Caeneus Minerals moves to 100% ownership of Pardoo Nickel Project

Published 13-JUN-2018 12:15 P.M.


2 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

Caeneus Minerals Ltd (ASX:CAD) has negotiated terms with Arrow Minerals Ltd (ASX:AMD) to acquire the remaining 20 per cent of the highly prospective Pardoo Nickel Project in Western Australia.

Execution of this agreement is consistent with management’s expansion and exploration strategy, and it was highlighted as a key near-term goal when the company released its quarterly report in April.

An update in May focused on assay results received from a 10 hole reverse circulation drilling program completed in November 2017.

Pardoo Highway exploration confirms survey data

This was aimed at assessing the Pardoo Highway nickel, copper, cobalt deposit.

Drilling results included 4 metres at 0.24 per cent nickel from 108 metres within a broader intersection of 12 metres at 0.14 per cent nickel and 0.015 per cent cobalt.

The results were from hole PRC07, and management sees these as potentially significant given the hole provided an initial test of a magnetic anomaly which returned a strong electromagnetic response during a previous survey.

However, potential is speculative at this stage and investors should seek professional financial advice if considering this stock for their portfolio.

Pardoo acquisition is culmination of significant investment and exploration

As a backdrop, Caeneus’s wholly owned subsidiary, Port Exploration Pty Ltd negotiated a joint venture agreement with Arrow Minerals in September 2016.

Under the terms of the agreement it could acquire a 51% interest in the Pardoo project by spending $250,000 on exploration within 12 months of signing the agreement.

Port Exploration was entitled to acquire an additional 29 per cent interest by spending a further $250,000 on exploration by no later than 12 months after earning the stage 1 interest.

Caeneus has now agreed terms to finalise the acquisition of the remaining 20% interest with Arrow Minerals so that the company will own 100% of the Pardoo Project.

Under the terms of the agreement, consideration of $200,000 will be paid in cash in two instalments with the final instalment of $100,000 due on or before December 12, 2018.

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.


Discover Small Cap
Biotech Stocks

Join thousands of other Investors following our stock commentary for Free