Terrain Minerals
Primary ticker: ASX: TMX
Stage of development: Exploration
Primary minerals: Gallium, Gold, Copper, Nickel and Lithium
Project to promote: Lort River Nickel/copper, Wildflower Gold AND Larin’s Lane Gallium Projects
Project location: Australia
Website: www.terrainminerals.com.au
Terrain is an early-stage explorer with a tight capital structure (Top 200 shareholders = 86% of the register), Terrain Minerals share price is highly leveraged to exploration success.
All projects are located in Western Australian (Gallium, Gold, Nickel/copper and Lithium) and a large Gold/Copper project in Queensland. Terrain Minerals is committed to undertaking major drilling campaigns throughout 2025, including 2 drilling programs for the first quarter 2024.
Larins Lane – Gallium project over 27km2, area, with a Jorc compliant target and metallurgical work underway. Gallium in regolith (Sand/clays) from surface to ~110m.
Wildflower – Gold drilling over new and extending existing drilling over re modelled targets.
Lort River – 4 Sulphide Bedrock conductors, three in and or adjacent to a newly identified intrusive unit in the Albany Fraser belt are now being drill tested in December 2024 and January 2025.
Pending or all most all granted as of 06/12/2024:
Biloela: Copper & Gold Project is located along strike of the Cracow Gold Mine in Queensland (See ASX release dated 21 June 2023 for more information on the rationale, geological setting and walk-up drill targets already identified within this key project area).
Carlindie: Lithium Project is strategically located between Wildcat Resources (ASX: WC8) and Kali Metals (ASX: KM1) tenements in the East Pilbara of Western Australia. The Company has prioritised the granting of its Carlindie tenement package and is continuing to work successfully towards achieving its goal.
The objective? A company-making discovery in 2025
Cash: AUD 1.1M
Debt: NIL
Major shareholders:
Ringwood Managment P/L (S/Fund) – 6.1%
Mr Mark Tkocz – 5.5%
Mr Justin Virgin – 5.27%
Mr Jonathan Lim – 5%
Mr Johannes Lin – 3.61%
Management ownership- 13%
Financials
Management Profile
Justin Virgin – Executive Director
Mr Virgin has over 16 years’ experience as a ASX Director of listed exploration companies as well as 18 years of experience in the financial services and Securities industry with expertise in providing a wide range of financial services which includes capital raisings, promotion, providing general corporate advice listed small‐cap companies and other investment advice involved in negotiations, mergers, acquisitions and valuations.
Mr Virgin also has over 10 years of onsite mining experience operating in remote and isolated sites throughout Western Australia and the Northern Territory on site. His experience covers both a board and project level, project acquisition and sale negotiations, mine closures and rehabilitation work as well as extensive preventative maintenance planning and execution on onsite mobile fleet and of exploration program.
Mr Virgin studied Marketing before completing a Master of Business Administration (MBA) from Edith Cowan University in Western Australia. He also holds trade qualifications as an Automotive Electrician and certificate of trade studies and has qualifications in advanced electrical & hydraulic systems.
What is your rationale for taking part in 121 Mining Investment?
Exposure.
Despite the Company being 17 years old, Terrain Minerals has only just restarted to promote the company and its exciting assets during 2023, and we continue to re building.
Thus, Terrain Minerals may not be on everyone’s radar, which is unfortunate given the high-quality assets within the Company’s portfolio.
What recent news would you like to highlight to investors attending?
Larin’s Lane – Gallium Project:
2024/11/06 – SRK, Jorc compliant exploration target.
2024/12/05 – Metallurgical Studies underway.
Wildflower – Gold Project:
2024/11/12 – Wildflower Gold Air-core results.
2024/11/26 – Wildflower gold High Impact December RC Drilling Program.
Lort River – Nickel/copper:
2024/08/13 – Bedrock Conductors detected within EYE feature at Lort River.
Biloela: Copper & Gold Project:
2023/07/21 – Project background information grant expected Q1/25.
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Continue to advance our Gallium project and seek JV partners
Follow up Gold Drilling (Wildflower & Monza)
Lort River – Targeting to make a major Nickel copper discovery in WA
6 Months:
Wildflower Gold – continue drilling
Have both the Carlinde Carlindie: Lithium and Biloela: Copper & Gold Projects granted and commence ground activities.
12 Months:
Mineral Resource and/or Jorc catagories at Larins Lane Gallium, and also at Wildflower Gold and Lort River Nickel/Copper projects.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
No company-specific risks given that Terrain Minerals has been working methodically throughout 2023 to ensure it is well-positioned to roll out its 2024 drilling campaigns.
What do you think makes your company such a compelling investment?
Terrain Minerals market cap is around AUD6 million.
The market cap out of many of ourt peers are >AUD 20-50 million.
The stack difference can likely to put down to the simple fact that our peers have been much more active in the promotional activities then we have been over the past few years and potentaly due to current soft investor sentiment.
As a result, terrain Minerals is one of those rare hidden gems, that has kept on exploring …. just waiting to be discovered by an astute investor.
What are the top 3 key investor takeaways?
1. Advancing Gold, Gallium, Lithium Projects in Western Australia.
2. Diversified group of large high-quality project in known mining districts, across multiple commodities. Companies granted and pending tenements are in Western Australian and Queensland projects.
3. Committed to undertaking major drilling campaigns throughout 2025 and with new exciting projects in Copper/Gold and Lithium being granted. (In other words, regular news flow anticipated throughout 2025).