- Pacifico Minerals (ASX:PMY) advanced remarkably well in 2020, making significant progress at its Sorby Hills project.
- Pacifico is anticipated to officially change its name to Boab Metals Limited and would trade on Australian Securities Exchange under the ticker BML.
- The Company’s substantial growth potential is backed by high-grade project resources, skilled management and strong market potential for lead and silver.
Australian explorer, Pacifico Minerals Limited (ASX: PMY) relished shining moments amid the COVID-19 pandemic, marking impressive journey during 2020. Significantly, a great deal of progress was made last year at its jointly held Sorby Hills Project, widening the Company’s footprint in the lead and silver market.
As Pacifico enters New Year, it is all set to welcome new transitions while pursuing the growth-focused strategy on the exploration grounds. It is envisioned that the Company will officially change its name to Boab Metals Limited and trade under the ASX ticker: BML on the 12th January 2021. Notably, the new share structure subsequent to the recently completed consolidation of capital would be appealing to long term institutional investors.
Pacifico shares are trading at $0.540 at the start of trading on 7 January 2021.
What’s in Store for Pacifico in 2021?
The fully funded Definitive Feasibility Study is underway, with Pacifico holding $15.5m of cash on hand. It would set the stage for further developments and project growth.
Pacifico has involved with the NAIF (Northern Australia Infrastructure Facility) which can finance entire project debt with its $5 billion of debt finance. After clearing the first two stages, Pacifico has entered the third Due Diligence Stage of the NAIF.
While the Company makes headway to become a signature lead-silver producer by 2023, it intends to tick off many milestones this year. Let us view the Company’s outlook for 2021 and explore the triad drivers backing Pacifico’s progress.
Project Related Advantages backing the growth
Sorby Hills is the most extensive undeveloped, near-surface deposit hosting lead and silver in Australia. Notably, the project has enormous shallow resources, consisting of gently-dipping deposits with their geology clearly defined. It has open pit reserves of 494kt Pb and 17.6Moz Au, which continues to expand. At the same time, many advantages are also associated with the project.
Sorby Hills lies in proximity to existing infrastructure such as Wyndham Port, hydro grid power and Kununurra’s regional centre. The project has seen a consistent increase in the resource with each drilling program demonstrating strong results.
DMS circuit has been incorporated, which would ensure cost-effective treatment of lower grade ore. Meanwhile, Eight Mile Creek via further enhancing exploration potential would enlarge the regional resource footprint of Pacifico.
The PFS released has further confirmed the strong potential of the Sorby Hills Project.
Pacifico’s Management Competencies
The Company’s Board and Management hold extensive experience and have an impeccable record in successfully advancing exploration and development across varying projects.
The diverse range of knowledge held by the board includes past involvement in strategic management, capital raising, securing and operating joint ventures, marketing, corporate advisory and strategic consultancy.
The Company also has a technical team having extensive experience in metallurgy, geology, project management and development, feasibility studies, process development and project execution concerning base metals, energy minerals, precious metals, and industrial minerals.
A Massive Market Potential for Lead and Silver
Minerals associated with Sorby Hills Project, Lead and Silver, continue to enjoy strong market prospects in the changing scenario. Notably, lead batteries are critical towards fostering a shift to the low carbon economy. It enjoys significant applications in electric bikes, 5G network base stations and electric vehicles. The demand for lead is expected to grow at a CAGR of 6.74% between 2018 and 2022.
Silver also has significant applications, especially in ecological industries. The use of silver demonstrated a 7% growth in 2019, while its demand rose by 0.4%. At the same time, silver production dwindled by 1.3%, making the demand-supply dynamics in favour of prices.