Impact: Mildly Positive
Mawson announced the start of its 2019-2020 resource expansion drilling program at the Rajapalot gold-cobalt project in northern Finland. The first diamond drill rig is on site and 15,000m of drilling is planned over the next six months. Tightly defined drill targets should enable Mawson to quickly define an updated resource, which we believe has grown significantly since the previous estimate was released, supporting our view that the stock is undervalued.