Tempest Minerals Limited (ASX: TEM) - Acquire Producing Asset - Tolukuma and Mt Penck Projects.

Rooster Talk Episode 64 is with Don Smith, Managing Director, Tempest Minerals Limited (ASX:TEM) and Iain Macpherson, CEO of Lole Mining Limited.

 

Tempest Minerals is now moving into a production space with what looks like a project that I am vaguely familiar. In my travels in this industry, I came across this project almost 10 years ago. It was in private hands at that time, and it definitely had the credentials to perk my interest.

 

The transaction is still far from being complete as there are still several steps to be completed. Assuming all goes well, the inclusion of Tolukuma will add significant value for shareholders as Tempest moves to become a producer. I don't think that the company is making any proclamations that this will be an easy path.

 

In this episode of Rooster Talk, Don Smith and Iain Macpherson share with us the motivation of Tempest to take on the Tolukuma mine which was historically mined for gold and silver.

 

Iain Macpherson, who is the CEO of Lole Mining Limited has experience in Africa and he accepts the challenging times ahead. Papua New Guinea is not a place of the faint hearted but it is also a place for that elusive pot of gold if you get all the ducks in line.

 

The focus now for Tempest is to get the transaction completed and then work on the non-JORC resource in the mine. According to Iain Macpherson, the establishment of these resources could see the mine back pouring gold withing 12 months.

 

Chapters

00:00 Start

00:20 Introduction

01:02 Don updates us on the acquisition story.

01:37 Iain updates on the PNG projects.

03:04 Comparing Tolukuma and other PNG projects.

04:45 Is Tolukuma the main Non-Highland style of mineralisation?

06:46 What are the risk of PNG?

08:10 All about the Non-JORC resource.

10:08 Tolukuma Structures and the Penck projects

10:29 Tolukuma Mine

11:17 Mt Penck Projects

12:35 How do investors look at Tempest Minerals now?

13:51 What are the next steps after the acquisition?

14:32 Iain explains what this means for Tempest.

15:27 When could cashflow happen?

16:33 What is happening at Yalgoo?

17:08 Newsflow

17:52 Last words?

18:41 Conclusions