Hardey renews focus on NSW Burraga copper project
Published 14-FEB-2018 10:52 A.M.
1 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Hardey Resources Limited (ASX:HDY) has this week initiated a renewed focus on its core Burraga copper project in NSW.
The company sent its Exploration Manager, Tom Langley, as well as a team of NSW-based geologists to the project site this week to undertake further copper tailings data review and metallurgical testing.
Burraga is considered as HDY’s core asset, however recent news flow has placed an emphasis on its gold projects in Western Australia. The company has stated its intention to shift focus back onto the Burraga project over the next two quarters, with the recommencement of a drilling programme devised by the company in 2017, as well as ongoing metallurgical testing.
The company will go beyond the plan it devised last year, through an increase in the scope of the drilling programme and expedited mobilisation of the drillers in the near-term. It is budgeting a 6-month spend of ~A$500,000-$1,000,000 on Burraga, depending on the exploration results it gets from ongoing activities at the site in the coming months.
To support this budget, HDY will seek to undertake a capital raise for the above amount in the near-term, following consultation with corporate advisors to determine the best form that should take. The anticipated injection of funds should see the company maintain a good cash balance, enabling it to continue with the proposed exploration program at Burraga and activities towards its other metals projects.
It should be noted however, that HDY is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.