Capricorn Metals (ASX: CMM)

Advised that it has used the recent pull back in the A$ gold price to reduce its gold hedge book by 52,000 ounces to provide further exposure to any increase in the A$ gold price over the next 18 months.

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Capricorn Metals Karlawinda Mine

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Capricorn Metals – PARTIAL CLOSURE OF GOLD HEDGE BOOK GIVES  CAPRICORN ADDITIONAL GOLD PRICE UPSIDE

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Capricorn Metals Limited (ASX: CMM) (Capricorn or the Company) is pleased to advise that it has used the recent pull back in the A$ gold price to reduce its gold hedge book by 52,000 ounces to provide further exposure to any increase in the A$ gold price over the next 18 months.

The gold hedging contracts closed were as follows:

Gold Hedging Contracts Closed

Maturity / Ounces /  Price (A$/oz)
30/09/2024 12,000 2,327
31/12/2024 12,000 2,327
31/03/2025 10,000 2,327
30/06/2025 10,000 2,327
30/09/2025 8,000 2,327
52,000 2,327

The closure results in Capricorn having no current gold forward sale delivery obligations until 31 December 2025.

As part of the closure Capricorn also purchased gold put options (for the same volume and maturity as the closed hedge contracts) as follows:

Gold Put Options Purchased

Maturity / Ounces / Strike Price (A$/oz)
30/09/2024 12,000 3,432
31/12/2024 12,000 3,432
31/03/2025 10,000 3,432
30/06/2025 10,000 3,432
30/09/2025 8,000 3,432
52,000

The purchased put options give Capricorn the right (but not the obligation) to sell the previously hedged ounces at a price of A$3,432 per ounce.

This allows Capricorn full participation if the gold price is higher than the strike price on the date of maturity of each put option.

The cost of closure and purchase of put options (at a spot price of A$3,482 per ounce) was $69.6 million, paid out of Capricorn’s cash and bullion holdings of $177.8 million (31 March 2024).

Having closed 52,000 ounces of hedging at a spot price of A$3,482 per ounce, every A$50 per ounce increase in the gold price above A$3,482/oz enhances revenue on the previously hedged production by $2.6 million.

The revenue downside on these ounces (relative to A$3,482/oz) is limited to a maximum of $2.6 million by the purchase of the A$3,432/oz put options.

This closure follows execution of a similar strategy in June 2023 under which 51,000 ounces of gold hedging was closed, leading to revenue enhancement in FY24 of approximately $13 million after closure costs as Capricorn increased its exposure to the rising gold price over that period.

Capricorn’s gold forward sales commitments have been reduced to 55,000 ounces at an average delivery price of A$2,327 per ounce, maturing from December 2025 to December 2026.

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“This represents less than 5% of gold reserves at the operating Karlawinda Gold Project and less than 2% of Capricorn total gold reserves*.

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To View Capricorn Metals’ historical news releases, 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.

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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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Barton Gold (ASX:BGD)

Confirmed that its current ~7,000m drilling program in the Tarcoola Goldfield has restarted.

The program is testing new structural targets near the Perseverance Mine.

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Barton Gold Tarcoola Goldfield Drilling Restarts

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Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or the Company) is pleased to confirm that its current ~7,000m drilling program in the Tarcoola Goldfield (Tarcoola) has restarted.

The program is testing new structural targets near the Perseverance Mine.

3,126m RC drilling was completed between 14 May and 3 June 2024, with priority assay samples dispatched for fire assay analysis. Drilling has now restarted on priority targets including Tolmer, Mulgathing and Warburton.

HIGHLIGHTS

• ~7,000m reverse circulation (RC) drilling program restarts, targeting high-grade mineralisation in newly identified structural targets surrounding the historical high-grade Perseverance Mine.

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Commenting on the Tarcoola drilling program, Barton MD Alex Scanlon said:

“We are excited to get drilling again on some of our highest priority targets for potential high-grade Tarcoola mineralisation.

 

“With priority samples already in the lab we are aiming to complete this initial program quickly, and then start preparing for potential follow up drilling on these targets, and others.”

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To View Barton Gold’s historic 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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=======

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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 Barton Gold.

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Calidus Resources (ASX: CAI)

Announced a maiden JORC 2012 Mineral Resource at the Nullagine Gold Project of 6.9Mt at 2.15g/t Au for 475,114 ounces.

This includes Measured and Indicated Resources of 4.1Mt at 2.33g/t Au for 307,497 ounces, representing 65% of the total Resource.

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Calidus Resources commemorative coin

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Calidus Announce Maiden Resource to underpin Nullagine Restart

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Free-milling Resource of 6.9Mt at 2.15g/t for 475,000oz

First production targeted for no later than Q1 CY25 with no hedging

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Calidus Resources Limited (“Calidus” or the “Company”) (ASX: CAI) is pleased to announce a maiden JORC 2012 Mineral Resource at the Nullagine Gold Project of 6.9Mt at 2.15g/t Au for 475,114 ounces.

This includes Measured and Indicated Resources of 4.1Mt at 2.33g/t Au for 307,497 ounces, representing 65% of the total Resource.

Calidus has commenced work on a Feasibility Study based on two weeks on, two weeks off campaign milling at the 1.8Mtpa Golden Eagle mill. This study is expected to be finished in the coming quarter.

The Mineral Resource does not incorporate the remnant stockpiles on the run of mine (“ROM”) pad, where Calidus is undertaking a 10m x 10m drill program to delineate Mineral Resources that will be included in the Feasibility Study and provide an ore source for commissioning.

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HIGHLIGHTS

• Initial Maiden JORC 2012 Resources of 6.9Mt @ 2.15g/t Au for 475koz at
Nullagine, including Measured and Indicated (M&I) Resources of 4.1Mt @ 2.33g/t
Au for 307koz (65% of total resources classified as M&I).
• Bartons Underground: 1.0Mt @ 3.36g/t Au for 110koz (60% M&I)
• Beaton’s Creek Open Pit: 4.1Mt @ 1.97g/t Au for 260koz (86% M&I)
• Beaton’s Creek Underground: 0.5Mt @ 3.41g/t Au for 18koz (35% M&I)
• Crossing Open Pit: 0.4Mt @ 1.01g/t Au for 12koz; Genie Open Pit: 0.3Mt @
1.57g/t Au for 16koz; Hopetoun Open Pit: 0.4Mt @ 1.21g/t Au for 15koz; Red
Ensign Open Pit: 0.2Mt @ 1.69g/t Au for 11koz

• Competent Person review underway on additional 16 deposits (including the
main Golden Eagle deposit) with historic resources to allow further increase in
Mineral resources when complete

• Resources are all free-milling and were targeted in strategy to establish an initial
two years of campaign milling at Nullagine
• Campaign milling at Nullagine’s 1.8Mtpa Golden Eagle mill envisaged to be on
a two week on two week off basis commencing no later than Q1 CY25.
• Targeting Bartons underground as base feed. Previous production from
Bartons Underground averaged 25kt/month @ 2.4g/t with 20,000oz mined

• Beatons Creek and Genie targeted to fill remaining campaign milling capacity.
Beatons Creek averaged 1.17g/t with 94,000oz recovered in previous mining

• All potential production from Nullagine will be unhedged and fully leveraged to
the gold price; This would be in addition to Calidus’ previously released FY25
production guidance of ~60 to 65,000oz, rising to 90,000oz in FY26, via its
Warrawoona mill, meaning the Company would have two production sources

• Calidus anticipates releasing a Feasibility Study for the Nullagine campaign milling
operations, including Maiden Reserves, in the September Quarter
• Studies commenced on how to also treat sulphide ores at Nullagine
1 FY2019 and FY2020 Millenium Minerals (ASX:MOY) production data 2 FY2021 and 2022 Novo Resources Corp (ASX:NVO) production data

Calidus Managing Director Dave Reeves said:

“We are excited to release an initial Maiden Resources at Nullagine which forms the basis for a Study on the restart of the Golden Eagle mill, which has a nameplate capacity of 1.8Mtpa, on a campaign basis.

 

“Any production from Nullagine will result in a substantial uplift in Calidus’ overall production profile and provide significant free-cashflow generation as there is no hedging in place on any of these ounces.

 

“We look forward to releasing a Feasibility Study in the September Quarter 2024 with production targeted to commence no later than Q1 CY25.

 

Work continues on the remaining 16 historic resources not included in this release which will provide a substantial uplift to these Resources when complete.”

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To View Calidus Resources’ 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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=======

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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 Calidus Resources.

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

Reported that a gold bar was poured using the refinery in the Madsen mill on June 8, 2024. 

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West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV: WRLG)(OTCQB: WRLGFis pleased to report that a gold bar was poured using the refinery in the Madsen mill on June 8, 2024.

The gold was recovered during the Madsen mill cleanup and gold recovery program (the “Gold Recovery Program”) at its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

 

 

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West Red Lake Gold Mines CEO Shane Williams stated,

“It is very exciting to be pouring gold again at the Madsen Mill.

 

“Recovering trapped gold is another validation of the opportunity that’s available for us to unlock at the Madsen Mine.

 

“With gold worth approximately US$2,300 per ounce, recovering these ounces from the mill will help bolster our treasury.

 

“The excitement of pouring gold again at the mine is further energizing our team as we push to get Madsen back into production in the second half of 2025.”

 

 

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As detailed in a news release on May 2^nd, 2024 (Madsen Mill Cleanup Unlocks Significant Value For West Red Lake Gold Mine), West Red Lake Gold undertook a mill cleanup program because of visual evidence that installation and operational missteps by the prior operator in certain parts of the mill had created “traps”, resulting in gold being caught up in these physical traps instead of making it through the mill.

A preliminary mill cleanup in late 2023 recovered 415 troy ounces of gold with proceeds of approximately US$750,000 from material trapped in the mill’s circuits.

This prompted a second phase focused on the ball mills and semi-autogenous grinding (“SAG”) mills. Gold was found physically trapped in ill-fitting liners in the ball mill, in the SAG mills, and in uncleaned filters.

All of these would have impacted the previous operator’s reconciliation numbers, and all can be minimized or eliminated through installation of proper equipment and mill operations expertise

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To View West Red Lake Gold Mines’ historical news, please click here

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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 no  shares in West Red Lake Gold Mines.

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To read our full terms and conditions, please click HERE

Mining Ventures (TSX: GMIN)

Has filed its joint management information circular and related materials for its AGM of the holders of common shares in the capital of GMIN, on July 9, 2024 at 15.00 UK time.

GMIN Special Committee and Board unanimously recommend voting FOR the Arrangement.

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G Mining Ventures Mails Joint Management Information Circular Special Committee and Board of Directors unanimously recommend that Shareholders vote FOR the Arrangement with Reunion Gold

BROSSARD, QC, June 13, 2024 /PRNewswire/ – G Mining Ventures Corp. (“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) announced today that it has filed its joint management information circular (the “Circular“) and related materials for its annual general and special meeting (the “Meeting“) of the holders of common shares in the capital of GMIN (the “GMIN Shareholders“) to be held at the offices of Blake, Cassels & Graydon LLP, in the St. Laurent Boardroom, located at 1 Place Ville Marie, Suite 3000, Montreal, Québec H3B 4N8, on July 9, 2024 at 10:00 a.m. (EDT).

G Mining Ventures  (TSX: GMIN)

Provide dan update on commissioning progress at GMIN’s 100%-owned Tocantinzinho Gold Project in the State of Pará, Brazil.

TZ is engineered to produce approximately 175,000 ounces of gold annually over its initial 10.5-year mine life and is on track and on budget for commercial production in H2-2024.

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G Mining Ventures Commences Processing Ore at Tocantinzinho Project:

Start of Hot Commissioning.

BROSSARD, QC, June 11, 2024 – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN, OTCQX: GMINF) is pleased to provide an update on commissioning progress at GMIN’s 100%-owned Tocantinzinho Gold Project (“TZ” or the “Project”) in the State of Pará, Brazil. TZ is engineered to produce approximately 175,000 ounces of gold annually over its initial 10.5-year mine life and is on track and on budget for commercial production in H2-2024.

Ore was introduced into the grinding circuit on June 10 after GMIN received the hot commissioning permit from the Pará State Environmental Agency, SEMAS.

The commissioning permits allow for the mining and processing of ore, disposal of tailings as well as the selling and exporting of gold.

Highlights;

o Project remains on schedule and on budget for commercial production in H2-2024
o Dry and Wet Commissioning well advanced; Hot Commissioning with ore commencing
o Total project progress of 97% with construction essentially complete
o 2.0 Mt of ore stockpiled to date ahead of schedule; building of crushed ore stockpile starting

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

 “Less than two years after the formal construction decision, TZ is on track to commence gold production imminently, as planned.

 

“This is a testament to the outstanding achievement of our team in executing our proven self-perform approach.

 

“Once at a steady state, TZ is poised to become Brazil’s third-largest primary gold mine.

 

“As we eagerly anticipate commercial production at TZ in the second half of 2024, I look forward to growing G Mining Ventures Corp. using TZ as its cornerstone asset.”
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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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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.

.

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 are focused on the high-grade South Austin Zone, which currently contains anIndicated mineral resource of 474,600 ounces grading 8.7 grams per tonne gold .

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American Creek  (TSX.V: AMK)

Announced that it has entered into a non-binding and arm’s length letter of intent dated June 5, 2024 with Cunningham Mining Ltd., to engage in due diligence and negotiations regarding the terms of a proposed transaction whereby Cunningham, or a subsidiary of Cunningham, would acquire all of the issued and outstanding securities of the Company. 

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Mining Review 9th June 2024

It was an eventful week for Calibre Mining, reporting good drill results near their Valentine gold project in Newfoundland, and a “partial slope movement” at their mine in Nicaragua. It was the latter than the market focused on.

We have to hope that this can be contained and repaired without serious incident.

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City Investors Circle Mining Review 9th June 2024

It was an eventful week for Calibre Mining, reporting good drill results near their Valentine gold project in Newfoundland, and then a “partial slope movement” at their mine in Nicaragua. It was the latter than the market focused on.

We have to hope that this can be contained and repaired without serious incident, but the share price fell as investors became nervous. this will act as a drag on the price until, hopefully, the company comfirms the problem has been resolved. 

Thesis Gold reported some very positive metallurgical testing and gold and silver recovery values for their Lawyers-Ranch project in northern B.C.

Barton Gold reported good progress at their  7,000m drill program, where highlighted samples have been sent for expedited assessment.

The week’s news releases for stocks on our watchlists are listed below, click on the link to be taken to the full story.

  West Red Lake Gold Mines Outlined the 2024 Madsen Mine Plans

  Calibre Mining Found New Gold Mineralisation At Valentine

  Thesis Gold gave Positive Metallurgical Tests for Lawyers-Ranch 

  Calibre Mining Reported a Partial Slope Movement at Limon Norte

  Barton Gold Tarcoola Goldfield Drilling Update

  Wesdome Gold Reported Q1 2024 Financial Results

  Mining Review 2nd June 2024

Click here to view all historical archive reports

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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

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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.

.

.

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

Outlined some of the key mine infrastructure and development projects the Company plans to undertake at the Madsen Mine in the near to medium term with the funds from its recent financings.

West Red Lake Gold has a goal to restart the high-grade Madsen gold mine in the second half of 2025.

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Calibre Mining (TSX: CXB)

Announced drill results from its 2024 exploration program within its Valentine Gold Mine complex in Newfoundland & Labrador, Canada.

Today’s results are located immediately southwest of the Leprechaun deposit, on the edge of the open pit (2022 Mineral Reserves of 15.1Mt grading 1.73 g/t gold containing 0.84 Moz).

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Calibre Mining Valentine mine construction

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CALIBRE CONTINUES TO DISCOVER ADDITIONAL GOLD MINERALIZATION AT THE VALENTINE GOLD MINE DEMONSTRATING UPSIDE POTENTIAL

Thesis Gold (TSX.V: TAU)

Announced the successful completion of preliminary metallurgical testing at the Lawyers-Ranch Project.  

This testing aims to assess the economics of an expanded project that integrates high-grade feed from Ranch and higher-grade underground material to a processing site at Lawyers.

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Thesis Gold Receives Positive Metallurgical Tests Results for Lawyers-Ranch Project: Achieves Average Precious Metal Recovery of 95% for Gold and 92% for Silver

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Vancouver, British Columbia — (June 5, 2024) – Thesis Gold Inc. (“Thesis” or the “Company”) (TSX.V: TAU | WKN: A3EP87 | OTCQX: THSGF) is pleased to announce the successful completion of preliminary metallurgical testing at the Company’s 100% owned Lawyers-Ranch Project.  

This testing aims to assess the economics of an expanded project that integrates high-grade feed from Ranch and higher-grade underground material to a processing site at Lawyers.

The program was designed based on the updated Mineral Resource Estimate from May 1, 2024 (link to news release).

The Project is road-accessible and forms a contiguous, 495 km² land package in the prolific Toodoggone Mining District in northern British Columbia.

 The metallurgical results will be used as part of an updated preliminary economic assessment of the project, scheduled for Q3-2024.  

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Metallurgical Testing Highlights:
 

• Process Flowsheet Development: with gravity pretreatment, flotation, and leaching of secondary concentrate and float tails.  The overall recovery range was 93% to 96% for gold and 86% to 96% for silver, demonstrating excellent extraction potential.
• Gravity Pretreatment: Recovery ranged from 20 to 38% for gold, and 2 to 10% of silver at grades exceeding 360 g/t Au and 1190 g/t Ag, which is suitable for onsite doré production.
• Primary Flotation Concentrate: Recovery ranging from 40% to 65% of gold producing a concentrate grade exceeding 160 g/t Au and 55% to 78% recovery for silver with a concentrate grade of over 5,000 g/t Ag.
• Leaching: of a secondary float concentrate and the float tailing, scavenged an additional 8-20% of gold and 12-24% of silver.

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Dr. Ewan Webster, Thesis Gold President and CEO, commented

“The excellent metallurgical results from the combined Lawyers-Ranch project highlight not only the high recoveries of 95% for gold and 92% for silver but also the marketable concentrate grades.

 

“These findings, based on blended composites from potential mining areas, provide a strong foundation for the upcoming preliminary economic assessment. 

 

“Given the strength of these results, our continued efforts will be directed towards optimizing capital costs, operating costs, and maximizing payables, rather than addressing fundamental process challenges.”

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To View Thesis Gold’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

.

=======

,

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.

.

Calibre (TSX: CXB)

Reported that on May 25, 2024, a geotechnical incident occurred on the west wall of the Limon Norte Open Pit in Nicaragua.

A change in Limon Norte Open Pit mine sequencing will be required which will negatively impact Q2 2024 gold production.

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CALIBRE REPORTS PARTIAL SLOPE MOVEMENT AT THE LIMON NORTE OPEN PIT; FULL YEAR PRODUCTION GUIDANCE MAINTAINED

Barton Gold (ASX:BGD)

Provide an update for the current drilling program in the historical Tarcoola Goldfield.

A ~7,000m RC drilling program began 14 May 2024 to test new structural targets near the Perseverance Mine – where pit floor drilling has recently confirmed high-grade extensions of mineralisation grading up to ~12 g/t Au.

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To view Barton Gold historical news releases, please click here

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Barton Gold Tarcoola Goldfield Drilling Update

Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or the Company) is pleased to provide an update for the current drilling program in the historical Tarcoola Goldfield (Tarcoola).

A ~7,000m RC drilling program began 14 May 2024 to test new structural targets near the Perseverance Mine – where pit floor drilling has recently confirmed high-grade extensions of mineralisation grading up to ~12 g/t Au – and priority targets to the west including Tolmer, Mulgathing and Warburton.

A total of 3,126m RC drilling has now been completed across the School, Old Flame and Perseverance North targets (on Mining Lease 6455, see Figure 2 next page), and at the Tolmer target.

Barton is trialling in-field applications of Portable PPB’s DetectOreTM technology, and has now dispatched priority samples to the lab for expedited analysis by fire assay based upon preliminary in-field analyses.

Drilling has now paused for approximately two weeks’ time, following which the balance of the program will be completed, including further drilling on the Tolmer, Mulgathing and Warburton targets.

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HIGHLIGHTS

• ~3,126m reverse circulation (RC) drilling completed to-date, priority assay samples dispatched
• Targeting high-grade mineralisation in newly identified structural targets surrounding the Perseverance Mine, where assays have recently confirmed high-grade pit floor extensions.

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Commenting on the Tarcoola drilling program, Barton M.D. Alex Scanlon said:

“Our exploration team and drilling contractor have done an excellent job so far with this program, maintaining a production rate of over 200 metres per day on average despite the challenges of drilling through quartzites.

“We anticipate another 3 – 4 weeks of drilling will complete this initial ~7,000m test of certain newly predicted structural targets, with drilling to re-commence after a 2 week break for the drilling and exploration teams.

“We have expedited sample dispatch and assays for several hundred metres of this first round of drilling, and our geology team is busy remodelling pit floor mineralisation in the Perseverance Mine.

 

“Our objective for Tarcoola this year is a steady flow of drilling, analysis, and follow-up to pursue high-grade mineralisation.”

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To view Barton Gold historical news releases, 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 Barton Gold Holdings.

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Wesdome Gold (TSX: WDO)

Announced its results for the three months ended March 31, 2024 (“Q1 2024”).

Consolidated gold production was 33,322 ounces at cash costs per Oz of US$1,125) and AISC per ounce of US$1,650.

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Wesdome Gold – Mine location map

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Mining Review 2nd June 2024

A quiet week news wise, the main news being Anglo American rebutting BHP’s offer for the company.

G Mining and Calibre Mining both published positive project construction updates.

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Impact Minerals – Drilling at Lake Hope HPA project.

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Mining Review 2nd June 2024

A quiet week news wise, the main news being Anglo American rebutting BHP’s offer for the company.

G Mining and Calibre Mining both published positive project construction updates.

The Monthly Review has just been published, so all the news for the month is contained there.  To read the Monthly Review, please click HERE

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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

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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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Cabral Gold Inc. (TSX.V: CBR)

Provided an update of the ongoing trial-mining prefeasibility study (PFS) regarding the potential exploitation of near-surface gold-in-oxide mineralization at both the Central and MG gold deposits within the Cuiú Cuiú gold district in northern Brazil.

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Cabral Gold Provides Update on Prefeasibility Study at Cuiú Cuiú Gold Project, Brazil

16th May 2024

Monthly Review May 2024

Has been published by City Investors Circle.

The highlighted company is Ora Banda Mining, and featured companies include Aris Mining and Karora Resources, plus a potential takeover target in Australia.

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G Mining’s TZ project vista, Tapajos, Brazil.

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City Investors Circle Monthly Review May 2024

The highlighted company is Ora Banda Mining, in production in Western Australia, looking ot increase gold production  from 70,000 Oz PA to 100,000 Oz PA in 2025.

Ora banda has a 110 KM trend with a “string of pearls” of targets, and are looking to pivot to underground mining for higher grades and lower costs.

AISC is around A$2,400, and the gold price in Australia is currently A$3,550, so plenty of cashflow to expand exploration and develop their other projects..

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Other featured companies include Aris Mining and Karora Resources, plus a potential takeover target rumour from Australia..

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Precious and industrial metal prices in May were virtually all positive, and we list the gainers and very few losers monthly changes..

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All the company news from May 2024 is listed below, please click on the link to be taken to the full story on the website.chives

To subscribe to receive our complimentary monthly newsletter and invitations

to our free to attend events,

please email andrew@city-investors-circle.com

American Creek Resources (TSX.V: AMK)

Announced that project operator and JV partner Tudor Gold has filed the technical report for the updated Mineral Resource Estimate on the Goldstorm Deposit  at the flagship Treaty Creek Project located in the Golden Triangle region of British Columbia.

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G Mining Ventures  (TSX: GMIN)

Updated on progress made at GMIN’s 100%-owned Tocantinzinho Gold Project currently under construction in the State of Pará, Brazil.

The Project is 93% complete, and remains on track and on budget for commercial production in H2-2024.

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G Mining Positive Update on the TZ Project

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BROSSARD, QC, May 27, 2024 – G Mining Ventures Corp. (“GMIN” or the “Corporation”) (TSX: GMIN) (OTCQX: GMINF) is pleased to provide an update on progress made at GMIN’s 100%-owned Tocantinzinho Gold Project (“TZ” or the “Project”) currently under construction in the State of Pará, Brazil.

With the spot gold price trading close to $2,400/oz (LBMA Gold Price as at May 21, 2024), the Project is 93% complete and remains on track and on budget for commercial production in H2-2024.

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G Mining Ventures Provides Tocantinzinho Project Update

All amounts are in USD unless stated otherwise
o Project remains on schedule and on budget for commercial production in H2-2024
o Total project progress of 93% with construction 95% complete
o Total spend of $447 million (98% of project total)
o Industry leading safety record, with LTIFR of 0.04 after 5.2 million person-hours worked
o 1.5 Mt of ore at 0.85 g/t stockpiled to date ahead of schedule
o Site energized on the national grid with all balance of plant infrastructure commissioned; process plant
commissioning in focus and progressing according to the plan and schedule

Recent Highlights

(All updates are dated as of April 30th, 2024, unless stated otherwise.)

o Health & Safety – Industry leading safety record of Lost Time Incident Frequency Rate (“LTIFR”) of 0.04, and Total Recordable Incident Frequency Rate (“TRIFR”) of 0.31 after a total of 5,174,356 person-hours worked.
o Budget – Total spend to date of $447 million with open commitments of $11 million for a total committed to date of $458 million and are tracking in line with the Feasibility Study (defined hereafter).
o Schedule –Total Project is currently 93% complete and trending on time for commercial production in H2-24.
o Construction Progress – Construction is 95% complete, with favourable project-to-date productivity factor of 1.14. Mill installation is imminently mechanically complete.
o Pre-production Mining – Pre-production mining continues to progress above budget, having excavated 12.4 million tonnes (“Mt”) of material from the starter pit, including 1.5 Mt of ore to the stockpile.
o Powerline – 193-km 138 kV transmission line from Novo Progresso to TZ and associated substations are complete and energized.
o Operational Readiness – All operations personnel hired, training ongoing, consumables/inventory parts procured.
o Human Resources – 1,507 employees and contractors are currently employed by the Project, after peaking at 2,220 in August 2023. Reductions are mainly in earthworks, civil, structural, architectural and site services.

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Site Drone Footage – Recent aerial drone footage of the site can be found 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

.

=======

,

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.

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