Neometals Ltd (ASX / AIM: NMT)

Provided a strategy update with the following key measures to be implemented immediately, restructuring and right-sizing of the organisation and its underlying cost base to reflect a new strategic refocus.

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Neometals Primobius JV official opening

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Neometals Strategic Update

Sustainable process technology developer, Neometals Ltd (ASX: NMT, AIM: NMT & OTCQX: NMTAY) (“Neometals” or “the Company”), provides a strategy update with the following key measures to be implemented immediately:
• Restructuring and right-sizing of the organisation and its underlying cost base to reflect a new strategic refocus;
• Prioritising the progression of Primobius, the LiB Recycling joint venture with SMS group GmbH, through industrial validation to commercialisation; and
• Capital management initiatives through the targeted sale of non-core assets and strategic partnering to facilitate the ongoing development of the Company’s other technologies.

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Neometals has adapted its corporate strategy in response to prevailing battery materials prices and market sentiment.

A simplified structure and focus on the Primobius plant building joint venture targets an optimum path to creating and realising shareholder value.

These steps and the Company’s existing austerity plan are expected to lower the corporate and administrative cost base by approximately 40% year-on-year. This, coupled with the recently announced placement raising approximately A$4.5M,1 is intended to support the commercialisation of Primobius with the aim of becoming a leading supplier of LiB Recycling plants to the global EV supply chain.

Primobius’ patented recycling process is being industrially validated through the delivery of a 2,500 tpa plant for Mercedes-Benz in Kuppenheim, Germany.

Once successfully commissioned and accepted by the client, Primobius plans to then offer larger plants to its growing pipeline of licence holders, MOU counterparties
and new customers.

Primobius’ preferred business model is to offer plant supply contracts and technology
licences, rather than operating recycling plants as principal.

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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

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 no shares in Neometals.

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Westgold (ASX / TSX: WGX)

Provided an overview of the Beta Hunt mine and update in relation to the ongoing Stage 3 Resource Definition drilling program being undertaken at the Fletcher Zone discovery  within the Beta Hunt operation at the Company’s Southern Goldfields Operations.

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Westgold Announce Outstanding Drill Results From Fletcher Zone At Beta Hunt – Two additional drill rigs to be deployed to accelerate program

Perth, Western Australia, 21 August 2024: Westgold Resources Limited (ASX: WGX, TSX: WGX, OTCQX: WGXRF) (Westgold or the Company) is pleased to provide an overview of the Beta Hunt mine and update in relation to the ongoing Stage 3 Resource Definition drilling program being undertaken at the Fletcher Zone discovery (Fletcher) within the Beta Hunt operation at the Company’s Southern Goldfields Operations.

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Highlights

Assays from the next 8 holes of the Fletcher Stage 3 program at Beta Hunt
have been received.
Significant intersections include:
 4.00m @ 22.45g/t Au in hole WF440N1-01AR
 5.00m @ 10.95g/t Au in hole WF440N1-21AE
 5.20m @ 10.13g/t Au in hole WF440N1-02AR
 8.00m @ 5.26g/t Au in hole WF440N1-01AR
 7.00m @ 7.97g/t Au in hole WF440N1-21AE
 6.00m @ 6.39g/t Au in hole WF440N1-04AR
 15.00m @ 3.07g/t Au in hole WF440N1-3AR

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Resource Definition program to be accelerated – an additional two drill rigs to
be deployed taking fleet to three at Fletcher.

Maiden Mineral Resource Estimate targeted for late Q2 / early Q3 FY25.

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Westgold Managing Director and CEO Wayne Bramwell commented:

“The Fletcher Zone is key to expanding gold production at Beta Hunt. It is a proximate, parallel lode to the existing 1.6Moz Western Flanks system and Westgold is currently advancing decline development from Western Flanks towards Fletcher to access a new mining front.

 

“Accelerating drilling will rapidly unlock value at Fletcher. To date Fletcher has only 32 drill holes into this emerging 2km long target and Westgold is now mobilising an additional 2 drill rigs to Beta Hunt to accelerate this program.

 

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Westgold looks forward to expanding production at Beta Hunt and delivering a maiden Mineral Resource Estimate for the emerging Fletcher Zone in late Q2 / early Q3 FY25.”

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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

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 Westgold.

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West Red Lake Gold Mines (TSXV: WRLG)

 Announced the start of a 2024 surface drilling program across its 100% owned Madsen Mine Property located in the Red Lake Gold District of Northwestern Ontario, Canada.

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West Red Lake Gold Mines (TSXV: WRLG)

Announced the start of a 2024 surface drilling program across its 100% owned Madsen Mine Property located in the Red Lake Gold District of Northwestern Ontario, Canada.

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Calibre Mining  (TSX: CXB)

Announced drill results from its 2024 resource conversion and expansion program within the Guapinol open pit area on the Company’s  Eastern Borosi Mine Complex in northeastern Nicaragua.

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CALIBRE CONTINUES TO INTERCEPT HIGH-GRADE GOLD MINERALIZATION AT ITS EASTERN BOROSI MINE COMPLEX; DRILLING INTERSECTS INCLUDE 13.24 G/T GOLD OVER 5.8 METRES AND 11.62 G/T GOLD OVER 3.8 METRES

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Aris Mining (TSX: ARIS)

Announced the results received to date from its ongoing 2024 exploration drilling program at its Segovia Operations in Colombia, which is now 70% complete.

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ARIS MINING ANNOUNCES HIGH GRADE DRILL RESULTS FROM ONGOING
SEGOVIA OPERATIONS EXPLORATION PROGRAM

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Vancouver, Canada, August 12, 2024 – Aris Mining Corporation (Aris Mining or the Company) (TSX: ARIS; NYSE-A: ARMN) announces the results received to date from its ongoing 2024 exploration drilling program at its Segovia Operations in Colombia, which is now 70% complete.

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Neil Woodyer, CEO of Aris Mining, commented

 

“Our drilling program continues to deliver high grade intersections, confirming the continuity and extension of the large scale veins at depth and along strike, and supporting Segovia’s status as one of the highest grade gold operations in the world.

“The identification of new, near mine mineral resources are expected to progressively lengthen the currently defined mine life, and to provide future low development cost mill feed to supplement the processing plant expansion currently underway.

 

 

“We are especially excited by the results of our ongoing data verification and new drilling programs at Cristales, which are expected to result in significant additions to inferred mineral resources and have the potential to connect the Cristales vein with the substantial vein systems at El Silencio”.

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Exploration Program

The intersections provided in this news release include results received since the Company’s previous exploration news release dated August 16, 2023, which had a data cut-off date of July 31, 2023, up to validated sample assays available as of April 1, 2024.

These results are expected to be included in the Company’s updated mineral resource and reserve estimates expected in the fourth quarter of 2024.

The Segovia vein system is extensive, with three of the four operating mines following relatively flat lying vein systems ranging between 1.5 and 2.8 kilometres (km) along strike.

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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

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 Aris Mining.

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American Creek Resources (TSX.V: AMK)

Announced that project operator and JV partner Tudor Gold has produced the results of the first four holes totaling over 6,174 m of the planned 10,000-meter 2024 exploration program at Treaty Creek, located in the heart of the Golden Triangle of NW B.C.

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Mining Review 18th August 2024

Gold hit a new nominal all-time high this week, breaching $2,500.

Calibre Mining and Orla Mining published good results, and Victoria Gold, as predicted here, went into receivership and the stock will be delisted. 

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City Investors Circle Mining Review 18th August 2024

Gold hit a new nominal all-time high this week, breaching $2,500.

Calibre Mining and Orla Mining published good results,.

Victoria Gold, as predicted here, went into receivership and the stock will be delisted. The company has gone from one disaster to another, and now a shareholder is suing the company and some directors, which looks as though it will get messy.

Management are now blaming their lawyers for instructing them to keep quiet and not issue news releases. Well they employ the lawyers so they should have overridden that advice and informed the Yukon authorities what steps they were taking, and shareholders as well, of course.

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News from our watchlist companies last week is listed below, please click on the links to read the full story.

 Archives

Click here for all company news archives

Market Data

Weekly % Price Changes

(US$| unless stated)

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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.

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Orla Mining (TSX: OLA)

Announced the results for the second quarter ended June 30, 2024.

Second quarter gold production was 33,206 ounces, at an AISC of US$782.

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

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Robust Margin Expansion Driving Record Free Cash Flow

Westgold Resources (ASX / TSX: WGX)

Presented the maiden Ore Reserve for its South Junction mine. 

South Junction is a part of a broader Bluebird – South Junction mining complex which is becoming the primary ore source for the Bluebird processing hub at Meekatharra with a 1.2Mtpa run rate targeted from Q3, FY25.

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Victoria Gold (TSX: VGCX)

The company has been placed into receivership after the Yukon government were granted an application by an Ontario court.

The government are said to have lost faith in the mine’s management after the catastrophic heap leach failure on the 24th June.

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Comment

I have been predicting this from the start. It was so obvious the company were not in a position to remediate this disaster and resume mining without a massive injection of capital that was never going to come given the uncertainty as to whether the First Nations and Yukon government would allow mining to resume.

I could not understand why investors continued to buy the shares, particularly when their lenders recently eclared a default of $250 million worth of loans.

The writing has been on the wall for some time and now it has come to pass just as I predicted.

I commisserate with anyone that has suffered a loss here, but there  was ample opportunity to exit betweem the disaster and today.

The shares are halted and I predict an imminent delisting.

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Victoria Gold Placed Into Receivership

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The company has been placed into receivership after the Yukon government were granted an application by an Ontario court.

The government are said to have lost faith in the mine’s management after the catastrophic heap leach failure on the 24th June.

A link to the press article can be found 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 no shares in Victoria Gold..

Calibre Mining (TSX: CXB)

Announced financial and operating results for the three and six months ended June 30, 2024.

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CALIBRE REPORTS Q2, 2024 AND YEAR-TO-DATE FINANCIAL RESULTS AND REMAINS ON TRACK TO DELIVER INTO FULL YEAR PRODUCTION GUIDANCE WHILE THE MULTI-MILLION OUNCE VALENTINE GOLD MINE PROGRESSES TO CONSTRUCTION COMPLETION IN CANADA

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

Reported 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 Austin and McVeigh Zones.

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Calibre Mining (TSX: CXB)

Announced first ore delivery to the Libertad Mill its 100% owned Volcan Deposit located 5 km south of the mill.

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CALIBRE DELIVERS FIRST ORE FROM THE VOLCAN OPEN PIT LOCATED 5 KM FROM THE LIBERTAD MILL, LEADING TO A STRONGER H2, 2024

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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

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 Calibre Mining.

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Thesis Gold (TSXV: TAU)

Announced the receipt of an amended Mines Act permit at its 100% owned Lawyers-Ranch Project in the prolific Toodoggone Mining District of northern British Columbia.

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Thesis Gold Receives Amended 5-Year Exploration Permit

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Vancouver, British Columbia–(Newsfile Corp. – August 8, 2024) – Thesis Gold Inc. (TSXV: TAU) (WKN: A3EP87) (OTCQX: THSGF) (“Thesis” or the “Company“) is pleased to announce the receipt of an amended Mines Act permit (the “Permit“) at its 100% owned Lawyers-Ranch Project in the prolific Toodoggone Mining District of northern British Columbia.

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Highlights

• 5-year Multi-Year-Area-Based (MYAB) Exploration & Mine Permit: A property wide MYAB permit has been authorized by the Ministry of Energy and Mines of British Columbia for the ongoing drilling and exploration activities to be conducted on the Lawyers-Ranch Project
• Approved Activities:
  • Permitted drilling sites: 3900
    • Geotechnical drilling sites: 46
  • Exploration trails/access: 260 kilometres
    • Additional 20 km of access modifications
  • Fuel storage: 225,000 litres
  • Test Pits: 100

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With these approvals in place, Thesis is well-positioned to continue advancing geotechnical and exploration activities. The permitted drill site allowances and exploration access are crucial for ongoing project exploration, while the permitted geotechnical sites and test pits will lay the groundwork for engineering studies at Ranch.

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Dr. Ewan Webster, President and CEO of Thesis Gold Inc. said;

“Our receipt of the amended 5-year exploration permit marks a significant milestone for Thesis Gold.

 

“This permit enables us to systematically advance our exploration and engineering efforts. With the ability to conduct extensive drilling, expand our access, and continue our comprehensive geological and environmental studies. 

 

“We are well-positioned to unlock the full potential of this prolific mining district. Additionally, the upcoming release of our Preliminary Economic Assessment (PEA) will be a major catalyst, providing valuable perspective into the project’s economic potential.

 

“We remain committed to responsible and sustainable exploration as we drive towards our goal of advancing a world-class gold project.”

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Ongoing Geological, Engineering, and Environmental Work: Over 10,000 metres of drilling focused on resource upgrading and expansion at both project areas, including undrilled prospects at Ranch; field mapping and prospecting at new claims; ongoing geochemical sampling and geotechnical drilling to support potential mine design; additional metallurgical studies; and continued environmental baseline data collection and monitoring at Lawyers and Ranch.

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To read the full news release please click HERE

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Lve metal prices can be found 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

.

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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 Thesis Gold.

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Colonial Coal (TSX.V: CAD)

Colonial Coal have been featured in a new research report by Streetwise.

The article features up to date research on the metallurgical coal industry.

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Colonial Coal – Site visit at the Huguenot property

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Colonial Coal Featured in new Streetwise Report

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Colonial Coal (TSX.V: CAD) have been featured in a new research report by Streetwise.

The article features up to date research on the metallurgical coal industry.

To read the article, please click HERE

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To read the full news release please click HERE

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Live metal prices can be found 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 Colonial Coal.

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Calibre Mining (TSX: CXB)

Announced that the Minister of Environment and Climate Change Canada, has approved the addition of a third open pit, the Berry Deposit at its 100% owned Valentine Gold Mine. 

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Calidus Resources (ASX: CAI)

Commencing on Monday, 5 August 2024, the Receivers and Managers will be seeking
urgent expressions of interest for the acquisition and/or recapitalisation of Calidus
Resources Limited.

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Calidus Resources commemorative coin

Calidus Resources Update from the Receivers and Managers and Addendum to June 2024 Quarterly

Please see below an update from the Receivers and Managers and addendum to the June 2024 Quarterly lodged on the ASX on 30 July 2024.

Sale / recapitalisation process

• Commencing on Monday, 5 August 2024, the Receivers and Managers will be seeking
urgent expressions of interest for the acquisition and/or recapitalisation of Calidus
Resources Limited.
• The opportunity includes the acquisition of some or all of the project assets, including
the Warrawoona project, the Nullagine project and a number of other satellite
deposits with significant upside potential.
• To be part of the sale process, interested parties should please contact the Receivers
and Managers to lodge their expression of interest.
Update on operations
• After a successful trial over a five-day period of the low grade ore on the ROM (which
resulted in an average grade of c. 0.43g/t and an average recovery of c. 94.0% through
the mill), the Receivers and Managers have commenced the processing of the c. 1.3MT
of low-grade ROM stock. This process is expected to be completed by the end of the
calendar year and generate positive cash flows.
• In addition, the Receivers and Managers are evaluating a decision to mine and process additional ore from Blue Bar.
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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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Karora Resources (TSX: KRR)

Westgold Resources Limited (ASX: WGX) and Karora Resources announced the completion of the merger of Westgold and Karora to create a leading mid-tier gold producer and international gold company expected to be dual listed on the ASX and TSX. 

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WESTGOLD AND KARORA COMPLETE MERGER

• is globally investable– a mid-tier gold producer operating exclusively inWestern Australiawith a highly complementary combination of mining and processing assets, people, and a robust balance sheet;
• establishes a top five Australian gold producer (+400,000 ozpa)– with a pro forma market capitalisation of A$2.5 billion(C$2.3 billion¹);
• becomes one of the largest unhedged Australian gold producers– providing investors with full exposure to the gold price;
• starts day one with an enviable pipeline of organic opportunities– including advanced greenfield, brownfield targets and exploration prospects across two of Australia’smost prolific gold fields;
• provides enhanced capital markets profile– with increased scale, trading liquidity, and potential index inclusion for gold and generalist investors across ASX, TSX and OTCQX; and
• is led by a highly experienced management team– supported by a combined board of accomplished mining professionals with a proven track record of maximising value for shareholders.

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Westgold Managing Director and CEO Wayne Bramwell said: