Errawarra Resources (ASX: ERW) – Narryer & Karratha focused
ABOUT COMPANY
Errawarra Resources (ERW) (https://www.errawarra.com/) explores gold and nickel in Western Australia. Its flagship is the Errabiddy Ni-Cu-PGE Project in Narryer. The company also owns 80% interest in the Andover West Nickel Project in Karratha.
CAPITAL STRUCTURE
| ASX Code | Share Price | Shares | Option (In) | Market Cap | Cash/Asset ($m) |
| ERW | 0.081 | 95920669 | 7769574.189 | 3.3/0 |
| Holders No | Top 20 (Cur) | Top 20 (Pre) | Director Hold | Performance Right | Note |
| 2428 | 53.22% | 55.27% | 12.97% | 5000000 | last raise $4.25m@12c; pre raise $1.2m@22c |
It was listed in December 2020. In March 2021, Mr Thomas Reddicliffe, the largest shareholder, has been appointed as the executive director.
FLAGSHIP ASSETS
Andoverwest Nickel Project Karratha WA (80%)
Project Data
In November 2021, the company paid 15m shares (a quarter of the company) and 7.5m 30c options for the project using AZS‘s nearology.
OTHER ASSETS
SUMMARY
The company re-focuses itself on the Andover Project, but it is too quick to issue short-priced free options.
The company hasn’t spent anything on exploration in FY22 ($1.6m in FY21).