Blackstone Minerals - Nickel Focussed. But Nickel Experienced?
Matthew Gordon, Ptolemy Capital
Interview with Scott Williamson, Managing Director of Blackstone Minerals (ASX:BSX)
Blackstone Minerals is an ASX-listed nickel-cobalt-gold company exploring the Ta Khoa Nickel Project in Vietnam, the BC Cobalt Project and gold and nickel projects in Western Australia. Blackstone Minerals has made their Vietnam project its flagship after plummeting cobalt prices generated, in some small part, by ethical mining issues in the DRC. Small market cap with limited cash means returning to market in 2020.
Blackstone Minerals has 4 assets in 3 countries. There are obvious concerns regarding Blackstone's ability to operate efficiently, especially given its small size (a market cap of AU$22.05M). Williamson accepts the difficulties of such an operation, but insists having assets as a contingency is a necessity for juniors. Williamson is keeping the BC Cobalt project in good standing after 2 years and AU$3-5m dollars investment. He insists in the right market their cobalt project has the potential to be worth as much as AU$100m, and is currently only spending around AU$200,000 per year to maintain it.
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