Next Investors logo grey

Chalice’s neighbour set to start drilling


Published 31-MAY-2021 14:42 P.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

Mandrake Resources Limited (ASX:MAN) has received all permits and access required to commence its drilling program at the promising Newleyine PGE-nickel-copper prospect in Western Australia.

Department of Mines, Industry Regulation and Safety (DMIRS) has approved the Programme of Work (PoW) application for Newleyine relating to the forthcoming diamond drilling programme.

A drill contractor has been secured with drilling now scheduled to commence on 14 June 2021.

Mandrake’s ground sits just 30km from Chalice Mining’s $3 billion dollar Julimar nickel-copper-PGE discovery.

You don’t have to be a magician to estimate what is likely to happen with Mandrake’s share price if it strikes Julimar type mineralisation in upcoming drilling.

Investors are already showing confidence in the stock with its shares up 200% since management announced that it had secured Newleyine land access.

41 - MAN.PNG

When news broke today that drilling was about to commence the company’s shares surged more than 25%.

Interestingly, another player in that area in Caspin Resources has spiked 230% since it released drilling results last week.

As indicated above, directly east of the Julimar and to the north of Newleyine lies Mandrake’s Jimperding Project.

Management has completed comprehensive geological mapping, sampling and portable XRF works across the entire project with particular emphasis on anomalies identified by the recently conducted heli-VTEM survey, making it potentially a source of further positive news for the group.

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.