Coffee with Samso 149 is with Don Smith, Managing Director of Tempest Minerals Limited (ASX:TEM) and it is all about the new findings for the Meleya project.
Mineral Exploration is all about patience.
Tempest has a very interesting project in Meleya. In my opinion, the discovery is a proof of concept. The geology looks fertile, the structure is observed in the core and the geology is consistent with mineralisation.
What I like about the whole concept is that the desktop observation now has two drill holes. The assays may not have been mind boggling but when has mineral exploration been one that hits the mark on the very first go? Investors need to remember that this is a grassroots project. This is why they got the funding from the government.
I feel the injustice is that the market in all its buoyancy has created expectations that are hard to meet.
The market is looking for big numbers but what the market has missed is that the geology has shown that their interpretation was spot on. What the market sees as a negative is, in fact, a big positive.
This is the classic case of missing the King in the peasant clothing and admiring the nobleman in the golden robe. As an exploration geologist, our goals are never aligned with the aspirations of the share price.
When I saw the core in the core shed, what I saw was alteration and lots of geology that could host mineralisation. In this episode of Coffee with Samso, we hear the frustration of a Managing Director and that of a geologist. That is also coupled with the optimism that they have now proven their concept and that the mineralising fluids do exist.
00:50 Don updates.
01:31 Mineral Exploration is a long game.
02:02 Visual Estimate mandate.
02:22 The Meleya Story - Lessons learnt.
04:10 Molybdenum and the potential of Meleya.
06:26 What is Tempest thinking about now?
08:30 Have the current lessons helped the regional exploration strategy?
09:21 How can investors consume current exploration strategy?
11:19 Exploration is about search and discovery.
11:44 Other projects.
13:02 How has the market been treating Tempest?
14:12 Placement was done with good timing.
14:27 News Flow.
14:56 Exploration is status quo. Why TEM?
16:06 Last words from Don.
About Don Smith
Don is a geologist and entrepreneur with over 20 years in the mining industry. He has worked in operational, development, exploration and consultant roles for junior through to multinational firms spanning over 10 countries and numerous commodities including base and precious metals and energy minerals.
Don’s corporate experience includes project acquisition, financing and development and company management. Don has been the founding director of a number of private and public resource companies including the successful listings on the ASX of Platypus Resources and Alderan Resources. He is currently involved with several start-ups and consults to the industry.
Don has a Bachelor of Science from Newcastle University and a Master of Business Administration from the Australian Institute of Business. Don is also a member of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists.
About Tempest Minerals Ltd (ASX:TEM)
The Company listed via initial public offering (IPO) in 2017 under the name Lithium Consolidated Mineral Exploration Limited (Li3) with the goal of feeding the rapidly growing battery mineral industry. Li3 went on to acquire multiple lithium projects on 3 continents and had a string of successful exploration and divestment transactions.
In 2019, faced with a challenging lithium market, the board decided to expand the strategic focus of the company into a more diversified direction and began looking at other commodities such as copper. At the end of 2019, Li3 acquired private exploration company Warrigal Mining and have subsequently continued developing an exciting portfolio of precious and base metals projects in Western Australia to complement the existing energy metal projects.
In August 2020, shareholders elected to rebrand the company to Tempest Minerals Ltd to better reflect the evolved business and its more diverse commodity focus.
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