The business of lead has long been a mystery to me. I did not realise the extent the equity market has forgotten the lead sector.
It was my meeting with Galena Mining Ltd’s (ASX:G1A) Alex Molyneux recently that made me curious enough to invite him to a Coffee with Samso. I am very glad he accepted as he has brought a lot of information to the table.
In this session of Coffee with Samso, Alex Molyneux has demystified the concept of this industry. Alex has made me think that we may be missing out on a great opportunity to get into the lead sector.
There is a great amount of resource that is being shared. I encourage readers to take the time to watch and listen intently to his take on a rarely understood investment opportunity. Did you know that lead plays an important role in the EV story?
(Source: Galena Mining)
Galena Mining Limited floated on the ASX in September 2017.
The company owns 100% of the Abra base metals deposit located in the Gascoyne Region of Western Australia. The Abra deposit was discovered in 1981 and remains one of the biggest undeveloped lead deposits in the World. Abra is within a granted mining lease.
Galena completed a very successful drilling campaign in Q4 2017 with high-grade mineralisation intersected in every one of the 12 holes.
These results have allowed the estimation of a new 2012 JORC compliant resource in March 2018 of
11.2 million tonnes (indicated and inferred) at 10.1% lead and 28 g/t silver within 36.6 million tonnes (indicated and inferred) at 7.3% lead and 18 g/t silver.
Galena has completed a pre-feasibility study in September 2018 and is now on the pathway of a bankable feasibility study.