Balkan Resources (Private) – exploring the Perlati copper deposit in Albania
Posted on Friday, October 9th, 2009 | In Investing, Investing Lessons, Small & Micro Cap, Stocks to WatchbSummary/bbrbr
Balkan is exploring the previously mined Perlati copper deposit in
Albania and the Devolli JV with European Nickel. Perlati contains a
historic, non#8209;NI 43-101-compliant mineral resource of just under three
million tonnes, averaging 2.45 percent copper. The company is working
to a listing on the TSX Venture Exchange.
pBKey points:/BBRBRul
pli type=squarebOur assessment yields a core base-case valuation of C$0.29/bbr
We assess Balkan Resources’ current value at C$0.29 per share, with significant
potential for appreciation with exploration success. Continued development
suggests valuations as high as C$1.16 per share in the post#8209;ermitting
environment under more optimistic scenarios.
pli type=squarebBalkan is conducting advanced exploration on the Devolli Project/bbr
Balkan Resources has commenced a series of confirmation drill holes on
the Kokogllave property this year and assays from the first tests are positive.
European Nickel completed 9,257 metres of diamond drilling to complete their
JORC-compliant report on the Devolli portion of the project. The company has
embarked on a prefeasibility study that includes completing 44,000 metres of
drilling, which should be sufficient to upgrade the historic data to NI 43-101
standards. Balkan plans to employ European Nickel’s patented heap leach
technology for the Devolli Project which has been successfully implemented
on the Caldeg nickel laterite deposit in Turkey.
pli type=squarebModern exploration techniques and assaying could expand the potential of Perlati/bbr
The historic assays concentrated on copper, and tests for precious metals and
zinc were spotty at best. Tirex Resources is in the midst of a multimillion#8209;dollar
exploration programme on its Mirdita property, which surrounds Perlati, and its
assays show significant zinc, gold and silver values.
pli type=squarebBalkan is adding to existing data at Perlati with a new drill programme/bbr
The company commenced drilling on the Perlati deposit in 2007 and eighteen
holes have been completed to date. Balkan proposed a second phase of
drilling that would allow the company to upgrade the historic calculations to
a NI 43#8209;101#8209;compliant indicated and inferred resource. As well, the company
intends to expand the known mineralised zone, which remains open, and to
test new targets on the property.
pli type=squarebA second priority project offers added potential/bbr
The Devolli project in southeastern Albania is another advanced project
deemed a priority by Balkan Resources. The project is a joint venture between
Balkan and European Nickel plc that includes the Kokogllave, Devolli and
Zemblak exploration areas, which encompass 5,100 hectares of land. The
project contains a nickel laterite deposit that has seen 136,800m of historic
drilling, resulting in a historic resource potential in excess of one hundred
million tonnes, averaging 1.21 percent nickel.
pli type=squarebThe Perlati licence is one of Balkan’s two priority projects/bbr
Balkan Resources holds a 100#8209;percent interest in the 290#8209;hectare Perlati
project in northern Albania. The property contains the previously identified
Perlati copper deposit, a portion of which saw historical mining. The deposit
contains a historic, non#8209;NI 43#8209;101#8209;compliant mineral resource of just under
three million tonnes, averaging 2.45 percent copper, after accounting for
probable depletion while the mine was in production.
/li/ul
BRBR
The full report can be accessed at:
A href=http://reports.objectivecapital.com/ocreports/OC-UKHNW-full-objective-balkan-sept09.pdfhttp://reports.objectivecapital.com/ocreports/OC-UKHNW-full-objective-balkan-sept09.pdf/aBRBR
For all our previous comments on this company visit:
A href=http://www.objectivecapital.co.uk/Balkan.PreIPO.asphttp://www.objectivecapital.co.uk/Balkan.PreIPO.asp/a
Last 5 posts by Gabriel Didham, CFA
- Balkan Resources (Private) - exploring the Perlati copper deposit in Albania - October 9th, 2009
- Balkan Resources (Private) - exploring the Perlati copper deposit in Albania - October 9th, 2009
- Sofame Technologies (SDW.V) - more detail on funding plans - September 11th, 2009
- Scancell Holdings (SCLP.PLUS) - differentiated technology and a focused plan offer ingredients for success - September 7th, 2009
- Sofame Technologies (SDW.V) - bridge financing discussions - August 31st, 2009
Albania, Balkan, Balkan Resources, CAD, European Nickel plc, Historical mining, Investing, Investing Lessons, Objective Capital, Small & Micro Cap, Stocks to Watch, Tirex Resources, TSX Venture Exchange, Turkey, www.objectivecapital.co.uk/Balkan.PreIPO.asp/a
 About Gabriel Didham (http://objectivecapital.co.uk)
Gabriel Didham, CFA Managing Director, Objective Capital Gabriel is a Chartered Financial Analyst and former number one rated analyst. He has extensive experience of regional and pan-sector research both here in the UK and abroad. He was previously the cofounder of Investinet and ExchangeSquare.com, for a time one of the internet’s most trafficked global financial websites. Objective is a leading UK provider of objective corporate research. We offer investors two levels of insight - a regular survey of the complete small and mid-cap segment, highlighting those stocks where attention should be focused, and our detailed institutional-quality, sponsored research coverage. As always, our research doesn't offer trading recommendations or advice but an objective up-to-date assessment of the prospects, and risks, of the companies we cover. While the companies we cover sponsor our research, it is always written on behalf of our readers. It is of the essence of our research that it be independent - that is opinions, estimates and valuations be solely those of Objective's analyst; objective - that is based upon verifiable data; and transparent - that is based upon explicit assumptions. For more about Objective Capital and our services for companies visit our corporate site at Objective Capital |
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