Pvw Resources (ASX: PVW) – junior REE explorer

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
	Reasonable market cap matched with cash balance to regroup	Management credibility loss from Tanami Project outcome	Still focus on the Tanami Project

ABOUT COMPANY

PVW Resources (PVW) (https://pvwresources.com.au/) explores REE in Western Australia. Its flagships include the Tanami REE Project and the Gascoyne REE Project.

The company was listed in February 2021 by raising $2.5m@20c.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
PVW	0.025	101404778		2535119.45	2.6/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
1450	32.20%	32.99%	5.46%	5900000	$9.5m@40c

The performance rights are vested on share price trading above 80c.

FLAGSHIP ASSETS

Tanami Gold and REE Project Hall Creek WA/NT border

Tanami - Gold, REE - NTU, BC8, PVW, HMG, C1X

Project Data

18km corridor between Castella and Watts Rise. Drilling to date comprises 10,727m of RC drilling (7,204m at Castella and 3,523m at Watts Rise). The results don’t indicate there is an orebody.

OTHER ASSETS

Gascoyne/Narryer REE Project WA

Acquired in Feb 2023.

Narryer - REE, Gold - CHN, DM1, KTA, BUX, TG1

Ballinue Base Metals Project Barrabarra WA

Barrabarra - CHN, MI6, BPM, CRS

Jungle Well & Brilliant Well Gold Project Leinster WA

The Jungle Well project has an Inferred MRE of 26,800oz Au @ 1.1g/t completed in November 2019

Yandal - Leinster - Gold & Nickel - NST, BHP, WSA, BGL, RED, STK

SUMMARY

After months of hype of the REE potential at the Tanami project, the directors didn’t participate in the $9.5m cap raise at 40c. Subsequently, the drilling results didn’t find any orebody.