SMM - Somerset Minerals

[System]

Tempus Resources Limited was incorporated on 18 April 2018 for the primary purpose of acquiring Montejinni Resources Pty Ltd, listing on the ASX and exploring and developing gold, copper, zinc, nickel and other mineral opportunities.

Montejinni is the registered holder of EL31539 in the Northern Territory and EL 6153 in South Australia. The Company intends to list on the ASX and continue the exploration and development of copper and other mineral opportunities on the Montejinni Project and the Claypan Dam Project.

It is anticipated that TMR will list on the ASX during August 2018.

http://www.tempusresources.com.au

 

[greggles]

Good start for Tempus Resources on its first day of trading on the ASX. It's currently trading at 26.5c, up 32.50% on its issue price of 20c.

 

[Trav.]

Always a worry when the MD starts ramping on twitter, yes I am bitter about CLA so will not be touching TMR with a 10 foot pole

 

[Bazzi]

TMR is undergoing changes and their upcoming contract looks promising. I can see a momentum in July

 

[greggles]

Some good assay results announced today from the Phase 1 drilling program at the Blackdome Elizabeth Gold Project.

Very good grades and reasonable widths, but the mineralisation is at depth.

There is 4,000 meters of drilling remaining in the Phase 1 drilling program and the company expects to recommence and complete the drilling in the Canadian Spring, which will be March, April and May. A NI43-101 resource estimate is expected to follow at some point after that.

 

[Dona Ferentes]

somehow this one slipped from a "primary purpose of acquiring Montejinni Resources Pty Ltd, listing on the ASX and exploring and developing gold, copper, zinc, nickel and other mineral opportunities. (Montejinni is the registered holder of EL31539 in the Northern Territory and EL 6153 in South Australia. The Company intends to list on the ASX and continue the exploration and development of copper and other mineral opportunities on the Montejinni Project and the Claypan Dam Project.)

now it is
> New gold company with listing on ASX (TMR) and TSX.V (TMRR) and with application for OTCQB listing in process.
> Funding in place, successfully raised A$7.8m in 2020, current $2.4m cash, fully funded drill program underway at Blackdome/ Elizabeth Project.
> Actively exploring in two prolific gold districts, British Columbia, Canada and Ecuador.
> In BC Canada, the Blackdome/Elizabeth Project - a historic producer, current drill program to expand the historical high grade resources, potential to fast-track restart of production. Existing mine permit, mill and tailings facility dam.
> In Ecuador – Rio Zarza (adjacent to Lundin Gold’s Fruta del Norte) is drill ready and has high potential. Plus upcoming sampling program at second project in Ecuador, Valle del Tigre is commencing in 2021

M/C $21M

 

[oilleak]

Drill results due on cores with visible gold ....in proven area .

Cash is low but hopefully next raise / deal will be on the back of positive news re core samples .

Low SOI so should boom on positive news .

 

[oilleak]

First drill results pointing in the right direction with more results from other holes to follow in quick succession ....

Area and depth look like growing to a possible monster .....

200 000 ounces already inferred .....with area of find expanding to 4 times original and 10 times the depth , Canada ground is looking exceptional !!

On the other hand TMR are near broke and will be chasing cash in one form or the other shortly .....

I like the confidence they are showing by waiting for results to come through before raising / deals . Most company's would have raised already .....rightly or wrongly ....I like their confidence .....

Hoping for a SPP to grab more on good news ....

Low SOI and if following assay results continue to shine ...... Bob,s your Uncle!!

 

[oilleak]

More results due hopefully this week and with any luck a continuance of nice gold grades and more visible goodies .

Watch it go on good news.....Not many spare shares around ....

 

[frugal.rock]

Despite this being the competition in the monthly comp, have to say the chart and market depth are indicating to me a potential run on.
If it was just the chart, I'd say it's an equal way bet, but the MD sways me to the upside.
Only watching out of interest though ATM.

 

[oilleak]

Dont let fear stop ya buddy ....get in there and get some !!!

Disclaimer...... I have it in the comp....

 

[oilleak]

Zoom that chart out a little further and you can almost make out the cup/handle formation.......

 

[oilleak]

Capital raise has hurt a little but nothing that a few more nice drill results won't fix .

 

[signalFollower]

surely this is moving up on more than just a Next Investors email this morning ?

 

[Sean K]

This is a good headline and the stock has jumped 50% or so.

When you look at the detail in the intersections it's very thin veiny with bonanza grades which when combined over a distance make a wider intersection look a little better than it is. Similar to SXGs intersections.

Hard to tell what sort of volume they'll end up with his this deposit. The veins are over 400m long so far, but pretty thin.

 

[Sean K]

LOL. Anyone here friends or family of the directors?

 

[System]

On July 1st, 2024, Tempus Resources Limited (TMR) changed its name and ASX code to Somerset Minerals Limited (SMM).

 

[Knobby22]

Based on Somerset Island in Canada, which they have taken over Prescott Base Metals who had the rights.
Copper. near where copper has been found. Also looking for copper in Ecuador.
Pretty risky at present. Might be a good buy in Canada.

Will know soon enough. anything with copper raises my antennae.

Tempus Resources (ASX:TMR) has entered into a conditional agreement to acquire 100% of privately held Somerset Minerals, which through its local subsidiary, holds the Prescott Project in Nunavut, Canada.

The Prescott project comprises 48 licences covering a 589km2 area and is considered “highly prospective” for base metals.

Tempus, which has a market capitalisation of $4.38 million, will pay Somerset a non-refundable exclusivity fee of $75,000 which will be used to support permitting and planning works for the upcoming exploration program.

Under the agreement, Tempus will also issue 300 million ordinary shares and 100 million performance rights, which convert into shares on a one for one basis on the meeting of certain milestones, to Somerset.

Somerset will also be granted a 1.5% net smelter royalty on future production from the Prescott Project claims, as well as any subsequent licences acquired within the project area in the first 24 months.

Tempus set to acquire Canadian base metals project - Mining.com.au

Tempus Resources (ASX:TMR) has entered into a conditional agreement to acquire 100% of privately held Somerset Minerals, which through its local subsidiary, holds the Prescott Project in Nunavut, Canada. The Prescott project comprises 48 licences covering a 589km2 area and is considered “highly...

mining.com.au