Encounter Resources
Encounter Resources (ASX:ENR) has taken a big bet on vast exploration acreage in the Northern Territory, helped by sophisticated new exploration techniques. The willingness of BHP to farm in to Encounter’s Ellliott Copper Project, spending $22m over ten years to earn 75%, shows that Encounter is winning some powerful friends. We also expect good things from the Yeneena Joint Venture in the Paterson Province of Western Australia, which is joint ventured to IGO Ltd, that is searching for copper and cobalt. Near term, there is the potential or good things from the company’s Lamil Project, also in the Paterson, which has structural similarities to Rio Tinto’s Winu discovery and is good for gold and copper.