ASQ 0.00% 13.0¢ australian silica quartz group ltd

Sovereign's Bait and Switch

  1. 5,479 Posts.
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    I was thinking about the markets muted reaction to yesterdays Sovereign announcement and it occurred to me that we are being gamed.

    The market reacted to the leading paragraphs which talk about Sovereign results being low grade Nickel and Copper.
    Theres almost no mention of PGM's but with Sovereign almost certain to be the Northern end of Julimar its very very likely that the same geology and mineralisation will be present.

    Consider the MRE from CHN;

    330Mt @ 0.94g/t 3E1, 0.16% Ni, 0.10% Cu, 0.016% Co (~0.58% NiEq2 or ~1.6g/t PdEq3);«
    Containing 10Moz 3E, 530kt Ni, 330kt Cu, 53kt Co (~1.9Mt NiEq or ~17Moz PdEq);

    Why are DEV prevention Sovereign as a Nickel / Copper property?

    If you reflect its value as part of Julimar it should have another digit on both JV partners shouldn't it?
    Why is there so little reference to PGM's yet the auger sampling of the 'sterile' top layer had PGM hits over a broad area?
    The market response started to warm up yesterday before some largish sells pushed the price back down whilst DEV, company with a market cap 4x ASQ's held around the 40c mark.
    My bet is that we will see a bid for ASQ from DEV or CHN before the assays release because if the PGM's are similar grades to CHN MRE above, any of the miners that want to emulate CHN or join the Julimar party will have a entry door (complete with welcome mat out front).

    DYOR.
 
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