Base metal play Myanmar Metals has won a “speculative buy” rating after renowned Australian prospector and minerals investor Mark Creasy became its biggest backer.

Mr Creasy – who has developed various mining projects throughout Australia – recently became the company’s biggest shareholder after converting a $2.745 million loan plus interest into Myanmar shares.

Through his company Yandal Investments, Mr Creasy now holds a 16 per cent stake in the southeast Asian base metals company (ASX: MYL).

The jewel in the crown is Myanmar’s world-class Bawdwin lead-zinc-silver-copper polymetallic project in the northern Shan State of Myanmar.

The project — which has seen significant historical production dating back to the 15th Century – has a resource of 41.4 million tonnes at 7.5 per cent lead, 3.5 per cent zinc, 0.33 per cent copper and 178 grams per tonne of silver.

“Bawdwin was a globally significant producer of metals in the early 20th Century. Myanmar Metals plan is to return the mine to its previous status,” Mr Creasy said.

Bawdwin open pit looking north. Pic: Myanmar Metals

News of Mr Creasy’s investment prompted boutique stockbrokers Triple C Consulting to begin research on Myanmar with a Speculative Buy.

Trip C believes Myanmar is well placed for re-rating given its significant resource size and grade and its amenability to open pit mining at Bawdwin.

The company also has unrivalled exposure to a large underdeveloped multi-commodity deposit, accord to Triple C.

World-class board and management with experience in Myanmar and Tier-1 assets and strong relationship with in-country partners also factored into Triple C’s recommendation.

Mr Creasy has a been credited with some of Australia’s biggest mineral discoveries such as the gold potential of Western Australia’s Yandal belt, including the Jundee and Bronzewing mines.

He also famously pegged ground in the Fraser Range belt before offloading his tenements into the former Sirius Resources, taking a 35 per cent stake in the company.

In 2012 Sirius shares soared to $5 following the discovery of the massive Nova-Bollinger nickel-copper-cobalt deposit.

Mr Creasy, who has a net worth just shy of $500 million, made a vast amount of wealth when Sirius was swallowed up by Independence Group in a $1.8 billion deal in 2015.

Myanmar was trading unchanged yesterday at 9c and has a market cap of around $42 million.