Cabral Gold (TSX.V: CBR)

Announced drill results from fifteen initial reconnaissance RC holes drilled at the Machichie West target within the Cuiú Cuiú gold district.

The highlight was hole RC439 returned 10m @ 3.00 g/t gold from 11m depth in weathered saprolite including 5m @ 5.37 g/t gold from 13m depth.

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Cabral Gold Drills 10m @ 3 g/t Gold at the Machichie West Target, Cuiú Cuiú Gold District, Brazil

17th July 2024

Westgold Resources (ASX: WGX)

Updated in relation to the proposal to acquire 100% of the issued and outstanding common shares of Karora Resources Inc. by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

On 17 July 2024, Westgold received written confirmation from the FIRB that the AustralianGovernment has no objection to the Transaction under the Foreign Acquisitions and Takeovers Act 1975.

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FIRB Approval Received for Westgold and Karora Transaction

Westgold Resources Limited (ASX: WGX, OTCQX: WGXRF – Westgold or the Company) provides the following update in relation to the proposal to acquire 100% of the issued and outstanding common shares of Karora Resources Inc. (Karora) by way of a court-approved plan of arrangement under the Canada Business Corporations Act (Transaction).

On 17 July 2024, Westgold received written confirmation from the Foreign Investment Review Board (FIRB) that the Australian Commonwealth Government has no objection to the Transaction under the Foreign Acquisitions and Takeovers Act 1975 (Cth).

The FIRB approval condition contained in the definitive Arrangement Agreement between Westgold and Karora in respect of the Transaction has now been satisfied.

Pending approval by Karora shareholders at Karora’s upcoming annual general and special meeting of shareholders on 19 July 2024 and final court orders, Westgold targets completion of the Transaction on or about 31 July 2024.

The Transaction has been unanimously approved by the respective boards of directors of Westgold and Karora.

The Karora board of directors (Karora Board) has unanimously determined that the Transaction is in the best interests of Karora and is fair to Karora shareholders.

Accordingly, Westgold’s offer to acquire Karora pursuant to the Transaction is unanimously recommended by the Karora Board. All directors and senior officers of Karora entered into agreements with Westgold to vote in favour of the Transaction.

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Indicative Timetable

Event / Action Indicative Timing (Toronto)
Karora shareholder Meeting 19 July 2024
Final order court hearing 24 July 2024
Complete Transaction 31 July 2024

This announcement is authorised for release to the ASX by the Board.
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To read our full terms and conditions, please click HERE

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ARIS MINING REPORTS H1 2024 PRODUCTION, PROVIDES EXPANSION PROJECTS UPDATE AND REAFFIRMS FULL YEAR 2024 GUIDANCE

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G Mining Ventures (TSX: GMIN)

And Reunion Gold Corporation (TSXV:RGD)  are pleased to announce that the business combination between GMIN and Reunion Gold has been completed by way of a court approved plan of arrangement under the Canada Business Corporations Act.

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Vincent-Luc Authier, Construction Manager at TZ with the First Gold Bar Poured at the Mine (CNW Group/G Mining Ventures Corp).

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G Mining Ventures and Reunion Gold Complete Business Combination

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BROSSARD, QC, July 15, 2024 – G Mining Ventures Corp. (“GMIN”) (TSX: GMIN) (OTCQX: GMINF) and Reunion Gold Corporation (“Reunion Gold”) (TSXV:RGD) (OTCQX:RGDFF) are pleased to announce that the business combination between GMIN and Reunion Gold has been completed by way of a court approved
plan of arrangement under the Canada Business Corporations Act (the “Arrangement”).

The Arrangement was overwhelmingly approved by GMIN shareholders as well as Reunion Gold securityholders at their respective annual general and special meetings held on July 9, 2024, and was subsequently approved by the Ontario Superior Court of Justice (Commercial List) on July 11, 2024.

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Louis-Pierre Gignac, President, CEO and Director of GMIN, stated:

“Oko West will play an important role in realizing our vision of becoming a leading intermediate gold producer, with its significant resource base, excellent expansion potential and location in a mining-friendly jurisdiction.

 

“With the close of the Oko West acquisition, I am excited to undertake maximizing value of this generational asset.

 

“Our team is uniquely positioned to accelerate value creation at Oko West, leveraging our deep Guiana Shield experience, expertise in project execution, and the tangible synergy from the anticipated near-term free cash flow, established system, team, and equipment at Tocantinzinho.

 

“I would like to take this opportunity to welcome Reunion Gold shareholders to the GMIN family, and I look forward to continuing to create value for our existing and new shareholders.”

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A newly incorporated successor issuer will hold and manage the combined business of GMIN and Reunion Gold (“New GMIN”), and has acquired, pursuant to the Arrangement, (i) all of the issued and outstanding common shares in the capital of GMIN (each whole share, a “GMIN Share”) and (ii) all of the issued and
outstanding common shares in the capital of Reunion Gold (each whole share, a “Reunion Gold Share”).

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In connection with the Arrangement:

• former GMIN shareholders are receiving 0.25 of a common share of New GMIN (each whole share, a “New GMIN Share”) for each GMIN Share held;
• former Reunion Gold shareholders are receiving 0.07125 of a New GMIN Share and 0.05 of a common share of Greenheart Gold Inc. (“Greenheart Gold” or “Spinco”) (each whole share, a “Spinco Share”) for each Reunion Gold Share held; and
• Reunion Gold has assigned and transferred to Greenheart Gold, a newly created gold exploration company, all of its assets other than the Oko West Project, including C$15 million in cash which GMIN has agreed to fund; resulting in New GMIN holding, indirectly through Reunion Gold, 19.9% of the outstanding Spinco Shares, and the former Reunion Gold shareholders holding the remaining 80.1%.

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It is expected that the New GMIN Shares will be listed and posted for trading on the Toronto Stock Exchange (the “TSX”) under the stock symbol “GMIN” in substitution for the presently listed GMIN shares on or around July 17, 2024, with the shares of GMIN and Reunion Gold being delisted from the TSX and the TSX Venture Exchange (the “TSXV”), respectively, at the close of trading the day before.

Each of GMIN and Reunion Gold will be submitting applications to cease to be reporting issuers under applicable Canadian securities laws and to otherwise terminate their public reporting obligations.

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To read our full terms and conditions, please click HERE

Calibre Mining (TSX: CXB)

Announced a 100,000 metre resource expansion and discovery drill program at its 100% owned, fully funded Valentine Gold Mine located in the central region of Newfoundland & Labrador, Canada.

This will be the largest pure exploration drilling campaign in Valentine’s history.

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CALIBRE TO COMMENCE AN EXPANDED 100,000 METRE RESOURCE EXPANSION AND DISCOVERY DRILL PROGRAM ACROSS ITS FLAGSHIP VALENTINE GOLD MINE PROPERTY

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To read our full terms and conditions, please click HERE

West Red Lake Gold Mines (TSXV: WRLG) 

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

The highlight was hole MM24X-03-5195-018, which Intersected 10m @ 13.40 grams per tonne gold, from 82m to 92m.

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G Mining Ventures (TSX: GMIN)

Announced that its shareholders have approved a special resolution authorizing the plan of arrangement with Reunion Gold Corporation previously announced on April 22, 2024, at the annual general and special meeting of Shareholders held earlier today.

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 Vincent-Luc Authier, Construction Manager at TZ with the First Gold Bar Poured at the Mine (CNW Group/G Mining Ventures Corp)

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G Mining Ventures Announces Shareholder Approval of Arrangement with Reunion Gold

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BROSSARD, QC, July 9, 2024 – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that its shareholders (the “Shareholders”) have approved a special resolution (the “Arrangement Resolution”) authorizing the plan of arrangement (the “Arrangement”) with Reunion Gold Corporation (“Reunion Gold”), previously announced on April 22, 2024, at the annual general
and special meeting of Shareholders held earlier today (the “Meeting”).

Under the Arrangement, a new entity (“New GMIN”) will be formed to hold and manage the combined business of GMIN and Reunion Gold, which, subject to the approval of the Toronto Stock Exchange (the “TSX”), will be listed on the TSX in substitution
of GMIN.

(All amounts are in USD unless stated otherwise)
o G Mining shareholders overwhelmingly approved the combination with Reunion Gold
o The arrangement is expected to close on or around July 15th, 2024
o The $50 million private placement with La Mancha and Franco-Nevada was also approved and is expected to close on or around July 12th, 2024

For the Arrangement to proceed, the Arrangement Resolution required approval by (i) at least two-thirds of the votes cast by the Shareholders present in person or represented by proxy at the Meeting, (ii) a majority of the votes cast by the Shareholders present in person or represented by proxy at the Meeting, excluding the votes attached to the shares held by La Mancha Investments S.à r.l. (“La Mancha”) and its related parties
and joint actors; and (iii) pursuant to the rules of the TSX, a majority of the votes cast by the Shareholders present in person or represented by proxy at the Meeting.

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To View G Mining’s historical news, please click here

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To read the full news release, please click HERE

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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 shares in G Mining Ventures.

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Ora Banda MIning (ASX: OBM)

The Sand King Underground Final Investment Decision has been approved by the Ora Banda Board to become the Company’s second underground mine at the Davyhurst Gold Project.

This will raise gold production to 150.000 Oz PA in FY 2026.

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Ora Banda Mining

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Ora Banda Sand King Approval lifys FY26 Production Outlook to 150,000 Oz Gold

Highlights

Sand King Underground Final Investment Decision (FID) approved by the Ora Banda Board to become the Company’s second underground mine at the Davyhurst Gold Project.

Forecast key metrics include:

• Investment capital of ~$39 million with maximum cash draw down of ~$32 million,
funded by operating cashflows from Riverina Underground and existing cash
• Portal commencement – September-2024 quarter
• First development ore – December-2024 quarter
• Stoping commences – March-2025 quarter
• Steady state production of ~60kozpa commencing in June-2025 quarter

Sand King Underground Resource recently increased 176% to 3.4 million tonnes at 2.8g/t for 306k ounces, up from 110k ounces

Maiden Sand King Underground Ore Reserve of 537k tonnes at 3.2g/t for 55k ounces

Sand King Underground mine plan also includes drill drives and infrastructure to benefit from any Resource conversion or extension. The current mineral Resource is open in all directions and has only been drilled to a depth of ~300m below surface

Initial 45,400m underground drilling program to commence in the December-2024 quarter.

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FY25 Guidance

• Forecast production of 100koz – 110koz with an AISC of A$1,975/oz – A$2,125/oz
• Exploration spend of ~$25 million budgeted to focus on expanding Riverina trend and
Sand King mineralisation
• Growth Capital of ~$63 million planned including:
o A$39 million – Sand King Underground
o A$10 million – Riverina Underground
o A$5 million – Process plant upgrades to target 1.4Mtpa
o A$9 million – Other projects including airstrip and camp upgrades

DRIVE to 150

• With Sand King Underground approved to support Riverina Underground, Ora Banda is now on the pathway to deliver 150koz in FY26 at AISC of A$1,740/oz – A$1,890/oz• This would represent a 40% year-on-year production growth from FY23 to FY26 that will deliver significant free cashflow in the current gold price environment
• FY26 Exploration and Growth Capital is forecast at A$60 – A$80 million; with numerous high grade exploration targets identified to drive future organic growth options

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.To View Orla Banda Mining’s historical news, please click here

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To read the full news release, please click HERE

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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.

.

Disclosure

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

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Karora Resources Inc. (TSX: KRR)

Announced that Institutional Shareholder Services (“ISS”), a leading independent proxy advisory firm, released a repor recommending that Karora shareholders vote in favour of the previously announced statutory plan of arrangement with Westgold Resources Limited.

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Leading Independent Proxy Advisory Firm ISS Recommends Karora Resources Shareholders Approve The Proposed Arrangement With Westgold Resources

Calidus Resources (ASX: CAI)

A transition to care and maintenance for the Warrawoona Gold Mine will be undertaken over a period of three weeks, pursuant to a detailed plan to ensure that value is preserved in all of the Group’s fixed assets.

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Calidus Resources Warrawoona mine

ASX announcement

Calidus Resources Limited (Receivers and Managers Appointed) (Administrators Appointed)

ASX code: CAI

We refer to the appointment of Receivers and Managers to the below entities,
• Calidus Resources Limited (ACN 006 640 553 )
• Keras (Pilbara) Gold Pty Ltd (ACN 169 795 037)
• Calidus Blue Spec Pty Ltd (ACN 643 467 501)
(all Receivers and Managers Appointed and Administrators Appointed)
(collectively ‘the Group’)

The appointment of the Receivers and Managers was made in response to the board of directors ecision to appoint Hayden White and Daniel Woodhouse of FTI Consulting as Voluntary Administrators to the Group on 28 June 2024.

The Receivers and Managers have undertaken an assessment of the operations and will be transitioning the Warrawoona operations into care and maintenance.

A campaign processing run will be undertaken over the next 12 days to process ROM stock.

The transition to care and maintenance will be undertaken over a period of three weeks, pursuant to a detailed plan to ensure that value is preserved in all of the Group’s fixed assets.

In parallel to the care and maintenance plan, the dual-track recapitalisation and sale process for the Group has been commenced.

Parties interested in participating in the recapitalisation and sale process should contact the Receivers and Managers at bbarley@kordamentha.com

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To read the full news release, please click HERE

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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 Calidus Resources.

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G Mining Ventures (TSX: GMIN)

Announced that it has completed its first gold pour at GMIN’s 100%-owned Tocantinzinho Gold Projectin the State of Pará, Brazil.

The first pour yielded approximately 440 ounces of gold.

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Figure 2 – Vincent-Luc Authier, Construction Manager at TZ with the First Gold Bar Poured at the Mine (CNW Group/G Mining Ventures Corp)

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G Mining Ventures Announces First Gold Pour at Tocantinzinho Project

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BROSSARD, QC, July 9, 2024 – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN, OTCQX: GMINF) is pleased to announce that it has completed its first gold pour at GMIN’s 100%-owned Tocantinzinho Gold Project (“TZ” or the “Project”) in the State of Pará, Brazil.

The first pour yielded approximately 440 ounces of gold, and the Project remains on time and budget for commercial production in the second half of 2024.

Once in commercial production, TZ will become Brazil’s third-largest primary
gold mine.

Highlights

o First gold pour at Tocantinzinho achieved on time and budget, only 22 months after the formal construction decision
o Commercial production and subsequent ramp-up to nameplate plant capacity of 4.7 million tonnes per annum expected to be achieved in H2-24
o Over 2.6 Mt of ore, containing over 78,000 gold ounces, mined and stockpiled ahead of the processing plant ramp-up.

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

“I am delighted to announce that TZ has achieved the significant milestone of the first gold pour, less than two years after the formal construction decision.

 

“The team successfully constructed TZ on time and in line with the original budget while maintaining an outstanding safety record. This milestone is a testament to the strength of our self-perform approach and demonstrates our competitive advantage.

 

“I sincerely thank our employees and contractors for their remarkable efforts in achieving this milestone. I look forward to ramping up the operation to commercial production in the second half of 2024.

 

“We are excited about TZ’s future and its significant role in Brazil’s gold mining industry.”

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To View G Mining Ventures’ historical news, please click here

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To read the full news release, please click HERE

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Calibre Mining (TSX: CXB)

Announced that the corresponding Nicaraguan authorities have granted the Company the key environmental permits for the development and production of the open pit mines at the Volcan gold deposit located approximately 5 km south of the Libertad mill.

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CALIBRE RECEIVES ENVIRONMENTAL APPROVAL FOR DEVELOPMENT AND OPERATION OF THE VOLCAN GOLD DEPOSIT LOCATED IN THE LIBERTAD MINE COMPLEX

Victoria Gold (TSX: VGCX)

On the 24th June Victoria Gold reported a Heap leach pad “incident”, and operations were “temporaily suspended”, which sounded fairly innocuouos at the time.

What they failed  to say was that around two million tons of a four million ton leachpad had slipped off the top of the mountain and collapsed down the side!

I seriously doubt the company can survive this catastrophe, and I predict it will cease to exist.

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Victoria Gold Heap Leach Failure – Can it Survive?

Victoria Gold (TSX: VGCX)

On the 24th June Victoria Gold reported a Heap leach pad “incident”, and operations were “temporaily suspended”, which sounded fairly innocuouos at the time.

What they failed to say was that around two million tons of a four million ton leachpad had slipped off the top of the mountain and collapsed down the side!

This material contains cyanide and other nasties you wouldn’t want getting into the water supply of people down stream, and the fish will probably suffer too, again affecting people that fish the river for sustinense.

I seriously doubt the company can survive this catastrophe, and tI predict it will cease to exist in fairly short order.

In their most recent announcement last Thursday the company stated there was no cyanide contamination of the water supply, only to be contradicted on Friday when elevated levels were conformed to have been detected in a nearby gulch, which narrowly exceeded guidelines.

This coincided with Victoria’s lenders declaring a default on their loans.

A heap leach specialist has informed a meeting that the pad is “unsafe to walk on”, and there’s no chance of heavy machinery going on it to start remediation work, which suggests to me this is going to be a long drawn out affair, and with loans in default I predict Victoria will not exist as a company soon.

It would not surprise me to see criminal charges against someone either, this is a huge catastrophe, and will set mining in the Yukon back years in my opinion.

In the short term I expect the First Nations are going to be enraged at this desecration of their land and will take time to come to terms with it.

I fear this story has a long way to run yet.

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If I were a Victoria Gold shareholder, I would be writing off my entire investment at this point, it’s hard to see how it will ever trade again given the size of the catastrophe, the difficulties in beginning to remediate the site, and the withdrawal of ledners’ support.

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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 Victoria Gold Corp.

.

Skeena Resources (TSX: SKE)

Announced that the British Columbia Court of Appeal overturned the decision of the Chief Gold Commissioner and Supreme Court of British Columbia in the matter,Skeena Resources Limited v Richard Mill, the Chief Gold Commissioner of British Columbia and Orogenic Gold Corp.

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Skeena Resources – Eskay Creek drilling, Golden Triangle, B.C. Canada.

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SKEENA ANNOUNCES POSITIVE JUDGMENT BY THE BRITISH COLUMBIA COURT OF APPEAL REGARDING THE ALBINO LAKE STORAGE FACILITY

Orla Mining (TSX: OLA / NYSE: ORLA)

Announced that, further to its April 10, 2024, news release, the Company has filed a Request for Arbitration against the Government of Panama under the Canada-Panama Free Trade Agreement.

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Orla Mining Cerro Quema project panoramic view

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Vancouver, BC – July 3, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) announces that, further to its April 10, 2024, news release, the Company has filed a Request for Arbitration against the Government of Panama under the Canada-Panama Free Trade Agreement (the “FTA”). 

The Request for Arbitration asserts that measures taken by Panama in respect of the Cerro Quema Project constitute violations of Panama’s legal obligations under the FTA and customary international law.

A Notice of Intent to Arbitrate was filed with the Government of Panama under the FTA on March 28, 2024, which was intended to facilitate a 30-day consultation period to reach an amicable resolution to the Company’s claim. As no resolution was reached, the Company has proceeded with filing the Request to Arbitrate.

The arbitration will be facilitated and administered by the International Centre for Settlement of Investment Disputes (ICSID) in Washington, DC, under its Arbitration Rules. As part of the FTA requirements, the Company has submitted an initial and preliminary estimate of damages claimed of no less than US$400 million, plus pre-award and post-award interest.

Although the Company intends to vigorously pursue these legal remedies, the Company’s preference is a constructive resolution with the Government of Panama that results in a positive outcome for all stakeholders.

The Cerro Quema Project is located on the Azuero Peninsula in the Los Santos Province of Southwestern Panama, about 45 km southwest of the city of Chitre. The project includes a pre-feasibility-stage, open-pit, heap leach gold project, a copper-gold sulphide resource, and various exploration targets.

The Company believes that the Cerro Quema Project could be an important social and economic contributor to Panama, creating employment and skills development opportunities and contributing tax, royalty, and other fiscal benefits to the host communities and governments. The Company also maintains a strong commitment to operating in an environmentally responsible manner.

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To View Orla Mining’s historical news, please click here

.

.To read the full news release, please click HERE

.

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.

.

Wesdome Gold Mines (TSX: WDO)

Updated on underground exploration activities at the Company’s wholly-owned Eagle River Mine near Wawa, Ontario.

Drilling has extended the high grade zone 150 metres to the east, adjacent to existing infrastructure.  Hole 758-E-456: 71.7g/t Au over 3.3 m core length (58.2g/t Au capped, 2.8 m true width).

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Wesdome Gold Mines Kiena Mine, Quebec.

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Wesdome Extends and Confirms High Grade Mineralization Across Multiple Zones Near Eagle River Mine Infrastructure

Ascot Resources (TSX: AOT)

Announced second quarter production results and provides a commissioning update at the Company’s Premier Gold Mine (“Premier”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. 

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Ascot Resources Premier mine, Golden Triangle, British Columbia, Canada.

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. Vancouver, B.C. July 3, 2024 — Ascot Resources Ltd. (TSX: AOT; OTCQX: AOTVF)(“Ascot” or the “Company”) announcesd second quarter production results and provides a commissioning update at the Company’s Premier Gold Mine (“Premier”), located on Nisga’a Nation Treaty Lands in the prolific Golden Triangle of northwestern British Columbia. Initial commissioning material was introduced into the grinding circuit of the mill on March 31, 2024, initial commissioning ore started to be processed on April 8, 2024, and first gold was poured on April 20, 2024. During the remainder of the quarter, the Company continued commissioning the mill, water treatment plant, and established the secondary underground egress at the Big Missouri deposit to commence production in its planned stoping areas. Many of the commissioning challenges encountered in the mill have been addressed, which is starting to demonstrate an increasing frequency and quantity of gold pours.   . SECOND QUARTER 2024 HIGHLIGHTS Established the second egress and exhaust vent raise at the Big Missouri deposit on June 18th Project to date development of 3,861 metres, of which 89% relates to Big Missouri and 11% relates to Premier Northern Lights (“PNL”) Second quarter development of 1,764 metres, of which 1,381 metres related to Big Missouri and 383 metres relates to PNL. Significant progress in the second half of the quarter has been made at PNL where the development rates have increased to over 6 metres per day The operation is moving from mining lower-grade commissioning ore from the development headings to mining of the planned higher-grade stoping areas. During the quarter, Ascot processed 85,436 dry tonnes of mostly development ore in the commissioning of the mill, containing an estimated total of 5,713 ounces of gold Poured 839 ounces of gold and 1,288 ounces of silver, and an estimated 3,178 ounces of gold-in-process remains in the mill circuit Sold 735 ounces of gold to the offtaker at an average realized price of US$2,357/oz (C$3,229/oz) Delivered 42 ounces of gold and 562 ounces of sliver per stream and royalty arrangements The Company addressed a number of commissioning issues in the mill related to the gravity circuit, elution circuit, and thickening process Cash balance at June 30, 2024 of approximately C$12 million     .. .Derek White, President & CEO, and Director commented, “Ascot progressed through many important milestones in the second quarter, including the start of processing commissioning ore in the mill, the first gold pour from the gravity circuit, and subsequent pours from the carbon-in-leach circuit as a part of the commissioning process.   “While various challenges were encountered within the mill startup, many corrective measures and changes have been made, resulting in an upward trajectory in processing reliability, throughput, and the ensuing gold pours.   “With stoping activity in higher-grade areas having started at the Big Missouri deposit, we anticipate a noticeable increase in gold pours in the very near term.”

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To View i-80 Gold’s historical news, please click here

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To read the full news release, please click HERE

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Live spot metal prices 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 shares in Ascot Resources.

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Orla Mining (TSX: OLA)

Updated on its exploration activities at Camino Rojo Sulphide Extension from the first half of 2024.

Highlight results included 4.57 g/t Au, 19.4 g/t Ag, 2.56% Zn, (6.16 g/t AuEq) over 15m, incl. 51.1 g/t Au, 8.08% Zn over 0.8m.

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Orla Mining project panoramic view and location map – Zacatecas State, Mexico

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Sylvain Guerard, Orla’s Senior Vice President, Exploration

Calidus Resources (ASX: CAI)

Reported the shocking news that their shares have been suspended by the ASX, and Administrators have been appointed.

Mining is continuing currently.

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Calidus Resources Warrawoona mine

Comment.

I have to admit this news floored me.

Calidus have had issues, but the recent refinancing and hedge delay looked to have given them a clear path to profitability in the short term, and they had around A$9 million in treasury.

I expect a total loss of my investment here, a first for me.

It’s unbelievable that after executing the financing and construction perfectly, a miner producing gold at record prices has gone under.

I am removing them from our watchlist, and will advise if any positive news is released, but I expect the creditors to empty the trough and not leave anything for the shareholders.

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Calidus Suspended and Administrators Appointed

An Australian Mining.com article detailing the collapse can be found HERE

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ASX Announcement

Calidus Resources Limited (Receivers and Managers Appointed) (Administrators Appointed)

Notice is hereby given that Hayden White and Daniel Woodhouse of FTI Consulting (Administrators) were appointed as joint and several voluntary administrators to the following entities on 28 June 2024:
• Calidus Resources Limited (ACN 006 640 553) (Calidus Resources, ASX:CAI);
• Keras (Pilbara) Gold Pty Ltd (ACN 169 795 037) (Keras (Pilbara));
• Calidus Blue Spec Pty Ltd (ACN 643 467 501) (Calidus Blue);
• Keras (Gold) Australia Pty Ltd (ACN 152 080 110) (Keras (Gold));
• Millennium Minerals Pty Ltd (ACN 003 257 556) (Millennium Minerals); and
• Calidus Otways Pty Ltd (ACN 640 807 183) (Calidus Otways).

It should be further noted that Richard Tucker and John Bumbak of Korda Mentha were appointed as Receivers and Managers by the senior secured creditor Macquarie Bank to Calidus Resources, Keras (Pilbara) and Calidus Blue on 28 June 2024.

Entities not under the control of Receivers and Managers, being Keras (Gold), Millennium Minerals and Calidus Otways hold and operate the Nullagine project and are under the sole control of the Administrators.

The Administrators are undertaking an urgent assessment of the project, with a view
to commencing a process to seek a sale, or recapitalisation of the project as soon as possible.

Contact details and further information
Information on creditor processes will be uploaded to the FTI Consulting creditor portal
(https://www.fticonsulting.com/creditors).

This announcement was authorised to be provided to ASX by the Administrators
Media & Shareholder inquiries Creditor inquiries
Shane Murphy
Strategic Communications
FTI Consulting Australia
+61 (0) 420 945 291 /
+61 8 9321 8533
shane.murphy@fticonsulting.com

Suppliers and trade creditors of entities under the control of
the Receivers and Managers should contact them via
calidus@kordamentha.com
(i.e. Calidus Resources, Keras (Pilbara) and Calidus Blue)
Creditors of the Nullagine project entities will be contacted
by FTI Consulting.

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To read the full news release, please click HERE

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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 Calidus Resources.

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Market Review for June 2024

City Investors Circle has published the Market review for June 2024.

The features company is Barton Gold. Other company updates include Calibre Mining and G Mining Ventures, plus updated stock and commodity market data. 

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City Investors Circle Market Review for June 2024

City Investors Circle has published the Market review for June 2024.

The features company is Barton Gold.

Other company updates include Calibre Mining and G Mining Ventures, plus updated stock and commodity market data.

To subscribe to receive our complimentary monthly newsletter and invitations

to our free to attend events,

please email andrew@city-investors-circle.com

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