PNM - Pacific Nickel Mines

[Tyler Durden]

64% jump on Friday. I think there'll be a bit of profit taking on Monday, but might want to keep an eye on this one.

 

[Tyler Durden]

Yep, got it. Fell 21.74% today.

If only I knew how to short.

 

[springhill]

Completely wrong capital structure for me, but those surface samples give some hope for drill speculators.

NEW COPPER-GOLD FIND AT LORENA
Recent exploration on Malachite’s wholly owned EPM18908, located 5km west of its Lorena Gold Project, has identified an exciting new copper‐gold prospect (“Lady Mary”) with high copper values and visible gold in surface samples.
Malachite Resources advise that an exciting new copper‐gold prospect has been identified as a result of recent exploration at the Lorena Gold Project, near Cloncurry in northwest Queensland. The new prospect, named “Lady Mary” by the Company, is located on Malachite’s wholly owned, newly granted EPM18908, about 5km west of the Lorena mine and about 3km from the Company’s previously reported Copperhead Prospect (on EPM18189).
The Lady Mary Prospect is named after an historical mining lease from the early 1900’s in this location.
There are numerous old workings on the prospect area comprising small pits and what appears to the remnants of some small underground workings. The Company is very encouraged by the high copper assays reported from surface sampling of historical dumps and oxidised outcrops.
The first set of assays from rock chip samples taken at Lady Mary has returned encouraging copper results, some also with significant gold. Fourteen of the samples assayed greater than 2% Cu with the highest being 14.3% Cu.
The Company is also excited about visible gold seen in rock chip samples, which are currently being assayed. The types of rocks that have been observed at Lady Mary appear to be consistent with those of an Iron Oxide Copper Gold (IOCG) system.

Sample Number/ Cu (%)/ Au (g/t) Sample Description
162701/ 14.3 ‐ Grab sample from dump
162702/ 1.8 ‐ Grab sample from dump
162703/ 8.6 ‐ Grab sample from dump
162704/ 3.9 ‐ Grab sample from dump
162705/ 1.9 ‐ Outcrop
162706/ 4.1 ‐ Grab sample from dump
162707/ 6.1 ‐ Grab sample from dump
162708/ 0.9 ‐ Grab sample from dump
162709/ 2.0 ‐ Grab sample from dump
162710/ 2.2 ‐ Grab sample from dump
162711/ 5.1 ‐ Outcrop
162712/ 0.5 ‐ Grab sample from dump
162713/ 9.3 ‐ Grab sample from dump
162714/ 7.8 ‐ Outcrop
162716/ 2.5 ‐ Grab sample from dump
162718/ 6.5/ 1.0 Grab sample from dump
162720/ 1.2/ 0.2 Grab sample from dump
162721/ 4.3/ 0.9 Grab sample from dump
162724/ 4.7/ 0.3 Outcrop

 

[System]

On December 3rd, 2020, Malachite Resources Limited (MAR) changed its name and ASX code to Pacific Nickel Mines Limited (PNM).

 

[frugal.rock]

Might be of interest to some?
Last announcement worth a read.
Nearly bought in early today, went a different direction.

 

[frugal.rock]

If you read anything from BlackRock, they reckon there's a good 10 years ahead for the commodity cycle. I understand they've had a inflow of around 1 trillion USD, whilst some Aus fundies have had billions leave.
(Magellan, Pinnacle, Pendal)

A follow up chart. When a stock has done this, I get nervous if held.
Nickel is hot, but is this stock suddenly way overvalued?
I don't know. Not held.

 

[Sean K]

If you read anything from BlackRock, they reckon there's a good 10 years ahead for the commodity cycle. I understand they've had a inflow of around 1 trillion USD, whilst some Aus fundies have had billions leave.
(Magellan, Pinnacle, Pendal)

A follow up chart. When a stock has done this, I get nervous if held.
Nickel is hot, but is this stock suddenly way overvalued?
I don't know. Not held.

View attachment 135919

All the battery metals and minerals are hot and should remain so for a while I reckon. Probably a decent theme for investing in 2022.

 

[Faramir]

I am picking PNM for September 2022 Tipping competition.
I am attaching a chart but I have no commentary.

 

[Dona Ferentes]

I am picking PNM for September 2022 Tipping competition.

rehabilitation, for young @Faramir. Moving into positive territory for the month

I am attaching a chart but I have no commentary.