Page 92 - pd287-Oct20-mag-web_Neat
P. 92
nIcKeL PReVIeW
Labour squeeze hits juniors
xplorers have been appreciated for semi-massive sulphide from 219.1m- historically low levels and the commodity
Etheir discovery successes in the past 234.45m downhole were intersected. prices are at historic highs.
12 months and are now dealing with Diamond, RC and aircore drilling were “For an explorer who earns nothing and
heightened expectations. ongoing when Paydirt caught up with a mine developer who earns nothing, what
Financial backing for many juniors is the Legend’s Mark Wilson but the managing we spend has to come from the money
strongest it’s been in years, with investors director is finding it increasingly difficult to raised in the market. It is really hard to
showing willingness to support grassroots compete with bigger rivals.
and early-stage projects in times of strong “There is still a big expectation on us
commodity markets. to deliver more and our share price [15c/
However, even with a strong tailwind to share] is reflecting that; it is not moving,”
work with, there are still challenges juniors he said. “The market is still open for capital
are faced with, including the likes of Leg- raisings and if you are a miner, you can get
end Mining Ltd. it [funding].”
Legend – a company boasting a mar- With established miners awash with
ket capitalisation of $380 million and the cash and eager to find new projects, the
backing of Creasy Group (27%) and IGO exploration services sector is experiencing
Ltd (14.2%) – has elevated its status in the a squeeze.
Fraser Range on the back of some of the “We are seeing labour shortages start-
best hits in the province since the birth of ing to bite,” Wilson said. “If we want to
Nova in 2012. upscale our programmes, we are finding
Most recent results from Mawson were it very difficult to source the manpower to
from RKDD021 where a total of 24.65m support those programmes. Gold and iron
of nickel-copper sulphides were identified ore are going well and nobody has more
across two intervals: 9.3m of heavy dis- money than the iron ore guys at the mo-
seminated to net-textured sulphide from ment and they can pay people whatever
132.2m-141.5m downhole and 15.35m they want to get whatever they want as
of net-textured heavy disseminated and they have all driven their costs down to
Mark Wilson
Quality
ISO 9001
ESTABLISHED IN 1987,
Excellence in WE ARE A PROUD WESTERN AUSTRALIAN FAMILY OWNED BUSINESS,
NOW THE LEADING ORGANISATION FOR
Exploration MINING, EXPLORATION & GEOLOGY SUPPLIES
Drilling in progress to test high grade
Ni-Cu-PGM at Broken Hill, NSW.
Significant porphyry copper-gold target at
Apsley along trend from the Boda discovery
(Alkane Resources Ltd).
Large tenement holdings in the emerging
Ni-Cu-PGM province of SW WA and in the
Blackridge gold field QLD.
BOARD OF DIRECTORS
Peter Unsworth Non-Executive Chairman
Michael Jones Managing Director
Paul Ingram Non-Executive Director
Markus Elsasser Non-Executive Director
WHERE SERVICE & TRUTH MATTERS
(08) 6454 6666
impactminerals.com.au
Page 92 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT
