There is no doubt that the new board of Boadicea Resources has a nose for finding good projects. Since April 2020, the board has been on a mission to grow the company. In a year like no other, the board took over the wheel and is confidently steering and sailing this ship to shore.

With projects now in three prominent mineralised regions – Fraser Range (11 licences – nine in partnership with IGO), Paterson Province (Koongulla and Koongulla North) and the Drummond Basin in North Queensland (South-West Ravenswood), 2021 is shaping up to be a year when the hard work will start to consolidate and materialise into new opportunities to be unearthed as exploration endeavours get under way.

There is no doubt the market is keenly awaiting what else the Fraser Range will unearth. IGO Ltd is highly leveraged to the region and keenly picking up most of the licences in the province. It appears their keenest interest and exploration endeavours are north-east of the Nova nickel mine and nudging into Boadicea’s Symons Hill licence which IGO picked up as one of nine Boadicea tenements in a $57 million deal struck in September this year.

IGO’s Orion, Hercules and Elara prospects which appear to extend through to Boadicea’s Symons Hill project are being keenly pursued with significant exploration endeavours and a significant budget underpinning the works planned by IGO.

To date, Boadicea has focussed little on its two tenements in the Fraser Range which did not form part of the IGO deal – Fraser Range South and Southern Hills. This week Boadicea has released interesting information of its initial exploration endeavours at these two licences, the Fraser South (E63/1859) and Southern Hills (E63/1951) Projects.

At Fraser South, low-level gold anomalism from 5-13ppb, copper to 74 ppm, nickel to 86ppm and cobalt to 50ppm was identified in the north western portion of the tenement.

Only 15% of the Fraser South tenement has been assessed to date.

At Southern Hills, a coincident single point of low-level nickel, cobalt, chrome anomalism from 192ppm, 52ppm and 319ppm respectively was noted.  No gold or base metal anomalism was identified.

Boadicea’s southern neighbour – Errawarra Resources

There is no doubt the Fraser Range continues to be the exploration hotspot. Taking a look at some of the newcomers in the range, the recent IPO by newcomer to the Fraser Range, Errawarra Resources (ASX:ERW) was hotly contested with investors keen to pick up the stock.

Errawarra floated on a Western Australia gold and nickel story in the Fraser Range. Their land holding is 20km north east of Boadicea’s Southern Hills tenement. In effect, the Errawarra tenements are midway between IGO’s Nova Mine and Boadicea’s Southern Hills project.

The geography and location of Errawarra Resources was not lost on keen investors who in two hours took up all available stock in Errawarra Resources stock  last month in the $6 million raising.

It’s not that Errawarra is new on the scene as it has been an unlisted public company since 2012. It just so happened that less than two years ago the board decided to do things it knew how to do – EXPLORE. The $6 million raising will help Errawarra secure up to a 70% of tenements in the Fraser Range of interest to the market and this boosts the significance of Boadicea’s Southern Hills and Fraser Range South licences.

Errawarra struck a deal to farm into a greenfields nickel project in the Fraser Range held by Tom Reddicliffe. Some might know the name as the director of Gibb River Diamonds and he was the former exploration manager of Ashton Mining.

The name-dropping doesn’t just stop there for the newly-listed Errawarra Resources. The company has appointed nickel specialist Bill Amann of Newexco to head its exploration endeavours in the Fraser Range.

Nelson Resources Woodline Project

Meanwhile in other news of nickel explorers in the southern end of the Fraser Range, Nelson Resources (ASX:NES) rose on news of the start of 1,000 to 1,500m of drilling at its Woodline project in WA’s Fraser Range.

The explorer has completed electromagnetic surveys for its Redmill, Grindall, Socrates and Morris nickel deposit located 50km from IGO’s (ASX:IGO) Nova nickel-copper-cobalt mine.

Boadicea board leads the pack in knowing how to flush out a good deal

When looking at the buy in and commercial deals Boadicea’s peers are striking, a quick look at Boadicea’s portfolio firmly confirms the new board’s  ability to flush out a good deal at a great buy-in value for shareholders.

At Boadicea, take a look at 2020 and what it has been able to achieve at a time when the company had very little cash reserves:

• Completion of IGO Transaction
  • Received A$7M
  • “Free Carry” on all exploration in Fraser Range for 5 years
  • Potential for A$50M upon IGO reporting a JORC Resource
  • Team effort to deliver significant benefits to shareholders
  • Immediate return of A$4.5M to shareholders via an 8c per share dividend
• Completion of Koongulla acquisition and expansion into Koongulla North (Paterson Province)
  • Commencement of exploration
• Identification and application of South West Ravenwood Licence in North Queensland
• Smooth transition of the company, during the period of COVID-19, isolation requirements and limited funds
  • New management
  • Closure of office
  • Corporate governance – risk and compliance issues
  • Online management
• Higher corporate profile
  • Proactive interviews
  • Numerous media articles and press releases
  • Revamped website

A highly proactive board with a keen nose for project expansion and exploration is forging a new future for Boadicea in the quest to grow shareholder value.

Front runner for the next major Fraser Range find

The Boadicea stock price is an attractive buy for investors and the company’s 8 years experience in the Fraser Range, deal with IGO and a board with a strong and committed passion to drive shareholder value, makes it an outstanding frontrunner for one of its licences to produce the next major find in the Fraser Range.

This news story comment piece is written by mining stocks investor and mining public relations specialist Yolanda Torrisi. Yolanda has been an investor in Boadicea Resources since pre float in 2012.