Strandine (STA) working on WA site
Strandline Resources (STA) +6.67%: down the smaller end of the resources spectrum, Strandline is working to develop mineral sands projects in WA and Tanzania. The company presented today at a junior miners conference, particularly talking up their Coburn site in WA. Shaw & Partners’ Head of Research Andrew Hines is pretty keen on the stock, talking up the offtake agreements in place which secures around two thirds of revenue over the first 5 years, providing a great deal of surety to the project in order to get funding in place.
The final feasibility study is just around the corner, while Strandline is working to secure $100m in grants through the Northern Australia Infrastructure Facility. The site is expected to produce 230kt of heavy metal concentrate a year for over 22 years, so with the grant, some debt finance and a small capital raise, Strandline will look cheap once operations are up and running, though still 2 years from turning a dollar. A speccy that might have legs!
Strandline Resources (STA) Chart
