Recently posted a summary of G1A for the STT tipping. I thought I'd copy paste the same info here. Feel free to add further info on this thread.
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As of 10/8/2018
Current share price: $0.21
Market Cap: A$70.7M
Cash: $8.5M
COMPANY INFORMATION
Galena Mining Limited owns the flagship Abra project. Abra is a world class lead-silver-copper-gold-zinc deposit, wholly owned by Galena on a granted mining licence and located in the Gascoyne region of Western Australia.
Recently appointed Alex Molyneux as CEO. Some of the key short-term performance rights milestones:
(i) 2,500,000 – On completion of project development funding for the Abra Base Metal Project;
(iv) 2,500,000 – If the volume-weighted average share price (“VWAP”) of the Company’s shares traded on the ASX equals or exceeds A$0.40/share for 20 business days;
(v) 2,500,000 – If the VWAP of the Company’s shares traded on the ASX equals or exceeds A$0.60/share for 20 business days;
MINERAL RESOURCE ESTIMATE
Indicated Resource of 13.2 Mt at 7.9% lead & 19g/t silver
Inferred Resource of 23.5 Mt at 6.9% Pb & 17 g/t silver (using a 5.0% Pb
cut-off)
Combined 36.6Mt @ 7.3% lead and 18g/t silver
PROJECT ECONOMICS
Scoping Study was completed in July 2018:
Base case NPV (10% discount rate): A$394M with 60.9% IRR
Spot price NPV (10% discount rate): A$615M with 82.5% IRR
Project payback period: 1-1.5 years!!!
Capex A$153M
Targeting production in 2.5 years (Q1 2021)
Infill drilling currently in progress and the first two holes have produced better than expected results. Assays are pending for six additional holes.
PFS currently in progress, due to be completed this quarter (Sep 2018).
TECHNICAL ANALYSIS
From TA perspective, about to breakout from cup & handle formation. The price also recently 'emerged' from the Ichimoku Cloud, and tenkan-sen (conversion line / light blue colour) has just crossed above kijun-sen (base line / brown colour) on the daily chart - i.e. bullish sign.
It is currently testing the resistance zone at $0.21-$0.22. Once this is cleared, it will be on its way to test previous all-time high of $0.26.
NEAR-TERM CATALYSTS
- Assay results for further six holes (infill drilling) in the coming weeks
- PFS due in Sep 2018
G1A Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
(20min delay)
