The company is tightly held, with around 80% of the stock at open held by the top 20, with executive chair, Patric Glovac, who vended in many of the projects, as one of the largest shareholders.

 

He is among five shareholders that control a combined 25%.

 

The company has projects covering 178sq.km with potential for gold, nickel and copper.

 

Killarney, 140km northeast of Halls Creek, was first in the early 1970s, with the definition of the Turkey Creek nickel gossan, and the Killarney prospect in the McHale Granodiorite, but over the past 50 years there have been multiple owners with mostly first pass exploration and no follow-up drilling.

 

The Yandal project contains the prospective Jundee and Lake Violet sequences, close to Northern Star Resources' 295,000 ounce Julius gold deposit.

 

The ground was controlled by Echo Resources, but its initial auger results were disappointing, possibly due to the depth of weathering in the area likely masking any basement anomalism. Testing with deeper drilling techniques is required to further assess the potential of the area.

 

The Mount Monger project sits on the western limb of the Bulong anticline, adjacent to the structurally-complex Daisy Milano mine. While there are gold trends coincident with known structures, the Salt Creek Fault, Hogan's Fault and Mulga Dam Fault, with similar orientations to Daisy Milano, past RAB drilling failed to return significant gold assays, although there are numerous geochemical anomalies still to test.

 

The grassroots Yundamindra project, in the eastern Kurnalpi Terrane, is considered prospective for orogenic gold and Kambalda-style nickel and may be considered for mineralisation in granitoid rock types that have typically been overlooked until the Gruyere, Burns and Crusader-Templar deposits were discovered.

 

In addition to historical gold workings, there is nickel/cobalt lateritic mineralisation, however exploration has been limited. The Eucalyptus Bore ultramafic may extend into the leases.

 

Glovac sits on the board with geologist Dr James Warren, who was Echo's exploration manager, and former regional manager with the WA Department of Commerce and Trade, Jane Law.

 

The stock opened up at 21c, and peaked at 25c, before closing up 10% at 22c, giving it a capitalisation of $8.5 million.