S2 Resources

Financials:

Primary ticker: ASX:S2R
Stage of development: Exploration
Primary minerals: Nickel, Gold, Base Metals
Project to promote: Fosterville gold project (Victoria), Koonenberry nickel-copper project (NSW), Jillewarra gold project (WA), Finland gold project
Project location: Australia, Finland
Website: www.s2resources.com.au
Corporate presentation: Click here

S2 Resources is a minerals exploration company focused on gold and base metals in Australia and Finland. The company is targeting “company making” discoveries and the team comprises the core personnel who made the Nova-Bollinger nickel-copper discovery under Sirius Resources, before this company was taken over for AUD 1.8B. S2 Resources is well positioned to achieve its objectives, having a strong balance sheet, a portfolio of highly prospective exploration ground, a highly successful team of explorers, and a breadth of corporate experience. S2’s flagship properties are the recently granted Greater Fosterville gold project, surrounding Agnico Eagle’s Fosterville mine in Victoria, and the belt-scale Koonenberry nickel-copper project in NSW.

Cash: $5.1M (as of June 2023)
Debt: Nil

Major shareholders:
Mark Creasy and related entities (Perth) 16.4%
Jupiter Asset Management (London) 14.7%
Paradice Investment Mgmt (Sydney) 7.2%
Management Ownership – 3.7%

Map of Projects

Management Profile

Mark Bennett – Executive Chairman
Mark is a geologist and mining executive with more than 30 years of experience in discovering, developing, and financing mines. He has worked in various technical, operational and board roles with WMC and LionOre. He was the founding managing director and CEO of Sirius Resources, which was taken over by IGO for AU$1.8 billion, and demerged S2 as part of that deal. He is a two-time AMEC prospector award winner for his discoveries which include the 5Moz Thunderbox gold mine and the Nova-Bollinger nickel-copper mine and has raised over AUD1B in equity and debt for the exploration and development of various projects.

What is your rationale for taking part 121 Mining Investment?

We are raising awareness of our projects in Western Australia – particularly the potential of the Greater Fosterville gold project, the Koonenberry nickel-copper project and the Jillewarra gold project. We are also actively considering divestment options for our Finland gold project.

What recent news would you like to highlight to investors attending?

5 October 2023 – Greater Fosterville Exploration Licence granted

• Nearly 400 square kilometre exploration licence surrounding Agnico Eagle’s Fosterville gold mine granted
* Won in highly competitive government tender process, in competition with Kirkland Lake (owner of Fosterville prior to takeover by Agnico Eagle) and numerous other gold mining companies
* Aboriginal access agreements completed, heritage clearances finalised and drilling permits granted
* Drilling starting in late October to follow up where Kirkland Lake (prior to the Agnico Eagle takeover) left off

15 June 2023 – Koonenberry Exploration Licences granted

• Belt-scale nickel-copper project covering ~3,000 square kilometres
* Exploration licences granted late June
* Commenced landowner access agreements
* Ground geophysics (EM) to start in late October

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

• Fosterville: diamond drill program to follow up previous gold intercepts obtained by Kirkland Lake prior to them being forced to relinquish the ground

* Koonenberry: ground geophysics to identify conductors that may be massive nickel-copper sulphide bodies

• Finland: divestment of Central Lapland Greenstone Belt gold properties

6 Months:

* Fosterville: ongoing diamond drilling of gold prospects, expansion of geophysics (IP) to identify and prioritise more targets

* Koonenberry: Drill testing of EM targets

* Jillewarra: start of reconnaissance drilling of 35 kilometre long gold target along strike from the Big Bell gold mine

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

The usual discovery risk, but we are well funded, and have several compelling exploration opportunities

What do you think makes your company such a compelling investment?

1. A team with a track record of significant discoveries through multiple companies, and the proven ability to both create value for shareholders and build profitable mines
2. A well supported and tightly held share register, with Australian billionaire prospector Mark Creasy and several institutional shareholders holding approximately half of the shares on issue
3. Three highly prospective and compelling exploration projects in the best mining jurisdiction in the world