What the Analysts Say
WHAT THE ANALYSTS SAY: Interesting news and views from across the Resource Analyst universe.
Website: www.beerandco.com.au
Company: Syndicated Metals (ASX: SMD)
Syndicated Metals has over 5.9 million tonnes of Resources containing 83,000 tonnes of copper, 27,000 ounces of gold and over 400,000 ounces of silver in its 2,469 square kilometre tenement package northwest of Cloncurry in Queensland.
SMD has executed a Joint Venture agreement with CopperChem to supply ore to its recently closed mill at the Great Australian mine near Cloncurry.
SMD is currently undertaking a feasibility study, funded by CopperChem.
Beer & Co estimate that it will cost less than $20 million in capital (ie. $10 million for SMD, and assume 50% debt funded) for SMD to be in production by 2015 Q2.
Barbara depth confirming under‐ground potential
In September, SMD announced drilling had intersected broad zones of mineralisation below the Barbara South open pit, with 40m at 1.75 per cent copper from 186m down‐hole, including 9m at 4.01 per cent copper; and 32.5m at 1.9 per cent copper from 225m down‐hole, including 14m at 2.73 per cent copper.
Further high-grade zones are now emerging below the mid lode and the south lode, with 6m at 2.23 per cent copper from 290.5m down‐hole and 0.9m at 2.14 per cent copper from 288m.
Lillymay Resource drilling
In September, SMD announced recent infill RC drilling confirmed extension of the mineralised zone, with 2m at 1.8 per cent copper from 91m down‐hole; and 3m at 1.69 per cent copper from 98m down‐hole.
SMD are targeting a maiden JORC Resource before the end of 2014.
SMD have an exploration target of 400,000 tonnes to 800,000 tonnes 2 per cent to 3 per cent copper for Lillymay.
Website: www.breakawayresearch.com
Company: Alligator Energy (ASX: AGE)
Alligator Energy continues to concentrate its activities on the world class Alligator River Uranium Province, the location of Australia’s highest grade uranium deposits and mines, making it prime real estate for uranium exploration, with the area being underexplored, particularly areas under sandstone cover.
Alligator is managed by an experienced and committed team, and since listing in early 2011 has been focussed and has had significant exploration success to date in what can sometimes be a technically challenging exploration environment, whilst successfully weathering a very challenging investment climate for junior resources, and the uranium sector in particular.
The company has developed its exploration techniques to suit the geology.
Now backed by their cornerstone investor, the Macallum Group, Alligator is currently drill testing a number of high-priority prospects generated over the last few years.
Alligator Energy is an Australian mineral exploration company whose sole focus is exploring for high-grade unconformity related uranium mineralisation in the world class Alligator River Uranium Province of the Northern Territory, which hosts the high grade Ranger, Nabarlek and Jabiluka deposits.
Subsequent to listing on the ASX on February 1, 2011 after raising $15 million in a fully subscribed IPO, the company has defined a maiden JORC-compliant resource at the Caramal prospect, whilst defining a number of high priority prospects.
Work to date over the company’s projects has included over 20,000m of RC and diamond drilling.
Since listing in early 2011 Alligator has concentrated activities solely on the Alligator River Uranium Province, despite the investment climate being less than ideal for uranium explorers – Alligator is one of the few ASX-listed junior explorers now solely exploring for uranium in Australia.
Parts of the company’s holdings were acquired through a competitive tender from Cameco Australia Pty Ltd, a subsidiary of the major Canadian uranium miner Cameco.
The company’s activities are focussed on prospects that they believe have the potential for a minimum contained 100 million pounds of uranium.
Disclaimer: The above is intended as a guide only. The Roadhouse accepts no responsibility for investments made from this advice, successful or otherwise.
The views, opinions or recommendations of this article do not in any way reflect the views, opinions, recommendations, of The Resources Roadhouse.
The Roadhouse makes no representation or warranty with respect to the accuracy, completeness or currency of the content. The content is for educational purposes only and does not constitute financial advice. Independent advice should be obtained from an Australian financial services licensee before making investment decisions.