TG1 picks up option on an NT copper project

Published 10-DEC-2024 12:22 P.M.

2 min read

Shares Held: 7,360,000

Options Held: 1,650,594

Our $5.4M capped micro cap Investment TechGen Metals (ASX: TG1) just picked up an option on a copper project in the Northern Territory.

Here is our take on the deal:

1. The project is genuine greenfield exploration -

The project covers ~3,950km^2 in a part of the NT that has never been explored before.

The only drilling here was a water borehole back in the early 2000’s (drilling literally for water), which had traces of copper in it.

Its a very high risk/high reward pick up (TG1 could find nothing) BUT we dont mind this from TG1 given where the company’s market cap is right now.

Fun fact - WA1 Resources discovery in the West Arunta was once a “conceptual target” too… we all know what happened to WA1 when it made its discovery.

(WA1 Resources made a giant niobium/rare earths discovery and went from a share price of ~13c to $23.20 in less than two years, a ~17,700% gain)

2. Cheap entry into a new region -

TG1 is paying just $50k upfront for the option to acquire this project. TG1 dont need to pay anything else to acquire the project…

What’s next for TG1?

For now, our main focus with TG1 is on the copper assets the company is working up in WA.

🔄 Results of geophysics at Blue Devil project

IF TG1 is able to put out any interesting drill targets we may see investor interest come back into TG1.

Especially considering the huge investor demand (and lack of supply) of high risk/high reward copper explorers on the ASX.

We recently followed one story (Renegade Exploration) which rallied pretty strongly going into its own copper focused drill program…

The past performance is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products, is subject to market forces and unpredictable events that may adversely affect future performance.

Whilst it was going after a very different type of copper drill target, we think something similar could happen for TG1 (as long as the geophysics delivers strong targets)...