Materials

SensOre investors awaiting over 15km worth of assay results across projects portfolio

Thu 28 Jul 22, 1:49pm (AEST)
Gold nuggets resting on dirt in shallow water
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Key Points

  • Four different projects managed by SensOre’s exploration division are to post assay results in the coming weeks and months
  • SensOre has recently acquired yet another geoscience tech company, expanding its software and tech division
  • Fresh gold hit at North Darlot underscores SensOre’s ability to use its AI exploration tech for its own shareholders’ gain

SensOre (ASX:S3N) investors would be well placed to keep their watchlist tabs open with the company to report four different sets of assay results from four different projects in the near future. 

At this time, SensOre is waiting to publish geotech information at the following plays: 

  • Eaglehawk (74 aircore holes at 6,480m) 

  • Balagundi (81 air core holes at 3,778m) 

  • Maynards Dam-Marloo (105 air core holes remaining for a total 5,288m) 

  • Moonera (mud rotary diamond drill hole at 733m)  

All projects, except for Moonera, are gold plays. Moonera, meanwhile, is a critical minerals and battery metals project in southeastern WA. 

These results will follow up on SensOre’s recent successful identification of an untested gold mineral system at the company’s North Darlot acreage

That North Darlot gold system is believed to be 5km in length, and sits nearby existing projects operated by Red 5 (ASX:RED) and Northern Star (ASX:NST).

Investors should note existing evidence is not absolute, but is increasingly supported by the results of both an aircore and RC drilling program.

Also worth keeping an eye on, for the uninitiated, is SensOre’s Victoria pilot project, where it used its in-house AI exploration tech to successfully hit two prospective gold targets in Victoria for third party clients. 

Ultimately, this supports the business case for the commercial applications of SensOre’s software division. The company expects to provide updates on the Victorian pilot in the coming weeks and months (read: third quarter of 2022). 

More cash to splash (or, drill) after recent acquisition 

In early July, SensOre acquired Melbourne like-for-like AI-based geotech exploration software company Intrepid Geophysics, which the company expects to see materialise in an extra $2m in revenue each year

With Intrepid under its belt, SensOre has now grown its software division to a network of five entities. Those are: 

  • Moksha-EM (electromagnetic imaging disruptor) 

  • Argus (a geological 3D modelling software in of itself)

  • JetStream II (a global geospatial database) 

  • Sea-g Marine Gravity (a seafloor mapping program owned by Intrepid)

  • Intrepid Geophysics (a former Oz AI exploration competitor) 

Can we get a quick idea of how SensOre stands?

Dipping quickly into dollars and sense: SensOre finished the June quarter with $4.12m in cash. 

One month returns are up a whopping 53% for SensOre shareholders, though, year to date performance has fallen below -30% as a rough 2022 takes its toll. 

But with over 15km worth of assay results due on the horizon, there is every change SensOre will find an interested market willing to spend. 

In what is a fairly common trend for the materials sector right now; SensOre outperformed the materials index, up until late May. With sell-offs largely driven by macro trends, the upcoming assay data could be the upward reversal investors want to see.
In what is a fairly common trend for the materials sector right now; SensOre outperformed the materials index, up until late May. With sell-offs largely driven by macro trends, the upcoming assay data could be the upward reversal investors want to see.
Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. SensOre was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.

 

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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

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