Mamba Exploration (ASX: M24) – East Kimberley and Julimar

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
	Some institutional shareholders support	No creditable flagship project Difficult to raise money

ABOUT COMPANY

Mamba Exploration (M24) (https://mambaexploration.com.au/) explores gold, nickels, base metals, and PGE in Western Australia. Its flagships are the Darling Range Ni-Cu-PGE project and the Kimberley Ni-Cu-Ag project.

The company was listed in February 2021 by raising $7m@20c.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
M24	0.029	210280152		6098124.4080	2.5/0


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
761	49.85%	46.18%	6.91%	1000000	last raise $2.75m@2.5c

Mining Equity is the largest shareholder with 3.2m shares (5.31%). The company spent $3.7m in acquisitions before IPO.

CEO resigned in June 2023.

FLAGSHIP ASSETS

Canary Uranium Project Canada (Up to 75%)

OTHER ASSETS

Darling Range Ni-Cu-PGE Project Julimar WA

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

Calyerup Creek Gold Project Jerramungup WA

East Kimberley Ni-Cu-Ag Project WA

East-Kimberley - Gold, Base Metals, PGE - IGO, PNR, AKN, CAZ, PKO, KRR, PUA, M24

Ashburton Gold REE Project Gascoyne WA

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

The Don REE & Gold Project Tanami WA

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

The Hyden REE Project Hyden WA

(E70/5003)

The initial 20 holes show some thick but low grade mineralisation without much HREO.

SUMMARY

The company hasn’t spent much on exploration in 2021, but its Kimberley project might be something to look forward to once the 2022 field season starts.