Stavely’s $16M IPO puts Navarre’s Miga Arc prospects in the spotlight
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
Navarre Minerals Ltd (ASX:NML) could be poised for a marker re-rating after its Miga Arc rival Stavely Minerals Ltd (ASX:SVY) launched on the ASX with a market cap of $16M.
Stavely IPO a sign of the times?
SVY has just one inferred porphyry deposit in the Miga Arc – an untapped copper and gold porphyry mine in Western Victoria – but that single asset has given it a market cap of $16M after it issued 80 million shares at $0.20 each.
However, NML has a current cap of $4M despite having more land, longer strike lengths, more confirmed mineral bodies and four porphyry drilling targets in the Miga Arc compared to SVY’s one.
NML is hoping the high level of investor and market support for Stavely’s IPO and Miga Arc project will boost its own market valuation and allow it to accelerate its drilling programme.
Stavely’s ASX launch is expected to be followed by a ramping up of its drilling programme in the Miga Arc with at least 3,800m of diamond drilling planned for targets close to NML’s holdings which could also influence a market re-rating for NML.
More gold and copper found at Eclipse project
NML recently completed an 11 hole reverse circulation drilling programme at its Eclipse porphyry prospect in the Miga Arc and encouraging results have been flowing in. NML is aiming to explore the mineralised area above what it believes to be a large gold and copper deposit.
Geoff McDermott, Managing Director of NML, says the latest drill results show it’s closing in on a porphyry. “We may have cracked the code on what is controlling the shallow mineralisation found to date at Eclipse,” he says. “The IP surveys have provided us with a potential pathway and a source for the copper and gold mineralisation intersected in our recent drilling. The target looks big.”
Farm-out for Miga Arc focus
To allow NML to focus on its Western Victoria Copper Project, the company has brought in a farm-out partner to manage a controlling stake in its Tandarra Gold Project north of Bendigo in Victoria.
Catalyst Metals Ltd (ASX: CYL) has signed a term sheet with NML giving it a 51% equity interest in Tandarra. CYL owns several neighbouring gold projects so the agreement will allow it to manage the entire 60km strike length of the North Bendigo goldfield.
NML says the deal puts Tandarra in safe hands while it devotes itself to finding copper in the Miga Arc.
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.
