Catalyst Metals (ASX: CYL)

Reported drill results at the Cinnamon-Cobalt trend, located on the Plutonic Gold Belt.

Cinnamon, along with other areas of the belt, are gradually being better understood thereby allowing for this higher-risk exploration. These results, after such work, are obviously encouraging.

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Catalyst Metals Mining, courtesy of Catalyst Metals

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Catalyst Metals announce 33m at 7.4 g/t gold intersected below Cinnamon Resource

Catalyst Metals Limited (Catalyst or the Company) (ASX:CYL) is pleased to report drill results at the Cinnamon-Cobalt trend, located on the Plutonic Gold Belt.

These results come after a considerable amount of geological work undertaken by the team, since acquisition. Cinnamon, along with other areas of the belt, are gradually being better understood thereby allowing for this higher-risk exploration.

These results, after such work, are obviously encouraging for the team and Company.

Cinnamon strike length doubled with a further intersection of 7m at 29.8 g/t gold
• Cinnamon is an undeveloped gold Resource of 145koz3 and is 25km north-east of the
underutilised Plutonic processing plant
• During Catalyst’s 2023 acquisition of Plutonic, an intercept of 17m at 2.3 g/t gold, situated immediately below this Cinnamon Resource, was identified
• The purpose of a recently completed drilling program was to follow-up on this intercept
along with testing other targets generated since acquisition. The program yielded four
important outcomes:
1) New target area identified below the existing Resource due to an intercept of 33m at
7.4 g/t;
2) Potential expansion of the Resource resulting from intersections near to, but outside,
the Resource envelope; intersections include 17m at 4.1 g/t and 15m at 4.0 g/t;
3) New target area identified 250m north-east between the Cinnamon and Cobalt
deposits due to intersecting 37m at 4.2 g/t; and
4) Doubling Cinnamon’s known strike length by intersecting 7m at 29.8g/t 1km southwest of the Resource.
• This drill program has opened up several new exciting target areas at Cinnamon
• Catalyst’s drilling to date has focused on Plutonic Main, Plutonic East, Trident, K2 and Old Highway, as they provide a pathway to 200koz of annual gold production from the Plutonic Belt
• Until now, Cinnamon has neither been a focus nor included in these future production plans
• These results give encouragement for it to be a potential sixth ore source on the Belt
• Drill results of note received to date, include:
o 33m at 7.4g/t Au o 19m at 3.7g/t Au o 7m at 29.8g/t Au
o 22m at 14.3g/t Au o 13m at 6.1g/t Au o 15m at 4.0g/t Au
o 37m at 4.2g/t Au o 18m at 3.6g/t Au o 17m at 4.1g/t Au
• All this recent drilling lies outside the existing Resource envelope suggesting the potential for an expansion of Resources along strike and at depth.

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

“These results are looking interesting. Plutonic has had 14 different owners over the last 30 years.

 

“This fragmented ownership history is why exploration has been neglected for so long.

 

“The belt requires meaningful exploration drilling to test its potential.

 

“Catalyst published a 10-year production plan last month. Cinnamon did not form part of that plan. It is one of our lower-level exploration targets and yet we are still returning these encouraging results.

 

“They go a long way to explaining to our shareholders the potential exploration upside on offer.”

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To read the full news release, please click HERE

——-

 To View Catalyst Metals latest share price and chart, please click HERE

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

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

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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.

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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

Barton Gold (ASX: BGD)

Confirmed that upgrade drilling for the ‘Starter Pits’ at its South Australian Tunkillia Gold Project is progressing ahead of schedule and under budget, with approximately 2/3 of the current ~18,000m program now complete.

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Photo courtesy of Barton Gold

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Barton Gold Tunkillia Upgrade Drilling – Update

Program advancing rapidly, ahead of schedule and under budget

Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or Company) is pleased to confirm that upgrade drilling for the ‘Starter Pits’ at its South Australian Tunkillia Gold Project (Tunkillia) is progressing ahead of schedule and under budget, with approximately 2/3 of the current ~18,000m program now complete.

Assuming revenues based upon a gold price of AUD $5,000 / ounce, the ‘Stage 1’ and ‘Stage 2’ optimised open pit areas are modelled to yield 365koz Au and A$1.3bn operating profit during Tunkillia’s first ~2.5 years alone.

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HIGHLIGHTS

• Reverse circulation (RC) upgrade drilling on high value ‘Starter Pits’ ahead of schedule, 2/3 complete
• First assays from highest value ‘Stage 1’ area anticipated to be received during the coming weeks

Assuming revenues based upon a gold price of AUD $5,000 / ounce, the ‘Stage 1’ and ‘Stage 2’ optimised open pit areas are modelled to yield 365koz Au and A$1.3bn operating profit during Tunkillia’s first ~2.5 years alone.

Estimated ‘Starter Pits’ cash flows are modelled to repay development more than 2x over during the first year of operations, and more than 3x over during the first 2 years, offering an attractive credit financing profile.

This initial round of drilling is therefore designed to convert these two pit areas to JORC (2012) ‘Measured’ and ‘Indicated’ categories, reinforce modelling confidence and support expedited project financing discussions.

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 Barton Managing Director Alex Scanlon said:

“We are pleased to confirm that the first phase of Tunkillia upgrade drilling is progressing well, ahead of schedule and under budget, with contractors Raglan Drilling consistently delivering an average of over 300 metres drilling per day.

 

“Prior drilling in the ‘Starter Pits’ area has typically returned Tunkillia’s highest grades. Our modelling that indicates that these pits can deliver a payback period of less than 1 year in operations, offering a very attractive credit profile.”

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To read the full news release please click HERE

The live Barton Gold share price and chart can be found HERE 

..To View Barton Gold’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.

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

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=======

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

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

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

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

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Disclosure

At the time of writing the author holds shares in Barton Gold.

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To read our full terms and conditions, please click HERE

Kaiser Reef (ASX: KAU)

Announced drilling results for its recently completed diamond drilling program, within the Union Hill Open Pit, at the Maldon Gold Project.

Kaiser owns, operates and is actively exploring the Maldon Gold Project.

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Kaiser Reef – HIGH-GRADE GOLD RESULTS FROM UNION HILL DRILLING

MALDON GOLD PROJECT – EXPLORATION UPDATE

Kaiser Reef Limited (ASX: KAU) (“Kaiser” or “the Company”) is pleased to announce
drilling results for its recently completed diamond drilling program, within the Union Hill
Open Pit, at the Maldon Gold Project.

Kaiser owns, operates and is actively exploring the Maldon Gold Project, which includes multiple historical underground mines and an operating 200ktpa processing plant at Porcupine Flat. Kaiser’s Union Hill Gold Mine is fully permitted, currently on care and maintenance and has a resource of 186koz @ 4.4g/t Au.

HIGHLIGHTS

22-HOLE, 960 METRE IN-PIT PROGRAM:

18 holes intersected gold mineralisation, out of 19 effective holes
Targeting unmined extensions of the Eaglehawk Reef beneath the pit floor
Grade continuity confirmed along a 160m strike length
Two holes hit unexpected historical workings; one hole was abandoned early

SIGNIFICANT INTERCEPTS INCLUDE:
5.8m @ 5.37g/t Au from 39.0m (UH-SDH-001)
o Including 2.5m @10.25g/t Au from 39m
6.9m @ 6.05g/t Au from 30.4m (UH-SDH-004)
o Including 1.98m @ 16.44g/t Au from 32.2m
o And 1.3m @ 4.1g/t Au from 35.3m
8.6m @ 4.99g/t Au from 18.4m (UH-SDH-011) [Including 0.3m void @ 0.0g/t Au]
o Including 2m @ 15.69g/t Au from 24.3m

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Kaiser’s Managing Director, Brad Valiukas, commented:

“This recently completed drilling at Union Hill tested a shallow gap zone between known
workings, and these are great results in an area that was historically left behind.

 

“Without taking away from the bigger picture approach to the entire Maldon Gold Project, the next step at Union Hill will be to re-establish the underground as an exploration platform.

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“We expect to commence active work on re-accessing and rehabilitating the decline in January, to allow follow-up drilling. Additionally, we plan to establish a drill position giving access to the north.

 

“Maldon represents a district-scale gold opportunity for Kaiser, with numerous historical
mines and lines of working that remain substantially underexplored.

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“Kaiser has not previously had the funds to progress the Maldon Gold Project as actively as warranted, but with Henty now bedded in and Kaiser’s transformation into a profitable gold miner complete, we are now in a great position to drive Maldon forward as a key growth asset.”

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To read the full news release please click HERE

——-

To View Kaiser Reef’s current share price and chart, please click HERE

To View Kaiser Reef’s historical news, please click here

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

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

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

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

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

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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.

.

Disclosure

At the time of writing the author holds shares in Kaiser Reef. 

.

To read our full terms and conditions, please click HERE

Barton Gold  (ASX: BGD)

Confirmed that geotechnical drilling has started in support of a recently launched Definitive Feasibility Study for ‘Stage 1’ production at the Company’s South Australian Challenger Gold Project.

The planned program includes 5 sonic drilling holes to recover TSF1 materials for laboratory testing.

Photo courtesy of Barton Golf

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Barton Gold Starts Geotechnical Drilling at Central Gawler Mill

Results to inform detailed TSF1 mine design, schedule and costs

Barton Gold Holdings Limited (ASX:BGD, OTCQB:BGDFF, FRA:BGD3) (Barton or the Company) is pleased to confirm that geotechnical drilling has started in support of a recently launched Definitive Feasibility Study for ‘Stage 1’ production (Stage 1 DFS) at the Company’s South Australian Challenger Gold Project (Challenger).

The planned program includes 5 sonic drilling holes to recover TSF1 materials for laboratory testing, 24 holes for Cone Penetration Testing (CPTu) and further laboratory testing, and 3 holes for push tube density testing.

The program is expected to take three weeks to complete, with the results to inform the dry recovery of TSF1 tailings materials, detailed mine design, a mining schedule and estimate of mining costs for the Stage 1 DFS.

.

Barton Managing Director Alexander Scanlon commented;

“With the Stage 1 DFS now underway, we are excited to kick off the first of several production-related work programs that will inform key elements of mine design, scheduling, equipment selection and operating costs for tailings recovery.

 

““Following a $15m placement led by Franklin Templeton, Barton is well funded to advance the restart of operations at its Central Gawler Mill, with approximately $20m cash in the bank and credit financing discussions underway.

“We are now on the road to production, leveraging our fully permitted Central Gawler Mill to operations and growth.

 

“This is an invaluable stepping stone for our vision to become South Australia’s largest independent gold producer.“

.

To read the full news release please click HERE

——-

The live Barton Gold share price and chart can be found HERE 

..To View Barton Gold’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.

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

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=======

,

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

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

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

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

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Disclosure

At the time of writing the author holds shares in Barton Gold.

.

To read our full terms and conditions, please click HERE

Wesdome Gold Mines (TSX: WDO)

Announced its operating results for the three and nine months ended September 30, 2025.

The Company is also providing notice that it will release its financial results after markets close on

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Kiena Mine, Quebec – Courtesy of Wesdome Gold Mines

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Wesdome Announces Third Quarter 2025 Operating Results and Record Quarterly Production

Kaiser Reef (ASX: KAU

Announced an updated JORC-2012 compliant Mineral Resource Estimate and Ore Reserve Estimate for the Henty Gold Mine.

The Henty Gold Mine is an underground operation located in Tasmania’s West Coast region, near Queenstown, with an updated Mineral Resource of

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Henty Gold mine, Tasmania – Credits Kaiser Reef

.

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KAISER REEF INCREASE HENTY RESERVES  BY 29%

HENTY 2025 RESOURCE & RESERVE UPDATE

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Kaiser Reef Limited (ASX: KAU) (“Kaiser” or “the Company”) is pleased to announce an updated JORC-2012 compliant Mineral Resource Estimate (MRE) and Ore Reserve Estimate (ORE) for the Henty Gold Mine (Henty).

The Henty Gold Mine is an underground operation located in Tasmania’s West Coast region, near Queenstown, with an updated Mineral Resource of 438koz @ 3.3g/t Au and an Ore Reserve of 199koz @ 3.3g/t Au.

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HIGHLIGHTS

Reserves increase by 29% to 199koz Au:
Updated reserve of 1.89Mt @ 3.28g/t for 199koz Au, a29% increase from last published Reserve of 154koz, first published 11th October 2024 by Catalyst Metals Limited (ASX:CYL) (Catalyst), restated by Kaiser 24th March 2025.

Depletion during the period to 30th June 2025 was 25.7koz.

Demonstrates increased mine life at Henty of >6 years, targeting consistent production above 30,000oz per annum Au, building during FY 2026.

Resources steady at 438koz Au:
Updated Resource of 4.11Mt @ 3.32g/t for 438koz Au

Second diamond drill commenced at Henty focused on exploration and resource
extension.

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Kaiser’s Managing Director, Brad Valiukas, commented:

“We continue to see significant upside at Henty, and I’m very pleased with the near 30% increase in Reserves we are now reporting.

.

“We are focused on building both mine life and resilience at Henty over the next 12 months.

 

“We have brought in the second underground diamond drill rig, giving us dedicated capacity for exploration and resource extension, ultimately targeting continued Resource growth.

.

“We have committed to increasing the processing rate, which removes a significant constraint on underground production potential, de-bottlenecking the decline so we can deliver to the processing plant, and bringing in more productive equipment as key improvements to drive performance.

 

“We expect to see continued improvements across the business during the financial year.

 

“This is another step that confirms Kaiser’s transformation into a profitable gold producer, with Henty providing a solid production and cashflow base on which to build the Company.”

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To read the full news release please click HERE

——-

To View Kaiser Reef’s current share price and chart, please click HERE

To View Kaiser Reef’s historical news, please click here

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

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

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

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

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

.

=======

,

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

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

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

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

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Disclosure

At the time of writing the author holds shares in Kaiser Reef. 

.

To read our full terms and conditions, please click HERE

G Mining Ventures (TSX: GMIN)

Announced that its Board of Directors has formally approved the commencement of full construction of its 100%-owned Oko West Gold Project in Guyana, following the completion of permitting and financing milestones.

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Ora Banda Mining (ASX: OBM)

Reported its activities for the September 2025 quarter, during which the Company achieved record production and cash flows driven by an increased gold price, an increased contribution from Sand King and improvements in processing performance.

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Ora Banda mine location map – Credits Ora Banda Mining

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Ora Banda Mining Reports Record Revenue and Production

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Ora Banda Mining Ltd (ASX: OBM) (“Ora Banda” or “the Company”) is pleased to report its activities for the September 2025 quarter, during which the Company achieved record production and cash flows driven by an increased gold price, an increased contribution from Sand King and improvements in processing performance.

Ora Banda strengthened its cash position, which increased by $38.5 million over the quarter to $122.7 million.

This was achieved while investing $49.5 million in capital projects, resource development and exploration as follows:
• $25.0 million on Riverina & Sand King Underground development (sustaining & growth);
• $10.9 million on growth and sustaining infrastructure; and
• $13.6 million on resource development & exploration activities.

The closing cash was also net of $7.4 million paid for Put Option premiums, including $2.3 million for existing deferred premiums and $5.1 million for new Put Options over 33.3koz for July to October 2026 at an average exercise price of A$5,013/oz.

Third party milling continued at NGF’s Paddington mill during the quarter, utilising excess stockpiles.

A total of 54.5kt was sold and milled, resulting in 3.6koz attributed ounces. Haulage to
the Paddington mill was impacted by wet weather and road closures.

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The full news release can be viewed HERE

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To view Ora Banda’s latest share price and chart, please click HERE

Horizon Minerals (ASX: HRZ)

Provided an update on the drilling program under way at its 100% owned high-grade Burbanks gold project, located 9km south of Coolgardie in the Western Australian Goldfields.

Results include some spectacular High-grade gold intercepts.

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Baroora gold project – Credits Horizon Minerals

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HORIZON MINERALS BURBANKS DRILLING RETURNING SPECTACULAR GRADES

Horizon Minerals Limited (ASX: HRZ) (“Horizon” or the “Company”) is pleased to provide an update on the drilling program under way at its 100% owned high-grade Burbanks gold project, located 9km south of Coolgardie in the Western Australian Goldfields.

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HIGHLIGHTS

• Underground mining at Burbanks historically produced 324koz @ 22.7g/t Au
• The historical production is in addition to the existing JORC (2012) Mineral Resource of:
o 6.1Mt grading 2.4g/t Au for 466koz 
• Horizon commenced a 30,000m drilling program in late June 2025, with the initial 15,000m targeting mostly infill to upgrade the existing resource. Eighteen of the planned 45 Phase 1 holes have been drilled with assays returned for 15 holes, with highlights as follows: 
o 1.55m @ 99.65g/t Au from 336.3m including 0.4m @ 350.00 g/t Au from 336.7m
and 0.35m at 64.29g/t Au from 336.3m (25HBBD004)
o 5.3m @ 3.49g/t Au from 235.7m including 0.6m @ 19.22 g/t Au from 238.7m
(25HBBD004)
o 1.7m @ 37.18g/t Au from 71.0m (25HBBD004)
o 3.7m @ 5.13g/t Au from 222.4m including 0.57m @ 27.52g/t Au from 224.8m
(25HBBD004)

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Managing Director and CEO Mr Grant Haywood said

“These spectacular high-grade intersections from our infill diamond drilling program further demonstrate the exceptional quality of the orebody and underscores the potential of our Burbanks project.

 

“Confirming such strong results within our existing resource area provides real assurance in the project and demonstrates the opportunity to deliver improved resource confidence that will feed directly into development studies, ultimately providing valuable high-grade feed to our 100% owned Black Swan processing plant.” 

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To read the full news release please click HERE

 

——-

 To View Horizon Mineral’s latest share price and chart, please click HERE

..To View Horizon Minerals’ 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 Horizon Minerals.

.

Capricorn Metals (ASX: CMM)

Capricorn and Warriedar Resources Limited (ASX: WA8) announced that Capricorn has increased the total consideration offered under the proposed share scheme of arrangement announced on 24 July 2025 whereby Capricorn proposes to acquire all of the fully paid ordinary shares in Warriedar.

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CAPRICORN INCREASES SCHEME CONSIDERATION

Capricorn Metals Ltd (ASX: CMM) (Capricorn) and Warriedar Resources Limited (ASX: WA8) (Warriedar) announce that Capricorn has increased the total consideration offered under the proposed share scheme of arrangement announced on 24 July 2025 whereby Capricorn proposes to acquire all of the fully paid ordinary shares in Warriedar (Share Scheme).

Capricorn has agreed to increase the consideration payable under the Share Scheme from 1 Capricorn share for every 62 Warriedar shares to 1 Capricorn share for every 52.75 Warriedar shares (Revised Share Scheme Consideration).

Based on Capricorn’s closing share price of $13.70 on 6 October 2025 (being the last date that Capricorn shares traded prior to this announcement), the implied value of the Revised Share Scheme Consideration is $0.26 per Warriedar share which represents a:1
• 24% premium to the closing price of Warriedar shares on ASX on 6 October 2025 (being the last day on which Warriedar shares traded before announcement of the Revised Share Scheme Consideration) of $0.21 per share; and
• 116% premium to the closing price of Warriedar shares on 23 July 2025 (being the last day on which Warriedar shares traded before announcement of the original Share Scheme) of $0.12 per share.

Capricorn and Warriedar have also agreed to revised terms as to the separate scheme of arrangement pursuant to which it is proposed that the outstanding Warriedar listed options will be exchanged for new Capricorn options at a revised ratio of 1 Capricorn option for every 52.75 Warriedar listed options (Revised Option Scheme Consideration) on equivalent terms including an adjusted exercise price and
the same maturity dates (Option Scheme).

If the Share Scheme and Option Scheme (Schemes) are implemented based on the Revised Share Scheme Consideration and the Revised Option Scheme Consideration (together, the Revised Consideration), Warriedar securityholders will own approximately 5.5% of the enlarged group (on a diluted basis).

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WARRIEDAR BOARD RECOMMENDATION

The Warriedar board of directors (Warriedar Board) unanimously recommends that Warriedar security holders vote in favour of the Scheme relevant to them, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the relevant Scheme is in the best

The implied value of the Revised Scheme Consideration will change with fluctuations in the Capricorn share price. 2 Based on Warriedar’s 1,195,615,371 ordinary fully paid shares, 77,968,358 Warriedar listed options, 39,217,666 performance rights and
5,000,000 unlisted options and Capricorn’s 431,616,488 ordinary fully paid shares. Assumes the Warriedar performance rights are converted into Warriedar shares prior to the record date of the Share Scheme and the Warriedar Unlisted Options are cancelled for cash consideration.

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To read the full report please click HERE

=======

To view the latest share price and chart, please click HERE

To View Capricorn Metal’s historical news, please click here

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

At the time of writing the author holds shares in Capricorn Metals

.

To read our full terms and conditions, please click HERE

.

Meeka Metals (ASX: MEK)

Reported assays from Turnberry North drilling at the Murchison.

New assays from the north eastern flank of Turnberry include:
25m @ 1.88g/t Au from 38m including 9m @ 3.93g/t Au, 6m @ 1.03g/t Au from 71m,  and 14m @ 0.97g/t Au from 95m including 5m @ 1.71g/t Au

.

Meeka Metals drill site – Credits Meeka Metals

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 Meeka  Reports Thick, High-Grade Gold in First Drilling at Turnberry North

Meeka Metals Limited (ASX: MEK) (“Meeka” or the “Company”) is pleased to report assays from Turnberry North drilling at the Murchison.

New assays from the northeastern flank of Turnberry include:
• 25m @ 1.88g/t Au from 38m including 9m @ 3.93g/t Au (25TBRC045)
• 6m @ 1.03g/t Au from 71m (25TBRC046) and
14m @ 0.97g/t Au from 95m including 5m @ 1.71g/t Au (25TBRC046)

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Initial drilling on the north eastern flank of Turnberry, at the Murchison Gold
Project (“Murchison”), has intersected broad zones of high-grade gold outside
the planned Stage 1 open pit, likely to expand the Resource, extend open pit
mining and add to underground production.

• Thick high-grade drill results from the north eastern flank of Turnberry
include:
o 22m @ 3.25g/t Au from 125m including 10m @ 6.03g/t Au (25TBRC052)
o 36m @ 1.07g/t Au from 32m including 11m @ 1.94g/t Au (25TBRC053) and
63m @ 1.02g/t Au from 90m (25TBRC053)
o 48m @ 1.26g/t Au from 117m including 17m @ 2.53g/t Au (25TBRC046)
o 25m @ 1.88g/t Au from 38m including 9m @ 3.93g/t Au (25TBRC045)
o 34m @ 1.13g/t Au from 30m including 6m @ 3.59g/t Au (25TBRC049)

• This is the first drilling at Turnberry North by Meeka with results expanding
mineralisation to the east and down-dip below the planned Stage 1 Turnberry
North open pit optimised at A$2,350/oz.
• These strong results highlight potential to grow the Resource and Reserves,
and will likely extend the Stage 1 open pits beyond the initial ~2 years
previously planned. The higher-grade zones in fresh rock below the pit are also
likely to grow underground production.
• Underground diamond drilling commenced at Andy Well in the September
2025 quarter with results expected in the December 2025 quarter onwards.

In addition to these positive drill results, operational performance at the
Murchison exceeded the ramp up schedule in the Feasibility Study (ASX: 12
Dec 2024) with September 2025 quarter gold production higher than
planned.

The mines and processing plant are performing well and continue to
ramp up.

Further detail on operational performance in the September 2025
quarter will be provided in the quarterly activities report.

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

“Given the pervasive nature of high-grade gold in this drilling, the first by Meeka in this area, the planned Stage 1 open pit at Turnberry North is currently being expanded to capture this additional mineralisation.

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This drilling also highlights increased grade in the fresh rock below the planned pit, including intervals of 10m @ 6.03g/t Au and 17m @ 2.53g/t Au, and is likely to grow
underground production.”

To read the full news release, please click HERE

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To view the latest share price and chart, please click HERE

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

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

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

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

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

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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 Meeka Metals. 

.

To read our full terms and conditions, please click HERE

Orla Mining Ltd. (TSX: OLA; NYSE: ORLA)

Provided an operational update for the third quarter ended September 30, 2025.

Orla is on track to achieve revised annual consolidated production guidance of 265,000 to 285,000 ounces of gold.

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Credits – Orla Mining

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G Mining Ventures (TSX: GMIN)

Announced production results for the three months ended September 30, 2025 for the Tocantinzinho Gold Mine  in the State of Pará, Brazil.

TZ produced 46,360 ounces of gold during Q3 2025, bringing production year-to-date at the end of September 2025 to 124,525 ounces of gold.

Photo credit – G Mining Ventures

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Kaiser Reef (ASX: KAU)

Reported on gold mining production activities for the quarter ending 30 September 2025.

The September Quarter is the first full period of Kaiser’s ownership of the Henty Gold Mine, and Gold produced was 8,115oz Au.

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Henty Gold mine, Tasmania – Credits Kaiser Reef

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Kaiser Reef Production Update Quarter ending September 2025

6 October 2025

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Kaiser Reef Limited (ASX: KAU) (“Kaiser” or “the Company”) is pleased to report on gold mining production activities for the quarter ending 30 September 2025.

The September Quarter is the first full period of Kaiser’s ownership of the Henty Gold Mine, and Gold produced was 8,115oz Au.

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Highlights

Henty Gold Mine Production (processed and reconciled) (1 July – 30 September)
• Tonnes (dry) processed: 68,675t
• Head grade: 4.12g/t
• Processing recovery: 89.1%
• Gold produced: 8,115oz Au

Other Activities
• Drilling commenced at the Maldon Gold Project (see ASX release 01/09/2025). Results expected during October.
• Henty Processing Plant modifications largely completed, including upgrade of tailings detoxification capacity. Increased throughput trials, with additional crushing capacity being installed, to start shortly.
• Henty Resources and Reserves update progressing well and expected release during October.
• A1 Gold Mine transitioning to Care and Maintenance (see ASX release 08/09/2025).
• Bulk sampling of historical material commenced through the Maldon Processing Plant.

More detailed updates will be provided as results are available for release and in the quarterly report.

Kaiser Reef Managing Director, Jonathan Downes, said:

“This has been a great quarter for Kaiser, marked by a successful first full quarter of ownership at the Henty Gold Mine, which produced well over 8,000 ounces of gold.

 

“Henty has solidified its position as our flagship production asset, and we are progressing on several fronts to realise continued upside from Henty.

 

“Our portfolio-wide activities have progressed significantly. Exploration drilling at Maldon has recommenced, targeting zones under the Union Hill Open Pit, and we are working through multiple pathways to ensure that the Maldon Processing Plant remains operational and ready for future mining production.

 

“Whilst we have committed to transitioning the A1 Gold Mine to care and maintenance, overall, we think this will place the company in a much stronger position going forward and ensure we realise the inherent value of the historic Maldon Gold Project.

 

“With robust gold production, a strong pipeline of exploration and development opportunities and a solid balance sheet, Kaiser is well positioned to capitalise on a surging gold price. I’m very pleased with where Kaiser is now positioned, and we are well set for organic production growth.”

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To read the full news release please click HERE

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To View Kaiser Reef’s current share price and chart, please click HERE

To View Kaiser Reef’s historical news, please click here

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

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

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

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

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

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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 Kaiser Reef. 

.

To read our full terms and conditions, please click HERE

Minerals 260 (ASX: MI6)

Advised that further results from its ongoing drilling program at the Bullabulling Gold Project, located 25km west of Coolgardie in Western Australia, continue to support an increase to the current 2.3 Moz Mineral Resource Estimate.

Assays have been received for a further 73 drill holes totalling 16,415m, including:
Bacchus Deposit (current resource 22Mt @ 1.3g/t Au for 890koz Au).

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Bullabulling- mine – Courtesy of Minerals 260

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Minerals 260 Reports Thick, shallow high-grade intercepts to support Bullabulling resource upgrade

Minerals 260 Limited (ASX:MI6) is pleased to advise that further results from its ongoing drilling program at the Bullabulling Gold Project, located 25km west of Coolgardie in Western Australia, continue to support an increase to the current 2.3Moz Mineral Resource Estimate (MRE).

Assays have been received for a further 73 drill holes totalling 16,415m, including:
Bacchus Deposit (current resource 22Mt @ 1.3g/t Au for 890koz Au).

Highlights

New results include 10m @ 7.0 g/t Au,
7m @ 8.8 g/t Au and 32m @ 1.6 g/t Au

Infill
• 6m @ 2.5 g/t Au from 88m, 16m @ 1.0 g/t from 260m and 12m @ 1.1 g/t from
288m in BBRC0199#
, including:
 1m @ 13.6 g/t Au from 88m
• 16m @ 1.2 g/t Au from 166m in BBRC0233*
• 19m @ 2.4 g/t Au from 153m in BBRC0235*, including:
 3m @ 9.5 g/t Au from 167m
• 13m @ 3.1g/t Au from 168m in BBRC0249*, including:
 3m @ 8.5g/t Au from 172m
• 8m @ 1.3g/t Au from 8m and 4m @ 5.7 g/t Au from 78m in BBRC0260#
• 7m @ 8.8 g/t Au from 135m and 8m @ 3.1 g/t Au from 220m in BBRC0263*,

* True widths of mineralisation are estimated at between 85% and 95% of the reported drillhole intercepts

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Management Comment

Minerals 260 Managing Director, Luke McFadyen, said: 

“Our infill and extensional drilling is consistently delivering strong results, with the latest thick and shallow higher-grade intercepts providing further support for a MRE upgrade in December.

 

“Our development studies are advancing rapidly, and the recent completion of geotechnical and metallurgical drilling for the PFS and the commencement of metallurgical test work represents a significant value-adding and de-risking event for the Project”

To read the full news release please click HERE

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To view the latest Minerals share price and chart, please click HERE

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.To View Minerals 260’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

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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 Minerals 260

.

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Pacgold (ASX: PGO)

Has successfully raised A$13 million to complete the acquisition of the White Dam Gold project.

Funds raised from the Placement will be applied towards the acquisition of the White Dam Gold Project, refurbishment and restart of existing plant and infrastructure at White Dam, exploration and drill outs on the existing delineated resources.

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Pacgold Alice River drilling – Courtesy of Pacgold Ltd.

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Pacgold Confirms The Successful $13 million Placement for White Dam Gold Operation

HIGHLIGHTS

• Firm commitments received for a $13.0 million Placement
• Strong support from new and existing institutional and sophisticated
investors
• Funds raised will be used to acquire and restart the White Dam Gold Project and to advance exploration at the Company’s North Queensland Projects

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Pacgold Limited (ASX: PGO) (Pacgold or the Company) is pleased to announce it has received firm commitments for a $13.0 million two-tranche placement (Placement)
via the issue of 173.3 million new fully paid ordinary shares in the Company (New Shares).

Funds raised from the Placement will be applied towards the acquisition of the White Dam Gold Project, refurbishment and restart of existing plant and infrastructure at White Dam, exploration and drill outs on the existing delineated resources, study work and exploration at the Company’s North Queensland Gold-Antimony Projects.

A new investor presentation of the White Dam Project can be viewed HERE

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Pacgold’s Managing Director, Matthew Boyes, commented:

“The support from existing and new shareholders for the Placement is a clear demonstration of support for this transformational acquisition of the White Dam Gold Operation in South Australia.

 

“This strategic acquisition marks a pivotal step in Pacgold’s evolution of its project portfolio, and a pathway to near-term gold production and cash flow generation.

 

“The White Dam Gold Project, with its established infrastructure, existing JORC Resource and remaining gold in the heap leach, provides an exceptional opportunity to rapidly restart operations with minimal capital outlay against the highly attractive gold pricing environment.

 

“This acquisition not only delivers immediate production capacity but also adds substantial exploration upside across a large, prospective tenement package.

 

“Combined with our advancing North Queensland gold-antimony projects, this positions Pacgold with a powerful blend of production, growth and discovery potential — setting the stage for an exciting new phase of value creation for our shareholders.”

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To read the full news release, please click HERE

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G Mining Ventures (TSX: GMIN)

Announced that it has secured commitments for an initial US$387.5 million financing package, with the potential to be increased by an additional US$150M beginning six months after closing, subject to lender approval, for construction of the Oko West gold mine in Guyana.

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G Mining Oko West project panoramic view – Courtesy of Reunion Gold

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G Mining Ventures Secures Financing to Construct Oko West

BROSSARD, QC, Oct. 6, 2025 /CNW/ – G Mining Ventures Corp. (“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has secured commitments for an initial US$387.5 million (“M“) financing package, with the potential to be increased by an additional US$150M beginning six months after closing, subject to lender approval.

This financing package, which could total up to US$537.5M, provides the Corporation with the financial flexibility to advance the development and construction of its 100%-owned Oko West Gold Project (“Oko West” or the “Project“) in Guyana.

The financing package is anchored by an agreement (the “Agreement“) with a syndicate of financial institutions (the “Syndicate“) for a revolving credit facility (the “Revolving Credit Facility” or “Facility“) that allows the Corporation to borrow up to US$350M, with an accordion feature for an additional US$150M available post-closing, subject to customary conditions.

The Syndicate is led by National Bank Capital Markets (“National Bank“) and Macquarie Bank Limited (“Macquarie“) as joint bookrunners and co-lead arrangers, with participation from Bank of Montreal, ING Capital LLC, Royal Bank of Canada, Citibank and CIBC.

In addition, Komatsu Finance Chile S.A. (“Komatsu Finance“), a subsidiary of global equipment leader Komatsu Ltd., and GMIN Ventures Guyana Inc., an indirect wholly owned subsidiary of GMIN, are pleased to announce the execution of a Master Loan and Security Agreement (“MLSA“) to finance the procurement of mining and construction equipment for the development of the Project.

Under the terms of the MLSA, Komatsu Finance will provide financing through multiple equipment notes with a total principal amount not to exceed US$37.5M.

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Julie Lafleur, VP Finance & Chief Financial Officer commented,

“With these financing arrangements in place, together with strong cash flow from the Tocantinzinho Mine, we now have the financial resources required to bring Oko West into production.

 

“This entirely non-dilutive package increases financial capacity, provides additional flexibility, and reflects the confidence of National Bank, Macquarie, Komatsu Finance and the broader syndicate in our ability to deliver.

 

“We remain focused on disciplined capital allocation and advancing Oko West responsibly, on schedule, and within budget to generate meaningful value for all stakeholders.”

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Following the receipt of the Oko West environmental permit  from Guyana’s Environmental Protection Agency on September 2, 2025, and with this financing package now in place, GMIN is positioned to make a Final Investment Decision (“FID”) on the Project later this month, which will outline the forecasted initial capital cost, investment incurred to date, and remaining expenditures through to completion.

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Summary of Revolving Credit Facility Terms:

• Credit Facility: Senior secured revolving facility of US$350M, with an accordion option for an additional US$150M available six months after closing, subject to lender approval.
• Maturity: Initial term of up to 3 years from closing, with annual extension options to reset tenor back to 3 years subject to lender’s consent.
• Use of Proceeds: General corporate purposes, including refinancing existing debt, Oko West Project development and supporting working capital.
• Pricing: SOFR plus a 0.10% credit spread adjustment, and an applicable margin ranging from 2.75% to 3.75%, depending on the net leverage ratio.

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To read the full news release, please click HERE

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Capricorn Metals (ASX: CMM)

Maintains group Ore Reserve Estimate at 30 June 2025 at 4 million ounces of gold after another strong year of production.

The ongoing drilling at the Mt Gibson Gold Project since the last ORE update for that project in November 2024 will be used to underpin an updated open pit ORE in Q3 FY26 and maiden underground ORE in H2 FY26.

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Capricorn Metals projects location map – Credits Capricorn Metals

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CAPRICORN METALS ANNOUNCE 4.0 MILLION OUNCE GOLD RESERVES – OPEN PIT & UNDERGROUND UPDATES PENDING

Capricorn Metals Limited (ASX: CMM) maintains group Ore Reserve Estimate (ORE) at 30 June 2025 at 4.0 million ounces of gold after another strong year of production.

The ongoing drilling at the Mt Gibson Gold Project since the last ORE update for that project in November 2024 will be used to underpin an updated open pit ORE in Q3 FY26 and maiden underground ORE in H2 FY26.

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HIGHLIGHTS

• Capricorn Metals Limited (ASX: CMM) maintains group Ore Reserve Estimate (ORE) at 30 June 2025 at 4.0 million ounces of gold after another strong year of production.
• Ongoing drilling at the Mt Gibson Gold Project (MGGP) since the last ORE update for that project in November 2024 will be used to underpin an updated open pit ORE in Q3FY26 and maiden underground ORE in H2FY26.
o The maiden MGGP underground Mineral Resource Estimate (MRE) of 6.8 million tonnes at 3.1g/t Au for 684,000 ounces reported in July 2025 is currently subject to infill drilling and a scoping study due in Q2FY26 and a maiden underground ORE to follow in H2FY26.
• Drilling at the Highway, Aries and Comanche satellite pits at MGGP has delivered an increase of 144,000 ounces (5.6%) in the MGGP ORE.
• At the Capricorn group level, the increased ORE in MGGP offsets mining depletion from Karlawinda Gold Project (KGP) where resource definition drilling is underway to facilitate an update to the KGP ORE in H2FY26.
• Updated Capricorn Group ORE 148.6 million tonnes at 0.8 g/t Au for 4.03 million ounces of gold.
o MGGP ORE 95 million tonnes at 0.9 g/t Au for 2.74 million ounces.
o KGP ORE 53.6 million tonnes at 0.8 g/t Au for 1.30 million ounces after mining depletion.
• Gold price used in ORE pit optimisations unchanged2 from 2024 estimates at A$2,200 per ounce, (approximately $3,600/oz below the current spot price) helping drive Capricorn’s low operating costs and long term growth optionality.
• Updated Group Mineral Resources Estimate (MRE) of 243.6 million tonnes at 0.8g/t for 6.62 million ounces.

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Capricorn Executive Chairman Mark Clark commented:

“We are pleased to have maintained our high quality group ore reserves at 4.0 million ounces of gold after another strong year of gold production.

 

“Major updates to ore reserves are due at both Mt Gibson and Karlawinda in the next 6 months as aggressive drill programmes deliver continued growth in resources
and reserves.

 

“The exciting maiden underground resource at Mt Gibson is currently the subject of a scoping study designed to frame the potential of the underground project and start the full study workflows to deliver a maiden underground reserve later in the financial year.

 

“This will further add to the quality and longevity of Mt Gibson, a project which is clearly one of the most compelling development opportunities in the Australian mid-tier gold sector.”

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To read the full report please click HERE

=======

To View Capricorn Metal’s historical news, please click here

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

At the time of writing the author holds shares in Capricorn Metals

.

To read our full terms and conditions, please click HERE

.

Orla Mining (TSX: OLA; NYSE: ORLA)

Announced a major exploration success at the Musselwhite Mine in north western Ontario, with drilling confirming a potential two-kilometre extension of the mine’s main gold trend beyond current resources.

Deep directional drilling has intersected high-grade gold mineralization 1.6 kilometres along strike

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Orla Mining  Musselwhite gold mine map – Courtesy of Orla Mining

Pacgold (ASX: PGO)

Pacgold announce they are acquiring the White Dam Gold Operation in South Australia.

The Agreement is with GBM Resources Ltd (ASX: GBZ) for the acquisition of 100% of the issued capital of Millstream Resources Pty Ltd, which holds a 100% interest in the Project (‘Acquisition’).

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Pacgold – White Dam Project – Courtesy of GBM Resources

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Comment

I like this news, it looks sensible, and moves Pacgold into the league of small producers generating cashflow to assist their exploration activities whilst minimising dilution to shareholders.

I am a great fan of this model, hence my shareholdings in Horizon Minerals, Kaiser Reef, Meeka, and New Murchison Gold.

Let’s hope the financing goes smoothly, at a decent price.

I am going to consider a top up depending upon where the price sits after the stock commences trading again, it is currently halted.

Pacgold to Acquire White Dam Gold Operation in South Australia

A clear pathway to near-term gold production and cash flow

Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce it has executed a Share Sale and Purchase Agreement (‘Agreement’) to acquire the White Dam Gold Operation (‘Project’) located in South Australia.

The Agreement is with GBM Resources Ltd (ASX: GBZ) for the acquisition of 100% of the issued capital of Millstream Resources Pty Ltd, which holds a 100% interest in the Project (‘Acquisition’).

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HIGHLIGHTS

• WHITE DAM GOLD OPERATION ACQUISITION- Pacgold to acquire 100% of the White Dam Gold Operation (Project) in South Australia through from GBM Resources Ltd (ASX: GBZ).
• HISTORIC PRODUCTION & JORC 2012 RESOURCE – Operational from 2010, White Dam has produced ~180,000oz of gold from heap leaching 7.5Mt of ore at 0.94 g/t Au. Production was from two pits, Hannaford and Vertigo, with a remaining JORC 2012 Resource of 4.6Mt @ 0.7 g/t Au for 102Koz1 (~29% Indicated Category).
• SIGNIFICANT INFRASTRUCTURE FOOTPRINT – The White Dam Gold operation includes open pit mines, heap leach pad, full personnel camp and operational gold extraction plant with related infrastructure.
• NEAR-TERM CASH FLOW & EXPANSION POTENTIAL – Pacgold is targeting near term cashflow through retreatment and re-crushing of existing heap leach material on final lift of pad, involving minimal future expansion capital requirements and unlocking significant near mine resource development and exploration potential
• STRATEGIC PROJECT LOCATION – The Project is located near well-established mining services and workforce, approximately 80km southwest of Broken Hill, providing a strategic and transformational addition to the Company’s highly prospective gold and antimony exploration projects in northeast QLD.
• ATTRACTIVE CONSIDERATION – Total consideration for the acquisition comprises a
combination of: 1) a $AUD1.2 million upfront cash payment inclusive of $AUD 75,000
exclusivity fee, funded by existing cash on completion; 2) issue of 15 million FPO Pacgold shares which will be subject to a 12-month voluntary escrow period; and 3) a contingent payment of $AUD2.2 million, payable in cash or Pacgold shares (at Pacgold’s election), upon achieving commercial production of at least 5,000oz of gold at the Project.
• CAPITAL RAISE- Pacgold has engaged Bell Potter and Taylor Collison to act as Joint Lead Managers (JLM’s) to undertake a capital raise to secure funding to advance the acquisition and for restart of the White Dam project.

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Pacgold’s Managing Director, Matthew Boyes, commented:

“We are delighted to have secured this transformational acquisition for Pacgold, providing a clear pathway to near-term gold production and cash flow from the White Dam Gold Operation in South Australia, only 80km from the well-established mining hub of Broken Hill and with a fully operational plant with significant production history, and minimal up front capital required to recommence gold production.

 

“With gold remaining in the heap leach and a solid JORC Resource base, White Dam offers both immediate production opportunity and significant growth potential through future resource development and exploration over a large tenement package with multiple drill ready targets.

 

“Importantly, this acquisition complements our existing portfolio, enabling us to generate short term cash flow while continuing to advance our flagship Alice River Gold Project and the St George Gold-Antimony Project in northeast Queensland.

 

“Together, these assets position Pacgold with a unique project portfolio of near-term production, resource growth, exploration upside and consistent year-round news flow for our shareholders, I’m really looking forward to this next chapter in the Pacgold story.”

 

 

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To read the full news release, please click HERE

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