SUM - Summit Minerals

[System]

Summit Minerals Limited is focused on exploring for battery minerals on five projects, including the Windfall Project in New South Wales and the Stallion, Phillips River, Northern Lithium REE and Bridgetown Projects in Western Australia.

The Company has entered into agreements to acquire legal and beneficial interests in eight granted tenements and one tenement application in all five Project areas. The Stallion REE Uranium Project shows potential to grow the Stallion U3O8 resource over the prospective Ponton Creek palaeochannel. The Windfall Antimony Project covers the largest land area of all of the projects, at 234km2, with excellent potential for the discovery of antimony ± gold deposits and lies within proximity to multiple historic antimony mines. The Phillips River, Northern, and Bridgetown Projects all have potential for lithium-bearing pegmatites.

It is anticipated that SUM will list on the ASX during June 2022.

Summit Minerals Limited - Summit Minerals Limited

summitminerals.com.au

 

[Dona Ferentes]

Listing date	20 June 2022 11:00AM AEST ##
Company contact details	https://summitminerals.com.au/ Ph: +61 8 9426 0666
Principal Activities	Mineral exploration company
GICS industry group	TBA
Issue Price	$0.20
Issue Type	Ordinary Fully Paid Shares
Security code	SUM
Capital to be Raised	$5,500,000
Expected offer close date	20 May 2022
Underwriter	Not underwritten. Barclay Wells Ltd (Lead Manager).

 

[Dona Ferentes]

Summit Minerals has appointed veteran battery metals executive Jiahe Gower He as CEO to spearhead its rare earths and lithium hunt.

Summit has two projects in the portfolio: Stallion (rare earths) in WA, and Castor (lithium) in the popular James Bay hard rock province in Quebec, Canada.

Stallion is quickly emerging as a project "of size and scale", with a recent 14-hole drilling program returning up to 1,664ppm TREO and confirming widespread mineralisation which remains open along strike to the north.

Meanwhile early stage exploration is underway at the recently acquired Castor, where a total of 228 interpreted pegmatite occurrences a have been identified within Castor from satellite imagery.
..... that's the blurb.
.
and when IPOed, therw were 5 places of interest ... Windfall Project in NSW and the Stallion, Phillips River, Northern Lithium REE and Bridgetown Projects in Western Australia. Four onto backburner and one newie in Quebec
.
Market cap of $5M. And cash in the kitty? They'll need more to go further than scratching the surface.
.
Since listing:

 

[frugal.rock]

Putting this in the monthly comp @Faramir style, ie; no reason at all. Absolutely none.

Here's a meaningless chart.