MTH - Mithril Resources - Aussie Stock Forums

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  1. #1

    Default MTH - Mithril Resources

    Predominantly nickel explorer with a BHPB connection.

    • Outstanding Shares 47.1M
    • Market Cap$12.7M
    • Cash on hand$4.5M
    • Substantial Shareholders – Minotaur Resources Investments Pty Ltd 18.9% – Consolidated Nickel Pty Ltd 17.3%

    Although LME stocks are peaking and the PON has come off (so probably not right yet) this company has a large amount of exploration area with involvement in 17 joint ventures.A low volume stock with a bit of a snail appeal to them and seemingly in no hurry to prove up any of their high possibility targets.Next year sees drill activity and Silver Swan North at present.The company could be a dud but with BHPB involved i think they may go somewhere.

    A recent power-point presentation on the 14 of November is for further research. (`cause ya gotta do your own )

  2. #2
    disbelieve if you can doogie_goes_off's Avatar
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    Default Re: MTH - Mithril Resources

    Now comes with exposure to Vanadium of similar quality to Reed Resources which has a market cap ~15x Mithril's. I have now found an entry into specialty metals even with their other broad ranging projects. Very cheap IMO

  3. #3
    disbelieve if you can doogie_goes_off's Avatar
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    Default Re: MTH - Mithril Resources

    Some good grades in this mornings announcement

    Very seldom traded it seems...

  4. #4
    Make the drill work for YOU springhill's Avatar
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    Default Re: MTH - Mithril Resources

    MC - $8.3m
    SP - 3.8c
    Shares - 220m
    Options - NQ
    Cash - $5.5m

    Drilling Underway at Illogwa Iron Oxide Copper Gold Target Area
     3,800 metres of air core, reverse circulation and diamond drilling planned as first ever drill test of newly recognised Proterozoic copper gold province
     Four priority drill targets comprising outcropping copper gold mineralisation (rock chips up to 12.6% copper and 1.4g/t gold) to be tested first
     Diamond drilling co-funded (up to $100,000) by Northern Territory Government under Geophysics and Drilling Collaborations Program
     First results expected by late August 2012

    Base Metal Exploration Northern Territory
     Outcropping copper-gold mineralisation continues to be found at the priority Illogwa Iron Oxide (IOCG) Target Area with 4 new prospects identified Mini Me, El Gordo, Nigel and Dixie.
     Rock chip sampling of Mini Me copper mineralisation returns values up to 7.8% copper and 1.4g/t gold.
     Surface channel sampling at El Gordo returns 7m @ 0.94% copper, 2.8g/t silver and 0.05g/t gold.
     Soil sampling underway through eastern portion of Illogwa to identify additional targets in soil covered areas ahead of maiden drilling program planned for September 2012 Quarter.
     Desktop review of the Yambah Project identifies two prospects Red Rock Bore and Harry Creek for immediate follow up.
     Historic wide spaced reconnaissance drilling at Red Rock Bore has returned a best intersection of 12.35m
    @ 0.1% copper, 0.5% lead, 3.3% zinc, 5.1g/t silver from 131.25 metres in drill hole RRK31 including 2.00m
    @ 10.9% zinc from 132.3m metres.
     Ground EM underway at the Red Rock Bore and Harry Creek prospects.
     MMG have completed an initial field reconnaissance of nickel targets throughout the Huckitta Project under the terms of the MMG Nickel Joint Venture.

    Base Metal Exploration Western Australia

     4 Reverse Circulation drill holes (922 metres) completed to test VTEM anomalies at the Talga East and
    Gorge North prospects (East Pilbara Project). Drilling intersects target horizon with assays due by mid-
    September 2012.
     Discussions with third parties regarding possible divestment of the Sandstone Nickel Project continuing.

    Mithril is the largest shareholder in Musgrave Minerals Limited (ASX: MGV) with 9.28 million shares and 2.5
    million options. Mithril vended tenements to Musgrave Minerals as part of their successful IPO that was
    completed on April 29th, 2011. Musgrave Minerals is actively exploring the prospective Musgrave Province in
    South Australia with two drilling programs currently underway.
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    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

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