Stavely Minerals (ASX: $SVY) Quarterly Report December 2023

Stavely Minerals (ASX: $SVY) reported $1.38M cash on hand at the end of the December 2023 Quarter. The company focused its exploration efforts on the Hawkstone Project in Western Australia, with plans for a new moving loop electromagnetic survey and co-funding from the WA Government for an 800m deep diamond drill-hole. The company also highlighted the potential for significant discoveries in the emerging magmatic nickel province in the West Kimberley.

Executive Commentary on Exploration Efforts

The company's focus on the Hawkstone Project reflects our commitment to exploring emerging mineral fields. The recent successful Falcon gravity gradiometer and magnetic survey has provided valuable insights, and the co-funding agreement with the WA Government demonstrates the recognition of the project's potential. Despite the challenging market sentiment towards nickel projects, we remain optimistic about the opportunities for high-quality nickel sulphide deposits to generate profits throughout the price cycle. Our exploration priorities include the S41 gold breccia system and several copper-gold porphyry and intrusive-related discovery opportunities along strike of the Thursday's Gossan and Cayley Lode copper-gold deposit.

Summary of Quarterly Report and Outlook

Stavely Minerals (ASX: $SVY) reported a focus on the Hawkstone Project in Western Australia, with plans for low-cost, high-impact exploration. The company highlighted the potential for significant discoveries in the emerging magmatic nickel province in the West Kimberley. Despite the challenging market sentiment towards nickel projects, the company remains optimistic about the opportunities for high-quality nickel sulphide deposits to generate profits throughout the price cycle. Stavely Minerals also emphasized the exploration opportunities at the Stavely Project in western Victoria, including the S41 gold breccia system and several copper-gold porphyry and intrusive-related discovery opportunities. The company is reviewing exploration priorities with a focus on reducing costs and executing focused, low-cost, and high-impact on-ground programs while conserving cash in current market conditions. Stavely Minerals continues to evaluate corporate transactions that have the potential to unlock significant value from the high-grade and quality of the Cayley Lode Mineral Resource, with a view to achieving financial, geographic, and commodity synergy.