Impact Minerals Brings Different Perspective

John Robertson

PortfolioDirect

Impact Minerals CEO Mike Jones offers a good example of the ‘needle in the haystack’ nature of mineral exploration. Every mineral exploration company CEO sounds destined for success. There’s always at least a soil anomaly or geophysical highlight to keep hope alive despite usually slim chances of success. Jones has found the highest platinum grades in Australia around Broken Hill. Jones speaks about how CRA mistakenly drilled parallel to mineralisation when they had the same area in their sights in 1969 and found nothing. Jones – who headed up a team at WMC targeting big projects – has reappraised the earlier work and literally come at the deposit from a different direction to get several intercepts of platinum group metals with copper and nickel. For more than three years, the company’s 3 cent price level has offered both support and resistance but the gravitational pull has been striking. It is at that point again. More drilling results will test for PGMs and, at the same time, test the capacity to break this price barrier once and for all.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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