Boadicea Resources Limited (ASX: BOA), is a metals and mining sector player, focussed on acquiring exploration tenements in Western Australia for evaluation of commercially viable mineral deposits such as nickel, copper, lithium along with a bent towards gold.
Led by a distinguished and experienced Board of Directors, Boadicea Resources has Mr Clarke Dudley C.A as its Executive Chairman and CEO, Mr Jonathan Reynolds as the Technical Director and Mr Domenic De Marco as the Financial Director and Company Secretary.
The company’s project pipeline includes Simons Hill, Paraburdoo Project, Hyde Soak Project and Lake Nerramyne Project. In addition, the company is also progressing on the projects namely Fraser South Nickel-Copper Project (E63/1859 – 100%), Horseshoe Lithium Pegmatite Project (E15/1596 – 95%) located in the Eastern Goldfields district of Western Australia, and the Wildara Lithium - Gold Project (E36/873 – 100%) located 30 km southwest of Leinster in the northeast Goldfields region.
Of late, the company’s primary exploration target is its flagship 100%-owned Symons Hill Project, which is situated 200 km south-east of Kalgoorlie and east of Norseman, in the Fraser Range. The Symons Hill licence also lies on the north-east trend of Independence Group NL’s licence which contains the premier Nova-Bollinger nickel-copper discovery.
Source: Company’s Activity Report for March Quarter 2019
Recently, the company released its Quarterly Activities Report for the March 2019 quarter with a net cash balance of AUD 679K. As per the company, a Moving Loop Electromagnetic (MLEM) geophysical survey at the Symons Hill Project, involving the testing over the SH-08, SH-09, SH-10, SH-11 and SH-14 targets, was completed in the three-month period with multiple significant EM conductors generated.
Besides, the Modelling of MLEM defined three priority conductors in targets SH-09, SH-10, SH-11 that are considered significant and have the potential to represent sulphide accumulations and warrant drill testing. As of now, Boadicea Resources is largely encouraged by these results, especially in the light of coincident aeromagnetic and gravity features, which were the reasons the targets were originally selected. Meanwhile, it is also advancing with obtaining all necessary permits and approvals and will complete the drilling as soon as feasible, subject to rig availability. The company also intends to cover the drill testing of Bell Ringer “off-hole” conductors.
The MLEM program was designed to complete first pass surveying of five priority targets located within the highly under-explored northern part of the project area. Boadicea is advancing the Symons Hill Project systematically, collecting and analysing quality datasets and drill testing priority targets, as warranted.
As for the entire Fraser Range, Boadicea continued submitting a series of Exploration Licence Applications within prospective areas of the Fraser Range that, subject to successful Mining Warden Ballot, has the capacity to significantly increase the Company’s landholding.
With around 52.85 million outstanding shares and a market cap of AUD 8.72 million, the BOA stock last traded on 15th May 2019 at AUD 0.165. Recently, the company’s Directors including Domenic De Marco and Clarke Dudley gained additional interests in the company upon purchase of 10,000 and 2,361 shares respectively at a cash consideration of $ 1,630 and $ 366 each.
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