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Anaconda casts net wider

Anaconda Nickel Limited has cast its net farther into the prospective base metals pool by farming into the Tottenham nickel-cobalt laterite project owned by Perth-based Alkane Exploration NL.

Under the terms of the agreement, Anaconda can earn 90 per cent equity in the project by spending $1.5 million over a five-year period.

The Tottenham project comprises two exploration licences, centred about twenty-five kilometres to the northwest of the town of Tottenham, 150km north-west of Alkane’s Peak Hill Gold Mine in central western New South Wales.

The tenements cover a combined area of 354 square kilometres and were acquired by Alkane’s subsidiary, LFB Resources NL, from Rio Tinto Exploration (CRAE) as part of the Lachlan Fold Belt divestment package.

Previous, but limited, RAB/auger drilling of selected magnetic targets intersected lateritic nickel-cobalt mineralisation of 26 metres grading 0.7 per cent nickel, 20m at 0.8 per cent nickel, 9.75m at 1.06 per cent nickel and 25m of 0.2 per cent cobalt.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
87thRed 5145%-33%
484thAlkane Resources-2%-5%
491stBCI Minerals-4%-43%
633rdExcelsior Gold-25%-15%
781stBlackham Resources-64%-5%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

25/06/18
$320k Bought
06/06/18
$254k Bought
04/12/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

29th↑Alkane Resources$117.9m
35th↓Red 5$69.6m
37th↑Excelsior Gold$64.1m
39th↓BCI Minerals$63.6m
41st↑Blackham Resources$54.9m
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Alkane Resources

153rdNicholas Earner$605k
172ndIan Chalmers$581k
217thMichael Ball$502k
Ranked by total remuneration from all listed WA companies

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