Duketon Mining (ASX: DKM) – explore Duketon Nickel Project

 

COMPANY SCOREBOARD

Pro PlusProCon PlusCon
 
  • Largest shareholder, Harman Family moved to sub 20%
  • Conservative board
  • Some nickel resources base
 
  • Minimal exploration effort on resources growth

ABOUT COMPANY

Duketon Mining (DKM) (https://duketonmining.com.au/) explores nickel, PGE, and other base metals in Western Australia. Its flagship is the 100% owned Duketon project in the Laverton region.

ASX DKM Duketon Mining projects location

CAPITAL STRUCTURE

In August 2019, the company sold its gold tenements to Regis Resources Limited (ASX: RRL) for $25m cash.

DKM holds 500k WMG shares.

FLAGSHIP ASSETS

Duketon Nickel and PGE Project Laverton North WA

Project Data

The company has made very minimal effort on exploration and resource upgrade despite of sitting on ample cash.

The company delivered a scope study on the project with the breakeven point at nickel price of US$6.1@70c, currently the nickel price is trading at US$9. However, if the company chose to use NPV5 as the headline figure, it is not honest with itself.

Below is the project’s resources:

OTHER ASSETS

Fisher South Project Earaheedy WA

Doris Uranium Project Bryah Basin WA

Tanami Project

Stephens Base Metals Project Paynes Find WA

Lake Barlee Gold Project Southern Cross North WA

SUMMARY

The company has been sit on cash since September 2020 without capital return or asset acquisitions.