Overland Resources (ASX: OVR)
Currently capped at just $5.5 million, today’s micro-capped company has recently completed its maiden gold drilling program near Kalgoorlie – the results of which are likely to drop at any moment.
This company’s flagship Trojan Gold Project lies just 50km from Kalgoorlie, home to the 50 million ounce plus Kalgoorlie super pit, and a sprinkling of other multi-million ounce operations that dot the landscape.
Yet gold isn’t the only play up this stock’s sleeve. It also has its hands on a shallow, high grade, and very large Zinc Project, with deposits open at depth. Given recent sentiment surrounding zinc, this small ASX stock will likely be hunting for JV partners on this zinc play.
Finally, the company has just acquired 100% of the McCleery Copper-Cobalt Project in Canada’s Yukon Territory, adding another metal to its growing and quite substantial portfolio.
This company not only has location on its side, its flagship gold project has already seen production, having previously delivered 130,000 ounces of gold and this ASX stock is looking to re-start it.
Two open-pit mines have already been built at its operational site in WA, and with its maiden drilling program recently completed there is room for more production.
There looks to be plenty of upside for this tiny company. It has just raised $1.2 million and is now looking to extend the total JORC resource which currently stands at 2.8Mt @ 1.6g/t Au (inferred and indicated).
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OVR’s gold project remains the priority in the near-term, with a serious zinc project and early stage cobalt project waiting in the wings setting OVR up for a busy 2017.
And with open-pit mining possibly commencing in the next 12-18 months, we could see OVR experiencing its first revenues in this time.