Overview
Penny West lies about 30 km south of Youanmi in the Yilgarn Craton.
While at Chalice, Morgan led the technical investment case for Spectrum Metals and its Penny West project. Chalice bought about 97 million Spectrum shares for A$5.7 million in the second half of 2019. When Ramelius Resources made a takeover offer for Spectrum in early 2020, Chalice accepted, sold the Ramelius shares it received, and reported a total gain of about A$6.5 million on the investment (quarterly report, March 2020 quarter).
Highlights
- Led the technical investment case for Chalice's investment in Spectrum Metals.
- Chalice invested A$5.7m in Spectrum in the second half of 2019.
- Ramelius Resources (ASX RMS) took Spectrum over in 2020; Chalice reported a gain of about A$6.5m on the investment.
This project is owned and reported by the company named. It is shown to describe the experience of Peron Discoveries' Principal Geologist and does not imply any ownership by, or current involvement of, Peron Discoveries. Resource figures are as stated by the operator at the time.
