VIC accelerates cobalt and scandium projects
Published 29-JAN-2018 12:34 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
Victory Mines Limited (ASX:VIC) today announced that it is expediting detailed desktop reviews on four highly-prospective cobalt and scandium assets in NSW and WA.
VIC is in the process of acquiring the assets as part of its outright acquisition of 100% of the shares in Cobalt Prospecting Pty Ltd (CPPL). Board and shareholder approval have been received, while the regulator has been apprised of developments since the inception of the transaction. All that’s left is NSW ministerial consent to allow the change in effective control, which is due imminently.
Once complete, this transaction will leverage VIC’s prospects to the fast growing cobalt and scandium sectors.
With due diligence complete, shareholder approval secured and state regulators informed, VIC is accelerating its exploration plans at the four tenements. It will first concentrate on its NSW assets, before moving onto its WA assets.
The two NSW tenements – Malamute and Husky – are located around 150 kilometres west of Dubbo. They are near tenure owned by high profile listed groups Clean Teq (ASX:CLQ) and Australia Mines (ASX:AUZ) with demonstrable high-grade cobalt and scandium mineralisation.
Notably, the Husky tenement is contiguous to AUZ and Platina Resources (ASX:PGM), whilst it is within a five kilometre radius of CLQ’s high profile project.
It should be noted that VIC is an early stage play and anything can happen, so seek professional financial advice if considering this stock for your portfolio.
Preliminary analysis has already determined the NSW projects are located in a region known for enriched cobalt and scandium systems that has the potential to evolve into a global supply chain. The geology team has already applied to the NSW landholders for permission to conduct site visits to facilitate ramping up exploration activities
Husky and Malamute projects relative to peers:
Once complete, VIC will move on to the WA projects — Galah Well and Peperill Hill. These are highly prospective for cobalt mineralisation as historic assay results within and external to the tenures range from 2430ppm-up-to-7290ppm cobalt.
Here are the Galah Well/Peperill Hill tenure relative to peers in WA:
Non-Executive Chairman Dr James Ellingford commented: “Our more immediate priorities are accelerating progressing the desktop reviews for the NSW then WA assets, given the highly attractive fundamentals for cobalt and scandium globally at present. We hope to release the findings of the desktop reviews, which complement the work undertaken during the due diligence phase, shortly after completion materialises.”
While waiting for ministerial consent, VIC is accelerating high-level exploration strategies for the soon to be acquired assets.
The desktop reviews being progressed will factor in legacy drilling and peer comparisons, and be released to shareholders in due course.
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.