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”

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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.

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Disclosure

At the time of writing the author holds shares in Catalyst Metals. 

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To read our full terms and conditions, please click HERE

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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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G Mining Ventures (TSX: GMIN)

Louis-Pierre Gignac, the Founder, President & CEO of G Mining Ventures, has been named Kitco Mining’s 2024 CEO of the Year in the producer category.

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Comment

This award is well deserved in my opinion, G Mining has been doing everything right since I began following the company.

My only concern is they may recieve a hostile bid whilst they’re still a mid cap producer, whereas I feel this is a long term buy and hold stock.

Anglogold are a close neighbour in Guyana and it would not surprise me if GMIN and Anglo go head to head in bidding for G2 Goldfields’ Oko project in Guyana

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Kitco Mining names G Mining Ventures CEO Louis-Pierre Gignac Producer of the Year

(Kitco News) – Louis-Pierre Gignac, the Founder, President & CEO of G Mining Ventures (TSX: GMIN), has been named Kitco Mining’s 2024 CEO of the Year in the producer category.

The award comes on the heels of a successful year for G Mining Ventures, marked by the completion of its Tocantinzinho gold mine in Brazil and a strategic acquisition in Guyana.

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To read the full news release, please click HERE

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The live gold price can be found HERE

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

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

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

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

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

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

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

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

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

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Disclosure

At the time of writing the author holds shares in G Mining Ventures.

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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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Capricorn Metals (ASX: CMM)

Delivered strong half year results, aided by the strong gold price.

Underlying profit before tax increased by 10% to a $90.7 million from previous
corresponding period, reflecting strong operating performance.

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Capricorn Metals projects location map

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CAPRICORN DELIVERS STRONG HALF YEAR RESULTS

Capricorn Metals (ASX: CMM) delivered strong half year results, aided by the strong gold price.

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Highlights

• Underlying profit before tax increased by 10% to a $90.7 million from previous
corresponding period, reflecting strong operating performance:
o Delivered gold price up 31% to $3,943 per ounce for 54,062 ounces sold
o Strong cost control against back drop of industry wide inflationary pressures
• Lowest quartile Australian gold industry all-in-sustaining-cost (AISC) of $1,564 per
ounce underpins strong EBITDA of $95.1 million and an EBITDA margin of 45%.
• Gross operating profit per ounce sold of $1,700 translating to significant cash build for
the half year of $41.8 million after $20.4 million spent on exploration and feasibility
activities at Mt Gibson and Karlawinda, $10.1 million on development activities at
Mt Gibson, and before the $200 million (before costs) placement proceeds.
• Receipts from gold sales increased by 17% from the sale of 54,062 ounces at an
average delivery price of $3,943 per ounce. A further 1,825 ounces of gold bullion on
hand was subsequently sold in January 2025 for $7.7 million;
• Strong cash flow from operations of $84.8 million further strengthening Capricorn’s
robust balance sheet position:
o Cash and bullion of $363.2 million (30 June 2024: $110.3 million)
o Net cash position of $313.2 million with $50 million bank debt outstanding with
a single bullet repayment in June 2025
• H1 FY25 gold production of 54,261 ounces at AISC of $1,564 per ounce was in line
with expectations and puts Capricorn in a strong position to achieve production
guidance for FY25 of 110,000 – 120,000 ounces at AISC of $1,370 – $1,470 per ounce.

1Underlying profit excludes non-cash adjustments following the adoption of hedge accounting in July 2023.
2 Includes bullion valued at $7.7 million representing the value of the bullion subsequently sold in Jan ’25 and capital proceeds
from a $200 million (before costs) placement completed in Nov ’24.
3Net cash is defined as cash and bullion less corporate bank debt (A$50 million).
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Capricorn Metals Financial results

A strong six months of operations at the Karlawinda Gold Project (“KGP”) has seen Capricorn Metals Ltd (“Capricorn” or “the Company”) report a statutory profit before tax of $63.1 million for the half year ended 31 December 2024.

Underlying profit before tax of $90.7 million was net of the non-cash adjustments of $27.7 million resulting from the adoption of hedge accounting.

Cash flow from operations of $84.8 million continued the strong financial performance of the KGP.

Capricorn expects to achieve annual production guidance of 110,000 – 120,000 ounces and AISC guidance of $1,370 – $1,470 per ounce.

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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 Capricorn Metals

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To read our full terms and conditions, please click HERE

Mining Review 9th March 2025

I attended the world’s largest mining conference, the PDAC in Toronto last week.

Despite another record attendance being declared by the organisers, and a record gold price, I felt a negative vibe in the show, when there should have been a positive feeling.

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Serabi Gold Stand at PDAC 2025

City Investors Circle Mining Review 9th March 2025

I attended the world’s largest mining conference, the PDAC in Toronto last week.

Despite another record attendance being declared by the organisers, and a record gold price, I felt a negative vibe in the show, when there should have been a positive feeling.

Once again the show was saturated with mining juniors desperately seeking funding, and as an investor that’s not what I’m looking for.

The days of the junior doing some drilling, declaring the result, the share price rising, and a placing taking place after the rise seem to be well and truly over, that model is broken in my opinion.

Many companies have had limited progress in the last year due to limited funds, and as a result are simply trying to attract in enough new money to pay salaries and running costs, and, hopefully, drill a few new holes to show some progress.

This is a snail’s pace exploration programme and it no longer excites investors.

The market is full of these sort of companies and investors have seemingly had eneough. I think a new model needs to happen otherwise in a few year’s time there will be a dearth of exploration projects.

I think they need to properly regulate how a junior mining company can operate, as a starting point. No more confetti options for management and insiders for a start.

Then stop management putting projects they personally own into the company, unless they can verifiably demonstrate the price is the same as they purchased the project for.

Encourage senior mining companies to mentor and invest in juniors so regulated, with senior staff assisting to develop projects.

If something is not done I fear investing in junior mining compnies is going to cease, as everyone can see the drawbacks.

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Walking around the floor at PDAC, despite the “no soliciting’ signs, it was apparent there was a multitude of out of work miners and geologists, along with an army of service providers, touting their services.

It seems as though the mining industry is becoming dwarfed by this legion of people seeking business opportunities and financial gain.

The number of companies exhibiting in the “Investor’s” Exchange was lower than last year, and it makes me wonder whether this is because of the absense of investors and the constant barrage of service providers going around the booths?

At some point companies will surely realise that they are not meeting investors at such shows and cease attending themselves.

As I mentioned before, the junior mining sector is in urgent need of significant change or it will die.

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

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

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

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

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

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

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

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

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

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Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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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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Mining Review 2nd March 2025

A mixed week for our stocks as profit taking saw falls in producing mining stocks.

Peace hopes for the Ukraine war took a knock after the Trump – Zalinski public spat at the White House, which may drive gold higher next week.

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City Investors Circle Mining Review 2nd March 2025

A mixed week for our stocks as profit taking saw falls in producing mining stocks.

Peace hopes for the Ukraine war took a knock after the Trump – Zalinski public spat at the White House, which may drive gold higher next week.

I am currently in Toronto for the PDAC 2025, so I am just adding the statistics this week for completeness.

I will be reporting on the PDAC throughout the next few days.

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

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

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

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

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

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

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

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

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

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Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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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

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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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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

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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 Barton Gold.

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West Red Lake Gold (TSX.V: WRLG)

Announced the filing of its independent pre-feasibility study technical report for its 100% owned Madsen Mine project located in the Red Lake Gold District of northwestern Ontario, Canada, with an effective date of January 7, 2025.

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West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or the “Company”) (TSXV: WRLG) (OTCQB: WRLGF)is pleased to announce the filing of its independent pre-feasibility study (“PFS”) technical report for its 100% owned Madsen Mine project located in the Red Lake Gold District of northwestern Ontario, Canada, with an effective date of January 7, 2025 (the “PFS Technical Report”).

The PFS Technical Report was prepared in accordance with the Canadian Securities Administrators’ National Instrument 43-101 –Standards of Disclosure for Mineral Projects(“NI 43-101“) and supports the disclosure made by the Company in its January 7, 2025 news release announcing the results of the PFS.

There are no material differences in the PFS Technical Report from the information disclosed in the January 7, 2025 news release (available here).

 

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TECHNICAL INFORMATION AND TECHNICAL REPORT FILING

A copy of the PFS Technical Report is available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.westredlakegold.com.

Readers are encouraged to read the PFS Technical Report in its entirety, including all qualifications, assumptions, exclusions and risks that relate to the Mineral Resource, Mineral Reserves and life of mine plan. The PFS Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

 

ABOUT WEST RED LAKE GOLD MINES

West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario.

The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits.

WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km² including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

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To read the full news release please click HERE

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

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The live Spot gold price can be found HERE

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

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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 West Red Lake Gold Mines.

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To read our full terms and conditions, please click HERE

 

Perpetua Resources (TSX: PPTA)

The share price is falling following the News Release on Febrary 13th 2025, and now the lawyers are lining up to sue the company on behalf of investors.

A director has just announced a sale due to “tax reasons”. This is turning sour very quickly,

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Comment.

A month ago Perpetua Resources looked a solid hold. The company had received permits for its Stribnite gold / antimony mine in Idaho, USA, despite local opposition from enviromentalists.

On the 13th February the company published a press release wich mentioned increased capex costs and AISC compared to the 2020 Feasibility Study.

This has caused the share price to go into a steep decline and has now fallen around 33% from the recent peak, including over 9% on Friday 21st February.

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Perpetua Resources Price Falling on Bad News, Lawyers Lining Up

Investigation Details

On February 13, 2025, Perpetua disclosed in a filing with the U.S. Securities and Exchange Commission that the Company had “released an updated cash flow model for the Stibnite Gold Project (the ‘Project’), which is based, in part, on basic engineering work completed by Ausenco Engineering USA South Inc. (‘Ausenco’) in January 2025 (the ‘Financial Update’).”

 

Perpetua said that the “Financial Update also applies fourth quarter 2024 cost estimates for construction and operations, consistent with the Basic Engineering analysis, as well as current and consensus commodity pricing for sales” and that “the Financial Model reflects an increase in initial and total capital expenditures and LOM AISC compared to the base model included in the 2020 Feasibility Study” for the Project.

 

On this news, Perpetua’s stock price fell $2.68 per share, or 22.39%, to close at $9.29 per share on February 14, 2025.

 

What’s Next?

If you are aware of any facts relating to this investigation or purchased Perpetua securities, you can assist this investigation by visiting the firm’s site: bgandg.com/PPTA. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

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G Mining Ventures (TSX: GMIN)

Provided an update on year-end 2024 mineral reserves and mineral resources and announce the updated mineral resource estimate for its 100% owned, advanced exploration-stage Gurupi Project, located in northern Brazil

Highlights: M & I Resources 8.28 million ounces, Inferred Resources: 2.40 Moz, and Proven & Probable Reserves: 2.03 Moz.

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Comment

A really positive update from a company run really well by an experienced management team.

If the gold price remains around the current levels GMIN are well placed to forge ahead with the extra revenue self-funding its advanced exploration projects.

The old mantra applies here, my first rule of investing is quality management.

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Calibre Mining (TSX: CXB)

Have announced they have agreed to be acquired by Equinox Gold in an all share transaction.

The price in 0.31 Equinox shares per Calibre share, which is only a fraction over the current Calibre share price, and a disappointing premum for a company in about to become a significant producer when the Valentine mine commences production.

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Comment.

This is very disappointing, Calibre looked to be advancing so well and with 250,000 ounces of gold production per annum about to commence at Valentine, I had high hopes the company was going to grow organically from here.

The premium is miniscule, and is sure to disappoint investors.

With the Calibre CEO to become the CEO of the combined company it looks done and dusted, and I don’t see a challenging bid likely, although I would love to see one that gives Calibre shareholders a proper price for their shares rto reward them for their faith in managament.

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Equinox Gold to buy Calibre Mining

New Equinox Gold to Become the Second Largest Gold Producer in Canada

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Vancouver, British Columbia–(Newsfile Corp. – February 23, 2025) – Equinox Gold Corp. (TSX: EQX) (NYSE American: EQX) (“Equinox”) and Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) (“Calibre” and collectively the “Companies”) are pleased to announce that the Companies have entered into a definitive arrangement agreement (the “Arrangement Agreement”) in an at-market business combination whereby Equinox will acquire all the issued and outstanding common shares of Calibre pursuant to a court-approved plan of arrangement (the “Transaction”). The combined company (“New Equinox Gold”) will continue under the name “Equinox Gold Corp.”

Equinox and Calibre will host a conference call and webcast to discuss the Transaction commencing at 7:30 am Eastern Time on Monday, February 24, 2025. Details are provided at the end of this news release.

The Transaction will create an Americas-focused diversified gold producer with a portfolio of operating mines in five countries anchored by two high-quality, long-life, low-cost Canadian gold mines.

The Greenstone Mine (“Greenstone”) in Ontario achieved commercial production in November 2024 while the Valentine Gold Mine (“Valentine”) in Newfoundland & Labrador is nearing construction completion with first gold pour targeted for mid-2025.

Collectively, these two cornerstone assets are expected to produce an average of 590,000 ounces of gold per year when operating at capacity. With 100% ownership of Greenstone and Valentine, New Equinox Gold will become the second largest gold producer in Canada.

The combined company is expected to produce approximately 950,000 ounces of gold in 2025¹, not including production from Valentine or Los Filos. New Equinox Gold has the potential to produce more than 1.2 million ounces of gold per year with Greenstone and Valentine operating at capacity.

Additionally, the combined company will have a large gold endowment of Mineral Reserves and Mineral Resources, and a highly prospective pipeline of development, expansion and exploration projects for low-risk sustainable growth.

Under the terms of the Arrangement Agreement, Calibre shareholders will receive 0.31 Equinox common shares for each Calibre common share held (the “Exchange Ratio”) immediately prior to the effective time of the Transaction (the “Effective Time”).

Upon completion of the Transaction, existing Equinox shareholders and former Calibre shareholders will own approximately 65% and 35% of the outstanding common shares of the combined company, respectively, on a fully diluted in-the-money basis. The implied market capitalization of the combined company is estimated at C$7.7 billion.

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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 and invited individually to ensure interest and relevance for the presenting company.

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

At the time of writing the author holds shares in Calibre Mining

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Mining Review 23rd February 2025

Calibre Mining announced record gold production and looked forward to commencing production at their Valentine mine this year.

Westgold issued a drilling update for the Beta Hunt mine in Western Australia.

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Calibre Mining  –  The Valentine Mine in Newfoundland nears completion.

City Investors Circle Mining Review 23rd February 2025

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..

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

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

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

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

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

.

=======

,

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

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

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

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

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Other news releases from companies on our watchlists were

Westgold responded to press speculation

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Calibre Mining (TSX: CXB)

Announced financial and operating results for the three months (“Q4”) and full year ended December 31, 2024 (“FY 2024”).

Calibre delivered a record Q4 consolidated gold production of 76,269 ounces, and full year 2024 production of 242,487 ounces, surpassing the revised 2024 annual production guidance.

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Caibre Mining – Valentine Gold Mine, Newfoundland.

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Calibre Mining Reports 2024 Financial Results; 2025 Set to be a Transformational Year as the Multi-Million Ounce Valentine Gold Mine, Canada Advances to First Gold During Q2, 2025

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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 and invited individually to ensure interest and relevance for the presenting company.

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

At the time of writing the author holds shares in Calibre Mining

.

Gold Road Resources (ASX: GOR)

Announced record revenue from gold sales for the full year totalled $528.0 million (2023: $472.1 million).

Fully unhedged gold sales of 143,793 ounces (2023: 161,472 ounces) at an average realised gold price of $3,672 per ounce (2023: $2,924 per ounce).

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Gold Road – Gruyere JV Gold Mine at night.

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Gold Road Resources – 2024 FULL YEAR RESULTS

FULL YEAR HIGHLIGHTS

Annual Profit and Cash Flow Generation

 Record revenue from gold sales for the full year totalled $528.0 million (2023: $472.1
million)
 Fully unhedged gold sales of 143,793 ounces (2023: 161,472 ounces) at an average realised gold price of $3,672 per ounce (2023: $2,924 per ounce)
 Record EBITDA for the 12-month period totalled $294.4 million (2023: $250.1 million) at n EBITDA Margin of 56% (2023: 53%)
 Record Net Profit after Tax for the 2024 financial year of $142.7 million (2023: $115.7
million)
 Record basic earnings per share of 13.17 cents (2023: 10.73 cents)
 Record operating cash flow for the 12 months to 31 December 2024 of $250.6 million
(2023: $233.6 million)
 Group free cash flow2 generated for 2024 of $91.7 million (2023: $140.2 million)
Strong Balance Sheet
 Gold Road ended the year in a strong position with cash and short-term deposits of
$166.3 million (2023: $143.8 million) after cash outflows of $55.9 million related
predominately to the investment in De Grey Mining Ltd3 and cash dividend payments of
$13.4 million
 Gold in circuit, doré and bullion on hand is estimated at $7.6 million at the year end
 Gold Road remains debt free
 Financial assets in the form of strategic investments valued at fair value of $741.7 million on 31 December 2024
Fully Franked Final Dividend Determined for six months to 31 December 2024
 Fully franked final dividend of 1.5 cents per share determined for six months to 31 December 2024, in addition to the fully franked 0.5 cents per share interim dividend paid for the six months to 30 June 2024

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Production and Growth Outlook

 Gruyere has produced 1,527,734 ounces since first gold in June 2019 (100% basis)5
 Gruyere is guided to produce between 325,000 and 355,000 ounces in 2025 (100% basis) 
 Gold Road’s attributable Mineral Resources have increased by 0.3 million ounces (+6%) to 4.81 million ounces and Gold Road’s attributable Ore Reserves have increased to 43 million tonnes at 1.39 g/t Au for 1.92 million ounces (+5%)7
 The Yamarna Mine Readiness Project delivered a high-grade Ore Reserve of 0.19 Moz at 4.10 g/t Au at Gilmour following a pre-feasibility study that demonstrates a 5-year project which generates life of mine free cash flow of $377 million and an NPV of $231 million at a conservative gold price of A$3,500 per ounce.
 Large Australia wide portfolio of greenfields exploration opportunities to be explored in 2025

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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 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

.

American Creek Resources (TSX.V: AMK)

Has received a Notice of Termination of the Arrangement Agreement entered into with Cunningham Mining Ltd. from the Purchaser.

The Company’s position is that the Notice is invalid.

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Comment

I have to admit this announcement doesn’t surprise me, as I stated in my comments after the last extension to finalising the deal, I felt it wasn’t going to complete.

I felt Cunningham couldn’t raise the funds, and I sold in anticipation of them terminating the agreement, which they are now trying to do. I did not forsee them doing it this way, I simply thought they would announce they couldn’t raise the funds with their crypto gold token.

I was certainly aware of the Seabridge tunnel issue in November at the Zurich conference when I spoke to Tudor Gold, so I’m surprised Cunningham are now saying they hadn’t been infiormed, it was common knowledge.

It will be interesting to see how this plays out.

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Westgold Resources (ASX | TSX: WGX)

Provided an update on resource development drilling activities at the Beta Hunt mine at Kambalda, Western Australia.

This includes further results from Westgold’s inaugural drilling program at the Fletcher Zone and details of planned drilling of the potential southern extension of Fletcher (the Mason Zone target).

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Westgold Beta Hunt Drilling Update – Fletcher Drilling Continues to Impress while Mason Zone Emerges

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Perth, Western Australia, 18 February 2025: Westgold Resources Limited (ASX | TSX: WGX – Westgold or the Company) is pleased to provide an update on resource development drilling activities at the Beta Hunt mine at Kambalda, Western Australia.

This includes further results from Westgold’s inaugural drilling program at the Fletcher Zone and details of planned drilling of the potential southern extension of Fletcher (the Mason Zone target).

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Highlights

BETA HUNT (Fletcher Zone)
■ Additional large, high-grade drilling intervals returned at Fletcher including:
• 41.00m at 7.99 g/t Au and 19.00m at 5.95 g/t Au in hole FF475SP-62AE; and
• 38.00m at 6.80 g/t Au in hole WF440VD-55AE.
■ Five drill rigs operating at Fletcher
■ Maiden Mineral Resource Estimate – to be released to the market late Q4,FY25.
BETA HUNT (Mason Zone)
■ Mason zone target interpreted as the southern fault offset extension of the Fletcher
zone with the combined strike length of the two zones (Mason + Fletcher) now ~4km
• Mason drill programs expected to commence in Q4 FY25

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Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold is mining two zones at Beta Hunt now – Fletcher will be the third.

 

“We already have access into Fletcher and once drilled, it will be an additional and independent source of ore production.

 

“At Mason, it is too early to speculate on its scale and significance. The historical drilling results here are encouraging, with some of the better results including 19.00m @ 10.73g/t Au, 35.35m @ 3.50g/t Au, 38.00m @ 2.87g/t Au and 5.20m @ 20.67g/t Au.

 

“Our early interpretation is Mason is the faulted offset of the Fletcher Zone, and if so would take the combined strike length to circa 4km.

 

“Unlocking value at Beta Hunt requires building a robust understanding of the various Beta Hunt orebodies with a long term mine plan focussed on maximising cash flow.

 

“The next step is to deliver a mineral resource estimate for Fletcher which we expect to announce to the market late in Q4 FY25.”

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To read the full news release please click HERE

.

.To View Westgold’s historical news, 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 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 Westgold.

.