Coffee with Samso - Miramar Resources Limited (ASX:M2R) - A Perfectly Valued Gold Story - The Gidji Gold Project and the Path to being a Gold Mining Business.
Release Date: 07/08/2025
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info_outlineCoffee with Samso Episode 205 is all Miramar Resources Limited (ASX:M2R) and the potential of the Gidji and Bangemall projects.
Miramar as a company, is now for better or worst, perfectly valued at less than AUD 3M market capitalisation. Its primmed now for discovery.
The Miramar story has been featured on the Samso platform since February 2021 and I still consider this exploration company one that is best suited for discovery. The most notable companies that I can remember as I write which I felt strongly about a discovery, and was approached to be on a Coffee with Samso, prior to their respective discovery event, and was declined, was WA1 Resources Limited, De Grey Mining Limited, Staveley Minerals Limited.
I have been a firm believer that the Miramar projects were great projects and with great management, in terms of the potential for discovery and a history of taking the economical discovery to production. Allan Kelly had the history and having numerous discussion with him, I felt that he had the mentality to do that with existing projects.
What unsettled the journey was the lack of market sentiment and with the strong market affinity for lithium and the critical minerals; narrative, the gold journey was unsettled and in many cases, great project looked doomed. A great example is the journey of Meeka Metals Limited. Meeka has just poured its first gold bar and its future looks cemented, now with a market capitalisation of AUD $422M.
Listed on the ASX with great projects but in the midst of the lithium run which was followed by the great Critical Mineral rush, the company lost an audience and now with gold price taking centre stage, the stage seems set for that journey of discovery something of economical proportions at Gidji.
The Business of Miramar Resources Limited - The Path to being a Gold Mining Business.
To me, the business of Miramar Resources is now aligned with the market sentiment. The new shareholders may have a different idea for the leadership but I think as a business, Allan Kelly is built for this role. One of the best asset for Miramar is that it is managed well with a strong technical management and keeps the cash burn to a minimal. You don't see many Executive Chair sitting on the drill rig or going out to do reconnaissance sampling and doing prospective type work in the field.
Senior management doing the technical work in the field is an extremely rare sight in todays' ASX mineral exploration companies. The value proposition for shareholders has never been more aligned with the potential of a discovery of a gold asset in the backyard of the Kalgoorlie Goldfields. I feel that the strong gold market will easily give Miramar the uplift in valuation if and when a discovery of significance occur.
The Coffee with Samso Discussion:
In this episode of Coffee with Samso, it is a very clear discussion of the value proposition for the company. Allan gives us a good narrative of the mechanics behind the exploration and what the company faced over the last 4 years as the equity market heavily discounted the market capitalisation of Miramar Resources. Shareholders and potential shareholders will gain insights that will shape their thinking for investing in the company.
Whatever you may think about the past, what is very clear is that you have now a company that has a market capitalisation below AUD $3M, in a gold market bull, prospective gold project with all the right factors and a proven management team to bring in a potential discovery. If you take away the emotions of why you should be looking at the company as an investment, you cannot deny the fact that Miramar is very fortunate to be gifted these attributes and with perfect market timing.
My advice, sit back, listen to Allan and DYOR. Grab your favourite beverage and invest in the next 45 minutes.
Chapters:
00:00 Introduction
01:43 Update on Miramar
02:51 What is SAM Survey ?
06:15 How deep is the Gidji Paleochannel?
11:15 The significance of the potential paddington Dolerite.
13:00 The Value Proposition of Miramar and the Gidji Drilling Program
16:49 The Gold Price Dilemma and the Miramar Opportunity
18:12 Is the Gidji Paleochannel driving Why The market is Misunderstanding the story? 20:01 Is the market now highlighting the uneconomical gold projects?
21:50 Bangemall Update
29:35 Is the Bangemall Project A New Concept?
23:09 Norilsk Phenomenon
23:48 Similarities between Norilsk and Bangemall
25:23 First Evidence:Rock Chips
25:51 Second Evidence: Geophysics - EM Survey. - Drilling.
29:35 New Thinking at bangemall
32:29 The Cheap Entry Point For Miramar Resources.
34:53 A Discussion on Exploration.
36:36 Newsflow
40:01 An Opportunity for Discovery at Gidji.
40:51 Allan Last Words
41:43 Conclusion
PODCAST
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