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Explore "asx investors" with insightful episodes like "Mount Ridley Mines Limited (ASX:MRD) - The Mount Ridley REE Project - The Next Stage.", "Venture Minerals Limited (ASX: VMS) - Potential High Grade Clay Story.", "West Cobar Metals Limited (ASX: WC1) - The Salazar REE Project - High Grade & a JORC Resource.", "Venture Minerals Limited (ASX: VMS) - Building a Rare Earth Portfolio in Western Australia" and "Venture Minerals Limited (ASX: VMS) - The Age of Boron." from podcasts like ""Coffee with Samso", "Coffee with Samso", "Coffee with Samso", "Coffee with Samso" and "Coffee with Samso"" and more!

Episodes (7)

Mount Ridley Mines Limited (ASX:MRD) - The Mount Ridley REE Project - The Next Stage.

Episode 187 of Coffee with Samso is with Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX: MRD). Mount Ridley is now at the business end of the Rare Earth journey.

Mount Ridley Mines is now focusing on the flow chart of the REE business. This is the money end, can you make the processing part cash flow positive?

When I had my first Coffee with Samso with Guy Le Page, in July 2022 (Mount Ridley Mines Limited (ASX:MRD) - A Rare Earth Story.), it became evident that the company had a strong focus on optimising its flow chart. The company was confident in its ability to achieve the desired tonnage and grade, but its primary emphasis was on the final stage.

In my view, one of the major benefits for companies like Mount Ridley is their project's location in the Esperance region. Numerous discussions have highlighted the region as the ideal site for the government to establish a Rare Earth Hub.

Check out the conversation in this Coffee with Samso and, as I always encourage, DYOR.

Chapters

00:00 Start

00:20 Introduction

01:10 Updates on the Mia Project

02:45 Beneficiation Results

03:55 Leach Test Results

04:59 Is Mia the main focus of Mount Ridley?

06:01 Mia prospect air-core drilling

06:37 Discussion about the soft REE market

09:05 Q&A from the public

09:19 Is MRD still going to list on the Frankfurt Exchange?

09:46 What is MRD’s strategic roadmap beyond 2023?

10:59 How is MRD taking a position for success amongst Esperance peers?

11:59 Is using HCL costly? And what about government grants?

13:03 Has MRD determined the controls in the clay-hosted REE project?

15:24 Prediction of the path of the REE market as we move forward

17:01 What makes MRD stand out?

18:20 Discussion about the REE market

20:17 Conclusion

Samso's Conclusion

When investing in the Clay Rare Earth sector, it is crucial to consider the economic viability of the processing flow sheet, and, while the industry has yet to determine its profitability, this does not mean it won't become a viable option. However, it is important to acknowledge that the industry is still in its early stages, and there will be a steep learning curve filled with uncertainty.

The industry has successfully identified the process of leaching out the Rare Earth Elements (REE), but the economic outcome in terms of profitability remains uncertain. The REE sector, including both hard rock and "Clay/ionic/alluvial" types, has gained attention in investment circles due to recent geopolitical developments.

China's dominance in this sector is widely recognised and understood. The previous discussion on REE in the investment community was short-lived in 2010, as the market experienced rapid fluctuations. However, the current rise of the REE sector has shown more resilience, having been present for a couple of years, largely due to the new "cold war" with China.

Balancing the REE sector will require time, and investors in this sector must cultivate patience, akin to the patience required for fishing. It is frustrating to continually emphasize that mining projects are measured in terms of years to decades, while investors, particularly new ones, expect quick results within weeks or months.

Unfortunately, such quick results are unlikely to occur. Regarding Mount Ridley, they have a solid strategy, and recent results indicate a viable business. However, the investment community needs to learn to be patient and learn to "PARK" their money.

Coffee with Samso

enSeptember 18, 2023

asx

mrd

looking for ree in esperence

asxcompanies

mount ridley mines limited

Venture Minerals Limited (ASX: VMS) - Potential High Grade Clay Story.

Coffee with Samso Episode 183 is all the Brothers Rare Earth Discovery.

The discovery of a high grade clay Rare Earth project by Venture Minerals Limited (ASX:VMS) in the Golden Grove district needs to be noticed. The depth of intercept and the high grade is up amongst the top tier projects in Western Australia.

Venture's Maiden Drilling program confirms High Grade clay hosted REE Discovery at the Brothers Project

The REE Journey begins for Venture Minerals Limited ?

In April 2023, the Venture Minerals announced the introduction of the Iron Duke REE project into the Brothers project on a Rooster Talk - Venture Minerals Limited (ASX: VMS) - Building a Rare Earth Portfolio in Western Australia. The REE story for the company was a slow build up over the last 18 months.

Venture set to commence drilling at the Iron Duke High Grade REE Project

Chapters:

00:00 Start

00:20 Introduction

00:57 High Grade clay hosted REE discovery at the Brothers Project

02:00 Reason for high grade

07:01 Direction of the Big Brothers Project

09:46 Is the Big Brothers Project the focus for VMS?

11:02 Discussion on metallurgy

11:57 How should investors look at VMS?

15:38 News flow

18:17 Why VMS?

21:13 Conclusion

Rare Earth Market Status

One of the first indicator of the fortunes of the Rare Earth exploration sector is the rise or fall of the REE market pricing. As we all concurrently, the market is looking at a bearish price sentiment which has created anxiety for many investors. One cannot argue that the bear is out of hibernation.

What many the supporters of the bear is forgetting is that this market has been created out of a geopolitical situation. The current changing focus of world politics, in my opinion has made metals such as REE attractive. The future needs of the REE components are going to add to the demand in the market.

AS all investors know, the long term is where money is made. This is a well know fact and again, investors forget that the mining game is all about the long term. The mining sector is measure in decades and not months nor years. There are mines that have happened in years, such as Nova Bollinger (Ni) and DeGrussa (Copper), but they are few and very far in between.

What makes Venture Minerals a good bet?

What Venture Minerals does best is to create diversified projects which continue to create value when it seems insurmountable to find value. I have said this many times about when I first had a Coffee with Samso with Andrew Radonjic and finding the value in the numerous projects.

Why and how can do continue to do this? This is where experienced management comes to the front of the game. The value in the Brothers project is prime example. How did they come up with a project that looked liked an outlier but with drilling, it is now possibly standing out to be a contender in the Rare Earth race.

The Decarbonisation Problem.

The world is intent on achieving a state where there is clean energy use but the journey is going to be long and hard. The whole concept of achieving that level is not being helped with the persistent sectors of the population believing that restricting mining is going to be the solution.

There is no going back to the old ways of "Non-Decarbonisation" thinking. This is something that is established. I had a coffee with someone in South Australia and he was proudly telling me about the way the state has gone to renewable energy.

The process of creating a world of less "dirty energy" is now no longer news. This is an expected path.

Samso's Conclusion

Andrew Radonjic has pulled another rabbit out of his hat. The Brothers project is one that I certainly did think had a great chance for some glory. In our last Coffee with Samso, we discussed that the historical drilling would make this project very interesting.

Venture to JV into Neighbouring REE project hosting drill intersections up to 49 metres @ 1,313 ppm TREO

The two drill holes that was announced was into bedrock which would have suggested that there could be more to come. The recent release has made that thought come true.

Does this make the Brothers project a stand out? I dont think one can say that now as there is still the issue of the metallurgical question. What I have learnt is that they will come back and show that it will leach. How much acid.,...etc. will be the main topic of conversation.

Is this something that will carry Venture Minerals back to its glory days when it was a darling for retail investors, I think not immediately. I like the numbers that have come up but I think the market is saturated with a lot of REE stories.

The markets needs to understand what kind of project is going to make the grade and what will not. The initial Ionic vs. Non-Ionic debate is now a thing of the past as we have discussed many times, there is more to the discussion than the Acid content.

What I know now is that there are several projects that have something different that I believe make them unique. For Venture Minerals, it is their location (proximity to the new Lynas story), the grade and the depth of mineralisation. They are not in the typical REE areas and there are no potential land issues.

All these factors, in my opinion, makes Venture different.

enAugust 13, 2023

ree project in western australia

venture mienrals limited

West Cobar Metals Limited (ASX: WC1) - The Salazar REE Project - High Grade & a JORC Resource.

Coffee with Samso Episode 178 is with Kevin Das, Executive Director of West Cobar Metals Limited (ASX: WC1)

The REE story is maturing for investors as the complexity of what is a good REE project is has moved several levels. What is still lagging is still a sound grounding on what is exactly an economic REE. There has been several stories on Samso but I have to admit that the jury is still a long away from a decision.

When Kevin Das, the Executive Director, of West Cobar Metals approached me to engage a Coffee with Samso, we spoke deeply on what make West Cobar different to other REE stories. The first major difference is the existence of a JORC resource for the Salazar REE project. This resource does give WC1 a first mover advantage but the competition is fast catching up.

The details of the resource may ultimately be the difference but we will need to wait for some critical steps such as the metallurgical results. The other factor which would drive this story far is that the deposit sits on top of an ultramafic base. What this means is unknown for now. There is evidence of other deposits that the enrichment of the REE is related to the base.

Salazar is the only REE deposit that I know of that is not on a granitic base. To add to the story, there is a HPA story here. There is a aluminium inferred resource on part of the Salazar resource. This may become a credit to the mining process and hence benefit the overall feasibility of the deposit.

The West Cobar Story

West Cobar is a minerals exploration and development company focused on rare earths and battery minerals within Australia and the US.

The Salazar REE Project

The Salazar Rare Earths Clay Project is located on non-agricultural undeveloped state land approximately 120km north-east of the township and deep-water port of Esperance in Western Australia. The Newmont deposit, located on the easternmost tenement at Salazar, contains an estimated JORC Inferred Mineral Resource of 43.5Mt at 1192ppm TREO + Y2O3 (500ppm cut-off). The O’Connor prospect to the west of Newmont has potential to host further significant high-grade rare earths mineralization.

Figure 1: Location of the Salazar Project. (Source West Cobar Metals Limited)

Nevada Lithium Project

The Montezuma Well and Big Smoky Valley claims are considered prospective for large-scale sedimentary-hosted lithium claystone deposits. The claims are located within the world class mining-friendly jurisdiction of the Nevada lithium district and host similar geology to known major lithium deposits in the region – including American Lithium (TLC deposit), American Battery Technology Company (Tonopah Flats deposit), Ioneer (Rhyolite Ridge deposit) and Century Lithium (Clayton Valley deposit).

Figure 2: Location of the Nevada Lithium projects. (Source West Cobar Metals Limited)

Hermit Hill Lithium Project

The Hermit Hill project area is located in the Litchfield Province in the Northern Territory, roughly 100km south-southwest of Core Lithium’s Finniss Lithium Project and Lithium Plus Minerals’ Lei lithium prospect, and 30km west of Ragusa Minerals’ Tank Hill lithium discovery. The project is prospective for pegmatite-hosted lithium mineralisation.

Figure 3: Location of the Hermit Hill project. (Source West Cobar Metals Limited)

The West Cobar Difference

Currently, on the Australian Stock Exchange (ASX), there seem to be an overflow of REE stories. Every week there are companies announcing the presence of REE and one could be forgiven to felling a sense of boredom. When the REE story emerge nearly 2 years ago, there was excitement and a bullish feel to this sector. However, as investors start to get a flood of news, this excitement starts to turn into confusion.

What I can say about the Salazar REE deposit is that it holds a few point of difference. It is still a clay hosted deposit as opposed to the ionic versions but the high grade nature of the resource - 43.5Mt @ 1192 TREO, makes this one of the deposits to take note.

On top of the REE resource, there is a HPA n inferred JORC Resource of 28.3 Mt at 23.4% Al2O3 (at 10% cut off). How this adds to the economics of the minnig of the Salazar REE story is yet to be played out. The positive would be that it adds credit to the process and lowers the overall feasibility and the downside is that it is mined and put aside. As the HPA content is part of the overall Salazar deposit means that there is no extra cost in mining it or isolating it.

The clay mineralisation at Newmont has a relatively high magnet rare earth oxide content comprising about 25% of the basket. In particular the Newmont deposit is relatively high in

high value, heavy magnet REE content, comprising 3% dysprosium and 0.5% terbium content.

Praseodymium makes up 4.2% and neodymium 16.8% of TREO (See Figure 4).

Figure 4: REE distribution within the Salazar deposit. (Source: West Cobar Metals Limited).

The other factor which may eventually affect the leachability of the deposit may lie in the fact that this deposit is overlaying a ultramafic (Amphibolite) basement. Like many of the REE story, the outright understanding of the flow chart of processing is still work in progress. This ultramafic basement is the key difference as all the other known Australian clay hosted deposit sits over granitic source.

Samso's Conclusion

These days, there is a large volume of REE deposits being marketed. We know that there is a Clay hosted and a Ionic hosted REE deposit. The difference is in the ability to easily extract the REE in the downstream process. I have spoken to people who tell me that the difference is not a physical or grade factor, but it in the test of whether they are easily leached out.

The host of ionic deposits are not restricted to the Chinese version as they are also granitic base. I know of an Australian ionic style being hosted over a limestone which is totally different. I am told that research has shown that the enrichment may be helped by the limestone interface.

If this is true, will the fact that the West Cobar deposit being overlaying an ultramafic source lead to a different leaching style? Management seems optimistic but lets wait for the facts.

If we want to look at which of the REE stories are going to have the legs to be at the mining and processing stage, then the odd balls like the Salazar REE project should be on our watch screens. Remember that there is also the potential for the mining of the HPA which is again something that is not present in all the other stories presently being sold in the ASX.

Chapters:

00:00 Start

00:20 Introduction

01:29 About Kevin Das

02:01 Kevin’s experience at Northern Minerals

03:44 All about the Salazar Rare Earth Project

04:21 The unique aspect of the Newmont deposit

05:37 The drill results at Salazar

06:29 The resource in Esperance

07:09 Understanding the drill results

10:34 West Cobar Metals being a first mover

12:14 The Alumina resource in Newmont

16:31 Projects in the US

17:21 Discussion about the journey of rare earths

21:52 The rare earths capital market

23:49 News flow

26:54 Challenges faced by West Cobar Metals

29:01 Why West Cobar Metals?

30:02 Conclusion

Coffee with Samso

enJune 04, 2023

asx

hpa

ree project in western australia

salazar ree project

clay lithium

Venture Minerals Limited (ASX: VMS) - Building a Rare Earth Portfolio in Western Australia

Rooster Talk 72 is all about Venture Minerals building a Rare Earth project portfolio.

It is no surprise that Venture Minerals Limited (ASX:VMS) is now adding Rare Earths to the portfolio. The creation of a Decarbonisation Mineral Exploration Portfolio makes complete sense.

Venture expands REE strategy with new priority targets in Western Australia

The Rare Earth Bandwagon?

The phrase "Rare Earths are Not Very Rare" is now way too over used. The REE scene has kind of matured in an accelerated way. One of the best Samso conversations is with Brett Hazelden, the Managing Director of OD6 Metals Limited.

Check out the first Coffee with Samso that Brett did with Samso. It is a great start to understanding what it takes to develop a Rare Earth project.

OD6 Metals Limited (ASX: OD6) - The Rare Earth Elements Story.

The New Projects

As Andrew mentioned, Venture Minerals have been looking at Rare Earth projects for a while now. Their first mention was the discovery of REE within the Mount Lindsay project. This was first released on 20th September 2022. All the news releases are listed below.

Venture unearths REE mineralisation immediately adjacent to Tin Zones at Mount Lindsay

Venture discovers 12.5% REE mineralisation at Golden Grove North

Venture commences drilling at new, high priority REE-Tin target at Mount Lindsay

Venture expands REE strategy with new priority targets in Western Australia

Another Bow to War Chest.

To me, this is part of the reasons why I like Venture. Dont get me wrong, I am not saying that Venture is travelling well now. The market sentiment for the company has not been kind. To add more issues, the general equity market is also poor. The share price is an indication of the company's position with the market.

I see Venture creating value with the introduction of the Rare Earth story. The market is running hot on Rare Earths. The long term narrative for the permanent magnet story is strong. It is not going to happen in 5 years but if the geopolitical situation keeps going, then this is going to be a major story.

Samso's Conclusion

History tells us that there is never certainty. History also tells us that when bullies get together, it never ends well. China is now a bona fide player in world politics and there will be a shifting of participants on the world stage. The US and the West will begin to react or have reacted and this will lead to a shift of how natural resources are sourced.

We all know that for the world economy to function, there has to be a balanced sharing of wealth. In this case, the wealth is where you source minerals. We are already seeing changes in geopolitical commentary of who should be and should not be dominating resources.

Hence, the path forward will be positive for resource nations like Australia. Venture, like all the other companies will reap the rewards of the changing geopolitical game. The introduction of REE into the portfolio will do not harm. What they will find eventually is the question but Nothing Ventured, Nothing Gained.

Chapters:

00:00 Start

00:20 Introduction

00:52 The REE path.

02:34 The New REE projects.

06:52 Can EM help define targets at Bandy and Brothers project?

09:10 Clay REE vs. Hard Rock REE - Discussion

11:25 How to manage the large Venture portfolio?

17:09 The Path Towards Decarbonisation.

23:00 The importance of being Polymetallic

27:00 Market narrative is All about Market Demand.

28:19 Demand for Commodities are Known to be driven by World Current Affairs.

33:10 Conclusion

enApril 25, 2023

vmsvolcanicmassivesulphides

Venture Minerals Limited (ASX: VMS) - The Age of Boron.

Coffee with Samso Episode 111 is all about Boron.

The recent release by Venture Minerals Limited (ASX:VMS) is adding more light to the Mount Lindsay project. The realisation that more tin could be realised via the association of Boron now makes Mount Lindsay a solid project.

Extensive Tin-Boron Rich Zones Identified at Mount Lindsay

Who is Venture Minerals Limited (ASX: VMS)?

In my very first Coffee with Samso with Andrew Radonjic, way back in October 2020, I had coined the company a Targeted Diversified Mineral Explorer. The basis of that title was because they have very promising targets. I know many people will say that is a long bow to draw but from an exploration point of view, I stand firm on my observation.

A Targeted Diversified Mineral Explorer - Venture Minerals Limited (ASX: VMS) - Episode 49

Market Status

Currently, like many of the market participant, the share price has taken a battering. The journey has been one where at its peak of about AUD$0.16 in mid 2021, it is now pretty much at it low (Figure 1). The share price has moved since the latest release which appears to be giving the market some joy.

Figure 1: The share price chart for Venture Minerals Limited (ASX: VMS) over the last 3 years. (Source: Commsec)

What I feel is that the market is generally not a direct reflection on the perceived valuation of the company. In the exploration sector, this is more relevant as the potentials are never calculatable.

The current market capitalisation is around AUD33M. Some pundits may say that this is high for an explorer, but one have to understand that Venture has a iron ore resource that is at mining stage and a Tin an Tungsten resource that is at Feasibility Study stage.

Why does Samso like Venture Minerals Limited? - Mount Lindsay Mineral Province.

There are many companies that I currently in the market, but not all of them is reflecting my enthusiasm. As I have said many time, as an exploration geologist, I am always looking at the potential and with over 30 years of experience, working and learning about the industry, I have seen and heard many stories.

Over the years, I have learnt is to identify projects that could have the best possible potential to bear fruits. What I see in Venture are projects that have these potentials. Look at the Thor project. I like the concept and the potential from the first Coffee with Samso. The latest on that project is the Joint Venture partner has now target two new priority targets.

Chalice Mining identifies two new priority Ni-Cu-PGE target

The Mount Lindsay project is one that needs no introduction. Venture is currently working on a Feasibility study for Mount Lindsay. This will take time and as they develop new concepts. What is being now showcased is the potential endowment of the Province. When you look at the latest summarised geological plan (Figure 2), you will see why I call this the Mount Lindsay Mineral Province.

Figure 2: Mount Lindsay Project: Geology Map showing High Grade Tin-Tungsten Targets and Tin-Boron Skarns

For those readers that are not well versed with geology, what I want to represent with Figure 2 is that the area/province that I am referring to is well mineralised. There is a suite of metals that are being found. For this to happen, you need a mineral system that is sufficiently powerful and endowed to be present.

In my time showcasing Venture Minerals, I dont think that has been a focus for the company. I will not be surprised when that is a topic of conversation.

The Boron Story - Samso is Excited.

The Boron story is going to be a big asset for Venture. For those taht are new to the Boron game, you will quickly find that Venture is in the big leagues. Granted that there is still a lot of questions, such as, is there an economic volume, is there an economic recoverable process...etc.

For Samso, the input credit and the potential ability to recover more tin in the process is the game changer. When you look at the major mining projects, it is very often the input m credits of other products in the mine that makes the profitability of the mine. If you look at Olympic Dam, by far the biggest single mine in the world, it is the myriad of other metals that have extended the life of the mine.

Samso's Conclusion

Venture Minerals have been through a wild ride over the two years. There is no denying that there are shareholders who are disappointed with the journey lately but there are also shareholders that have bought at the lows and exited with a handsome loot.

The introduction of the Boron story is exciting. This could be the game changer for Venture. This will create a new dimension for the company as when you look at the market for Boron, it will be an eye opener. If the oncoming data about what Venture have in terms of the Boron is positive, we will be in for another ride.

Whichever shareholder you are, there is also some realities that make VMS a well balanced investment. When you look at the portfolio of projects, they are placed in every stage of the exploration game. You have early stage greenfield exploration such as Kulin and Golden Grove North. Thor which is in a joint venture with Chalice Mining is being explored but is free carried as Chalice is earning into the project.

Mt Lindsay and the Riley iron ore project is the next step up. Mount Lindsay has greenfield to "development". Riley is at mining stage. Riley is waiting for the right market timing and can be turned on when the time arrives.

So my thoughts on a company like this is, its hedged at all ends. There are not too many companies in the sector with this kind of portfolio. I have spoken to many and I will be surprised that there is more than a handful with the well spread of projects like Venture Minerals.

When you have been in the sector for a long time, you appreciate these kind of odds. For this reason, I think that at at market cap of 40M, Venture is definitely worth doing some lengthy research.

Andrew Radonjic has been in this game for a long time and when you look at the price chart in Figure 1, the risk of investing in the company is not ambiguous. One may say you can go to the casino and have the same odds, but as all investors in this sector, we beg to differ. Research and understanding your risk management is the key.

Understand the geology, understand the upside and downside and understand your own risk capability. For these reasons, I strongly recommend reaching out to Andrew and getting him to give you the low down on the company.

Chapters:

00:00 Start

00:20 Introduction

01:20 About Venture Minerals and boron

04:14 Tin-rich borates in Mount Lindsay

12:02 Any potential metallurgical issues?

14:57 How much can be recovered from the cassiterite?

19:56 Uses of boron

23:18 Market shifts?

28:57 News flow

30:22 Why VMS?

31:56 Conclusion

enApril 21, 2023

vmsvolcanicmassivesulphides

Mount Ridley Mines Limited (ASX:MRD) - A Consolidating Rare Earth Project in Western Australia.

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The Esperance region is fast developing into a Rare Earth Region and Episode 69 is with Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX: MRD).

The Mount Ridley Story is all about clay hosted Rare Earth Elements (REE) deposits. The biggest question for all the clay REE projects relates to the timing to the unlocking of the metallurgical conundrum. It is not a big secret that there is a hurdle for these companies but is it a matter of time or market, that is the investors food for thought.

The Mount Ridely Story.

The clay hosted REE deposits that Mount Ridley has is located within a Fraser Range sub-basin, which is just 50km north of Esperance. Interestingly, it was initially acquired for its nickel and copper sulphides potential.

Figure 1: The Mount Ridley REE Project comprises 9 granted exploration licences in south-west Western Australia with an area of approximately 3,400 square kilometers. (Source: MRD Annoucnement, 14th February 2023).

Mount Ridley is one of many companies that are applying their trade in the Esperance region. hence, the MRD story is with good company.

Figure 2: The Mount Ridley REE Project is well positioned with similar projects which have been proven to be mineralised and have known resources. (Source: MRD Presentation, December 2022).

The Company also holds approximately 18% of the Weld Ranges in the mid-west of Western Australia. Areas of the tenements are prospective iron and gold.

Chapters

00:00 Start

00:20 Introduction

00:52 Update on the Mount Ridley Story

02:05 Mount Ridley Tenement Holdings.

02:42 Any update on the REE sector?

03:25 Is the recent Molybdenum price surge a sign of things to come for commodities?

04:13 Are we looking at a change in sensitivities with supply crunch and price volatility?

05:06 Apparent pricing volatility.

06:11 Upcoming news for Mount Ridley.

07:17 Why buy Mount Ridley?

08:41 Conclusion

The Sensitivity of Supply Deficit and Price Volatility.

In this episode of Rooster Talk, one of the topics that was discussed was the current observation that the supply crunch. This is an interesting topic as the supply crunch of metals have been talked about for nearly 8 years. I remember writing about this topic in 2019 (See below)and the crunch sort of never came.

Samso Insights:

Zinc Market- What happened to the price surge? - January 19, 2019

Is the Commodity Market just getting used to a slowing Chinese Panda ? - June 10, 2019

Is the Commodities Shortage a Mirage? - June 18, 2019

Shortages in Metals - March 14, 2020

The Mystical Journey of the Commodity Price - Will it Continue? - June 18, 2021

One of the most compelling crunch that never eventuate and still has not has been the zinc story. Nickel and Copper kind of came of late but that is still a wait and see game. The point is that in the previous narratives, the hype never eventuate.

The last six months have shown that this may finally be happening or is it? There was the nickel push and then there was the copper run recently. Uranium may be starting to lead or may lead be showing some sings of leading the pack. As guy Le page mentions in the Rooster Talk, the surge in buying by the Sprott Uranium Fund may have created a catalyst for commentators to feed on.

Why are we talking about this topic ? Well, the price of Molybdenum ran spectacularly in January 2023 and observers comment that this is due to China restarting production and closure of mines in Peru.

Figure 3: The price chart of Molybdenum. (Source: Trading Economics, 2023).

Hence, if this is the case a nearly 95% jump in price would make any punter wake up. A surge like that because of a mine closure of increasing production in China? On the REE front, according to Strategic Metals Invest (www.strategicmetalsinvest.com), since January 2020, Dysprosium has increased by up to 78.25%, Neodymium 226% and Praseodymium 169.20%

Samso's Conclusion

The clay hosted REE journey is one that is intriguing and poses a lot of questions for potential investors. When will the unlocking of the Holy Grail happen? Will there be a market when that happens? Will the technology using these metals still be around?

Well, in my humble opinion, having lived many decades in the wonderful world of ours, I think this is our time in seeing a pivoting of industries. The world of electrification is here to stay and the world of efficiency in creating cleaner energy has been set in concrete.

Although Rare Earths are not rare, the concentration of the resources and the application to downstream products are rare. The shift of dependence on one "nation" to produce products seems to be taking a back seat. The Esperance region is ideal for a new industry to emerge. It has all the important logistics like a Port and a low density of population. It has the space to grow in size.

The good thing for companies like MRD is that the resource is almost a certainty. They have many players who, as a whole, will be able to play with the big boys. The unlocking of the metallurgical question will be exciting times for all involved. What investors need is to be patient but this seems to be the biggest Archilles Heal.

enFebruary 21, 2023

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The Start of a Compelling PGE Story - Galileo Mining Limited (ASX: GAL) | Coffee With Samso Ep. 152

Coffee with Samso Episode 152 with Brad Underwood, Executive Chair and Managing Director of Galileo Mining Limited (ASX: GAL) is sharing with us about the Castillo PGE/Palladium discovery..

The discovery of a PGE system has been made in Norseman, Western Australia. Now it si all about establishing a resource and create a path to production.

This episode is a discussion on the the potential, the understanding of what Castillo can be and the path to production. The project is blessed with the best access to highway, railway, gas pipeline and access to a deep port in Esperance.

As Galileo Mining moves into a new phase of drilling, I ask Brad Underwood, how do investor understand the PGE story? I ask him what can investors look for to better understand a good result and how to see value creation s more drill results materialize.

Galileo has been creating so much value for shareholders lately with the discovery so I asked Brad what he thinks of the mineral resource industry. What is his thoughts about the future market sentiment. This sentiment will also dictate when his potential production path follows.

This is one of the best episodes with Brad Underwood so I urge readers to get a cup of coffee , tea or hot chocolate and settle in for 30 minutes of the Galileo story.

Chapters:

00:00 Start

00:20 Introduction

01:28 Updates on the Callisto discovery

02:10 Understanding the Callisto Project

05:28 Interpreting the cross sections?

07:00 What is the next drill program testing?

08:48 Is this the biggest drill program in Galileo?

10:21 Lessons learnt from Exploration Results

12:12 PGE Story - Rhodium

14:15 PGE Story - Palladium

15:28 How Do Investors Understand the PGE Story?

17:25 The Fraser Range Project

18:10 Investors - Patience in PGE projects

20:25 Plans on other projects

21:46 Callisto - Production and cashflow timeline

23:36 Will the Mineral Resources Boom Continue?

26:30 News flow summary

28:16 Conclusions

enAugust 18, 2022

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Episodes (7)

Mount Ridley Mines Limited (ASX:MRD) - The Mount Ridley REE Project - The Next Stage.

Venture Minerals Limited (ASX: VMS) - Potential High Grade Clay Story.

West Cobar Metals Limited (ASX: WC1) - The Salazar REE Project - High Grade & a JORC Resource.

Venture Minerals Limited (ASX: VMS) - Building a Rare Earth Portfolio in Western Australia

Venture Minerals Limited (ASX: VMS) - The Age of Boron.

Mount Ridley Mines Limited (ASX:MRD) - A Consolidating Rare Earth Project in Western Australia.

The Start of a Compelling PGE Story - Galileo Mining Limited (ASX: GAL) | Coffee With Samso Ep. 152