RE:RE:RE:Gochager + Rottenstone ....
solotrader wrote:
FNI raised $4.5Mil at the end of '23
More than enough money to drill !
I'm assuming they are being more selective on which property and holes to drill with best odds to "hit".
https://ca.finance.yahoo.com/news/fathom-nickel-announces-closing-second-125000437.html
By my calculations Fathom Nickel most likely has less than $1 million in the kitty. They will need to raise money again before they drill. This cycle of financing followed by drilling is slowly diluting existing shareholders as the number of outstanding shares continues to grow and the share price dwindles as they haven't hit anything economical as of yet. This is unfortunately often the nature of these high risk exploration companies.
They will most likely drill the Mal Lake showing this coming winter 10 km southeast of the original Gochager deposit so they can demonstrate potential significant scale to the lower grade nickel encountered so far at Gochager. I personally see some similarities of the Gochager geology with that of the nickel found with the Crawford Nickel project in Ontario. I could be wrong but they are both characterized as komatite hosted nickel copper deposits. Fathom has intersected 100's of meters of low grade nickel at Gochager and if they do the same at Mal Lake it could possibly be something similar to the Crawford nickel deposits. Just my own observation.
https://www.nsenergybusiness.com/projects/crawford-nickel-cobalt-sulphide-project/?cf-view