Mt Monger Resources
Financials:
Primary ticker: ASX:MTM
Stage of development: Exploration
Primary minerals: Gold
Project to promote: East Laverton, Mt Monger and Ravensthorpe
Project location: Australia
Website: mtmongerresources.com.au
Corporate presentation: Click here
Mt Monger Resources Limited is an exploration company searching for gold, lithium, nickel, rare earth elements (REE) and base metals in the Goldfields and Ravensthorpe districts of Western Australia. The Company holds over 4,500km2 of tenements in three prolific and highly prospective mineral regions. The Mt Monger Gold Project comprises a contiguous area containing known gold deposits occurrences in the Mt Monger area, located ~70km SE of Kalgoorlie and immediately adjacent to the Randalls gold mill operated by Silver Lake Resources Limited. The East Laverton Gold Project is a regionally extensive package of underexplored tenements prospective for REE, gold and base metals. The Ravensthorpe Project contains a package of tenements in the southern part of Western Australia between Esperance and Bremer Bay which are prospective for a range of minerals including lithium, REE, nickel and graphite. Priority drilling targets have been identified in all project areas and the Company is well funded to undertake effective exploration programs. The Company has an experienced Board and management team which is focused on discovery to increase value for Shareholders.
Cash: AUD $1.4M
Debt: NIL
Major shareholders:
Citicorp Nominees – 7.4%
Jaek Holdings Pty Ltd – 5.9%
Bowman Gate Pty Ltd – 5.8%
CCGF Holding Pty Ltd – 2.8%
BNP Paribas Noms Pty Ltd – 2.5%
Management – 20%
Management Profile
Mr Reynolds is an experienced geologist with more than 30 years involvement in mineral exploration, project development and mining both within Australia and internationally. Mr Reynolds has worked with major mining groups including WMC Ltd and OceanaGold Corp in gold, nickel, copper and uranium projects spanning a number of different regions. Over the last 15 years Mr Reynolds has served as an executive and senior manager for a number of ASX listed companies. Mr Reynolds was a founding director of Mt Monger Resources Ltd and was involved with the successful listing of the company in mid-2021 which raised $5M to explore projects in Western Australia.
What is your rationale for taking part 121 Mining Investment?
Mt Monger Resources has an active, multi-commodity exploration program and holds tenements in two emerging, district-scale rare earth element provinces. Consequently the company is looking to connect with investors keen to gain exposure to battery and critical metals projects at an early stage of exploration and development. Further capital raising is being considered to support an expanded exploration program, with a focus on making a significant discovery.
What recent news would you like to highlight to investors attending?
Please refer to recent announcements relating to exploration results from our REE and critical metal exploration programs:
1 Sep 2022 – Growing Potential for District-Scale REE Mineralisation at East Laverton
19 Aug 2022 – Aircore Drilling Confirms Widespread REE Mineralisation at East Laverton
3 June 2022 – Key Tenements Granted at Ravensthorpe REE-Li-Ni Project
22 Apr 2022 – Key Tenement Secured at Ravensthorpe Project for Nickel and Lithium Exploration
4 March 2022 – Positive Geochemical Results from East Laverton REE Target
9 February 2022 – New Battery Metal Project Acquisitions
What are your key goals in 3 months, 6 months, 12 months?
3 Months:
1) Implementation of drilling at the East Laverton Project to assess the scale, continuity and grade of REE mineralisation across a number of broad target areas.
2) Reconnaissance exploration of Ravensthorpe Project for lithium and REE; developing drilling targets.
6 Months:
Active exploration drilling programs at multiple project areas testing REE, lithium and gold targets. First-pass and follow-up stages of activity designed to test for potential resources.
12 Months:
Advancing resource drilling on one or more mineral discoveries with potential to be developed into an operating mine.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Principal risks and challenges for the company relate to increasing costs and compliance requirements in the exploration sector. The company is overcoming these by prudently managing expenditure, having a strategic focus on drilling for discovery and an emphasis on ESG performance.
What do you think makes your company such a compelling investment?
Mt Monger Resources has strategic landholding in a number of established mining and emerging critical mineral provinces. In particular the company is an early mover in two new areas of district-scale REE mineralisation. As it is recently listed, the company has a tight capital structure and an attractive market capitalisation.
What are the top 3 key investor takeaways?
1) Highly prospective project areas offer multi-commodity battery and critical mineral exploration opportunities (REE, Li, Au, Ni, graphite)
2) Recent results highlight potential for deposit discovery and share price is clearly leveraged to exploration success.
3) Experienced and committed management team focused on realisation of value for shareholders.