Desert Metals
Primary ticker: ASX:DM1
Stage of development: Exploration
Primary minerals: Gold & Lithium
Project to promote: Adzope & Tengrela South
Project location: Côte D’Ivoire
Website: www.desertmetals.com.au
Desert Metals Limited is a mineral exploration and development company listed on the ASX (ASX: DM1). The company is primarily focused on gold and EV minerals in Côte d’Ivoire and Western Australia. DM1 has the right to earn a majority interest in seven gold and lithium projects covering 2,769km² of granted mineral permits and permit applications in Côte d’Ivoire, West Africa. Currently, DM1 owns 51% of the Tengrela South project, which is located 30km south of the operating Sissingue gold mine. The company also has high-grade Rare Earth Elements and Platinum Group Elements at its Innouendy Project in Western Australia. Additionally, DM1 has several projects focused on nickel, copper, and base metals in the Narryer Terrane of the northwest Yilgarn Craton, Western Australia.
Cash: AUD$3.5m
Debst: Nil
Major shareholders:
CITYSCAPE ASSET PTY LTD <CITYSCAPE FAMILY A/C> 3.81%
MR DIARRA YACOUBA – 3.24%
ROMAN RESOURCE MANGEMENT PTY LTD – 2.41%
FATHOM GEOPHYSICS AUSTRALIA PTY LTD – 1.96%
Dr Robert Angus Castle Stuart – 1.94%
Management ownership ~11%
Financials
Management Profile
Mr Stephen Ross, Non-Executive Director
Mr Ross is a geologist, independent consultant, and public company director who has been involved in the international minerals industry in technical, business development, and corporate positions for 30 years. Stephen has sourced significant investments for junior explorers and pre-development resource companies worldwide while holding managing director and technical positions when based in Central Asia, West Africa and Sri Lanka.
He holds a Bachelor of Science in Geology and a Graduate Diploma in Applied Finance & Investment. Stephen is currently non-executive Chairman of Power Minerals Limited and is a non-executive director of ASX-listed Pinnacle Minerals Limited and Trigg Minerals Limited.
What is your rationale for taking part in 121 Mining Investment?
Market support and new developments
What recent news would you like to highlight to investors attending?
Acquisition of Côte D’Ivoire assets -17th January 2024
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Granting of Adzaop license
6 Months:
Drilling of Adzaop license
12 Months:
Mineral Resource Adzaop license
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Access to capital > alignment with CPS Capital
Exploration risk > a number of high probability projects in both gold and lithium
Commodity risk > exposure to gold and lithium
What do you think makes your company such a compelling investment?
The Adzope gold project is one of the most prospective grass roots gold projects in West Africa with extensive hard rock and alluvial gold workings providing immediate targets for significant gold mineralisation.
What are the top 3 key investor takeaways?
1. Tengrela South is only 30km away from the operating Perseus Mining Sissingue gold mine. We are exploring for repetitions of this 1moz gold deposit and any gold discoveries are potentially able to be processed at Sissingue.
2. The Adzope gold project (permit pending) has extensive active artisinal hard rock and alluvial gold workings covering a +2.1km2 area that is ready for immediate drilling. This area has the potential for a significant gold discovery.
3. Extensive exploration permits covering gold and lithium in the most prospective and supportive country in West Africa.