Minerals 260 (ASX: MI6) – Tim Goyder’s new baby

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
Tim Goyder’s focus

ABOUT COMPANY

Minerals 260 (MI6) (https://minerals260.com.au/) explores Cu-Ni-PGE in the Julimar region WA. The company’s two key assets are the 100% owned Moora Project and a 51% interest in the Koojan Project.

The company was spun out from LTR in October 2021 by raising $30m@50c.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
MI6	0.135	234000000		31590000.0000	12/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
5950	39.85%	34.63%	15.05%

Tim Goyder holds 11% shares after Ti Tree owner took shares.

FLAGSHIP ASSETS

Moora Copper-Gold Project Julimar WA

Julimar - Ni, Au, PGE - CHN, MI6, CPN

Project Data

The 2021/22 drilling program found a little bit copper gold, not nickel.

During April/May 2023, it found a bit more copper with average grades.

OTHER ASSETS

Koojan JV Project Julimar WA (51% with LSA)

The project was effectively unexplored with no prior geochemical sampling or drilling.

Julimar - Ni, Au, PGE - CHN, MI6, CPN

Dingo Rock Gold Project Esperance WA

Esperance - Gold, REE - MEK, MI6, OD6

Nardoo REE Project Gascoyne WA

The company initially bought a large tenements from a private Chinese company Capricorn Orogen Pty Ltd for around $20m, but later withdrew. It then acquired some smaller tenements from EMT for 7m shares@30c. Subsequently, in March 2023, it bought all tenements from WCN for another 7m shares.

Gascoyne - REE, Li - HAS, DRE, RDT, KFM

SUMMARY

LTR perhaps spent $20m at the best on the tenements before spinning out.