# EFE - Eastern Resources



## System (8 August 2010)

Eastern Iron Limited (EFE) was formed in July 2007 by PlatSearch to explore for bulk tonnage iron ore in infrastructure rich, eastern Australia. Eastern Iron has grouped the 15 licences into two projects, the Cobar and Main Line Projects. Both areas are highly prospective for Channel Iron Deposits.

http://www.easterniron.com.au


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## springhill (20 July 2012)

*NOWA NOWA DRILLING PROGRAM COMPLETED*

 A diamond drilling program consisting of four holes totalling 477.6m at the Five and Seven Mile iron ore deposits has been completed.

 Assay results from a single hole at Seven Mile returned 71.4m from surface at 46.3% Fe, 31.3% SiO2, 2.6% Al2O3, less than 0.01% P and 0.03% S

 Drill core samples from Five Mile and Seven Mile have been submitted for beneficiation testwork at AMMTEC laboratories in WA. Further assay results from drillholes at Five Mile are pending.

 Engenium have commenced the scoping study for the Nowa Nowa Project.

http://www.asx.com.au/asxpdf/20120719/pdf/427h8jr29ndnzv.pdf


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## greggles (2 January 2018)

EFE has seen a bit of movement over the last few months. Up from 1c to a high of 2.4c. At 1.7c today. The company has just recently acquired a high grade cobalt sulphide project in Poland and is currently conducting field work at its Nowa Nowa copper project in Victoria.

Tiny market cap of around $5 million.


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## greggles (20 April 2021)

Eastern Iron moving its Nowa Nowa Iron Project forward by updating the DFS (September 2014) and progressing the permitting and approvals process simultaneously.

I found this part of the announcement  particularly interesting:



> The Company has received enquiries from a number of parties that have expressed interest in potential investment and product off-take. The Company will continue to engage with interested parties over the coming months as refreshed information flows from the updated DFS.




Market cap only around $7 million.


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## greggles (28 June 2021)

EFE starting to show signs of life again over the last couple of months with spurts of higher volume and an increasing share price.

A recent CR raised around $1 million through the issue of 134,046,386 FPO shares at 0.8c per share. The company says this will fully fund the Nowa Nowa Project though to a final investment decision. Management is still actively seeking offtake agreements with end-users.

The company now has around $2 million in cash at bank.


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## greggles (13 September 2021)

I somehow missed this announcement from last week which sent the EFE share price soaring to as high as 4.1c. It is currently trading at 3.3c a week after the announcement.

EFE market cap is still only around $20 million. The Trigg Hill tenements are due to be granted in the December quarter and there is the updated DFS from the Nowa Noa Iron Ore Project due soon.

Lots going on here.


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## Dona Ferentes (18 September 2021)

greggles said:


> I somehow missed this announcement from last week which sent the EFE share price soaring to as high as 4.1c. It is currently trading at 3.3c a week after the announcement.
> 
> EFE market cap is still only around $20 million. The Trigg Hill tenements are due to be granted in the December quarter and there is the updated DFS from the Nowa Noa Iron Ore Project due soon.



and now 4.3c

Chinese lithium giant Yahua is making a $1.05m investment in the company. A further $2.52m will be raised from sophisticated and professional investors, EFE says.


> _"We welcome Yahua as a cornerstone investor of Eastern Iron and are delighted with their financial commitment towards progressing a strategic partnership to acquire and develop Australian lithium projects_," chairman Eddie King says


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## System (22 December 2021)

On December 22nd, 2021, Eastern Iron Limited changed its name to Eastern Resources Limited.


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## frugal.rock (23 March 2022)

Worth a look.
Probably heading fo 10c.
I'd post a chart except...


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## frugal.rock (20 April 2022)

From the 11th April announcement.

DUE DILIGENCE SATISFIED FOR TAYLOR LOOKOUT
LITHIUM-TANTALUM PROJECT 

Highlights

 Due diligence satisfied for the Taylor Lookout Lithium-Tantalum project.

 Eastern Resources now has two prospective lithium-tantalum projects in strategic locations in 
WA. 

 A 12-month work program has been planned to expedite exploration.

Eastern Resources Limited (“Eastern Resources” or the “Company”) is pleased to announce that it has positively completed its due diligence on the Taylor Lookout Lithium-Tantalum Project (“Project”).
All transaction conditions precedent of the HOA announced on 28 February 2022 have now been satisfied/waived by Legacy Iron Ltd and the Company.

The Company has recently undertaken due diligence on the Project and was pleased to identify numerous outcropping pegmatites during the site visit.

_SP hasn't reacted to the above as expected. Probably a case of price subsidence until they get busy on the search._


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## frugal.rock (9 July 2022)

frugal.rock said:


> _SP hasn't reacted to the above as expected. Probably a case of price subsidence until they get busy on the search._



Hit a high on Friday of $0.034 or 30% up.
Settled lower, as per chart below.

ASX Announcement 8/7/22

"OUTSTANDING LITHIUM ASSAYS AT TRIGG HILL PROJECT 

Highlights 
• Rock-chip assays confirm extensive lithium-caesium-tantalum (LCT) pegmatites. 

• Results up to 2.28% Li2O, 1.23% Rb2O, 1,552ppm Cs2O, 514ppm Ta2O5 and 
2,921ppm SnO2 from the 
Curlew East pegmatite swarm. 

• One pegmatite chip rock sample returned 10.3% copper."


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## frugal.rock (10 August 2022)

Slowly does it.


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## frugal.rock (11 August 2022)

Possibly still getting started, again
Another rise  in vol and SP today... 🧐


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## frugal.rock (4 October 2022)

ASX Announcement
4th October, 2022

THICK PEGMATITES INTERCEPTED AT TRIGG HILL PROJECT

Highlights

 Maiden drill program completed at Trigg Hill Project.
 A total of 32 holes drilled for 1,972m, of which 30 holes intercepted pegmatites.
 Significant thickness of near surface pegmatites identified in multiple holes, up  to 65m width from surface.

Eastern Resources Limited (“Eastern Resources” or the “Company”) is pleased to announce the maiden reverse circulation (RC) drilling program at the Trigg Hill Project is complete.

The Company has completed 32 generally shallow wide spaced RC holes for 1,972 metres at East Curlew and Trigg Hill prospects and has intersected pegmatites in 30 holes of the 32 holes drilled.

Multiple thick downhole intervals have been intersected, including:
 ETRC001: 3 pegmatite intervals totalling 29m from 60m hole including 17m from surface;
 ETRC003: 4 pegmatite intervals totalling 22m from 60m hole including 8m from 17m;
 ETRC006: 7 pegmatite intervals totalling 88m from 128m hole including 39m from 51m;
 ETRC007: 3 pegmatite intervals totalling 43m from 60m hole including 21m from surface;
 ETRC008: 2 pegmatite intervals totalling 43m in 63m hole including 37m from surface;
 ETRC009: single pegmatite interval of 65m from surface in 68m hole;
 ETRC010: 3 pegmatite intervals totalling 57m in 64m hole including 43m from 20m;
 ETRC011: 5 pegmatite intervals totalling 58m in 86m hole including 30m from 55m;
 ECRC009: 3 pegmatite intervals totalling 19m in 66m hole including 13m from 49m; and
 ECRC020: 3 pegmatite intervals totalling 19m in 84m hole including 9m from 46m.

Held.
NB: chart below only shows ASX volumes. Total volume traded today both ASX and Chi-X was a tad over 277 million...


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## frugal.rock (13 October 2022)

ASX Announcement
13th October, 2022

PEGMATITES IDENTIFIED AT YALGOO WEST PROJECT 

Highlights 

 Numerous pegmatite outcrops identified at Yalgoo West Project. 

 Targets to be field-checked, mapped and sampled. 

 Sampling and mapping work planned 

Eastern Resources Limited (“Eastern Resources” or the “Company”) is pleased to announce that it has identified localities containing pegmatites at its recent granted Yalgoo West tenements (“Tenements”) in the highly prospective Yalgoo lithium province WA at the recent site visit.

*Numerous pegmatite outcrops identified.*

The Company conducted a site visit to recently granted Tenements of the Yalgoo West Project. As a result of this maiden site visit, multiple pegmatite outcrops have been identified within the Tenements. 
The zone observed contains prospective outcropping pegmatites covering an irregular area of about 1.2km x 600m, which occurs within an area of sub to outcropping greenstone. 

The occurrence of large pegmatites and clusters of pegmatites is encouraging. 

The lithium prospectivity of this region is interpreted to be associated with the granite-greenstone terranes with linear,  
arcuate and synformal greenstone lying between large domal masses of granite and gneiss. 

Field mapping and surface geochemistry is planned to assess the Tenements for pegmatite-hosted Lithium-Caesium-Tantalum (LCT) mineralization.

_Ok, great, but when?_


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## Ibza (28 October 2022)

I picked this for the November comp. The chart looks prime to continue the uptrend. It has formed a leading diagonal pattern and the following uptrend could be steeper. The share price may also exceed the previous high of 9.7, maybe not within the month, but eventually.


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## Ibza (28 November 2022)

Tipped this for the December comp too. It's because the mentioned setup has not fully eventuated yet.

The uptrend has started and waves 1 to 2 are complete. Subwaves 1&2 of wave 3 also seem to have completed. Subwave 2 has retraced a bit over the 50% line and looks ready to start moving up. It could be a Santa run.


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