One to watch IMO. I have taken a small speculative position but dependent on any advancement in the next phase of testing may be convinced to take a larger position. Not an SIR, however has the potential to be so on the back of any significant find and the location is seemingly in the right place. Previous projects focused on gold, this focus is firmly on nickel.
Resurrected with a new and clearly enthusiastic, dare I say seemingly competent board. They were definitely clever and strategic in regard the recent CR. The CR went ahead oversubscribed and at a premium to the SP at the time. MKt cap of around $3.2m and only around 66m shares on issue and very tightly held, mostly in the T20.
The article below about the Dunnsville prospect, however it was the Jaurdi Hills Project that initially drew my attention.
“A systematic review by Parmelia of historical exploration data has highlighted the Dunnsville nickel prospect, located in the north-east of the property, to be of considerable interest.”
http://www.resourcesroadhouse.com.a…ost/persistence-the-key-to-unlock-dunnsville/
http://www.proactiveinvestors.com.a…ing-cash-nickel-sulphide-potential-57728.html
“Parmelia Resources (ASX
ML) has nickel-sulphide exploration potential at the Dunnsville prospect, located within the Jaurdi Hills Project 50 kilometres north-west of Coolgardie in Western Australia.
Reinterpretation of legacy GEOTEM airborne EM data has identified a significant conductor co-incident with the Southern High Priority Target.
Adding interest, highly anomalous historical soil samples with peak nickel (1260ppm), copper (315ppm) and cobalt (150ppm) results from Southern Target are located almost exactly up-dip of the centre of the conductor.
The company’s next step at Jaurdi Hills is to carry out a high-power, deep-penetrating, orientation moving-loop EM survey over the Southern Target conductivity anomaly in order to verify whether its source is bedrock or regolith.
If the ground EM detects bedrock conductors at the Southern and Northern targets then they will be drill-tested by carefully considered RC or RC pre-collar/diamond tail holes depending on depth to target.
Parmelia is now heading to market with a capital raising. The ASX has granted the company a trading halt, with its shares placed in pre-open”
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