Viking Mines
Financials:
Primary ticker: ASX:VKA
Stage of development: Exploration, Development
Primary minerals: Critical Mineral – Vanadium
Project to promote: Canegrass Battery Minerals Project
Project location: Western Australia
Website: vikingmines.com
Corporate presentation: Click here
Viking Mines Limited (ASX: VKA) is a Vanadium focused explorer with an objective of advancing its flagship Canegrass Battery Minerals Project to development.
The Canegrass Project benefits from a large undeveloped Inferred Vanadium Mineral Resource of 79Mt at 0.64% V2O5 (Vanadium Pentoxide), hosted in vanadiferous titanomagnetite (VTM) Mineralisation as part of the Windimurra Layered Igneous Complex. It is located in the Murchison region, 620km north-east of Perth, Western Australia and accessed via sealed roads from the nearby township of Mt Magnet to within 22km of the existing Mineral Resources. The Project is situated within ~95km2 of exploration tenements with very limited follow up exploration targeting the growth potential of the V2O5 in the +10 years since the Mineral Resource was first calculated. Viking has recently drilled multiple targets which have the potential to significantly add to the already large Mineral Resource base, with high grade intercepts presenting an opportunity to substantially increase the average grade. The Company is targeting a high grade portion within the resource >30Mt >0.8% V2O5 as this has been demonstrated as economically viable with similar projects in the region.
Cash: AUD$4.13M
Debt: NIL
Major shareholders:
Vanguard Superannuation Pty Ltd – 8.9%
ING Investment Fund Pty Ltd – 7.9%
Lesamourai Pty Ltd – 4.6%
Syracuse Capital Pty Ltd – 4.0%
Barbary Coast Investments Pty Ltd – 3.8%
Management Ownership – 3.32%
Management Profile
Julian Woodcock – Managing Director
Mr. Woodcock holds both a Bachelor of Science (Geology) from the University of Manchester (UK) and a Master of Science (Mining Geology) from the Camborne School of Mines (UK). Mr. Woodcock is also a Chartered Professional geologist with the AusIMM and a Fellow of the Geological Society of London. His career spans more than 2 decades in the exploration and production of various commodities across multiple jurisdictions.
Previous engagements include Senior Management roles with Kinross Gold (NYSE:KGC), Gold Fields (NYSE:GFI), Evolution Mining (ASX:EVN) and Gold Road Resources (ASX:GOR). Experience ranges from international open pit and underground production geology roles through to a decade working as Exploration Manager in the WA Goldfields, leading large exploration teams with multi million-dollar budgets taking exploration projects from discovery through to development.
Notable accomplishments involve significant gold discoveries and resource ounce growth including the +2Moz Invincible Deposit at St Ives which advanced from discovery drillhole to production in <3 years, the 0.3Moz Gilmour deposit at Yamarna defined in <12 months and +1Moz resource conversion at Gruyere. Mr. Woodcock brings a significant amount of technical and operational experience to Viking Mines in the exploration and development of resource projects.
What is your rationale for taking part in 121 Mining Investment?
Family Offices, Funds, High Net Worth.
What recent news would you like to highlight to investors attending?
4 August 2023 – VIKING ACHIEVES EXCEPTIONAL VANADIUM RECOVERIES UP TO 99.3%
20 July 2023 – VKA INTERSECTS THICK MASSIVE MAGNETITE AT FOLD NOSE
29 June 2023 – VIKING HITS MULTIPLE THICK ZONES OF MAGNETITE AT KINKS SOUTH
22 June 2023 – VIKING INVESTOR UPDATE PRESENTATION-RIU INVESTMENT SHOWCASE
14 June 2023 – VKA DEFINES SUBSTANTIAL UPSIDE POTENTIAL AT CANEGRASS
22 May 2023 – VIKING COMMENCES METALLURGICAL TESTWORK AT CANEGRASS
18 April 2023 – VIKING DRILLING HITS 12M OF HIGH-GRADE VANADIUM AT 1.06%V2O5
30 November 2022 – VIKING TO FARM IN TO SUBSTANTIAL BATTERY MINERAL RESOURCE
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
Further metallurgical testwork to be investigated to advance on excellent results received to date.
Updated Mineral Resource Estimate with results from recent drilling.
6 Months:
Decision to commence scoping Study to Commence Early 2024.
Receive balance payment of A$3M as ruled by high-court from legal case in Ghana.
12 Months:
Complete scoping study and determine next steps for the project.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Market sentiment around Vanadium. The growth of Vanadium Flow Battery sector is commencing but the market hasn’t recognised this.
What do you think makes your company such a compelling investment?
Low market cap and EV with substantial high value project and with major newsflow Catalysts on the horizon (drill results, MRE update, metallurgical testwork etc).
What are the top 3 key investor takeaways?
Large Vanadium Mineral Resource with substantial growth potential.
Rapidly advancing project with fully funded extensive work programme
Low market cap with major newsflow catalysts on the horizon