Western Mines Group
Primary ticker: ASX:WMG
Stage of development: Exploration
Primary mineral: Nickel Cobalt Copper PGMs
Project to promote: Mulga Tank
Project location: Australia
Website: www.westernmines.com.au
An exploration driven company looking to create significant shareholder returns through discovery. Focused on our flagship Mulga Tank Project, an extensive nickel sulphide mineral system and likely largest nickel sulphide discovery in Australia for the last 50 years.
Cash: AUD2.5M
Debt: NIL
Major shareholders:
Equentia Natural Resources – 8.0%
Apertus Capital – 5.3%
BNP Paribas Nominees – 3.5%
Muncha Cruncha – 3.1%
Demasiado – 2.8%
Management ownership – 11.3%
Financials
Management Profile
Dr Caedmon Marriott, Managing Director
Managing Director Dr Caedmon Marriott has over 18 years experience in mineral exploration and equity capital markets. Caedmon was previously Managing Director of Western Australian gold and nickel explorer Aldoro Resources (ASX:ARN) and prior to that Managing Director of private exploration company Hanno Resources, responsible for establishing and managing the company’s frontier exploration strategy in Western Sahara. Prior to Hanno, Caedmon worked as a buy-side mining analyst at GLG Global Mining Fund, Och-Ziff Capital and JPMorgan Natural Resources Fund. He holds a PhD in Earth Sciences, is a Chartered Financial Analyst and a member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and the Australian Institute of Geoscientists (MAIG)
What is your rationale for taking part 121 Mining Investment?
We are looking for institutional and strategic investors to support our ongoing exploration efforts at Mulga Tank, the largest nickel sulphide discovery in Australia for the last 50 years and will likely be one of the top 10 deposits globally.
What recent news would you like to highlight to investors attending?
Literally everything we have done over the last 12months:
14 March – MTRC024 Assays – Matrix-Massive Sulphide over 4.5% Ni
5 February – Mulga Tank JORC Exploration Target
11 January – More RC Intersections over 1% Ni at Muga Tank
6 December – MTRC018 Assays Confirm Massive Sulphide 1.8% Ni, 4.9% Cu
30 November – MTRC009 Assays Confirm 367m of Nickel Mineralisation
31 October – MTD028 Disseminated Sulphide 140m at 0.49% Ni
4 October – MTD027 Best Assays Yet at Mulga Tank
30 August – MTD026 Assays 840m of Nickel Sulphide Mineralisation
4 April – MTD023 Assays Confirm Discovery of Significant Nickel System
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Complete Phase RC drilling program and drill deep diamond hole EIS3 targeting compelling conductive MobileMT target and potential sulphide enriched keel of the Mulga Tank intrusion.
6 Months:
Initial metallurgical testwork, modelling and first JORC Mineral Resource of the shallow mineralisation.
12 Months:
Expansion of drilling programs, first belt-wide exploration of unique untested komatiite nickel system.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Finding capital to continue exploring a globally significant nickel discovery given the short term negative sentiment towards nickel. We overcome this by being very frugal with our exploration spend and continuing ground breaking work through this negative period.
What do you think makes your company such a compelling investment?
Mulga Tank will be the largest nickel sulphide discovery in Australia for the last 50 years and top 10 globally.
What are the top 3 key investor takeaways?
Exciting exploration potential
100% ownership of recently discovered extensive nickel sulphide mineral system with belt-scale potential
Low market cap and leverage to discovery success