BOA's recent announcement that it intends to commence exploration on the northern part of their Symons Hill lease is good news for shareholders. Some good targets were identified in this area some time ago now from an airborne survey. Obviously it is pretty rough terrain but they now have access. BOA still has a number of positves:
The Symons Hill lease is still the best piece of real estate close to Nova. Independence Group has spent in excess of $20M to acquire a lot of ground surrounding Nova but as yet, they have not approached Boadicea - hard to work out but an offer may come in the near future. Meanwhile if BOA finds some traces of nickel from their current exploration program, the sale price will increase heavily.
Good results from the current EM survey work to identify conductors could see drills back in the ground as early as March next year. From there just 1 metre of nickel sulphide could cause a share price explosion. It is already well documented that BOA has less than 50M shares on issue with 70% held by the top 20 shareholders.
Legend Mining released some good auger drill results earlier this week from their Fraser Range lease which is further north than BOA but still on that North East trend from Nova.
IMO the next few months should provide some exciting times for Boadicea so - GOA BOA.
BOA Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
