Gold Road Resources (ASX: GOR)

Notes Gold Fields Limited market announcement of 24 March 2025 and confirms it has received, considered and subsequently rejected an opportunistic, conditional and non-binding indicative proposal from Gold Fields.

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Gruyere Mine, courtesy of Gold Road Resources.

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Comment

This looks a vey opportunistic offer given the timing so soon after the downgrade in guidance due to mechanical issues at the Gruyere mine.

Worth just over A$3.05 at current market prices, the offer is at a decent premium, but I have held this stock for over twelve years and I would vote down the offer personally.

I wonder if they will come back with a more attractive offer?  If they offered a minimum of A$3.50 I would be happy to sell for that now and reinvest the profits into other Austrlian producers, there are quite a few that are looking promising at the current gold price.

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GOLD ROAD RESOURCES RECEIPT AND REJECTION OF NON-BINDING INDICATIVE OFFER FROM GOLD FIELDS

Gold Road Resources Ltd (ASX: GOR) (Gold Road or the Company) notes Gold Fields Limited (Gold Fields) market announcement of 24 March 2025 and confirms it has received, considered and subsequently rejected an opportunistic, conditional and non-binding indicative proposal from Gold Fields (the Offer).

The Offer, received after market close on 7 March 2025, contemplated an acquisition of 100 percent of the shares on issue in Gold Road, by way of scheme of arrangement (the Proposed Transaction) for A$2.27 cash per share plus a variable cash amount equal to the proportionate value of each Gold Road shareholder’s interest in the shares that Gold Road holds in De Grey Mining Ltd.

After careful consideration and engagement with Gold Fields, the Gold Road Board unanimously formed the view that the Offer materially under values Gold Road and is highly opportunistic in nature.

Gold Road notes that the receipt of the Offer coincided with a lower March 2025 quarter
production due to maintenance on the primary crusher and the failure of two conveyor belts (announced to ASX on 18 March 2025).

Gold Fields is the Manager of the Gruyere Joint Venture.

Further, the Offer appears to have been opportunistically tabled by Gold Fields in advance of the completion of exploration and studies into the potential underground expansion of the Gruyeren mine.

An 18-month drilling program to confirm that the Gruyere orebody extends at depth, with the results of that program being material to properly understanding the potential upside value of Gruyere.

The Offer attributes no value at all to the potential underground expansion of the Gruyere mine. As such, the Gold Road Board formed the view that it is not in the best interest of its shareholders to accept the Offer and rejected the Offer on 14 March 2025.

Gold Road tabled an alternative proposal to acquire Gold Fields’ interest in the Gruyere Joint Venture (Gruyere) (the Gold Road Counterproposal).

The Gold Road Counterproposal for Gruyere was rejected by Gold Fields.

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A press release from Australia detailing the reasons for the rejection can be read HERE.

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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 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.

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 Gold Road Resources

.

Catalyst Metals Limited (ASX: CYL)

Suspension from Quotation

The securities of Catalyst Metals Limited (‘CYL’) will be suspended from quotation immediately under Listing Rule 17.2, at the request of CYL.

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Comment

This looks like a really interesting and positive announcement is coming.

“Pending the release of an announcement in relation to material assay results from a diamond drilling programme“ suggests to me this announcement is going to be worth waiting for.

The presumed delay to the announcement is to allow the company to recalculate their resources.

The stock is suspended until the 26th March, I’ll be waiting up for the market open to read it!

/

Catalyst Metals Limited (ASX: CYL) – Suspension from Quotation

Description

The securities of Catalyst Metals Limited (‘CYL’) will be suspended from quotation immediately under Listing Rule 17.2, at the request of CYL, pending the release of an announcement in relation to material assay results from a diamond drilling programme at the Trident project.

Issued by

ASX Compliance

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To read the full news release please click HERE

The live Spot 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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=======

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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 Catalyst Metals. 

.

To read our full terms and conditions, please click HERE

.

Catalyst Metals (ASX: CYL)

Has agreed to sell its Henty Gold Mine In Tasmania to Kaiser Reef (ASX:KAU). This streamlines its asset portfolio to focus on core projects.

Catalyst has retained exposure to Henty’s upside while backing a new management team which will have greater focus on operational execution.

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Henty Gold Mine – Tasmania

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Catalyst has retained exposure to Henty’s upside while backing a new management team which will have greater focus on operational execution.

• Catalyst has agreed to sell the Henty gold mine in Tasmania to Kaiser Reef
• The transaction has various value components that in totality appeal to Catalyst
• In exchange for Henty, Catalyst will receive:
o A$15m upfront cash consideration
o A$4m to be reimbursement from environmental bonding payments
o A$14m in deferred gold consideration (3,000oz of future gold production)
o A$14m via an ongoing equity interest (19.99% of the enlarged Kaiser)
o 0.5% NSR royalty on gold produced from the Darwin Extension Target Zone
o An option to acquire 50% interest in a Victorian processing plant situated 100km
from Catalyst’s 26 g/t gold Resource2 at the Four Eagles gold project
• The reasoning behind the transaction for Catalyst is threefold:
o It frees up management’s time to focus on Plutonic and Western Australia
o It backs a new management team at Henty who should be better able to dedicate
the time required to realise Henty’s upside
o Secures a processing solution, and a future, for Catalyst’s Four Eagles gold project in
Victoria in order to create value for our shareholders in an asset that was not being
valued by the broader market
• There are a number of challenges to operating in Victoria. By entering into this option
agreement, Catalyst has, for no cost, solved one of these key hurdles

Recent highlights

Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:

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“Catalyst believes focus is important. 18-months ago, Catalyst committed itself to Western Australia by consolidating the Plutonic Gold Belt. Henty’s operating nature means the timebrequired for it to realise value and upside of Henty was costly.

“This transaction allows Catalyst to focus on Western Australia while still sharing in the upside that can come from a new, more focused, operating team.

 

“The value proposition for Catalyst is compelling due to a novel transaction structure.

“Consideration is in two parts – more easily quantifiable cash and trailing payments and the harder to quantify equity in Kaiser and option over a Victorian mill.

“The equity interest is attractive in this gold price environment while the option to solve a processing problem in Victoria has, we think, considerable value to our shareholders on an asset that is not being valued by the broader market.”

 

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About Catalyst Metals Limited

An Australian gold exploration and production.

The company has established a dominant presence in several prolific gold belts across Australia, focusing on the exploration, development, and operation of gold projects.

Catalyst’s key assets include the Plutonic Gold Mine in Western Australia, and significant exploration projects in Victoria’s Bendigo Goldfields.

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To read the full news release please click HERE

The live Spot 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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=======

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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 Catalyst Metals. 

.

To read our full terms and conditions, please click HERE

.

Wesdome Gold Mines (TSX: WDO)

Announced its results for the three and twelve months ended December 31, 2024.

Record annual revenue: FY 2024 revenue increased by 68% compared to FY 2023 to $558.2M driven by strong Q4 2024 revenue of $182.6M.

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Wesdome Reports Fourth Quarter and Year-End 2024 Financial Results

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Capricorn Metals (ASX: CMM)

Advised that it has closed out all of its remaining 55,000 ounces of gold forward sale hedge contracts with settlement via a bilateral transaction to issue Capricorn shares to Macquarie Bank Limited, the company’s hedging and debt financier.

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Comment

Being a gold bull I detest hedge books, so I welcome this positive move by Capricorn at a time when the gold price is soaring.

With gold hovering around the key $3000 level, which equates to $4713 Australian dollars, this looks a well times move to take advantage of the rising gold price in Australian dollars.

CLOSURE OF GOLD HEDGING PROVIDES CAPRICORN ADDITIONAL GOLD PRICE EXPOSURE & NEAR-TERM CASH FLOW ACCRETION

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Capricorn Metals Limited (ASX: CMM) (Capricorn or the Company) is pleased to advise that it has closed out all of its remaining 55,000 ounces of gold forward sale hedge contracts with settlement via a bilateral transaction to issue Capricorn shares to Macquarie Bank Limited (Macquarie), the company’s hedging and debt financier.

This strategic, modest dilution, equity transaction increases Capricorn’s direct exposure to potential gold price upside while preserving existing cash reserves to fund the development of both the Karlawinda Expansion Project and the Mt Gibson Gold Project.

As part of the closure and to mitigate the downside risk, Capricorn also purchased gold put options covering 50% of the volume and the same maturity as the closed hedge contracts .

The purchased put options give Capricorn the right (but not the obligation) to sell 50% of the previously hedged ounces at a price of A$4,500 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 the closure, purchase of put options and transaction costs was $147 million, and has (other than $7 million paid out of existing cash holdings) been funded through the issuance of approximately 17.7m new fully paid ordinary shares (New Shares) to Capricorn’s debt financier and hedge book counterparty, Macquarie at an issue price of A$7.90 per New Share representing a modest dilution of 4.3% of Capricorn’s existing ordinary shares.

In relation to the closed out 55,000 ounces of hedging, every A$50/oz increase in the gold price above the spot A$ gold price enhances revenue on the previously hedged production by $2.75 million, with the closure expected to be materially accretive to FY26 and FY27 free cash flow

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Capricorn’s Executive Chair, Mark Clark, noted:

“This closure of gold hedging is a continuation of the active hedging management strategy Capricorn has successfully used to enhance revenue and cashflow in a rising gold price environment over the last 2 years.

 

“The bilateral transaction to issue equity to Macquarie to close the hedging has given Capricorn the potential to further enhance future operating cashflow and preserve existing cash holdings for the development of our exciting growth projects at a very modest dilution to current shareholders.”

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——-

To read the full news release please click HERE

.

The live Spot 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 Capricorn Metals

.

To read our full terms and conditions, please click HERE

Galiano Gold  (TSX: GAU)

Reported its fourth quarter and full year 2024 production and financial results.

The Company generated $13.8 million of operating cash flow during Q4 2024 and $55.7 million during FY 2024, which included a $13.1 million payment to terminate the gold sales offtake agreement.

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Awalé Resources (TSX.V: ARIC)

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

Hole OEDD-119 intercepted 52m @ 2.0 grams per tonne gold equivalent from 197m, including 15m @ 3.6 g/t Au, 0.52% Cu.

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Awale Resources booth at PDAC 2025

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Andrew Chubb, CEO of Awalé Resources commented

“We are excited to see continued strong results from BBM, reinforcing the robust gold and copper mineralization at this target.

 

“The 52m at 2.0 g/t AuEq. intercept in hole OEDD-119 confirms the plunging higher-grade core to mineralization, particularly with the consistently higher-grade zone at the footwall contact.

 

“The BBM system remains open down-plunge, and we look forward to additional results from this diamond drilling campaign, as well as from the completed reverse circulation scout drilling, which tested for satellite targets along strike.

 

“BBM continues to demonstrate its potential, supported by the intensive exploration efforts launched at the start of the 2024-2025 dry season, which are now delivering tangible results—not only at BBM but also across multiple high-priority targets.

 

“By systematically advancing these parallel exploration programs, we are unlocking Odienné’s broader potential— where we do not view each of our discoveries individually but as part of a greater camp.” 

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Gold Road Resources (ASX: GOR)

Updated on anticipated production for Gruyere for the March 2025 quarter.

Gruyere gold production for the March 2025 quarter on a 100% basis is anticipated to be between 70,000 – 73,000 ounces of gold (December 2024 quarter: 91,631 ounces).

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GOLD ROAD MARCH 2025 QUARTERLY PRODUCTION GUIDANCE REDUCED

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Gold Road Resources Limited (ASX: GOR) (Gold Road or the Company) presents an update on anticipated production for Gruyere for the March 2025 quarter.

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

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March Quarter Production

 Gruyere gold production for the March 2025 quarter on a 100% basis is anticipated to be between 70,000 – 73,000 ounces of gold (December 2024 quarter: 91,631 ounces).
 Production is anticipated to be below plan due to maintenance on the primary crusher
and the failure of two conveyor belts. The Gruyere JV has investigated the cause of these issues and has developed recovery plans.
 Mining continues to ramp up as planned and is currently at an annualised rate of
approximately 72 Mtpa, with further improvement anticipated.

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2025 Guidance

 2025 annual production and cost guidance is unchanged at 325,000 – 355,000 ounces (162,500 – 177,500 ounces attributable) at an attributable All-in Sustaining Cost (AISC) of between A$2,400 and A$2,600 per ounce
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March Quarterly Report

 Comprehensive reporting, including all production physicals, cost and attributable AISC
will be provided with the fully reconciled production numbers in the quarterly report early
next month.

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To read the full news release, please click HERE

.

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 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.

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

.

=======

,

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

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

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

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

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Disclosure

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

.

Catalyst Metals (ASX: CYL)

Announced first stoping ore at Plutonic East.

Plutonic East is the first of three mines to be developed by Catalyst in its plan to double production across the Plutonic Gold Belt for A$31m over the coming 12-18 months.

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Catalyst Metals – First stoping ore from Plutonic East

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Catalyst continually striving to lower operating risk of Plutonic Belt operations

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Catalyst Metals Limited (ASX:CYL) (Catalyst or the Company) is pleased to announce first stoping ore at Plutonic East.

Plutonic East is the first of three mines to be developed by Catalyst in its plan to double production across the Plutonic Gold Belt for A$31m over the coming 12-18 months
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First stoping ore at Plutonic has been achieved on-time and budget, having been funded through operating cashflows.

The smaller development costs and shorter lead time for Plutonic East’s development reflects the established infrastructure and sunk capital across the Plutonic Gold Belt.

• Plutonic East is a pre-existing underground mine situated 2km from the Plutonic processing plant
• Catalyst began redevelopment activities in April 2024; Catalyst is today pleased to announce first stoping ore
• Plutonic East ore will be processed via the currently underutilised Plutonic processing plant

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• The reasoning behind re-opening Plutonic East was two-fold:
o Firstly, Plutonic’s main ore source is the Plutonic underground mine; at present it is predominantly a remnant mine and by opening up Plutonic East, our operational team will have more ore sources, more mining fronts and therefore lower operating risk; and
o Secondly, the Plutonic Gold Belt has several new mines it plans to open; as a newly formed team, Plutonic East presents a lower risk development proposition and therefore attractive training ground for these other mines 
• Bringing Plutonic East online is Catalyst’s first step in demonstrating its ability to develop the Plutonic Gold Belt

Catalyst acquired the Plutonic Gold Belt 20 months ago. In that time, it has turned Plutonic from loss making to profitable, cleaned up its balance sheet, settled a myriad of inherited legal disputes, is executing on a belt wide 320,000 metre exploration program and has now brought its first of three new mines into operation,

Catalyst will now begin turning its attention to the development of the two next development opportunities on the Plutonic Gold Belt – K2 and Trident

Catalyst’s Managing Director & CEO, James Champion de Crespigny, commented:

“Catalyst’s focus has always been about the long-term value of the Plutonic Gold Belt, not just the Plutonic main underground mine.

 

“Plutonic East coming online is the first step in realising the value of the belt.

 

“It gives more ore sources and more options to our team and lowers the operating risk profile of the business”

.

To read the full news release please click HERE

The live Spot 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 Catalyst Metals. 

.

To read our full terms and conditions, please click HERE

.

Cabral Gold Inc. (TSX.V: CBR)

Released assay results from two surface trenches and eight reverse circulation drill holes at the Machichie Main gold deposit within the Cuiu Cuiu gold district, Brazil.

Surface trench CT051 at Cuiu Cuiu returned 20 metres of 3.6 grams per tonne gold, including four metres of 15.7 g/t gold in gold-in-oxide material at surface.

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CABRAL GOLD TRENCHES 20M @ 3.6 G/T GOLD ON SURFACE AT THE MACHICHIE MAIN GOLD DEPOSIT, CUIU CUIU GOLD DISTRICT, BRAZIL

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Cabral Gold Inc. (TSX.V: CBR) has released assay results from two surface trenches and eight reverse circulation drill holes at the Machichie Main gold deposit within the Cuiu Cuiu gold district, Brazil.

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Highlights:

• Surface trench CT051 at the Machichie Main gold deposit at Cuiu Cuiu returned 20 metres of 3.6 grams per tonne gold, including four metres of 15.7 g/t gold in gold-in-oxide material at surface. The mineralized interval within the trench is open to the north and south. These results confirm the presence of significant higher-grade mineralization within the near-surface gold-in-oxide material at the Machichie Main deposit.
• Surface trench CT052, developed 150 m west of trench CT051, also returned seven m of 0.8 g/t gold. The mineralized interval is again open to the north and south.
• Reverse circulation drill results from Machichie Main include:
  • Four m of 3.9 g/t gold from 36-metre depth including one m of 10.6 g/t gold in RC497;
  • Four m of 3.1 g/t gold from 41-metre depth including one m of 10.6 g/t gold in RC496;
  • Seven m of 1.5 g/t gold from 64-metre depth in RC494;
  • Seven m of 1.2 g/t gold from 78-metre depth in RC495;
  • One m of 9.9 g/t gold from 26-metre depth and one m of 7.3 g/t gold from 37-metre depth in RC503;
  • All of these intercepts were in fresh rock intrusive material below the near-surface gold-in-oxide material.
• Results thus far from the trenches and initial drill holes confirm continuity and grade of the Machichie mineralization along strike and at depth.
• Samples from the trenches are in the process of metallurgical testing to characterize the Machichie oxide zone.

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Alan Carter, Cabral’s president and chief executive officer, commented:

“The current drilling and trenching program at Machichie Main is aimed primarily at upgrading the inferred resource base within the near-surface gold-in-oxide zone to indicated resources.

 

“These results confirm the presence of significant grades, both within the near-surface gold-in-oxide material, which comprises mineralized blanket sediments and saprolite (weathered bedrock), as well as the underlying fresh primary intrusive material at Machichie Main.

 

“The trench results in particular are significant because they confirm the presence of excellent grades within gold-in-oxide material at surface.

 

“This bodes very well for our efforts to upgrade the inferred resources at Machichie Main as we work towards updating the results from the PFS study on an initial heap-leach starter operation previously released in October, 2024.”

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To read the full news release, please click HERE

To read our full terms and conditions, please click HERE

Awalé Resources (TSX.V: ARIC)

Provided an update on exploration activities at the Charger target within the Odienné Project in the Ivory Coast.

The Charger zone stands out with some of the highest-grade intercepts in West Africa in the last 12 months, including 32m @ 45.7 g/t Au from 165m downhole in OEDD-83.

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HIGHLIGHTS

• The Charger zone stands out with some of the highest-grade intercepts in West Africa in the last 12 months, including 32m @ 45.7 g/t Au from 165m downhole in OEDD-83. Awalé is now following up on these high-grade intersections.
• Charger is a near-surface, high-grade gold discovery hosted within a 200m-long breccia corridor.
• Ten holes have been completed at Charger, with drilling on two more in progress, with results expected in April/May 2025.

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Ora Banda Mining (ASX: OBM)

Updated on its continued exploration success at the high-grade Riverina Gold Camp.

Following the initial success of the original Little Gem EIS diamond hole LGDD24001 which identified high grade gold mineralisation (4.7m @ 7.4g/t) Ora Banda has completed a further five-hole diamond program (1,849 metres).

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Ora Banda Mining Minesite

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.Ora Banda MIning Announces 

OUTSTANDING EXPLORATION RESULTS AT LITTLE GEM, CONFIRMS A GREENFIELDS DISCOVERY

Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its continued exploration success at the high-grade Riverina Gold Camp.

Following the initial success of the original Little Gem EIS diamond hole LGDD24001 which identified high grade gold mineralisation1 (4.7m @ 7.4g/t) associated with carbonate units brecciated by actinolite, Ora Banda has completed a further five-hole diamond program (1,849 metres).

These five holes have confirmed the presence of the carbonate host units over 1,600
metres of strike and down to 400 vertical metres below surface (mbs).

Highlights:
• Follow up drilling at Little Gem has intersected two wide, high-grade lodes 400
metres below surface in hole LGDD25005 as follows:
o 22.7m @ 5.0 g/t
• Inc . 14.5m @ 6.8 g/t
• Inc. 6.2m @ 10.8 g/t
o 10.9m @ 6.4g/t
• Inc. 3.6m @ 16.9g/t
• Inc. 0.95m @ 55.9 g/t

• Ora Banda has committed to an immediate 16-hole follow-up program to test over
4.7km’s of prospective strike from Little Gem through to Sunraysia.

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

“These outstanding results at Little Gem have been achieved through exceptional geology work, done well, and is exactly how deposits should be discovered.

 

“These latest discovery intercepts at Little Gem are landmark because they open our eyes to a new 4.7km long target zone that runs all the way from Sunraysia to British Lion.

 

“To put this into context, this is more than double the current strike length of the known Riverina orebody.

 

“Consequently, we’ve committed to a priority 16-hole starter drill program which will test the carbonate horizons along the 4.7km strike and down to a depth of 400m.

 

“We are very much looking forward to seeing what this program delivers.”

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To read the full news release, please click HERE

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G Mining Ventures (TSX: GMIN)

Announced the commencement of site preparation activities at its Oko West Gold Project in Guyana, marking a major step forward in the project’s development.

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Orla Mining (TSX: OLA; NYSE: ORLA)

Announced that the Company has completed its acquisition of the Musselwhite Gold Mine in Ontario, Canada from Newmont Corporation.

The addition of Musselwhite transforms Orla into a North American-centred, geographically diversified intermediate gold producer.

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Orla Mining – Musselwhite Gold Mine.

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Orla Mining Completes the Musselwhite Acquisition

Vancouver, BC – March 3, 2025 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce that the Company has completed its acquisition (the “Transaction”) of the Musselwhite Gold Mine (“Musselwhite”) in Ontario, Canada from Newmont Corporation (“Newmont”).

(All amounts in this press release are in US dollars unless otherwise indicated).

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 Jason Simpson, President and CEO, Orla Mining commented;

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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.

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Disclosure

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

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Meeka Metals (ASX: MEK)

Reported assays from a new zone of shallow high-grade gold on the western side of Turnberry South at the Murchison.

Highlights included 21m @ 5.13g/t Au from 51m including 5m @ 15.65g/t gold, 
18m @ 3.61g/t Au from 83m including 4m @ 10.85g/t Au.

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ASX Announcement
7 March 2025

Meeka Metals Discovers a  New Shallow High-Grade Gold Zone at Turnberry
South

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Meeka Metals Limited (ASX: MEK)  (“Meeka” or the “Company”) is pleased to report assays from a new zone of shallow high-grade gold on the western side of Turnberry South at the Murchison.

Assays from the new gold zone include:

• 21m @ 5.13g/t Au from 51m including 5m @ 15.65g/t Au (25TBGC012)
• 18m @ 3.61g/t Au from 83m including 4m @ 10.85g/t Au (25TBGC011)
• 11m @ 4.04g/t
A new shallow high-grade gold zone has been intersected on the western side
of Turnberry South and is likely to drive an expanded oxide open pit.
• Assays from the new zone of shallow high-grade gold include:
o 21m @ 5.13g/t Au from 51m including 5m @ 15.65g/t Au (25TBGC012)
o 18m @ 3.61g/t Au from 83m including 4m @ 10.85g/t Au (25TBGC011)
o 11m @ 4.04g/t Au from 52m including 1m @ 22.50g/t Au and 2m @ 7.46g/t
Au (25TBGC010)
o 12m @ 1.81g/t Au from 38m including 1m @ 10.80g/t Au (25TBGC019)
o 14m @ 1.43g/t Au from 37m including 1m @ 4.40g/t Au (25TBGC013)
o 6m @ 2.03g/t Au from 52m including 1m @ 5.41g/t Au (25TBGC011)
o 7m @ 1.51g/t Au from 99m including 1m @ 8.34g/t Au (25TBGC007)
• This new zone of gold sits to the west of the current Turnberry South stage 1
oxide pit design.

The shallow high-grade gold is likely to result in an expansion of the Turnberry South stage 1 open pit with commensurate improvement in mining economics.

• RC drilling remains ongoing at the Murchison Gold Project (“Murchison”) with
further drilling along strike and up-dip of these new high-grade results to
ensure inclusion in an updated stage 1 pit design.
• Open pit mining commenced ahead of schedule in February 2025 at St Anne’s
with first ore expected in April 2025.

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

“We had not previously intersected this high-grade gold zone on the western side of Turnberry South due to the orientation of prior drilling.

 

“We are now prioritising drill delineation along strike to incorporate into an expanded grade control model and updated stage 1 open pit design.”

 Open pit mining underway ahead of schedule at St Anne’s North.

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To read the full news release, please click HERE

The live Spot 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 Meeka Metals. 

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To read our full terms and conditions, please click HERE

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PDAC 2025 Day 4

The final day, which only runs from 9 am to midday, then to ironic cheers a voice booms out that the conference is closed.

I used the time to catch up with a couple of UK listed companies, including one caught up in a scandle not of its own making.

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Awale Resources stand in the Core Shack of PDAC 2025, together with the Ivory Coast Country Manager.

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PDAC 2025 Day 4

The final day, which only runs from 9 am to midday, then, to ironic cheers, a voice booms around the conference hall that the conference is closed.

The final day is a low key affair, it starts slowly, with many booths unmanned at opening due to the festivities of the night before, and slowly gets going as people drift in late and by 11am most are looking at their watches counting down the minutes before the booths can be taken down.

The rule is a booth can only be dismantled from midday, but a few brave companies start early, to try and exit before the queue for the elevators becomes too lengthy.

Being Canada, rules are strict, and security gaurds ensure that freight is not taken up the esclalators, making all the companies use the limited elevators, hence the lengthy queues.

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I used the time to catch up with a few UK listed companies, including one caught up in a scandle not of its own making.

I had a brief chat to Serabi Gold, a company whise share price has risen 150% since I last spoke to them at PDAC 2024. The reson I didn’t invest then was that their mining licence is not a permanent one, and that creates uncertainty, which I don’t like.

It is pleasing to see a London mining company doing so well though, we need a few more success stories to inject new interest amongst UK investors in the mining sector.

The Serabi Gold stand at PDAC 2025 can be seen below on the right hand side.

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Serabi Gold Stand at PDAC 2025

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I then paid my annual visit to the Conroy Gold stand, to hear how they have been progressing, and to give my condolences on the passing of the late Professor.

Conroy was one of many companies mentioning antimony at the conference this year, where a year ago there were possibly none.

They have certainly had some decent drill results since last year, and had some drill core for people to inspect.This was a good decision as actually being able to hold the core and see the visible gold is something that a simple photo could never do.

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The drill core is seen below.

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My final call was to the stand of beleagured First Class Metals.

First Class are under the cosh as they have just cashed an investment from a company called 79th Group, a company issuing bonds to investors promising between 12% and 15% pa return. They have also appointed the 79th Group CEO as their own CEO.

Most people here will realise that is a tough promise to keep, especially as there are annual charges for bondholders. A few days ago e police raided the homes of four employees of 79th Group, and arrested them. They have been released on bail and the police are appealing for investors with the group to come forward.

The share price is down around 40%, and First Class Metals look to be in a difficult position here, as they clearly need the money.

The issue for them would be if charges are laid against the people are arrested, which might reflect poorly against them and their judgement, despite not doing anything wrong themselves.

I will continue to follow this story and report back.

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The live Spot 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 the companies mentioned above. 

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To read our full terms and conditions, please click HERE

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PDAC 2025 Day 3

The weather relented a little today and the temperature rose to around zero, a welcome relief from the previous days of biting wind.

Another day trudging around the booths and I am struggling to find new companies of interest that meet my criteria.

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PDAC 2025 Day 3

The weather relented a little today and the temperature rose to around zero, a welcome relief from the previous days of biting wind.

A full day in the show for me, and despite wearing Nike Air shoes to combat the walking on hard concrete floors all day, the walking is taking it’s toll and my feet are in need of a rest.

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I caught up with a few of my current holdings today for an update.

I attended the Calibre Mining booth and spoke to the managment about their rationale for being acquired by Equinox Gold, a deal that disappointed me when I felt Calibre were in a good position by themselves.

Equinox Gold have substantial debt, so Calibre’s production will be going to pay that off, which I think works better for Equinox’ shareholders than Calibre personally.

As long as gold stays high this deal should work once the debt is paid off, but I feel a premium should have been given to Calibre shareholders.

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I then visited West Red Lake Gold Mining to hear the reason for their recent Charity flow through financing, another disappointment, especially as they upsized it with a full warrant.

This company continue to run financings when they have previously marketed on the basis of picking the mill up for a song, which they did, and for being close to resuming production.

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After those meetings it was another day trudging around the booths of PDAC 2025 and  struggling to find new companies of interest that meet my criteria, followed by the usual round of evening functions, this time starting on the 44th flooor in a solicitor’s office.

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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.

.

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PDAC 2025 Day 2

It was an exceptionally busy day as the market professionals joined the show as usual on a Monday.

Dynasty Mining and Endurence Gold caught the eye, both early stage exploration projects.

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PDAC outside view

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PDAC 2025 Day 2

It was an exceptionally busy day as the market professionals joined the show as usual on a Monday.

Dynasty Gold and Endurence Gold caught the eye, both early stage exploration projects.

Both companies have reported some spectacular drill results but highlight the problems of the junior mining sector in that money is hard to raise,a nd without money little drilling is done, and the projects crawl forward.

This causes investors to lose interest and switch focus to ther stocks that might be generating some newsflow.

I am focusing on companies that are able to fund and generate newsflow now, they are  able t focus investor attention which translates into buying of the shares and improved liquidity.

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I made the fatal mistake of allowing someone that I know that lives in Torornto to draw me out of the show for a coffee and chat, which took a couple of hours.

They then returned with me to the conference and their interest was different to mine, so I ended up wasting time in the Trade Show rather than in the Investors Exchange where the companies are.

That effectively wasted an afternoon, and is a mistake I wont repeat again.

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The weather continues to be cold with a biting wind, around minus 15 with the wind chill.

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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.

.

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Market Review February 2025

Has just been published.

Highlighted company is Meeka Metals.

Comments on the gold sector and a good month for the producing gold miners.

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City Investors Circle Market Review February 2025

Market Review February 2025

Has just been published.

Highlighted company is Meeka Metals.

Comments on the gold sector and a good month for the miners.

News from our watchlist companies for the month of February 2025 is contained in the links below, please click to be taken to the full story.

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.

.

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Barton Gold Holdings  (ASX: BGD)

Provided a progress update for ongoing studies at its South Australian Tunkillia Gold Project. 

Following the ISS publication during July 2024, Barton engaged independent technical consultants to complete a detailed review of optimisation opportunities in parallel with Barton’s own internal analyses.

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Barton Gold Tunkillia Optimised Scoping Study – Progress Update

Comminution analyses indicate significant processing efficiency gains

HIGHLIGHTS

• July 2024 Initial Scoping Study (ISS) validated efficiencies of scale, with a 5Mtpa producing ~130,000oz gold per annum at a competitive All-in-Sustaining-Cost (AISC) of A$1,917/oz Au
• Optimised Scoping Study (OSS) commenced November 2024, with key objectives to reduce power consumption, improve economics, and de-risk project working capital requirements
• Other OSS work programs underway include updated JORC Mineral Resources Estimate (MRE) block modelling, comminution testwork and scenario analyses, capex and opex optimisation, preliminary power options analyses, and open pit mine design and scheduling opportunities
• Comminution testwork and scenario analyses now complete, with meaningful efficiency gains indicated; other programs remain underway, with OSS to be completed before 30 June 2025

Barton Gold Holdings Limited (ASX:BGD, FRA:BGD3, OTCQB:BGDFF) (Barton or Company) is pleased to provide a progress update for ongoing studies at its South Australian Tunkillia Gold Project (Tunkillia).

Following the ISS publication during July 2024, Barton engaged independent technical consultants to complete a detailed review of optimisation opportunities in parallel with Barton’s own internal analyses.

These parallel analyses identified high-priority opportunities relating to (amongst others) comminution circuit design, variable grind sizing, power consumption, mill throughput planning and mine scheduling.

Barton has now completed additional drilling, comminution testwork and scenario analyses comparing fresh and oxide materials’ performance and recoveries at different grind sizes in different comminution circuits.

Preliminary analyses indicate significantly reduced work indices and powerb consumption for all material types, with increased effective throughput rates of softer oxide materials during early operations.

These findings are now under review for validation by a second, independent technical consultancy, with capex, power options, and mine scheduling underway for completion of the OSS before 30 June 2025.

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Commenting on the ongoing Tunkillia OSS, Barton MD Alexander Scanlon said:

“Tunkillia’s Initial Scoping Study validated Barton’s thesis for an efficient, large-scale operation at Tunkillia.

 

“The key objectives of the Optimised Scoping Study are not only to further improve economics, but also to de-risk the project by reducing total power consumption, working capital requirements and exposure to energy price risk.

 

“We anticipate that the Tunkillia OSS will demonstrate meaningful cost and efficiency gains, with our preliminary scenarios analyses and power studies better informing a budget and plan for expedited feasibility studies.”

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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 Barton Gold.

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