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S2R - S2 RESOURCES LIMITED


nipper
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S2 Resources Limited (S2R) was listd in late 2015 and defined itself as a mineral exploration company focused on mainstream commodities such as gold and base metals in politically stable jurisdictions such as Australia and Europe. Its objective was to provide superior investment returns through the discovery and development of high value mineral resources, as a result of exploration and the identification of early stage assets with high growth potential.

There was a flurry of interest in 2016 with the shareprice running as high as 80c, before retreating and languishing in the 10c to 20c range for most of the last 5 years.

July 2020 saw a $7.5milion placement; with another source of funding in June 2021being a $9.6M from a farm in of some tenements in Finland that were gold bearing, but also described as non core. in late August 2021 another placement for $5million was slated for multiple exploration programs in Australia and Finland.

• S2 well funded post placement with approx. A$11.4 million cash plus a 13.5% shareholding in Todd River Resources valued at $4.9 million.
 
• S2 now fully funded to undertake exploration on multiple fronts in Australia and Finland, with September quarter activities including:

  • ... Ongoing diamond drilling at the Aarnivalkea gold prospect in Finland
  • ... Imminent diamond drill testing of the Ruopas Isovaara nickel copper PGE target in Finland
  • ... EM and soil geochemistry surveys in progress at the West Murchison nickel copper PGE project in Western Australia
  • ... Ongoing reconnaissance drilling at Jillewarra in Western Australia
  • ... Readying for the start of exploration at the belt scale Koonenberry nickel copper PGE project in New South Wales  

Capital raises and a hefty exploration schedule has kept the SP down, but there has been a recent surge, from 9c to 22c in the month of November, when  it was announced a tender for attractive ground in Victoria had been won.

  • S2 the successful tenderer for the prime ground release Block 4 surrounding the world class Fosterville mine
  •  Block 4 has an area of 394 square kilometres and extends for 55 kilometres, incorporating the northern and southern extensions of stratigraphy and structures which host Fosterville mine mineralisation.
  • Multiple historic gold prospects and anomalies already identified, yet exploration drilling remains limited
Quote

Commenting on the successful tender, S2 Chief Executive Officer Matthew Keane said, We are humbled to have been selected based our exploration track record and high focus on ESG.  This is a highly prospective block situated in the historic and well endowed Bendigo goldfields.  It has real potential for company making discoveries and our highly experienced team is excited to get on the ground and commence work.  This is an accredited gold exploration team, having been responsible for multiple gold mine discoveries in the past, including Thunderbox and Baloo in Western Australia and Wahgnion in Burkina Faso, as well as the major Nova Bollinger nickel copper mine in Western Australia. This block is a valuable addition to the S2 existing portfolio of high quality gold and base metal projects in Australia and Finland.

 

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