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AndrewD01
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Thomson Resources (ASX:TMZ) could be positioned to capitalise on the silver resurgence, with an existing Gold portfolio and the pending acquisition of two silver assets. Thomson is a NSW focused explorer, set to acquire 100% of two transformational silver assets in the first months of 2021, with due diligence to be completed in January.

 

The Webbs Project is Australia's highest grade undeveloped silver asset and will be complemented by the Conrad Silver Project. Historical workings show Conrad has a very large "in ground value"; one which the previous owner demonstrated to have value of almost one billion dollars.

 

Both projects have seen historic silver production and have a resource defined compliant with the JORC Code 2004 as follows:

 

  • Webbs: 1.5Mt @ 345g/t Ag Eq ; 16.5 million ounces Ag Eq
  • Conrad: 2.65Mt @ 206g/t Ag Eq ; 17.5 million ounces Ag Eq
Both silver projects are located in the New England Fold belt in NSW and combined, equate to an acquisition of over 30 million ounces of silver equivalent resources.

 

The projects will be acquired from the $207M capped Silver Mines Ltd (ASX: SVL), and as part of the acquisition, Silver Mines will hold ~ 19% of the issued shares of TMZ, which will be escrowed for 12 months. Silver Mines Managing Director Anthony McClure will take a board seat as a Non Exec Director.

 

The company is aiming to start aggressively expanding its silver resource base over the coming months, both organically and via acquisitions.

 

There is an experienced management team driving this agenda and it has been strengthened by the engagement of Global Ore Discovery, led by Stephen Nano. Global Ore is assisting with running the due diligence process of on the silver assets and has a history of silver project generations that lead to takeovers.

 

Thomson has a $30M market cap, and recently raised $6M, so appears well funded for near term exploration.

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