More clarity provided in today's Annual report on the Munni Munni JV upcoming JV formalisation and initial assay results pertaining to the new "Conglomerate Gold" work done by ARV over the last few months.
The important bits from the annual report released today as below:
MUNNI MUNNI, WA - PGM AND GOLD PROJECT
Platina Resources Ltd 30% - Artemis Resources 70% - M47/123-126 and E47/3322
Situated in the Pilbara region of Western Australia, the Munni Munni Complex is one of Australia’s most significant PGM occurrences. Platina entered into a binding agreement with Artemis Resources providing for Artemis’ subsidiary Karratha Metals Pty Ltd to earn a 70% interest in the Mining Leases held by Platina by expending $750,000 in exploration over a three-year period. Subsequent to year end, the conditions were recently met reducing Platina’s holding to 30%. Artemis recently completed drilling, costeaning and geophysics programs at Munni Munni and the data is still being collated and the results have not yet been announced.
and
“In August 2018, the Company announced that that Artemis satisfied the conditions required to acquire a 70% interest and formal documentation formalising the joint venture is currently being finalised.”
In summary, as far as I am concerned, if the data to be announced demonstrates that conglomerate gold exists within the Hardy formation at Munni Munni it's an instant value added game changer for Platina and their shareholders.
Just my views
Cheers
HR
No advice, looking forward to an early " Conglomerate Gold" announcement.
PGM Price at posting:
9.2¢ Sentiment: Hold Disclosure: Held
