Neometals (ASX / AIM: NMT)

Announced it has secured an option, expiring 31 August 2024 to acquire an 80% equity interest of US business, Precious Metals Recovery, LLC.

PMR operates a pilot plant which demonstrates its proprietary hydrometallurgical processing flowsheet to recover precious metals from industrial waste streams.

.

.

.

.

——-

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 no shares in Neometals.

.

West Red Lake Gold (TSX.V: WRLG)

Announced the appointment of Gwen Preston to the position of Vice President Investor Relations.

Gwen Preston brings over 16 years of experience in the resource sector as a highly regarded and accomplished newsletter writer and speaker.

.

.

Comment

I have always though West Red Lake were a bit too promotional, and now we get the news that a newsletter writer, Gwen Preston, is joining WRLG as an IR person!

They promoted hard last year, and the stock was recently above CAD$1, but it’s slipped back to the mid 60 cent range after the recent raise and “resources not reserves” news release correction, so it looks as though they are about to start promoting hard again.

Only time will tell whether this move will pay off.

.

.

Aris Mining (TSX: ARIS)

Has entered into a binding agreement with MDC Industry Holding Company LLC, whereby, subject to certain customary conditions, Aris Mining will acquire an additional 31% JV interest in the Soto Norte gold-copper project in Colombia and amend the current JV Agreement to account for this change in ownership.

ARIS MINING TO INCREASE OWNERSHIP IN SOTO NORTE PROJECT TO 51% AND COMMENCES STUDY TO ASSESS NEW DEVELOPMENT PLAN

/

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 Aris Mining.

To read our full terms and conditions, please click HERE

Cornish Metals (TSX.V / AIM: CUSN)

.

.

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.

Highlights included 37.33 g/t Au over 2.79m and 5.26 g/t Au over 9.0m at North Austin Zone. 

.

.

.

Neometals (ASX / AIM: NMT)

Announced the commencement of the final Electrolysis stage of a pilot test work
program by Reed Advanced Materials Pty Ltd.

RAM, the 70:30 Neometals incorporated joint venture, with Mineral Resources Ltd, is commercialising its proprietary ELi™ Process.

.

Neometals ELi process explained

Neometals Final Stage of ELi™ Pilot Trial Commences

Neometals Ltd (ASX: NMT & AIM: NMT) (“Neometals” or “the Company”), is pleased to announce the commencement of the final Electrolysis stage of a pilot test work
program (“Electrolysis Pilot”) by Reed Advanced Materials Pty Ltd (“RAM”). RAM, the 70:30 Neometals incorporated joint venture, with Mineral Resources Ltd, is commercialising its proprietary ELi™ Process (“ELi™”).

ELi™ uses electricity to convert lithium chloride solutions into lithium hydroxide monohydrate (“Primary Product”) in a conventional chlor-alkali cell, replacing large volumes of reagents required in the industry standard, chemical precipitation flowsheet. ELi™ has the potential to deliver users a step-change in operating costs.

Highlights:

• Final Electrolysis stage of ELi™ Process pilot trials has commenced in Canada at NESi, the testing facility of electrolyser vendor, NORAM;
• The test work will electrolyse a purified lithium chloride solution from an operating South American brine source and produce lithium hydroxide as the primary product; and
• The long-duration (1000hr) component of the trial will provide data confirming expected power consumption, membrane life and product quality to support ongoing technology licensing activities.

.

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 no shares in Neometals.

.

Impact Minerals (ASX:IPT)

Advised that it has received firm commitments from sophisticated investors for a strategic placement to raise A$3,000,000 (before costs) via the issue of 150,000,000 fully paid ordinary shares in the capital of the Company at an issue price of A$0.02 per Placement Share. 

.

.

.

Impact funded to complete Pre–Feasibility Study at the Lake Hope High Purity Alumina Project, WA

May 17, 2024

Impact Minerals Limited (ASX:IPT) (Company) is pleased to advise that it has received firm commitments from sophisticated investors for a strategic placement (Placement) to raise A$3,000,000 (before costs) via the issue of 150,000,000 fully paid ordinary shares (Placement Shares) in the capital of the Company (Shares) at an issue price of A$0.02 per Placement Share.

For every three Placement Shares subscribed for, one free–attaching option will be issued with an exercise price of $0.027 per option and an expiry
date that is 15 months after the date of issue (Placement Options).

Major shareholders strongly supported the placement, an endorsement of the Company’s future strategic plans.

Highlights

• Strategic A$3 million placement mostly supported by major shareholders to be issued under the Company’s existing available placement capacity under ASX Listing Rule 7.1.
• In addition, funds being received from exercise of listed options (IPTOB) into shares.
• Anticipated Research and Development Rebate of $395,000 due shortly.

.

Impact Minerals’ Managing Director Dr Mike Jones, said,

“We are now very well–funded to complete the Pre–Feasibility Study on our unique Lake Hope High Purity Alumina Project located here in Western Australia by the end of this year.

“We have deliberately placed most of the shares to our major shareholders which is a strong endorsement of our plan to move forward as quickly as possible with Lake
Hope and we thank them for their support.

“We would also like to thank those new shareholders who have recently exercised our listed IPTOB 2 cent per share options I would like to encourage other holders of IPTOB to consider doing the same before the expiry date of June 2nd.

“As well as the Lake Hope project we will also be able to progress our Arkun battery and strategic metals project for which we recently received up to $180,000 in co–funding from the WA Governments Exploration Incentive Scheme for drilling of our exciting Caligula copper target”

.

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 no shares in Impact Minerals.

.

Happy birthday mum

To read our full terms and conditions, please click HERE

Gold Road Resources (ASX: GOR)

Comments in the Australian media are suggesting Gold Road may have appointed a capital advisor, possibly McQuarie Capital, as a defence advisor, to defend a possible bid for the company.

.

Gold Road – Gruyere JV Gold Mine at night.

.

.

Gold Road Rises on Potential Bid Target Rumours

Gold Road Resources (ASX: GOR) has become the subject of speculation in the Australian media, where The Australian is suggesting that it may have appointed a capital advisor, possibly Macquarie Capital, as a defence advisor, to defend a possible bid for the company.

The share price rose over 5% in trading on the ASX on Monday as investors reacted to the speculation.

Given the success of Gold Road’s JV with Gold Fields at Gruyere, their significant cash holding, plus a 17% shareholding in De Grey Mining, and another in IGO, it is not a surprise to me that it may be a potential bid target. The only surprise for me is that it has not happened before.

The most obvious suitor would be, in my opinion, Gold Fields themselves, as it would give them 100% ownership of Gruyere, plus the large exploration package surrounding the mine currently owned 100% by Gold Road.

There could of course be others enviously looking at the attractive package of cash in the bank, the free cashflow being generated from Gruyere, plus the value of their shareholdings in De Grey and IGO.

Interestingly Gold Road was involved in a bid to purchase 40% of the Greenstone Mine in Canada very recently, and one wonders whether that may have been an attempt to deter a bid for themselves?

——-

There is clearly a lag between the rising price of gold and the value of the gold producers themselves, which seems to have given some urgency to companies in a position to make opportunistic bids before the gold producers’ valuations start to catch up.

The rumours regarding a potential bid for Gold Road seem to fall into that category, in my opinion.

The next few weeks may be interesting.

.

——-

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

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

.

Orla Mining (TSX: OLA)

Announced good results for the first quarter ended March 31, 2024.

Q1 gold production was 33,223 ounces and gold sold was 32,046 ounces, and AISC¹ were $909 per ounce of gold sold.

.

.

.

.

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.

.

Mining Review 19th May 2024

Gold recorded its highest ever (nominal) price this week, $2,413!  Silver also shot up, outpacing gold in percentage terms, and closed at $31.46.

Cornish Metals’ share price was pummelled, forcing a “we know of no reason” RNS from the company, which hardly helped.

.

Calibre Mining – El Limon Mine, Nicaragua

.

City Investors Circle Mining Review 19th May 2024

Gold recorded its highest ever (nominal) price this week, $2,413!  This needs to be compared to the inflation adjusted record price for gold, which is equal to over US$3,300, so we still have a way to go to reach that high point.

Silver also shot up, outpacing gold in percentage terms, and closed at $31.46.

The gold silver ratio fell over 8% during the week.

Base metals are also strongly up with a “copper squeeze” taking place at the NY Comex, forcing traders to desperately look for scarce physical supply for delivery, forcing the price higher.

The disconnect or “gap” between the London LME copper price and the Comex price was over $1,000 earlier this week, and is still around half that, which is without precedent.

The price of manganese is soaring, up around 25% last week, after a rail incident in Gabon temporaily prevented exports from their port, and a cyclone incident in Australia preventing exports at the same time.

——-

Cornish Metals’ share price was pummelled, forcing a “ we know of no reason” RNS from the company which hardly helped in the UK, but did in Canada after the UK closed, trading over 28 million shares, or around C$2.8 million in a single trading day! Normal daily volumes are a fraction of that.

I strongly suspect that there is some bad news lurking somewhere, or the company are trying to raise funds, and the book building has not gone well.

Having announced they know of no reason, management cannot now release bad news straight away of course, but there is clearly a reason why the stock has sold off so dramatically in recent days. I suspect the market will remain spooked until the reason for the fall becomes apparent.

I still wonder about the reason for the sudden resignation of CEO Richard Williams in March?

——-

Looking at the news generated from our watchlist this week, it was mainly Q1 reporting, but the main story was that West Red Lake Gold Mines had to clarify they have resources and not reserves at Madsen, a very embarrassing thing to have to admit.

The price, recently over C$1, is now back in the mid 60 cent range, and you wonder how much confidence has been lost in management? I still haven’t bought despite intending to, as I don’t like chasing a share price, and I’m relieved I didn’t now!

This was on the back of the Red Pine scandal where the former CEO has been accused of “manipulating drill results before updating the company database“, see HERE.

This is similar to Bre-X, and I’m shocked this can still occur after all the checks that were supposed to be in place post that scandal. Surely the geologists should also have received the results and scrutinised them at the same time as the CEO?

I’m surprised this has not attracted more media attention, I guess the exchange doesn’t want this destrying confidence in the market and 43-101 process.

All news from our watchlist companies is below, click on the links to read the full story.

  Aris Mining Reported Q1 2024 Results, $13.8 M Cash Flow

  Cornish Metals’ Response To Share Price Movement

  Calibre Mining Reported Strong Progress At Valentine

  I-80 Gold Reported Q1 2024 Operating Results

  Karora Reported Record Revenue and Strong Cashflow in Q1

  West Red Lake Gold Clarified Madsen Has Resources, not Reserves

  Mining Review 12th May 2024

.

——-

Market Data

Weekly price changes

(US$ unless stated)

.

.

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.

.

.

Aris Mining (TSX: ARIS)

Announced its full financial and operating results for the three months ended March 31, 2024(Q1 2024).

Aris announced that it is on track to deliver full-year 2024 guidance while its expansion projects advance in a news release datedApril 15, 2024.

.

.

.

ARIS MINING REPORTS Q1 2024 RESULTS WITH SEGOVIA GENERATING $13.8 MILLION IN OPERATING CASH FLOW

.

Cornish Metals (AIM / TSX.V: CUSN)

Notes the recent decline in its share price and confirms it is unaware of any operational or corporate reason for the price movement.

On April 30, 2024 the Company reported a positive independent Preliminary Economic Assessment for its 100% owned South Crofty tin project located in Cornwall. 

.

.

.

Cornish Metals Inc. CORNISH METALS’ RESPONSE TO SHARE PRICE MOVEMENT

17/05/2024 7:15am

RNS Regulatory News

Calibre Mining (TSX: CXB)

Announced a construction and capital cost update on the Valentine Gold Mine , located in the central region of Newfoundland & Labrador, Canada.

Progress at the Valentine Mine is 64% construction complete, on track for production in Q2 2025.

.

,

.

CALIBRE CONTINUES STRONG PROGRESS AT THE FULLY FUNDED VALENTINE GOLD MINE; CONSTRUCTION 64% COMPLETE, ENGINEERING 98% COMPLETE, OPERATIONAL LEADERSHIP HIRED, PRE-COMMISSIONING UNDERWAY, ON TRACK FOR Q2 2025 GOLD PRODUCTION

/

i-80 GOLD CORP. (TSX:IAU)

Reported its operating and financial results for the three months ended March 31, 2024.

.

i-80 Gold Ruby Hill Mine, Nevada, USA

.

.

I-80 Gold Reports Q1 2024 Operating Results

.

Reno, Nevada, May 13, 2024 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”, or the “Company”) reports its operating and financial results for the three months ended March 31, 2024. i-80’s unaudited condensed consolidated interim financial statements (“Financial Statements”), as well as i-80’s Management’s Discussion and Analysis of Operations and Financial Condition (“MD&A”) for the three months ended March 31, 2024, are available on the Company’s website at www.i80gold.com, on SEDAR+ at www.sedarplus.ca, and on EDGAR at www.sec.gov.

Unless otherwise stated, all amounts referred to herein are in U.S. dollars (C$ represents Canadian dollars).

2024 FIRST QUARTER HIGHLIGHTS

• Gold sales of 2,486 ounces at a realized gold price of $2,083 per ounce sold¹.
• 10,167 tons of mineralized material sold for total revenues of $3.2 million.
• Continued drilling of polymetallic mineralization at the Ruby Hill mine (4,032 feet).
• Continued underground core drilling delineation of the CSD Gap and Helen zones at the McCoy-Cove project (3,594 feet).
• Completed non-brokered private placement of common shares for aggregate gross proceeds of C$23.5 million.
• March 31, 2024 cash balance of $13.1 million and $39.0 million in restricted cash.

RECENT DEVELOPMENTS

Bought Deal Public Offering

On May 1, 2024, the Company completed a bought deal public offering of an aggregate of 69,698,050 units (each, a “Unit“) at a price of C$1.65 per Unit for aggregate gross proceeds to the Company of approximately C$115 million (the “Offering“).

Each unit consisted of one common share of the Company and one-half of one common share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant“).

Each Warrant is exercisable to acquire one common share for a period of 48 months from closing of the Offering at an exercise price of C$2.15 per share.  The Offering was completed pursuant to a short form prospectus dated April 25, 2024 (the “Prospectus“).

.

Ryan Snow, Chief Financial Officer of i-80 Gold stated 

“The extension of the delivery requirements under the gold prepay and silver purchase agreements with Orion Mine Finance  coupled with the recently completed bought deal public Offering, significantly enhance our financial flexibility and positions the Company to continue to execute on its plans.

 

“We continue to advance exploration and definition drilling at Granite Creek and McCoy-Cove and permitting activities at our projects allowing the Company to advance our projects towards the ultimate goal of building a mid-tier Nevada focused producer.”

.

——-

.

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 no shares in i-80 Gold.

.

Karora Resources (TSX: KRR)

Announced financial and operating results for the Q1 2024. The Company’s unaudited condensed interim financial statements and MD&A are posted on SEDAR.

The company recorded record revenue despite a rain affected quarter causing production to fall 9%. AISC remain on track for 2024 guidance.

.

.

KARORA REPORTS RECORD REVENUE AND STRONG CASH FLOW FOR Q1 2024

TORONTO, May 13, 2024 /CNW/ –Karora Resources Inc.(TSX: KRR) (“Karora” or the “Company”) today announced financial and operating results for the first quarter of 2024 (“Q1 2024”).

The Company’s unaudited condensed interim financial statements and management discussion & analysis (“MD&A) are available on SEDAR at www.sedarplus.ca and on the Company’s website at www.karoraresources.com. All dollar amounts are in Canadian dollars, unless otherwise noted.

.

FIRST QUARTER 2024 HIGHLIGHTS

.

GOLD PRODUCTION AND SALES

• Pre reported Q1 2024 production of 36,147 gold ounces decreased 9% from 39,827 ounces in the first quarter of 2023, and 10% compared to production of 40,295 ounces in the fourth quarter of 2023 (“the previous quarter”). Production was negatively impacted by wet weather experienced across all three operating sites during the quarter and a regional interruption to state grid power impacting the Lakewood mill and Beta Hunt mine, affecting gold ounces produced. Gold sales for Q1 2024 were strong at 40,343 ounces, an increase of 12% compared to Q1 2023 and 8% higher than the previous quarter.

.

COSTS ON TRACK TO ACHEIVE WITH 2024 GUIDANCE

• Cash operating costs¹ and AISC¹ per ounce sold for Q1 2024 averaged US$1,193 and US$1,285, respectively, versus US$1,272 and US$1,435, respectively, for Q4 2023. The lower costs compared to the prior quarter primarily reflects the impact of higher nickel by-product credits ($2.91 million or US$54/oz nickel by-product credits in the current quarter compared to $0.3 million US$5/oz for the final quarter of 2023). The higher by-product credits reflect recommencement of nickel sales in the first quarter.

.

RECORD QUARTERLY REVENUE

• Revenue in Q1 2024 totaled $115.5 million, a new quarterly record for the Company and 19% higher than the first quarter of 2023 and 14% from the previous quarter. The increase compared to both prior quarters reflected higher realized gold price and higher sales volumes.

.

SOLID OPERATING CASH FLOW GENERATION

• Q1 2024 cash flow provided by operating activities of $42.6 million versus $20.9 million in the first quarter of 2023 and $32.1 million the previous quarter, driven by the improved gold sales volume and realized price.
• Cash at March 31, 2024 of $87.3 million was an increase of $4.8 million or 6% from $82.5 million at December 31, 2023.

.

EARNINGS PERFORMANCE

• Net earnings for Q1 2024 of $2.1 million ($0.01 per share) compared to net loss of $2.9 million ($0.02 per share) for the same period in 2023 and net loss of $1.7 million ($0.01 per share) in the fourth quarter of 2023. The first quarter of 2024 was impacted by a non-cash $6.3 million loss on derivatives and $5.0 million foreign exchange loss.
• Adjusted earnings¹ for Q1 2024 of $13.3 million ($0.07 per share) compared to $4.8 million (0.03 per share) in the first quarter of 2023 and $3.3 million ($0.02 per share) for the previous quarter, reflecting higher sales volumes and prices as noted above.
• Adjusted EBITDA^1,2 for Q1 2024 of $40.5 million ($0.23 per share) was an increase of 42% from $28.6 million in the first quarter of 2023 and 63% higher than the $24.9 million in the fourth quarter of 2023.

Gold Road Resources (ASX: GOR)

Gold Road has announced its intention to participate in the De Grey Mining Financing announced recently.

It will participate for only A$50.8, million, which dilutes its percentage holding by around 2.9%.

.

Gold Road Resources Gruyere Gold Mine at night

.

Gold Road Lowers De Grey Mining percentage Stake

/Gold Road Resources (ASX: GOR) has announced its intention to participate in the De Grey Mining A$600 million financing announced recently.

But, It will participate for only A$50.8, million, which will dilute its percentage holding by around 2.9% to just over 17%.

Although Gold Road boasts a treasury of some A$146 million, it would have needed to invest A$119 million to maintain its 19.9% stake in De Grey.

This suggests they might possibly have another investment in mind, as they recently failed to purchase a 40% stake in the Greenstone Gold Mine in Canada, and may already have a plan B.

At the current price of Gold, the De Grey Hemi mine will repaid in around two years.

Hemi, once built, will be in the top 5 largest Australian gold mines.

.

——-

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 no shares in Gold Road Resources.

.

West Red Lake Gold (TSX.V: WRLG) 

Reported drill results from its Madsen Mine located in the Red Lake Gold District of NW Ontario, Canada.

The drill results are focused on the high-grade South Austin Zone, which currently contains an Indicated mineral resource of 474,600 ounces of gold grading 8.7 gpt.

.

.

.

Calibre Mining (TSX: CXB)

Will provide an update on its 100% owned, fully funded Valentine Gold Mine located in Newfoundland & Labrador, Canada on Wednesday May 15, 2024.

Valentine remains on track to reach production during H1, 2025.

.

Calibre Mining Valentine mine construction

CALIBRE TO PROVIDE AN UPDATE ON THE VALENTINE GOLD MINE AND HOST ITS FIRST QUARTER 2024 FINANCIAL RESULTS CONFERENCE CALL ON WEDNESDAY, MAY 15, 2024

Karora Resources (TSX: KRR)

Released a joint presentation with Westgold explaining the dynamics of their proposed agreed merger.

The new company will be well financed and a 400,000 Oz Au PA gold producer, with exploration potential.

/

.

.

Karora Resources and Westgold Merger Presentation

.

Karora Resources (TSX: KRR) released a joint presentation with Westgold explaining the dynamics of their proposed agreed merger.

The new company will be well financed and a 400,000 Oz Au PA gold producer, with exploration potential.

The new company will be listed on both the ASX and TSX.

The merger should be completed by mid-June.

/

——-

To view the merger presentation video, 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 Karora Resources.

.

Gold Road Resources (ASX: GOR)

Released an updated presentation for the results quarter ended March 2024.

Production and AISC were effected by torrential rain closing the Gruyere access road.

.

Gold Road Resources – Gruyere Mine access road flooded

.

.

Gold Road Resources March 2024 Results Presentation

.

Gold Road Resources (ASX: GOR)

Released an updated presentation for the results quarter ended March 2024.

Production and AISC were effected by torrential rain closing the Gruyere access road.

.

——-

.

Gold Road Resources Company Profile

Gold Road is a mid-tier Australian gold producer and explorer with a Tier 1 mine and exploration projects across Western Australia, South Australia and Queensland covering more than 14,000 square kilometres.

Gold Road owns 50% of the world-class Gruyere gold mine, which was developed in joint venture with Gold Fields Ltd and produced first gold in June 2019.

Since then the Gruyere JV has produced 918,479 ounces (100% basis) to 31 December 2022.

As one of Australia’s largest and most cost-efficient gold mining operations, the Gruyere JV sources all its ore from a single open pit mine, projecting a mine life extending to 2032.

The Gruyere JV hosts considerable Open Pit Mineral Resources of 6.69 million ounces and Ore Reserves of 4.05 million ounces (100% basis).

.

To view the presentation, 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 Gold Road Resources.

.