is appropriate as a straw? As I said I do intend to work through my portfolio and document valuations (I have only done BHP other than this to date) just need to find the time.

edit: a link to an AFR story on Chalice from the week - https://www.afr.com/companies/mining/chalice-strikes-the-holy-grail-of-a-greener-world-20211110-p597lp