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Tolga & The Boys Await News From The Alderan Front
BY BARRY FITZGERALD - 22/06/2018 | VIEW MORE ARTICLES BY BARRY FITZGERALD

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AL8 - ALDERAN RESOURCES LIMITED


Stuffed to the gunnels with stock, Tolga and the boys await news from the Alderan front

Tolga Kumova reckons he is “bloody excited’’ about what might come from the drilling program that has just kicked off at Alderan Resources’ (ASX: AL8) Frisco copper project in Utah.

He’s got close to 15% of the stock after picking up another 600,000 shares earlier in the week. So he’s got a lot riding on the drill program, one which is targeting the big time potential of AL8’s flagship Accrington/ Perseverance prospects at the Beaver County property.

Kumova has been here before. The former stockbroker - come - expansive - mining - investor made his name backing the now $820m Syrah (SYR) when it was a $15m company in 2011 on the strength of what might come from its Balama graphite project in Mozambique.

He recalled this week that the first time he walked over the outcropping Balama deposit he could see graphite everywhere and got “bloody excited’’ about what a drill campaign might prove. History shows Balama went on to become a Tier 1 discovery, the development of which is reshaping the global graphite market.

Walk the Frisco project and it’s hard not to stub your toe on the outcropping copper mineralisation, or fall down an old mining shaft. But as Kumova is the first to say, the ultimate test of Frisco’s potential rests with what the drill bit finds. So while it is good to be excited, Kumova and other AL8 shareholders (directors and management hold 50% of the stock) have also got to be feeling a bit nervous.

We will all know soon enough. A 7,000m drill program has kicked off, with the first hole set to test the outcropping copper/zinc/silver/gold - bearing skarns at the historic Imperial copper mine before heading off to the deeper Perseverance porphyry copper prospect at depth.

Plus, Rio’s deal with little Alloy is more evidence the multi - national has landed a big copper find in WA. Read more +



View More Articles By Barry Fitzgerald

One of Australia's leading business journalists, Barry FitzGerald, has joined the Resources Rising Stars' Ten Bagger team. FitzGerald, who is a specialist resources reporter with 40 years' experience, will publish his highly regarded weekly column in Ten Bagger.

FitzGerald - whose column highlights the issues, opportunities and challenges for small and mid-cap resources stocks - most recently penned his column for The Australian newspaper and before that, The Age. His column will give readers the chance to benefit from FitzGerald's extensive contact base, invaluable insights and vast experience of the junior and mid-tier resource sector.


 

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