Ascot Delays Mining Resumption Due To Capital Shortfall

Ascot Resources (TSX: AOT)

Provided an update on the progress of the Premier gold project following an initial review conducted by president and chief executive officer Jim Currie and his management team.

 

 

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Comment

Ascot is lurching from one failure to another, and we’re in farce territory now.

From the “ship sinking” news release that delayed the start of production, to a withdrawn financing offer, to an eventual minestart that was halted quickly due to a lack of gold production, to finally this, the halting of the restart due to another lack of money!

Any long term holders still holding must be wringing their hands for staying loyal to a company that has overseen one disaster after another.

I sold at a loss, and am so happy I did, because it would have been a much bigger loss had I held on.

A new CEO has been hired, with significant experience in the industry, so there may be hope yet that Ascot will finally commence commercial production. Once the next financing is done this may well be an investment opportunity, but not before, in my opinion.

 

 

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Ascot Gold

 

 

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Ascot Resources TSX : AOT
Stage Development
Metals Gold
Market cap C$136 m   @ C$0.14
Location Golden Triangle, British Columbia
Website www.ascotgold.com

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2025-02-05 14:59 ET – News Release

 

ASCOT RESOURCES PROVIDES FURTHER UPDATE ON CEO REVIEW

 

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Ascot Resources faces delays at Premier

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Ascot Resources Ltd. (TSX: AOT) has provided an update on the progress of the Premier gold project following an initial review conducted by president and chief executive officer Jim Currie and his management team.

Due to the limited availability of trained labour, underground development has commenced later than expected, with slower advancement than anticipated. As a result, the previously outlined timeline for the restart of mill operations is no longer achievable. The company now projects ore throughput to commence in July, 2025. A revised schedule and budget are currently being finalized to reflect this updated timeline.

 

 

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Mr. Currie commented:

“Following my initial review, the mill and deposit are both expected to perform in line with prior guidance. However, the delay in development will result in a working capital shortfall.

 

“As such, we are actively engaged in discussions with our major shareholders, debt providers and bankers to address the funding gap. We sincerely appreciate the continued patience and support of our stakeholders as we navigate through this challenging time.”

 

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Ascot remains committed to transparent and timely communication with its shareholders, stakeholders and the broader investment community. While the company is in discussions regarding potential financing solutions, there is no certainty that sufficient capital will be raised. The company thanks all stakeholders for their continuing support as the company works toward the successful advancement of the Premier gold Mine.

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To read the full news release please click HERE

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The live gold price can be found HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds no shares in Ascot Resources.

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To read our full terms and conditions, please click HERE



Capricon Expands Mt Gibson Project Tenure

Capricorn Metals (ASX: CMM)

Advised that it has entered into a binding agreement with Top Iron Pty Ltd to acquire the prospective Mummaloo Project tenements and physical assets.

The Mummaloo Project covers approximately 219 square kilometres of tenure located contiguous to the north of Capricorn’s Mt Gibson Gold Project.

 

 

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Capricorn Metals

Capricorn Metals projects location map

 

 

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Capricorn Metals ASX: CMM
Stage Production, development, exploration
Metals Gold
Market cap A$3.26 Billion  @A$7.90
Location Western Australia
Website www.capmetals.com.au

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ACQUISITION OF MUMMALOO PROJECT
CAPRICORN EXPANDS MT GIBSON PROJECT TENURE

Capricorn Metals Ltd (ASX: CMM) (“Capricorn” or “the Company”) is pleased to advise that it has entered into a binding agreement with Top Iron Pty Ltd (“Top Iron”) to acquire the prospective Mummaloo Project tenements and physical assets (“Mummaloo Project”).

The Mummaloo Project covers approximately 219 square kilometres of tenure located contiguous to the north of Capricorn’s Mt Gibson Gold Project (“MGGP”) in the Murchison region of Western Australia.

The Mummaloo Project is considered highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits. Capricorn has already identified four target zones for exploration within the project tenure, with the highest priority target located only 6 kilometres northeast of current MGGP resources.

The transaction consideration is $3.5 million, of which Capricorn has paid an initial cash deposit of $100,000. The balance of the consideration will be satisfied by the issue of fully paid ordinary Capricorn shares to Top Iron upon completion. The share issue consideration will be determined based on the 5-day VWAP preceding the completion date.

Completion of the acquisition is expected in February 2025, being subject only to procedural conditions precedent.

 

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Background on Mummaloo Project

The Mummaloo Project, located approximately 295 kilometres north-northeast of Perth.

 This region is well-regarded for its significant mineral discoveries. The Yalgoo-Singleton Greenstone Belt spans 190 kilometres and extends in a northnorthwest direction from Mt Gibson to north of Yalgoo town.

It hosts notable Volcanogenic Massive
Sulphide (VMS) deposits, including the Cu-Pb-Zn-Ag-Au Golden Grove mine, and is also host to significant gold deposits such as Mt Gibson, Deflector, and Karara.

The tenement package is highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits. Historically, gold exploration in this area has been limited to early-stage activities, predominantly in the mid-1990s. 

Capricorn has identified four main target zones for exploration within the Mummaloo Project. The highest priority of these is located only 6 kilometres northeast of current Capricorn MGGP resources. 

 

 

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Capricorn Executive Chairman Mark Clark commented:

“The acquisition of the Mummaloo Project significantly expands Capricorn’s Mt Gibson exploration footprint and adds highly prospective targets analogous and proximal to the Company’s current Mt Gibson resources.

 

“This provides Capricorn with an outstanding exploration opportunity with a view to adding meaningful additional ore sources to the Mt Gibson operation.”

 

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Capricorn Metals

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To read our full terms and conditions, please click HERE

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Awalé Hits 2.5 g/t Gold Eq. over 34m at the BBM Zone

Awalé Resources (TSX.V: ARIC)

Reported results from the first two diamond drill holes completed as part of an expanded drill campaign targeting the BBM zone at the Odienné Project in the Ivory Coast.

 

 

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Awale Resources

 

 

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Awale Resources TSX.V : ARIC
Stage Exploration / Development
Metals Gold
Market cap C$41 m   @ 47 cents
Location Ivoey Coast, West Africa
Website https://awaleresources.ca

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Awalé Hits 2.5 g/t Gold Eq. over 34 Metres at the BBM Zone, Odienné Project

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Vancouver, British Columbia, January 29, 2025 — Awalé Resources Limited (TSX.V: ARIC)(“Awalé” or the “Company”) is pleased to report results from the first two diamond drill holes completed as part of an expanded drill campaign targeting the BBM zone at the Odienné Project in Côte d’Ivoire.

The drill program, which began in November 2024, is ongoing, with five holes remaining in the extended campaign. These initial holes were drilled within the previously reported central mineralized zone, where the Company is tightening drill spacing to a 100m grid (refer to drill plan and sections).

 

HIGHLIGHTS

  • 34m @ 2.5 grams per tonne (“g/t”) gold equivalent (“AuEq.”), including 12m @ 3.5 g/t AuEq. from 323m downhole in OEDD-104.
  • 29m @ 1.2 g/t AuEq., including 14m @ 1.8 g/t AuEq. from 82m downhole in OEDD-103.
  • Drilling continues to demonstrate excellent continuity over significant width and gold tenor at BBM.
  • With the success of drilling results, the Company has increased the drill program at BBM from 3000m to 7000m.
  • Drilling at Charger is progressing to plan, with drilling at Empire to follow suit.

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Andrew Chubb, CEO of Awalé Resources commented,

“We are excited to report additional excellent results from the BBM target, confirming the robust nature of mineralization at BBM.

 

“We are seeing a remarkable consistency in width and grade in this drilling, consistent with those previously reported in the core zone at BBM. These results underscore the potential of this zone.

 

We are also pleased to announce that the expanded step-out diamond drilling is near completion at BBM. This drilling is focused on expanding the 600m core zone along strike to the southeast and northwest where we believe there is potential to expand the size of BBM.

 

“The success of this program has led to an extension beyond the initial 3000m plan, with over 5400m now completed in 19 holes, with 4 holes to be drilled.

 

“The deployment of two diamond drill rigs has enabled us to not only advance BBM but also commence drilling at the Charger target.

 

“We are also bringing the Empire target back into the exploration pipeline as part of this program. In addition to these diamond drilling advancements, we are actively progressing with the IP geophysics program, with RC drilling set to commence in the coming weeks.

 

“This increased level of activity is expected to deliver a steady stream of results to the market throughout this quarter and beyond,” 

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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=======

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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=======

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This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Awale Resources.

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To read our full terms and conditions, please click HERE



Calibre Pours its One-Millionth Ounce of Gold in Nicaragua

Calibre Mining (TSX: CBX)

Announced a milestone, it has produced its one-millionth ounce of gold in Nicaragua since Q4 2019.

The company also announced a maiden Mineral Resource estimate for its Talavera Gold Deposit, located close to it’s Limon Mill, which includes 3,847,000 tonnes of Inferred Mineral Resource averaging 5.09 g/t Au, yielding 630,000 ounces of gold.

 

 

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Calibre Mining

 

 

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Calibre Mining TSX: CXB
Stage Production, development, exploration
Metals Gold
Market cap C$2.33 Billion @ C$2.66
Location Canada, Nicaragua, USA
Website www.calibremining.com

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Calibre Pours Its 1 Millionth Ounce of Gold in Nicaragua and Declares an Initial Mineral Resource at Talavera Located 3 Kilometres from the Limon Mill

 

 

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Calibre Mining (TSX: CBX) has announced a significant milestone, producing its one-millionth ounce of gold in Nicaragua since Q4 2019.

The company also revealed a maiden Mineral Resource estimate for its 100% owned Talavera Gold Deposit, which includes 3,847,000 tonnes of Inferred Mineral Resource averaging 5.09 g/t gold, yielding 630,000 ounces of gold.

Located just 3 kilometers from the Limon mill, Talavera has historically produced 800,000 ounces of gold. The company has successfully increased its Nicaragua Mineral Reserves from 140,000 ounces in Q4 2019 to more than 1.1 million ounces at December 31, 2023.

Recent drilling continues to intersect high-grade gold mineralization approximately 750 metres west of the past-producing Talavera underground mine, with the resource remaining open to the west.

For 2025, Calibre plans to focus on expansion and delineation drilling at Talavera while advancing environmental permits. The deposit’s steeply dipping structure and parallel gold-bearing zones make it suitable for low-cost, long-hole mining.

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,

.To read the full news release please click HERE

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The live gold price can be found HERE

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=======

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Calibre Mining

.

To read our full terms and conditions, please click HERE



West Red Lake Gold Has New Targets from Surface Sampling

West Red Lake Gold Mines  (TSX.V: WRLG) 

Announced positive results from the 2024 regional surface mapping and geochemical sampling program across its 100% owned Madsen Property located in the Red Lake Gold District of Northwestern Ontario, Canada.

 

 

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West Red Lake Gold Mines

 

 

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West Red Lake Gold TSX.V : WRLG
Stage Exploration / Development
Metals Gold
Market cap C$197 m   @ 62 cents
Location Ontario, Canada
Website www.westredlakegold.com

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West Red Lake Gold Highlights New Targets from Surface Sampling at Madsen

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West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSX.V: WRLG) (OTCQB: WRLGF) is pleased to announce positive results from the 2024 regional surface mapping and geochemical sampling program (the “Program”) across its 100% owned Madsen Property located in the Red Lake Gold District of Northwestern Ontario, Canada.

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HIGHLIGHTS:

  • The Program at Madsen was focused on the Confederation Assemblage of rocks, which has remained mostly unexplored until WRLG completed this first phase of work. The Confederation rocks are known to host significant gold mineralization in the Red Lake district, including Kinross Gold’s Great Bear Project, located approximately 24km southeast of Madsen.
  • The Program consisted of 1,460 till samples and 42 channel samples, as well as 69 representative lithologic samples collected to support the geological mapping program.
  • Six (6) anomalous areas were defined with a geochemical signature of Au-W-As-Ag-Bi (Figure 1), which is analogous to the geochemical signature of Madsen-style alteration and mineralization. The most compelling of these targets is the North Shore anomaly which has already demonstrated high prospectivity from limited drilling completed in 2024, as well as its spatial association to the Russet Lake Ultramafic (“RLUMAF”). The area beneath the strongest part of the anomaly has never been drilled and will be a top target for 2025.
  • Geologic resolution and understanding within the Confederation Assemblage was greatly enhanced through the detailed mapping program and will be a valuable dataset for advancing targets within this package of rocks.

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Will Robinson, Vice President of Exploration, stated,

“We are quite pleased with the results of our first ever regional surface exploration program across the Madsen property.

 

“The program was focused on the underexplored Confederation Assemblage and was successful in delineating a number of high-caliber geochemical anomalies that will warrant follow-up exploration work and possibly drilling in 2025.

 

“The grade and tenor of the surface anomalies defined within the Confederation rocks and their spatial association with the underlying geology is very encouraging and further reinforces our thesis that this mostly overlooked part of the property still presents excellent potential for discovery.

 

“Additionally, the till anomaly defined at the North Shore target within Balmer Assemblage rocks along the eastern margin of the Russet Lake Ultramafic fits our exploration model for this highly prospective corridor resulting in an exciting drill-ready target for 2025.”

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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=======

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in West Red Lake Gold Mines.

.

To read our full terms and conditions, please click HERE



Gold Road Announces Strong Outlook and Guidance for Gruyere in 2025

Gold Road Resources (ASX: GOR)

Presented 2025 annual guidance and an updated 3-Year production outlook for the Gruyere Gold Mine.

2025 annual guidance for Gruyere is 325,000 – 355,000 ounces (162,500 – 177,500
attributable) at an attributable AISC of between A$2,400 and A$2,600 per ounce.

 

 

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Gold Road Resources

 

 

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Gold Road ASX : GOR
Stage Production   (50% JV)
Metals Gold
Market cap A$2.62 Billion   @ A$2.41
Location Laverton, Western Australia
Website www.goldroad.com.au

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Gold Road Announces Strong Outlook and Guidance for Gruyere in 2025

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UNDERGROUND DRILLING COMMENCED

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Gold Road Resources Limited (ASX: GOR) (Gold Road or the Company) is pleased to present the 2025 annual guidance and an updated 3-Year production outlook for Gruyere.

The Gruyere JV is a 50:50 joint venture with Gruyere Mining Company Pty Ltd, a member of the Gold Fields Ltd Group (Gold Fields), which manages and operates the Gruyere Gold Mine.

Drilling has commenced to assess the potential for a future underground operation at Gruyere that could substantially increase mine life well beyond the current open pit Ore Reserve life to 2032.

 

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Highlights

2025 Annual Guidance

 2025 annual guidance for Gruyere is 325,000 – 355,000 ounces (162,500 – 177,500
attributable) at an attributable AISC of between A$2,400 and A$2,600 per ounce.
 The substantial increase in production follows the successful stripping down of the Stage 4 pit in 2024 to gain full access to the ore body. This enables the delivery of higher grade run-of-mine ore from the mine to the process plant.
 Annual AISC guidance includes cost inflation, higher gold related royalties (owing to higher gold sales revenue), the cost of conveyor upgrades and other plant improvements, a Tailings Dam lift, the cost of increased quantities of planned waste stripping to secure future production performance at Gruyere and a village expansion to accommodate the labour force required to carry out the increased material movement, as well as future accommodation needs for mining at the Golden Highway.

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3-Year Production Outlook

 Gruyere’s 3-Year production outlook ranges between 335,000 and 375,000 ounces per annum (100% basis).
 The increasing production is expected to be delivered by higher mill head grades and improving plant throughput rates, following the commissioning of a third pebble crusher in late 2023 and further upgrades to the processing plant circuit planned in 2025.
 The production outlook requires minimal growth capital but substantially benefits from the planned increased material movement rates.

 

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Underground Review and Drilling Commenced

 A preliminary review of potential underground mining was commissioned by the Gruyere JV and completed by SRK in late 2024. The review is based on an assumed extension of the ore body at depth and provides the Gruyere JV partners with the confidence to commence a major exploration program below the open pit in 2025.

The aim of the drilling program is to extend the resource to a depth of approximately 1,200 metres below surface, with infill drilling of the upper portions of the existing and potential underground resources planned to define an Indicated level Resource.

 Assuming successful outcomes of the 2025 exploration program, it is envisaged that exploration programs and studies will evaluate underground mining over several years with an objective of sustaining gold production beyond the current open pit reserve life which extends to 2032.

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Gruyere is guided to produce between 325,000 – 355,000 ounces (162,500 – 177,500 attributable) in 2025, a significant increase on the disrupted 2024 production.

The annualised increase in production will be achieved now that the mining fleet is in the position to access the entire ore body within the Stage 4 pit and, as a consequence, fill the process plant with higher grade ore.

Limited blending with lower grade oxide ore stockpiles is planned to optimise the performance of the milling circuit. Consequently, the average grade of the ore processed will be slightly below the average Ore Reserve grade.

Attributable AISC of between A$2,400 and A$2,600 per ounce includes all capital costs to sustain the operation.

There is no additional growth capital required to operate Gruyere in 2025.

Annual AISC guidance incorporates increased quantities of planned waste stripping during 2025. The increased waste stripping secures future production performance at Gruyere. A summary of the key components to the relative increase (year on year) in AISC is provided below:
 Current and anticipated inflationary adjustments to operating costs
 Increased royalty payments as a result of the higher gold price
 Increased annualised stripping rate to support future production at Gruyere
 Addition of ~200 rooms at the Gruyere Village, a one-off cost to support a larger workforce for the expanded mining fleet and provide future requirements for development of the Golden Highway.

 

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To read the full news release, please click HERE

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The live gold price can be found HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds  shares in Gold Road Resources

.

To read our full terms and conditions, please click HERE



G Mining Ventures Outlines Outlook for 2025

G Mining Ventures (TSX: GMIN)

Announced its 2025 operational and cost guidance for Tocantinzinho Gold Mine, along with planned capital expenditures to progress the Oko West Gold Project in Guyana and the Gurupi exploration Project in Brazil.

Planned production is between 175,000 and 200,000 ounces of gold at an AISC of US$996 to US$1125.

 

 

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G Mining Ventures TSX: GMIN
Stage Development + Exploration
Metals Gold
Market cap C$2.97 billion @ C$13.39
Location  Para State, Brazil, Guyana
Website www.gminingventures.com

 

 

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Comment

This is just the type of company I like to invest in.

There’s low cost and growing production, with a near term development project being funded through cashflow, and exploration ongoing in three different projects at the same time.

All this in tier 1 jurisdictions with a management team that have done all this before.

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G Mining Ventures Outlines Outlook for 2025

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BROSSARD, QC, Jan. 21, 2025 /CNW/ – G Mining Ventures Corp. (“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) announces its 2025 operational and cost guidance for Tocantinzinho Gold Mine (“TZ“), along with planned capital expenditures to progress the Oko West Gold Project (“Oko West“) in Guyana and the Gurupi exploration Project (“Gurupi“) in Brazil.

 

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Highlights

Production, unit cost and capital expenditure guidance for the full year 2025 are outlined in the table below.

 

All amounts are in USD unless stated otherwise.

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Figure 1: Full Year 2025 Operational and Cost Guidance

Operational & Cost Guidance

2025

Tocantinzinho Gold Mine

Gold Production

ounces

175,000 to 200,000

Total Cash Costs

$/oz Au sold

$590 to $655

All-in Sustaining Costs 1,2

$/oz Au sold

$995 to $1,125

Sustaining Capital Expenditures

Sustaining

M$

$35 to $45

Near-mine exploration

M$

$2

Capitalized Waste Stripping

M$

$23

Total Sustaining

M$

$60 to $70

Non-Sustaining Capital Expenditures

TZ Regional Exploration

M$

$9

Oko West Exploration

M$

$8

Oko West Project Development

M$

$200 to $240

Gurupi Project

M$

$2 to $4

Total Non-Sustaining

M$

$219 to $261

1.

See the non-IFRS financial measures section.

2.

Guidance assumes a realized gold price of $2,350 and BRL/USD of 5.25

 

 

 

 

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Louis-Pierre Gignac, President & Chief Executive Officer commented,

“We expect to build on GMIN’s 2024 operational success in the year ahead, as TZ ramps up throughput, reaching nameplate capacity early in the year, generating meaningful free cash flow to advance development activities at Oko West.

 

“TZ will remain our focus in 2025 but will be complemented by Oko West development initiatives, including permitting and early works activities.

 

“We plan to increase our investment in greenfield and brownfield exploration across our portfolio to uncover low-cost, high-value ounces.”

 

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Tocantinzinho Gold Mine

The Corporation is focused on ramping up production and controlling operating costs at TZ. Annual gold production at TZ is forecasted to range between 175,000 and 200,000 ounces. 

Gold output is anticipated to be higher in the second half of the year (56% of the total) as higher-grade mineralization becomes accessible according to the mine plan. 

In Q1 2025, we aim to complete the installation of an advanced process control system to enhance the efficiency of the grinding and flotation processes at the plant.

Cash Costs and All-in-Sustaining-Costs (“AISC“) are expected in the ranges of $590 and $655 per ounce sold and $995 and $1,125 per ounce sold, respectively.

Approximately 75% of costs are denominated in local currency.

Total sustaining capital expenditures for 2025 are projected at $60 to $70 million, which includes $23 million for capitalized stripping and $2 million for near-mine exploration.

Sustaining capital expenditures, excluding capitalized waste stripping, are estimated at $35 to $45 million. This includes $20 million for mining equipment, $10 million for major components of the mobile fleet, $4.5 million for tailings management, and additional minor expenditures related to the process plant and other capital items.

Regional exploration in the Tapajos within the mining concession and surrounding claims is classified as non-sustaining and excluded from AISC. A budget of $9 million is planned for 2025 to test 23 targets within a 5km radius with the primary goal to identify additional deposits.

.

To read the full news release, please click HERE

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The live gold price can be found HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in G Mining Ventures.

.

To read our full terms and conditions, please click HERE



Ora Banda Mining December Activities Report

Ora Banda Mining (ASX: OBM)

Reported on its activities for the December 2024 quarter – a period during which the Company demonstrated the robustness of its underground strategy with cashflow increasing over $9 million despite spending over $30 million on growth.

 

 

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Ora Banda Mining

 

 

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Ora Banda ASX: OBM
Stage Production + development
Metals Gold
Market cap A$1.3 Billion @ 70c
Location Western Australia
Website www.orabandamining.com.au

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December 2024 – ORA BANDA MINING QUARTERLY ACTIVITIES REPORT

 

 

Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to report on its activities for the December 2024 quarter – a period during which the Company demonstrated the robustness of its underground strategy with cashflow increasing over $9 million despite spending over $30 million on growth.

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Highlights

Cash builds to $57.8 million with Riverina Underground fully paid back
Investment of $30.8 million into growth projects and exploration continues ramp up to
150koz in FY26
Sand King Underground on target to deliver additional higher-grade feed as it advances
to steady state production in FY25

• No Lost Time Injuries
• Gold sold of 22,288oz, taking total first half FY25 gold sold to 47,824oz
• Gold production of 22,973oz with first half FY25 gold produced at 47,300oz
• Sand King Underground ramp up on track to deliver up to 21koz in a stronger second half of FY25
• Riverina Underground achieved payback in the quarter generating positive cash flows only 18 months after commencement. Riverina Underground mined grade continues to reconcile above forecast
• Davyhurst mill throughput increased 9% from the prior quarter to 280kt as upgrades take effect, more improvements are planned for the remainder of FY25
• AISC for the quarter was A$2,536/oz sold, inclusive of $116/oz of non-cash share-based payments and $183/oz relating to the treatment of higher-cost open pit stockpiles mined in prior periods which are now depleted
• Closing cash lifts to $57.8 million, a $9.1 million increase from the prior quarter, after incurring total capital, resource development and exploration expenditure of $30.8 million as follows:
o $20.8 million on Riverina & Sand King Underground development;
o $4.5 million on growth infrastructure; and
o $5.5 million on resource development & exploration activities.
• Available inventory on hand at quarter end totalled 7.5koz, including 3.3koz in GIC

 

Riverina Underground operation achieved payback of its capital investment within 18 months of the portal being established and the Sand King Underground operations intersected first ore just four months after the portal was established.

Riverina Underground operation continued to deliver physicals which are in line with the required run-rate to achieve FY25 production guidance. As development progresses, the establishment of more levels open will provide additional mining fronts and mining options as the year progresses.

Total ounces mined for the quarter were 22,187oz at 4.4g/t including low grade material. Overall mined grade of 5.3g/t continues to reconcile above the Ore Reserve grade of 4.2g/t with the highergrade lodes extending more than modelled.

The Sand King Underground mine achieved first development ore in December 2024 and remains on track to achieve first stoping ore in March 2025. The development ore will be batched through the Davyhurst mill commencing in February 2025.

This will be achieved 14 months after the first drill hole targeting underground mineralisation was completed.

The Davyhurst mill had a strong quarter, processing 280kt of ore at a head grade of 2.9g/t. Riverina medium and high grade (average 4.9g/t) comprised only 41% of the feed, with the low-grade open pit legacy stockpiles and low-grade Riverina ore (together averaging: 1.5g/t) filling the remainder of the mill capacity.

These low-grade feed sources are expected to be progressively replaced by
higher grade Sand King material in H2 FY25 and FY26.

 

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Ora Banda’s Managing Director, Luke Creagh, said:

“It is a testament to the quality of Riverina Underground that it has paid itself back in just 18 months and is now delivering strong cash flows which will self-fund Ora Banda’s production outlook towards 150koz in FY26.

 

“With Sand King Underground progressing on schedule, we have also reached an inflection point whereby the higher-grade feed from Sand King will progressively fill the Davyhurst mill, paving the way for production and cashflow to increase and costs to reduce.

 

“As the business strengthens and the results start to come through on our exploration programs, we will be in a position to rapidly advance any additional opportunities that exist in our portfolio”.

.

To read the full news release, please click HERE

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.

The live gold price can be found HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds  shares in Ora Banda MIning.

.

To read our full terms and conditions, please click HERE



Wesdome Gold Provides Eagle River Exploration Update

Wesdome Gold Mines (TSX:WDO)

Provided a comprehensive update on its exploration activities at its wholly-owned Eagle River Mine near Wawa, Ontario.

At the 300 Zone, infill drilling has confirmed the ontinuity of high-grade mineralization and provided critical geological insights regarding the zone’s behavior.

 

 

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Wesdome Gold Mines - Eagle River underground mine

Wesdome Gold Mines – Eagle River underground mine

 

 

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Wesdome Gold TSX : WDO
Stage Production, Development
Metals Gold
Market cap C2.2 B   @ C$14.18
Location Ontario and Quebec, Canada
Website www.wesdome.com

 

WESDOME GOLD MINES PROVIDES EAGLE RIVER EXPLORATION UPDATE;
2024 PROGRAM DELIVERS HIGH-GRADE EXTENSIONS AND NEW TARGETS

 

 

.
Toronto, Ontario – January 21, 2025 – Wesdome Gold Mines Ltd. (TSX:WDO, OTCQX:WDOFF) (“Wesdome” or the “Company”) today provides a comprehensive update on its exploration activities at its wholly-owned Eagle River Mine (“Eagle River”) near Wawa, Ontario.

 

 

.
Anthea Bath, President and Chief Executive Officer, stated,

 

“Eagle River delivered exceptional exploration results in 2024, reflecting the prospectivity of this high-grade asset and the strength of our team.

 

“With more than 105,000 metres of surface and underground drilling completed during the year, we successfully delineated and expanded key zones close to existing infrastructure, identified new targets and advanced our understanding of the geology.

 

“At the 6 Central Zone, increased drilling extended the resource envelope down-plunge by approximately 70%, or 250 metres and identified a parallel zone with strong potential for high-grade mineralization. Located near existing development and open down-plunge, the 6 Central zones offer the opportunity to establish a new mining front at intermediate depths.

 

“At the 300 Zone, which currently accounts for the majority of Eagle River’s reserves, infill drilling has confirmed the ontinuity of high-grade mineralization and provided critical geological insights regarding the zone’s behavior. 

 

 

“Furthermore, step-out drilling down-plunge targeting the northeast-dipping extension of the structure has successfully demonstrated continuity of mineralization, reinforcing the 300 Zone’s exploration and resource conversion potential.

 

“As part of the ongoing surface exploration program, an induced polarization survey completed late in the year identified multiple anomalies closely associated with known deposits, indicating potential for additional mineralization west of the diorite. These findings confirm the long-term potential at Eagle River and outline several targets for further exploration in the coming year.

 

“Exploration remains a top priority at Eagle River in 2025. The $13 million program covers an estimated 115,000 metres of underground and surface drilling, the completion of an additional geophysical IP survey, as well as extensive surface and structural mapping work.

 

“Additionally, we will continue to advance our global resource model initiative, which is expected to unlock economic mineralization close to surface primarily through the digitization of historic mining data, evaluation of alternative mining methods, and the use of incremental and break-even cut-off grade analysis.”

.

——-

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To read the full news release, please click HERE

 

To View Wesdome Gold Mine’s historical news, please click here

..

Live spot metal prices can be found HERE

.

=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in Wesdome Gold Mines.

.

To read our full terms and conditions, please click HERE

.

 



Capricorn Announce the Acquisition of Deadman Flat Project

Capricorn Metals  (ASX: CMM)

Has entered into an agreement with Peregrine Gold Ltd to acquire the prospective Deadman Flat Project tenements covering approximately 270 square kilometres located contiguous to the Company’s Karlawinda Gold Project tenure in the Pilbara region of Western Australia.

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,

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Capricorn Metals Karlawinda Mine

Capricorn Metals Karlawinda Mine

 

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Capricorn Metals ASX: CMM
Stage Production, development, exploration
Metals Gold
Market cap A$3.09 Billion  @A$7.50
Location Western Australia
Website www.capmetals.com.au

 

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CAPRICORN SIGNIFICANTLY EXPANDS KARLAWINDA PROJECT TENURE WITH THE ACQUISITION OF DEADMAN FLAT PROJECT

 

The board of Capricorn Metals Ltd (ASX: CMM) (“Capricorn” or “the Company”) is pleased to advise that it has entered into an agreement with Peregrine Gold Ltd (“Peregrine”) to acquire the prospective Deadman Flat Project tenements covering approximately 270 square kilometres located contiguous to the Company’s Karlawinda Gold Project (“KGP”) tenure in the Pilbara region of Western Australia.

The acquisition consolidates the Company’s holding of Pilbara Craton
greenstones in proximity to the highly prospective Pilbara – Yilgarn Craton margin.

The transaction consideration is $1.5 million, which Capricorn will settle through the issue to Peregrine of fully paid ordinary Capricorn shares upon completion.

Further consideration includes the grant of a 1% net smelter royalty on the sale of all precious minerals and a 1.5% net smelter royalty in respect to the sale of non-precious minerals extracted from the Deadman Flat Project area.

.

In addition, the Company has agreed to make contingent deferred payments as follows:

• $750,000 upon the announcement by Capricorn of a JORC compliant Mineral
Resource Estimate in excess of 200,000 ounces of gold on the Deadman Flat Project
tenements; and
• $750,000 upon the announcement by Capricorn of a board decision to commence a
stand-alone commercial mining operation on the Deadman Flat Project tenements
The share issue consideration will be valued at the 20-day VWAP prior to completion occurring.

Completion of the acquisition is expected in February 2025.

 

 

.
Capricorn Executive Chairman Mark Clark commented:

“The acquisition of the Deadman Flat Project expands the Karlawinda Gold Project exploration footprint and completes the consolidation of the highly prospective southern margin of the Sylvania Inlier, including tenements directly along the strike of the Company’s Central Zone prospect.

 

“This provides Capricorn with an outstanding exploration opportunity with a view to finding meaningful additional ore sources for the Karlawinda operation.”

 

.

To read the full news release please click HERE

.

The live Spot gold price can be found HERE

.

=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Capricorn Metals

.

To read our full terms and conditions, please click HERE

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Westgold Production lifts again in Q2, FY25

Westgold Resources (ASX / TSX: WGX )

Reported results for the period ending 31 December 2024 (Q2 FY25).

Westgold had record gold production in Q2 FY25 of 80,886oz Au @ AISC of A$2,703/oz with increased net mine cashflow of $45M funding the Company’s operational and growth capital requirements.

 

 

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Westgold

 

 

 

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Westgold ASX / TSX: WGX
Stage Production + development
Metals Gold
Market cap A$2.5 Billion @ A$2.64
Location Western Australia
Website www.westgold.com.au

 

 

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Westgold Production lifts again in Q2, FY25

 

,

Perth, Western Australia, 23 January 2025 – Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) is pleased to report results for the period ending 31 December 2024 (Q2 FY25).

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Record gold production in Q2 FY25 of 80,886oz Au @ AISC of A$2,703/oz with increased net mine cashflow of $45M funding the Company’s operational and growth capital requirements

 

EXPLORATION & RESOURCE DEVELOPMENT Seventeen drill rigs operating across portfolio

Bluebird-South Junction Resource and Reserve grown to 1.4Moz and 573Koz respectively

Starlight Mineral Resource grown by 91%, underpinning expansion plan for Fortnum

Impressive drill results from both the Murchison and Southern Goldfields:

■       68.00m at 5.48g/t Au in hole 24BLDD171 at South Junction

■       6.60m @ 41.84g/t Au in hole WF440N1-05AE at Beta Hunt Fletcher Zone

■       5.65m at 360.84 g/t Au in hole NF1120RD28 at Starlight

 

CORPORATE

Ore purchase agreement signed with New Murchison Gold – set to increase Murchison production in FY26

Balance sheet bolstered with additional A$200M corporate facility – providing Westgold access to a total of A$300M in corporate facilities without mandatory hedging.

Closing cash, bullion, and liquid investments at 31 December 2024 of $152M

 

Westgold remains 100% unhedged – offering full exposure to escalating gold price

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,

 

Westgold Managing Director and CEO Wayne Bramwell commented:

 

“Q2, FY25 was the first full quarter of Westgold stewardship of the Southern Goldfields assets.

 

“Outputs continue to lift with a record group gold production of 80,886oz – increasing net mine cash flows to $45M and funding the Company’s operational and growth capital requirements. Westgold also drew down $50M from the corporate facility during the period to balance the working capital requirements of our much larger business.

 

“The FY25 strategy is to systematically reconfigure the larger portfolio to generate higher levels of free cashflow with capital investment in critical mine infrastructure at Beta Hunt and Bluebird-South Junction, and resource development drilling key to achieving this.

 

“In the Southern Goldfields we have rapidly demonstrated the ability to lift mine outputs. We are investing for the next decade of operations at Beta Hunt with the key enablers to higher mine productivity including a clean mine water supply, upgrades to underground pumping, power, ventilation and facilities for our workforce. All of these projects are underway and on completion will set this mine up to consistently deliver >2Mtpa run rates during 2025.

 

“In the Murchison, we are steadily expanding the Bluebird-South Junction mine to lift outputs to 1-1.5Mtpa run rates in 2025, ultimately sustaining the Bluebird mill from a single source. A change in ground support methodology to support the expansion and transition to a larger transverse open stoping mining method slowed the progress of this ramp up in Q2, and with those changes now implemented, Bluebird-South Junction mine output is increasing again.

 

“Seventeen drill rigs are operational today. At South Junction, intersections such as 68.00m at 5.48g/t Au and 45.00m at 4.18g/t Au highlight the quality and thickness of the mineral endowment. At the Fletcher Zone, five rigs are operational, with highly encouraging results including 6.6m at 41.84g/t and 24.6m at 6.9g/t Au building our confidence in a third mining front.

 

Building a simpler, yet larger scale and more profitable business requires investment and time.

 

Six months on post-merger, Westgold now has the portfolio that can deliver increased levels of free cash flow. Our capital investments are focussed on higher mine productivity and lowering our all in sustaining costs with the Group’s Q4, FY25 exit run rate the measure of our success.”

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.

To read the full news release please click HERE

.

.To View Westgold’s historical news, please click here

.

The live gold price can be found HERE

.

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Westgold.

.

To read our full terms and conditions, please click HERE



Calidus Resources Delisted From the ASX

Calidus Resources

I have been notified by my broker that Calidus Resources has been delisted from the ASX effective the 17th January 2025.

 

 

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Calidus Resources

Calidus Resources commemorative coin

 

 

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Comment

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This is the first time I have suffered a total loss in an investment, although I have had quite a few painful losses over the years with junior exploration companies that have struggled to raise finance, or the price plummeted when liquidity dried up and some sold in desperation.

Calidus executed their mine startup perfectly, on time and under budget, and this made me believe that they were going to execute the startup in the same fashion.

When it became obvious they had not, they were honest about it, explained the reasons why, and the actions they were taking to resolve the issues. This was basically calling in professionals to identify the deficiencies and train staff to overcome them.

This retained my belief in management, even when they did a discounted financing that I realise now was the red flag I should have taken as a sign to exit the investment, or at least reduce until the situation was clearer.

When it appeared they had overcome the issues, and after the discounted placing they did, I used the opportunity to average down my investment because I expected management to finally deliver.

In hindsight I should have waited for better news to arrive before increasing my holding.

The decision to call in the receivers was a bolt out of the blue, and perhaps had I been in Australia and more local to their investment discussion scene there may have been some clues, but being so remote means it’s harder to hear about potential issues.

This came as a shock, after so many years in investing I thought I was experienced enought to identify the warning signs, but this is clearly a wake up call.

In reality all one can do is manage investment sizes within one’s portfolio to ensure that, if a loss such as this occurs, it’s only a small part of the total portfolio. I always do this, and was the case here for me.

I think this is a total loss, although the notice below refers to shares transferring to my Trading Account, I don’t think this is going to happen. I will email the company and ask the question, but I think this is a total loss.

The official notice is below.

 

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.Stock   –   CALIDUS RESOURCES NPV

Event Type   De-Listing

Description   Delisting

Effective date: 17th January 2025
Market affected: Australian Securities Exchange

Please be informed that Calidus Resources Limited has cancelled its listing of NPV shares from trading on the Australian Securities Exchange. This became effective on 17th January 2025.

Unless the situation changes, on 17th February 2025 Calidus Resources Limited shares are expected to become ineligible to be held within an ISA under HMRC rules.

If the shares are still held within the ISA account after the above date, we will endeavour to move the shares to a linked trading account, opening one on your behalf if you do not already have one. Where that is not possible, we may attempt to withdraw the shares into certificate form, reregistering them into your own name.

The above is not applicable if you hold the shares within a Junior ISA account, as it is not possible to take shares out of the account. As such if you hold these shares in a Junior ISA they will remain on the account.

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.

 

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds (delisted) shares in Calidus Resources

.

To read our full terms and conditions, please click HERE

.

 



West Red Lake Gold Intersects 45.70 g/t Au over 3.85m

West Red Lake Gold (TSX.V: WRLG)

Reported definition drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

Hole MM24D-02-4090-010Intersected 3.85m @ 45.70 g/t Au, from 14.00m to 17.85m.

 

 

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West Red Lake Gold Mines

 

 

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West Red Lake Gold TSX.V : WRLG
Stage Exploration / Development
Metals Gold
Market cap C$197 m   @ 62 cents
Location Ontario, Canada
Website www.westredlakegold.com

 

 

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West Red Lake Gold Intersects 45.70 g/t Au over 3.85m, 50.99 g/t Au over 3m and 8.75 g/t Au over 16m at McVeigh – Madsen Mine

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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF) is pleased to report definition drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

The drill results featured in this news release are focused on the high-grade McVeigh Zone. The McVeigh Zone currently contains an Indicated mineral resource of 79,800 oz grading 6.4 g/t Au, with an additional Inferred resource of 14,300 oz grading 6.9 g/t Au.

These results follow-up on the significant intercepts previously announced on August 12, 2024 and August 27, 2024 from McVeigh – where drilling highlights included 106.99 g/t Au over 2.35 meters (“m”) and 17.77 g/t Au over 5.5 m, respectively.

The purpose of this drilling was definition within priority areas of McVeigh to continue building an inventory of high-confidence ounces to support the restart of production at the Madsen Mine, which is expected to commence in 2025.

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MCVEIGH ZONE HIGHLIGHTS:

  • HoleMM24D-02-4090-010 Intersected 3.85m @ 45.70 g/t Au, from 14.00m to 17.85m, Including 0.85m @ 127.27 g/t Au, from 17.00m to 17.85m; And 1.55m @ 44.89 g/t Au, from 22.45m to 24.00m.
  • Hole MM24D-02-4090-015 Intersected 3m @ 50.99 g/t Au, from 14m to 17m, Including 1m @ 141.53 g/t Au, from 15m to 16m.
  • HoleMM24D-02-4090-016 Intersected 7m @ 6.50 g/t Au, from 37m to 44m, Including 1m @ 31.57 g/t Au, from 39m to 40m.

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.

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Shane Williams, President & CEO, stated,

“As the site operational team advances test mining and stockpiles the bulk sample, the two underground drills continue to turn and continue to intercept broad zones of high-grade gold mineralization.

 

“The McVeigh zone is a shallow and easily accessible portion of the Madsen deposit and will be a key focus area during early phases of mining.

 

“The tight spaced drilling we are completing at McVeigh coupled with our enhanced geologic model and understanding of the structural controls will enable the engineering team to produce a very robust and high confidence mine plan that will reduce both external and internal dilution during mining.”

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in West Red Lake Gold Mines.

.

To read our full terms and conditions, please click HERE



American Creek’s JV Partner Tudor Gold Intensifies Exploration Efforts

American Creek (TSX.V: AMK)

Announced that project operator and JV partner Tudor Gold has initiated the permitting process for the construction of approximately 3,000 meters of underground development to provide an exploration ramp for targeting the Supercell One Zone with infill and expansion drilling.

 

 

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American Creek Treaty Creek map

American Creek Resources – Treaty Creek

 

 

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American Creek TSX.v : AMK
Stage Exploration
Metals Gold
Market cap C$107 m   @ 24c
Location Golden Triangle, B.C.
Website www.americancreek.com
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Comment

We have still not heard anything more regarding the crypto token acquistion of AMK by Cunningham Mining since the last announcement postponing the transaction date to the 31st January 2025.

I suspect this is not going to happen, despite the involvement of Sprott in the financing.

The share price is pulling backwards which indicates others don’t believe the transaction will happen either.

As a reminder, the acquisition price is 43 cents, and the price is currenlty just over half that, at 24 cents.

.

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.

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American Creek’s JV Partner Tudor Gold Intensifies Exploration Efforts by Initiating Permitting for Construction of Underground Exploration Infrastructure to Expand and Complete Drilling of Supercell One Zone at Treaty Creek, Golden Triangle of British Columbia

.

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Cardston, Alberta–(Newsfile Corp. – January 14, 2025) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation” or “American Creek”) is pleased to announce that project operator and JV partner Tudor Gold (“Tudor”) has initiated the permitting process for the construction of approximately 3,000 meters of underground development to provide an exploration ramp for targeting the Supercell One Zone (SC-1) with infill and expansion drilling, at the flagship Treaty Creek Project, located in the heart of the Golden Triangle of Northwestern British Columbia.

 

 

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Ken Konkin P.Geo, President & CEO of Tudor Gold commented,

“We are excited to move forward with plans to explore the high-grade underground Supercell One targets at the Treaty Creek Property through the construction of an underground exploration drift.

 

“This initiative is expected to substantially reduce both the cost and time required to drill and define the Supercell One Zone by utilizing underground drilling stations compared to conventional surface drilling.

 

“In addition to assisting the exploration goals, once completed, management believes that the underground infrastructure should provide long-term benefits to the project, potentially serving as a Fresh Air Raise or Return Air Raise to support future production mining of the high-grade Supercell One Zone and/or the CS600 Zone.

 

“Additionally, the underground development will be important in the selection of optimum material required for a 10,000-tonne test for a pilot process which would be required for a Feasibility Study.

 

“The advantages of driving an exploration development ramp are significant and this initiative is expected to bring substantial value to our Project.”

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To read the full news release please click HERE

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The live gold price can be found HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in American Creek

.

To read our full terms and conditions, please click HERE



Orla Mining Achieves Record Annual Gold Production

 Orla Mining (TSX: OLA; NYSE: ORLA)

Provided an operational update for the fourth quarter and year ended December 31, 2024, as well as preliminary 2025 guidance.

The Company produced 26,531 ounces of gold in Q4, bringing total annual gold production for 2024 to 136,748 ounces. Orla achieved its already improved 2024 production guidance range of 130,000 to 140,000 ounces, representing a 19% beat.

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Orla Mining Camino Rojo plant

Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant

 

 

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Orla Mining TSX : OLA
Stage Development
Metals Gold
Market cap C$2.6 billion   @ C$8.08
Location Mexico + Nevada + Canada + Panama
Website www.orlamining.com

 

Orla Mining Achieves Record Annual Gold Production, Meets Improved 2024 Production Guidance, and Announces Preliminary 2025 Guidance

 

,

Vancouver, BC – January 16, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an operational update for the fourth quarter and year ended December 31, 2024, as well as preliminary 2025 guidance.

The Company produced 26,531 ounces of gold in the fourth quarter, bringing total annual gold production for 2024 to 136,748 ounces.

As a result, the Company achieved its improved full-year 2024 production guidance range of 130,000 to 140,000 ounces, representing a 19% beat to the mid-point of its initial production 2024 guidance of 110,000 to 120,000 ounces.

As a result of this increased production the Company anticipates full year 2024 all-in sustaining cost[1] (AISC) to be at the low end of the improved guidance range of $800 to $900 per ounce of gold sold.

Complete financial and operating results for the fourth quarter and full year 2024 are expected to be provided on March 18, 2025.

/

(All amounts expressed in millions of US dollars, as at December 31, 2024 and are unaudited)

Fourth Quarter and Year End 2024 Camino Rojo Oxide Mine Operational Update

Camino Rojo maintained higher mining rates during the fourth quarter as a result of the mine pit redesign to ensure steady production through 2024 and 2025.

The strip ratio was 1.54 for the quarter and 1.12 for the full year. Gold production in the fourth quarter totaled 26,531 ounces, in line with the plan.

An additional 4,100 ounces of gold remained in the refinery inventory as concentrate at year end due to the pour schedule and has been poured and shipped in January. Full year gold production achieved a record 136,748 ounces due to higher than planned tonnes stacked, higher grade processed, and higher recoveries due to finer crusher product size..

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Liquidity Position

During the fourth quarter 2024, the Company repaid the entirety of the outstanding balance of $58.4 million under its revolving credit facility, taking the Company to a debt free position. At December 31, 2024, Orla’s cash position was $160.8 million. 

2025 Guidance Summary (Preliminary)

This preliminary guidance does not reflect the benefits of the Company’s acquisition of the Musselwhite Mine from Newmont Corporation, announced on November 18, 2024, which is anticipated to close in the first quarter of 2025.

Updated 2025 guidance, including the Musselwhite Mine and corporate G&A will be provided following the transaction’s closing. this news release for additional information.

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Camino Rojo (Mexico)

In 2025, Camino Rojo expects to mine approximately 20 million tonnes, placing about 7 million tonnes of ore on the heap leach pad, stockpiling just over 1 million tonnes of low-grade ore.

In the first half of 2025, stacking will primarily consist of oxide ore, resulting in higher gold recovery rates.

The stacked ore blend will shift in the second half of 2025 which will see the stacking of more transition ore resulting in slightly lower gold recovery rates.

Total gross operating costs in 2025 are expected to be in line with 2024 but slightly lower gold production in 2025 is expected to result in higher cash costs and AISC per ounce.

Despite this, Camino Rojo’s first quartile costs are expected to continue to deliver strong cash margins. Sustaining capital in 2025 is mostly related to capitalized waste movement and completion of the live ore stockpile dome.

Exploration efforts in Mexico for 2025 are focused on advancing Zone 22 (Camino Rojo Extension) to an indicated mineral resource classification, as well as testing regional drill targets for new discoveries.

The Company plans to spend $16 million to conduct 22,000 metres of drilling in Mexico during the year.

In addition, the Company is advancing an initial underground resource estimate for the Camino Rojo Sulphides, which is expected to be released in the first half of the year.

Following this, additional studies will be undertaken to support a Preliminary Economic Assessment (PEA) for the Camino Rojo Sulphides.

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South Carlin Complex (Nevada)

In 2025, the Company is focused on advancing permitting and project development on the South Railroad Project, part of the larger South Carlin Complex. The Company intends to allocate $12 million toward project development expenses in 2025 at South Carlin Complex.

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Fourth Quarter 2024 Conference Call

Orla will host a conference call on Wednesday March 19, 2025, at 15:00 UK time, to provide a corporate update following the release of its financial and operating results for the fourth quarter 2024:

Dial-In Numbers / Webcast:

USA / International Toll:         +1 (646) 307-1952

Canada – Toll-Free:                +1 (888) 672-2415

Conference ID:                       6451818

Webcast:                     https://orlamining.com/investors/   

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The live gold price can be found HERE

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=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Orla Mining.

.

 



Meeka Metals Announce High-Grade Gold at Turnberry

Meeka Metals (ASX: MEK)

Reported further high-grade assays from ongoing drilling at Turnberry, ahead of mining in the March 2025 quarter.

Highlights included 10m @ 15.71g/t Au from 114m including 1m @ 34.70g/t Au and 1m @ 113.00g/t Au and 10m @ 9.81g/t Au from 130m which ended in mineralisation.

 

 

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Meeka Metals

 

 

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Meeka Metals ASX: MEK
Stage Development, exploration
Metals Gold
Market cap A$248m   @  A$0.97
Location Near Kalgoorlie, Western Australia
Website https://meekametals.com.au

 

ASX Announcement
16 January 2025

 

Meeka Metals Limited (ASX: MEK) (“Meeka” or the “Company”) is pleased to report further high-grade assays from ongoing drilling at Turnberry, ahead of mining in the March 2025 quarter.

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New results from Turnberry include:
• 10m @ 15.71g/t Au from 114m including 1m @ 34.70g/t Au and 1m @ 113.00g/t Au
(24TBGC053)
• 10m @ 9.81g/t Au from 130m including 1m @ 86.50g/t Au (24TBGC038) – hole
ends in mineralisation
• 13m @ 6.76g/t Au from 42m including 1m @ 10.10g/t Au and 1m @ 70.80g/t Au
(24TBGC034)

10m @ 15.71g/t Au – High-Grade Gold Continues at the Murchison
Drilling at Turnberry, part of the Murchison Gold Project (“Murchison”),
continues to intersect thick zones of high-grade gold, including a new gold
zone below the Stage 1 open pit.

RC drilling is ongoing at the Murchison where new results from Turnberry
include:

o 10m @ 15.71g/t Au from 114m including 1m @ 34.70g/t Au and
1m @ 113.00g/t Au (24TBGC053)
o 10m @ 9.81g/t Au from 130m including 1m @ 86.50g/t Au (24TBGC038) –
hole ends in mineralisation
o 13m @ 6.76g/t Au from 42m including 1m @ 10.10g/t Au and 1m @ 70.80g/t
Au (24TBGC034)

• Holes 24TBGC0034, 48, 53 and 64 were extended beyond the open pit shell and
have intersected a new gold zone on the western side of Turnberry South.
• Assays have now been received for 78 of the 145 holes drilled to December 2024

RC drilling will continue through the March 2025 quarter at both Turnberry and
St Anne’s.

 

 

.
Commenting on the drilling, Meeka’s Managing Director Tim Davidson said:

“It is pleasing to see thick zones of consistent, high-grade gold at Turnberry following the bonanza gold grades, exceeding two ounces per tonne, that we reported at St Anne’s last week.

 

“The results continue to highlight the strong production these open pits will deliver in the coming months as we commence mining.

 

“We are also starting to see a new gold zone, with grades over an ounce per tonne, outside and to the west of the Stage 1 Turnberry South open pit. A total of 4 holes reported in this release intersected this new western zone.

“Further assays are expected in January 2025 from the remaining 67 holes drilled during the December 2024 quarter.

 

“Drilling remains ongoing and results from 2025 drilling are expected in the March 2025 quarter.”

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To read the full news release, please click HERE

 

The live Spot gold price can be found HERE

.

=======

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Meeka Metals. 

.

To read our full terms and conditions, please click HERE

.

 

 



Meeka Metals – Initiating Coverage

Meeka Metals (ASX: MEK)

City Investors Circle are initiating coverage of Meeka Metals, as soon to be in production gold producer located near Meekathara in Western australia.

Meeka are restarting a former producing gold mine, and exploring the region to add more ounces to increase the current 10 year life of mine.

 

 

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Meeka Metals

 

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Meeka Metals ASX: MEK
Stage Development, exploration
Metals Gold
Market cap A$248m   @  A$0.97
Location Near Kalgoorlie, Western Australia
Website https://meekametals.com.au

 

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Meeka Metals Stock Profile
Shares Ourstanding 2,375 billion
Options 138 million
Fully diluted  2,613 billion
Cash A$ 55 million
Debt NIL

 

 

Meeka Metals – Initiating coverage

 

Meeka Metals (ASX: MEK) have all the ingredients I personally look for in a company I am consodering investing in.

  • Tier 1 Jurisdiction  ✔
  • Experienced management  ✔
  • Zero Hedging  ✔
  • Zero Debt  ✔
  • Funded to Production  ✔
  • Imminent production (mid 2025)  ✔
  • Management ownership >5% ✔
  • Large institutional ownership (40%)  ✔
  • Fully Permitted ✔
  • Infrastructure in place  ✔

    Meeka is never going to be a huge gold producer, but at the current gold price the economics and cashflow look good, and there is plenty of exploration potential in a prolific gold belt.

    Neighbours include Catalyst’s Plutonic Mine and and Westgold’s Meekathara.

     

    .

    Meeka Metals Limited (ASX:MEK) is an Australian listed company that explores and develops gold deposits in Western Australia. 

    It has an experienced management team that have a history of creating shareholder value in Western Australia, and elsewhere.

    The company’s main project is the Murchison Gold Project, at Meekathara, Western Australia.

    Meeka is currently expanding the plant to increase throughput before commencing mining. The expansion is low capex and easy engineering.

    The company are planning to restart two open pits and an underground operation to produce on average around 65,000 ounces of gold PA at an AISC of around A$1,950 (current gold price is A$4,388).

    Open pit mining is scheduled to commence on the 1st March 2025.

     

    A recent company presentation can be found HERE

     

    The live Spot gold price can be found HERE

    .

    =======

    City Investors Circle is based in the financial district in the City of London

    We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

    Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

    Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

    We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

    If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

    .

    =======

    ,

    This website is not sponsored, we are truly independent, and will always remain so

    Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

    All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

    These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

    .

    Disclosure

    At the time of writing the author holds shares in Meeka Metals. 

    .

    To read our full terms and conditions, please click HERE

    .

     

     



    Orla’s Proxy Advises Shareholders to Vote for the Musselwhite Acquisition

    Orla Mining (TSX: OLA; NYSE: ORLA)

    Announced that the two leading independent proxy advisory firms have each recommended that Orla’s shareholders vote FOR the resolution to approve the Company’s proposed acquisition of the Musselwhite Minefrom Newmont Corporation.

     

     

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    Leading Independent Proxy Advisory Firms Recommend Orla’s Shareholders Vote for the Proposed Acquisition of Musselwhite Mine from Newmont Corporation

    Vancouver, BC – January 9, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that the two leading independent proxy advisory firms have each recommended that Orla’s shareholders vote FOR the resolution to approve the Company’s proposed acquisition of the Musselwhite Mine (the “Transaction”) from Newmont Corporation (“Newmont”).

    The proxy advisory firms also recommended voting FOR a resolution to approve a concurrent private placement of convertible notes and common share purchase warrants to Pierre Lassonde and Fairfax Financial Holdings Limited.

    The net proceeds from the private placement will be used to fund a portion of the purchase price of the Transaction (the “Concurrent Private Placement”).

    .

    Your Vote is Important

    • The deadline for voting your shares by proxy is 8:00 a.m. (Vancouver time) on Friday January 17, 2025.
    • Your vote is important no matter how many shares you own. Vote today!
    • Shareholders who have questions or need assistance with voting their shares should contact Orla’s proxy solicitation agent, Laurel Hill Advisory Group, by telephone at 1-877-452-7184 or by email at assistance@laurelhill.com. 

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    .

    Orla’s Special Meeting of Shareholders

    A special meeting of shareholders of the Company will be held on January 21, 2025, at 15.00 UK time,  (8:00 a.m. Vancouver time),  at Suite 3500 -1133 Melville Street, Vancouver, British Columbia, V6E 4E5, to consider the Transaction and Concurrent Private Placement.

    .

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    Recommendations of Orla’s Board of Directors 

    Orla’s Board of Directors (excluding Scott Langley, Newmont’s representative on the Board), having considered all factors it has deemed to be necessary to be considered, unanimously recommends Orla’s shareholders vote FOR the resolutions approving the Transaction and the Concurrent Private Placement.

     

    Shareholders are encouraged to read the Company’s management information circular dated December 9, 2024, and vote their shares as soon as possible.

    The management information circular is available on SEDAR+ and EDGAR under the Company’s profile at www.sedarplus.ca and www.sec.gov, respectively, as well as the Company’s website at www.orlamining.com/investors/musselwhite-special-meeting.

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    .

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    The live gold price can be found HERE

    .

    =======

    .

    City Investors Circle is based in the financial district in the City of London

    We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

    Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

    Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

    We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

    If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

    .

    =======

    ,

    This website is not sponsored, we are truly independent, and will always remain so

    Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

    All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

    These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

    .

    Disclosure

    At the time of writing the author holds shares in Orla Mining.

    .



     Westgold Group Production Lifts in Q2 FY25

    Westgold Resources (ASX / TSX: WGX)

    Provided preliminary production results for Q2, FY25, where Westgold produced 80,886 oz of gold (up from 77,369 oz in Q1, FY25.

    Total production for the first half was 158,255 oz with production expected to further increase in H2, FY25, consistent with guidance.

     

     

    .

    Westgold

    Westgold – Bluebird Spouth Junction

     

     

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    Westgold ASX / TSX: WGX
    Stage Production + development
    Metals Gold
    Market cap A$2.5 Billion @ A$2.64
    Location Western Australia
    Website www.westgold.com.au

     

     

    .

     Westgold Group Production Lifts in Q2 FY25

     

     

    Perth, Western Australia, 9 January 2025: Westgold Resources Limited (ASX/TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to provide preliminary production results for Q2, FY25.

    Since merging with Karora Resources in August 2024, Westgold continues to invest in the expanded business and increase quarter on quarter gold production.

    In Q2, FY25, Westgold produced 80,886 oz of gold (up from 77,369 oz in Q1, FY25.

    Total production for the first half was 158,255 oz with production expected to further increase in H2, FY25, consistent with guidance.

    Ramp up at both the Bluebird and Beta-Hunt underground mines continues.

    At Bluebird-South Junction, efforts were focussed on increasing grade and consistency of mine production, while a modified ground support regime was implemented.

    At Beta Hunt mine infrastructure upgrades critical to increasing mine outputs (including water, power reticulation and ventilation circuits) are being implemented and are due for completion at the end of Q3, FY25.

    Development at the Great Fingall mine near Cue remains on track, with first ore anticipated in Q4, FY25. 

    Westgold’s quarterly gold production (koz) As of 31 December 2024, the Company’s cash, bullion and liquid investments was $152M and together with $250M undrawn from its $300M Corporate Facility, the Company had financial liquidity of $402M at hand.

    Q2, FY25 operational and cost details will be available in the full December 2024 Quarterly Report to be issued on 30 January 2025.

     

     

    .

    Westgold Managing Director and CEO Wayne Bramwell commented:

     

    “Q2, FY25 saw Westgold continue to optimise its expanded, post-merger business. Production increased whilst we continued to heavily invest in the long-term capacity of our mines in the Murchison and Southern Goldfields.

     

    “Investment to support increased and sustainable production from our principal mines was the key focus of our activities over H1, with multiple growth projects advancing in parallel across the expanded group.

     

    “Bluebird-South Junction and Beta Hunt are our key drivers of growth in H2, FY25 with operational changes being implemented to see outputs lift and become more consistent into H2, FY25.

     

    “In addition, the Great Fingall Mine is scheduled to begin production in late Q4, FY25.

     

    “To drive our long-term cost base down, plant expansion studies at Higginsville, Bluebird and Fortnum are advancing with initial capital estimates to be reported shortly.

     

    “To extend mine lives, our underground drilling fleet is fully deployed across the group and surface drill contractors are active at Peak Hill and Higginsville.

     

    “All these elements are beginning to coalesce with the stage now set for Westgold to demonstrate the enhanced capability of our expanded asset base during H2, FY25.” 

    .

    To read the full news release please click HERE

    .

    .To View Westgold’s historical news, please click here

    .

    The live gold price can be found HERE

    .

    =======

    .

    City Investors Circle is based in the financial district in the City of London

    We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

    Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

    Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

    We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

    If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

    .

    =======

    ,

    This website is not sponsored, we are truly independent, and will always remain so

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    Calibre Delivers Record Q4 Gold Production of 76,269 Ounces

    Calibre Mining Corp. (TSX: CXB)

    Announced operating results for Q4 and year ended December 31, 2024, an update on the Valentine Gold Mine, located in Newfoundland & Labrador, Canada and initial 2025 guidance.

    Record consolidated Q4 gold production of 76,269 ounces; Nicaragua 66,578 ounces and Nevada 9,691 ounces.

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    Calibre Mining

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    Calibre Mining TSX: CXB
    Stage Production, development, exploration
    Metals Gold
    Market cap C$1.98 Billion @ C$2.37
    Location Canada, Nicaragua, USA
    Website www.calibremining.com

     

    Calibre Delivers Record Q4 Gold Production of 76,269 Ounces; 2025 Gold Production Expected to Significantly Increase as Valentine Gold Mine, Canada Remains on Track for First Gold During Q2, 2025

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    VANCOUVER, British Columbia, Jan. 08, 2025 (GLOBE NEWSWIRE) —Calibre Mining Corp.(TSX: CXB; OTCQX: CXBMF) (the “Company” or “Calibre”) is pleased to announce operating results for the three months (“Q4”) and year ended (“Full Year”) December 31, 2024, an update on the Valentine Gold Mine (“Valentine”), located in Newfoundland & Labrador, Canada and initial 2025 guidance. All figures are expressed in U.S. dollars unless otherwise stated.

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    Q4 & Full Year 2024 Production Results and Exploration Highlights

    • Record consolidated Q4 gold production of 76,269 ounces; Nicaragua 66,578 ounces and Nevada 9,691 ounces;
    • Consolidated Full Year gold production of 242,487 ounces, exceeding updated 2024 guidance (230,000 – 240,000 ounces); Nicaragua 207,220 ounces and Nevada 35,267 ounces;
    • Q4 delivered the strongest production of the year, setting a solid foundation for a promising start to 2025;
    • Cash $186.7 million ($131.1 million in cash and $55.6 million in restricted cash);

     

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    Valentine Remains on Track for Q2, 2025 Gold Production

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    Executive Officer of Calibre, stated:

    “Calibre achieved total gold production of 242,487 ounces in 2024. After addressing challenges in the third quarter, we delivered an exceptional fourth quarter, producing a record 76,269 ounces.

    “Looking ahead, 2025 is shaping up to be a transformational year for Calibre with first gold production from Valentine on schedule for Q2. With Valentine fully operational, Calibre transitions into a robust, multi-asset, diversified mid-tier gold producer.

    “Valentine is poised to become a long-life, cornerstone asset in Canada, initially delivering approximately 200,000 ounces of gold annually with significant exploration upside.

    “We have made substantial progress on technical studies to increase Valentine’s throughput in a phase two expansion. While the original design envisioned an increase in throughput from the currently planned 2.5 million tonnes per year to 4 million tonnes per year starting in 2029, we are now actively advancing plans to accelerate the timeline for scaling up production to as much as 5.4 million tonnes per year.

    “In 2025, we will focus on detailed engineering and schedule with the intent of committing to long lead time items before year end.

    “Considering these developments, Valentine has the potential to exceed the production levels outlined in the 2022 feasibility study, especially given the promising results emerging from our ongoing exploration efforts. This positions Calibre for substantial growth and value creation in the coming months and years.

    As previously announced, our exploration investment at Valentine has delivered very exciting results. November’s discovery of broad widths of gold mineralization outside mineral resources at the Frank Zone, approximately 1 km south of the Valentine Gold Mine demonstrates the upside potential.

    “Results included 2.43 g/t gold over 172.8 metres including 3.84 g/t gold over 90.9 metres, 2.12 g/t gold over 95.4 metres and 2.26 g/t gold over 78.3 metres from the initial discovery.

    “Our 2024 drilling program wrapped up in mid December, and we anticipate providing additional results surrounding the Frank Zone discovery as assays become available.

    “Exploration is ramping up and as construction activity progresses to completion, we expect to add drills to increase the Valentine exploration activity throughout the year. In 2025, we expect to execute the largest annual exploration drill program in the property’s history.

    “The geologic setting at Valentine is similar to the prolific Val d’Or and Timmins camps in the Abitibi gold belt. This, in combination with the significant prospectivity of the 32-kilometre Valentine Lake Shear Zone (“VLSZ”), I am confident that we will continue to deliver strong exploration results, unlocking the potential of this highly prospective region.

    “Additionally, we are very encouraged by the continued exploration success across our assets in Nicaragua. During 2024, we announced numerous high-grade results from the Talavera Gold Zone and the VTEM Gold Corridor within the Limon Mine Complex demonstrating the exceptional potential for rapid resource growth.

    “During 2025, I anticipate additional success as we expand our exploration efforts and again advance a multi-rig 100,000 metre drill program.”

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    .To read the full news release please click HERE

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    The live gold price can be found HERE

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    City Investors Circle is based in the financial district in the City of London

    We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

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    Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

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    If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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    This website is not sponsored, we are truly independent, and will always remain so.

    Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

    All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

    These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

    .

    Disclosure

    At the time of writing the author holds shares in Calibre Mining

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