Ladies and gentlemen, gather 'round because we've got a story for you, and it's hotter than a stock market floor on a Friday afternoon. Picture this: Noble Mineral Exploration (TSXV: NOB), a small fish in the vast ocean of mineral exploration, owns a little gem up in Ontario known as the Mann Northwest Property. Now, they've handed the keys over to the big dog in town, Canada Nickel Company (TSXV: CNC), and things are about to get wild.
Canada Nickel, with pockets as deep as the Marianas Trench, is throwing money at Mann Northwest like it's confetti at a victory parade. Noble's handing over 80% of the pie, but don't feel sorry for them just yet because their drilling results are about to blow your mind.
August 23rd, a day etched in the annals of mineral exploration history. Canada Nickel comes out swinging, announcing results that would make even the most stoic investor break into a dance. Drill hole MAN23-01, a beast of a hole, tearing through 412.2m of 0.19% nickel, 0.01% cobalt, 0.028 g/t palladium, and 0.019 g/t platinum plus an additional 81m of 0.24% nickel, 0.01% cobalt, 0.003 g/t palladium, and 0.004 g/t platinum. And that's just the warm-up.
MAN23-02, MAN23-03, MAN23-04, and MAN23-05, each one a rockstar in its own right, belting out numbers that would make even Wall Street veterans whistle in amazement. We're talking about a strike length of 2.7 km. This Mann Northwest target is a gold mine – or in this case, a nickel, cobalt, palladium, and platinum mine.
But hold on, we're not done. Canada Nickel has got three more holes in the oven, cooking up goodness to the northwest. The target's wide open in all directions, like a buffet for mineral enthusiasts. And Noble Mineral Exploration, the genius behind it all, gets to keep a 20% stake in this gold mine – we mean nickel mine. That's like owning a piece of the Mona Lisa, but shinier.
Now, Canada Nickel, they're no small fries. With a market cap that's strutting around at CAD$165.902 million, they're the kings of the TSX Venture nickel exploration kingdom. Noble is just hitching a ride on this lucrative rollercoaster.
But wait, there's more. Noble Mineral Exploration, the underdog with dreams bigger than Elon Musk's ambitions, has a little secret. They've started drilling 2,000 meters north of Kidd Creek, the behemoth of base metal mines owned by the US$71 billion market cap Glencore. It's like aiming for the moon when everyone else is eyeing the stars.
Now, let's talk numbers. Noble Mineral Exploration's market cap is a modest CAD$14.73 million, but don't let that fool you. As of May 31st, they had cash and securities worth CAD$4.83 million. Crunch the numbers, and Noble's enterprise value is a mere CAD$9.90 million or US$7.40 million.
Imagine what that 20% stake in Mann Northwest is worth, especially after Canada Nickel's drilling extravaganza. It's like having a golden ticket to Willy Wonka's nickel factory.
But that's not all. Noble has got more tricks up its sleeve. They own the copper project north of Benton Resources (TSXV: BEX)'s Great Burnt Copper Project in Newfoundland, and Benton's stock has been skyrocketing faster than a SpaceX rocket.
Oh, and did we mention Noble's sneaky 9.99% stake in Spruce Ridge Resources (TSXV: SHL)? They're like the puppet master pulling the strings on Benton Resources and indirectly riding the success of the Great Burnt Copper Project.
In the world of base metal stocks, Noble Mineral Exploration (TSXV: NOB) is the rockstar, the maverick, the one to watch. They're drilling for glory, chasing the next Kidd Creek Mine and might just hit the jackpot. Noble Mineral Exploration will be the name on everyone's lips in 2024, and the show is just getting started!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from NOB of US$50,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.