Yes Tesio, a trading halt followed by news leading to a 10 bagger - that would be awesome. This came out a month ago prior to drilling: Source - Ten Bagger
Mining Projects Group assembles impressive geological team ahead of highly anticipated WA nickel drilling program
Former high-flying WA nickel miner Jubilee Mines was one of the mid-tier mining sector’s biggest success stories.
Jubilee had it all. Big profits and dividends at the height of the nickel boom; big high-grade discoveries at its flagship Cosmos mine; and a big-ticket takeover by Xstrata for a staggering $23-a-share in 2007 which has since become the stuff of mining legend and folklore.
All of which goes a long way to explain why market interest always seems to follow companies which feature former members of Jubilee’s star-studded geological or management team. Talisman Mining (ASX: TLM), with its impeccable Jubilee pedigree (see story above), has been the standout example over the past six years or so.
This week, Ten Bagger came across another, albeit somewhat earlier stage, explorer with a powerful Jubilee imprint on its DNA.
West Perth-based Mining Projects Group (ASX: MPJ) has been quietly working up drill targets at its Roe Project, located 75km east of Kambalda, which contains a 40km strike length of prospective ultramafics with potential to host classic Kambalda-style komatiite nickel deposits.
Detailed geophysical work has been underway in recent weeks to narrow down drill targets and identify the most prospective locations for a commercial discovery.
All of this work is now coming to a head, with an announcement expected shortly on selection of drill targets and mobilisation of a drill rig to site (expected next week)
But before getting too bogged down in the geological detail, it’s worth spending a minute to read about the impressive geological horsepower behind the upcoming exploration program.
Technical Manager Steve Vallance was Chief Geologist Exploration for Jubilee and Xstrata for almost 10 years where played a key role in a number of key discoveries at Cosmos (and before that at Forrestania Gold and LionOre).
Geological consultant Sarah Dowling guided the team that discovered the high-grade Silver Swan nickel deposit and assisted the geological team at Jubilee in unlocking the controls on mineralisation at Cosmos.
Non-Executive Director Neil Hutchison was a Jubilee geologist who conducted regional exploration, target generation, resource drill-outs, project reviews and evaluation while managing the nickel exploration group at the Cosmos Project.
MPJ Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
