Whilst mining majors seem to have overlooked South Korea in their global quests for commercial resources, the small capped Peninsula Mines (ASX: PSM) is developing in-country connections and applying modern exploration techniques to previously overlooked projects.
Because South Korea is the epicentre of the world’s electronics industry, home to the likes of Samsung, LG, Sony and Panasonic and is also the world’s largest lithium ion battery manufacturer.
PSM is working hard in the region to shore up its zinc-silver, copper-gold and graphite targets.
It has ramped up its exploration activities lately and is currently drilling into its main zinc target at its flagship Ubeong Zinc-Silver and Copper-Gold Project.
Zinc is one of the strongest performing commodities right now, as is graphite, so there looks to be a lot of upside for PSM if it can bring some major South Korean electronics manufacturers to its table.
PSM has already signed an offtake MOU agreement with a Korean end user, which requires the supply of at least 20,000 tonnes of graphite from the mined ore PSM digs up across its multiple graphite projects in the country.
Now, PSM’s immediate focus is to complete its extensive exploration programme and define mineral resources.
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PSM recently discovered Super-Jumbo graphite flakes at its newly acquired Chugwang Graphite Project in South Korea, giving it further confidence that it is exploring in the right area.
With PSM currently capped at approximately A$11 million, this overlooked stock, exploring in an overlooked country, could spark some interest amongst investors over the coming weeks and months as it drills into zinc targets and shores up its graphite business.