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

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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 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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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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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

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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 Calibre Mining

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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

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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 Gold Road Resources

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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

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.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

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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 Westgold.

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West Red Lake Gold Mines  (TSXV: WRLG)

Provided a positive update on restart and readiness activities, including the in-progress bulk sample, at its 100% owned Madsen Mine project in the Red Lake Gold District of Northwestern Ontario, Canada.

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Bulk samples ready at the Madesn Gold Mine.

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Shane Williams, President and CEO said

“With test mining underway, bulk sample stockpiles building on surface, and the mill set to initiate campaign processing in the coming weeks, we have achieved many key operational milestones at the mine site.

 

“The connection drift development and test mining efforts have been very successful to date, which is a testament to our mine crews’ ability to operate safely and efficiently. I’m proud to say that the ramps, sills, and stopes we are developing at Madsen are best in class.

 

“Things are increasingly busy across the site with final installation work underway for the camp and mine dry facilities, mine engineering picking up pace, and a headcount that stands at 185 employees and 50 contractors currently active on site.

 

“The team is excited to get the bulk sample complete, which is expected to demonstrate that our approach to mining at Madsen works, followed by rolling into production mining and processing with an aim to start selling gold into this record price environment, where gold is selling for over CAD$4,100 per ounce today.”

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Bulk Sample

The bulk sample program includes plans to mine at least 10,000 tonnes of material from six stopes.

The Company prioritized parts of the Madsen resource for extraction early in the mine life based on grade, tonnage, and ease of access. These areas saw access development, definition drilling, and mine engineering over the last 16 months and now constitute the mineral inventory in the 12-month detailed mine plan.

The bulk sample program targets stopes in three such areas: the 1099/1100 area of the Austin resource, the 1407 area of the McVeigh resource, and the 987 area of the South Austin resource.

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FIGURE 1: Long section showing part of the Madsen Mine deposit with bulk sample areas highlighted. Modern workings (post 2019) shown in green; Connection Drift in blue.

Bulk sampling from several areas amplifies the benefits of test mining by:

• Testing drill density and modeling techniques for different zones of the deposit,
• Allowing crews to deploy the range of mining methods that will be used at Madsen, and
• Helping to solidify mining procedures in proximity to old workings by validating historical data and confirming geotechnical competence assumptions (with respect to both void and backfilled historical stopes).

At present, 3,380 tonnes of bulk sample material are on surface from two stopes. The remaining stopes will be drilled, blasted, and mucked over the coming weeks.

 

 

.said Maurice Mostert, Vice President Technical Services.

Maurice Mostert, Vice President Technical Services said,

“The first stopes mined have provided valuable insights into the effectiveness of the drill and blast designs, the geological modelling techniques, and the overall development processes required.

 

“Initial results are showing that our drill and blast techniques and design criteria are very effective at controlling fragmentation size and dilution.”

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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

.

=======

,

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 West Red Lake Gold Mines.

.

To read our full terms and conditions, please click HERE

City Investors Circle

Both the Canadian and US stock markets are closed today due to national holidays in both countries.

Expect a low trading day in gold in London.

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City Investors Circle – Stock Markets Closed Today

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Both the Canadian and US stock markets are closed today due to national holidays in both countries.

It’s Family Day in Canada, and the celebration of George Washington’s birthday in the USA.

Expect a low trading day in gold in London, currently trading at $2,900 in London at midday.

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Capricorn Metals (ASX: CMM)

Published a new Corporate Presentation for the Bell Potter Conference.

Retail investors now own only 13% of the stock.

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Capricorn Metals Karlawinda Mine

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Capricorn Metals (ASX: CMM)

Published a new Corporate Presentation for the Bell Potter Conference.

Retail investors now own only 13% of the stock.

The new presentation can be viewed by clicking HERE

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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

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To read our full terms and conditions, please click HERE

Ora Banda Mining (ASX: OBM)

Provided an update on its continued exploration success at the high-grade Riverina Gold Camp.

Deep drilling at Riverina Underground confirms continuity of high-grade gold
mineralisation over 300m below the current mine plan, with the drill campaign still
progressing.

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ORA BANDA – SUCCESSFUL EXPLORATION DRILLING AT RIVERINA PAVES
THE WAY FOR MULTI-YEAR MINE LIFE EXTENSION

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

Highlights:

• Deep drilling at Riverina Underground confirms continuity of high-grade gold
mineralisation over 300m below the current mine plan, with the drill campaign still
progressing
• Extensional drilling from Riverina Underground extends mineralisation in central
area resulting in immediate additions to mine plan
• Potential new greenfields discovery at Little Gem, located 2.5km south along strike
of Riverina Underground with first drill hole intersecting 3 parallel lodes, at good
grade and width
• Board has approved additional spend of $16 million in Exploration & Resource
Development and $29 million in Capital to rapidly advance drilling and expand
infrastructure.

Since October 2024, two surface diamond drill rigs have been drilling to test depth extents at the Riverina Underground as well as 2 underground drill rigs focussing on near mine extensions. 

These programs are approximately 50% complete, however have delivered significant results by extending known structure and mineralisation to over 1km deep, which is 800m below the current working level and 500m below current mine plan.

In addition, the deep drilling has identified a high-grade shoot that is over 600m below current workings and 300m below current mine plan with intersections of 2.9m @ 36.0 g/t and 2.9m @ 18.9 g/t on the main lode and remains open at depth.

Significantly, the latest drilling results demonstrate the continuity of the mineralised structures which remain open and display strong tenor and grade in the deepest holes.

The main lode mineralised structure has been intersected in its anticipated position despite large step outs and drill hole depths in excess of 1km.

The high-grade shoot style of the mineralisation is consistent with what is observed in the current underground workings.

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

“The significant results that are flowing from deeper drilling at Riverina Underground are nothing short of remarkable and point to a future step change for the business as we can now see through to a multi-year expansion in mine life.

“Equally as exciting has been the first hole, a potential greenfields discovery, at Little Gem. The tenor of Little Gem’s mineralisation and its multi-lode structure exemplifies the highly prospective nature of the Riverina trend.

 

“We will be following up the discovery hole and otherprospects to the south as a priority.

“With the potential value creation that extending and expanding Riverina presents, the additional exploration and capital spend approved by the Board sets Ora Banda on the path of rapidly realising further value from the drill bit.”

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To read the full news release, please click HERE

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Horizon Minerals (ASX: HRZ)

Provided an update on the development of the Phillips Find Gold Project.

Phillips Find Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited to develop and mine two open pits.

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Comment

Good news to see Horizon commencing with their first ore at Phillips Find, their second gold production operation, with Boorara already haveing commenced production in January 2025.

 

Gold prices are around A$1,000 per punce higher than Horizon previously calculated, a nice bonus as production starts.

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Horizon Minerals – PHILLIPS FIND – PROCESSING OF FIRST ORE

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Horizon Minerals Limited (ASX: HRZ) (“Horizon” or “the Company”) is pleased to provide an update on the development of the Phillips Find Gold Project (“Phillips Find”).

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HIGHLIGHTS

• Phillips Find Joint Venture (JV) Agreement in place with mining specialists BML Ventures Pty Limited (BML) to develop and mine two open pits.
• All management, technical, operational and maintenance roles is being undertaken by BML with oversight by the Company
• Low financial risk JV structure with BML funding all project costs, with net cashflow after asset recovery and repayment of costs to be split 50/50 between Horizon and BML
• Mine plan involves cutbacks to two existing open pits, Newhaven and Newminster
• Mining well advanced, with over 800,000 BCM (Bank Cubic Metres) mined to date in both the Newminster and Newhaven open pits
• Existing 200,000t Toll Milling Agreement executed with FMR Investments Pty Ltd (FMR) in May 2024 to be utilised for the Phillips Find JV ore.
• First ore from Phillips Find is being hauled to the Greenfields mill, with processing of the first 40,000t ore parcel due to commence next week for a period of approximately two weeks.

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 Managing Director and CEO Mr Grant Haywood Commented

“We are very pleased to be transporting our first ore from Phillips Find for treatment at the Greenfields mill.

 

“This marks another significant milestone in our journey to become a significant gold producer and demonstrates the team’s commitment to executing our strategy on schedule.

“We are now fully manned up and the team has been making good progress. We look forward to the next phase as we advance towards first gold production from Phillips Find and continue generating value for our shareholders in this high gold price environment.”

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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 Horizon Minerals.

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Lefroy Exploration  (ASX: LEX)

Announced that it has entered into a profit share mining agreement with BML Ventures Pty Ltd with regards to the Lucky Strike Gold Project .

This contains 9,600 ounces (Indicated 0.70Mt @ 1.93g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97g/t for 36,200 oz).

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Comment

Another step accomplished, and Lefroy move along towards early production and cashflow, once BLM’s capex has been returned.

I am going to check with the company the estimated BLM capex, and when it might be repaid ,so Lefroy can move into cashflow.

SX Announcement
ASX: LEX

Lefroy executes Agreement with BML Ventures to mine the Lucky Strike gold deposit

12 February 2025

Lefroy Exploration Limited  (ASX: LEX) (“Lefroy” or “the Company”) is pleased to
announce that it has entered into a profit share mining agreement with BML Ventures Pty Ltd (“BML”) with regards to the Lucky Strike Gold Project (“Lucky Strike”). which contains an MRE of 1.27 Mt @ 1.95 g/t Au for 79,600 ounces (Indicated 0.70Mt @ 1.93g/t Au for 43,400 oz. Inferred 0.57Mt @ 1.97g/t for 36,200 oz).

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HIGHLIGHTS

• Lefroy Exploration Limited (Lefroy) and BML Ventures Pty Ltd (BML) have
entered into a profit-sharing mining agreement in relation to the Lucky Strike
Gold Project, 60km southeast of Kalgoorlie, which contains a total MRE of 1.27
Mt @ 1.95 g/t Au for 79,600 ounces.
• Private mining contractor BML will be appointed as the statutory Mine Operator
and manage all mining activities and approvals, funding all capital and
operating costs required to advance the Lucky Strike Project.
• Net surplus cash (calculated after deduction of all expenses) to be distributed
evenly between the partners 50% LEX and 50% BML.
• Negotiations to finalise toll milling production partnerships and agreements
well advanced, with further updates scheduled in the March quarter.
• A preliminary 3000 metre RC drilling program to commence in late February,
designed to unlock further value at Lucky Strike, and refine resource models
ahead of final mine planning.
• This agreement strongly aligns with the Company’s mission of unlocking value
from its substantial +1million ounce Au resource base through resource growth
and strategic partnerships and occurs as the Australian dollar gold reaches
$4,600/oz for the first time.
• The profit-sharing agreement enables the Company’s to accelerate the mining
of Lucky Strike, with operations anticipated to commence in the second half of
2025.

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LEFROY CEO, GRAEME GRIBBIN, COMMENTED:

“We are delighted to be partnering with BML via this profit-sharing agreement at Lucky Strike.

 

“This partnership represents a truly defining moment for the Company, as we take a major next step down our pathway to realising value from the Lucky Strike project.

 

“Importantly, as stated in December 2024, this agreement represents a mutually beneficial arrangement for both parties, offering a very low risk pathway to development
for Lefroy, while engaging the services of an experienced mining contractor in BML to oversee, navigate and manage approvals and mining process, with Lefroy exposed to
minimal upfront cash contributions.”

BLM Ventures

BML is a privately owned mining contractor based in Kalgoorlie and has a strong track
record of funding, developing, and operating open pit gold mines.

With a strong technical focus, BML uses its low-cost owner/operator mining fleet and its
relationships with local toll treatment operators to maximise profitability and cash
generation from small to medium sized mining projects.

BML has recently collaborated with Auric Mining Limited (ASX:AWJ) on mining the Jeffreys Find Gold Project.

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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 Lefroy Exploration

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Capricorn Metals (ASX: CMM)

Advised that it has entered into a binding agreement with Top Iron Pty Ltd to acquire the prospective Mummaloo Project tenements and physical assets.

The Mummaloo Project covers approximately 219 square kilometres of tenure located contiguous to the north of Capricorn’s Mt Gibson Gold Project in the Murchison region of Western Australia.

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Capricorn Metals projects location map

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CAPRICORN EXPANDS MT GIBSON PROJECT TENURE WITH THE

ACQUISITION OF THE MUMMALOO PROJECT

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The board of Capricorn Metals Ltd (ASX: CMM) (“Capricorn” or “the Company”) is pleased to advise that it has entered into a binding agreement with Top Iron Pty Ltd (“Top Iron”) to acquire the prospective Mummaloo Project tenements and physical assets (“Mummaloo Project”).

The Mummaloo Project covers approximately 219 square kilometres of tenure located contiguous to the north of Capricorn’s Mt Gibson Gold Project (“MGGP”) in the Murchison region of Western Australia.

Highlights

The Mummaloo Project is considered highly prospective for gold mineralisation, featuring multiple settings conducive to hosting economic gold deposits.

Capricorn has already identified four target zones for exploration within the project tenure, with the highest priority target located only 6 kilometres northeast of current MGGP resources.

The acquisition also includes camp and office facilities currently being used by Capricorn exploration and development team prior to commissioning the Company’s 400 room camp at MGGP which is nearing completion.

The Mummaloo camp will be used as overflow and exploration accommodation going forward as required.

Other assets include small scale crushing and screening equipment (ex Top Iron magnetite iron ore mining operations), various ancillary equipment and several light vehicles. The utility of these assets will be assessed for future use.

The transaction consideration is $3.5 million, of which Capricorn has paid an initial cash deposit of $100,000. The balance of the consideration will be satisfied by the issue of fully paid ordinary Capricorn shares to Top Iron upon completion.

Completion of the acquisition is expected in February 2025, being subject only to procedural conditions precedent.

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Background of the Mummaloo Project

The Mummaloo Project, located approximately 295 kilometres north-northeast of Perth, lies between the townships of Wubin and Paynes Find within the Yalgoo-Singleton Greenstone Belt of the Murchison Province in Western Australia.

This region is well-regarded for its significant mineral discoveries. The Yalgoo-Singleton Greenstone Belt spans 190 kilometres and extends in a northnorthwest direction from Mt Gibson to north of Yalgoo town, and is also host to significant gold deposits such as Mt Gibson, Deflector, and Karara.

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Capricorn Executive Chairman Mark Clark commented:

“The acquisition of the Mummaloo Project significantly expands Capricorn’s Mt Gibson exploration footprint and add s highly prospective targets analogous and proximal to the Company’s current Mt Gibson resources.

 

“This provides Capricorn with an outstanding exploration opportunity with a view to adding meaningful additional ore sources to the Mt Gibson operation. We look forward to commencing active exploration on the project in 2025.”

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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

.

=======

,

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

.

Calibre Mining (TSX: CXB)

Announced additional discovery diamond drill results from its expanded 100,000 metre drill program at the Valentine Gold Mine located in Newfoundland & Labrador, Canada.

Highlights from today’s release include 3.08 g/t Au over 48.2 metres Estimated True Width.

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Calibre Expands Mineralization to Surface at Frank Zone, Up-Plunge of 2024 Results at the Valentine Gold Mine, Newfoundland & Labrador, Canada; Drilling Intercepts Include 3.08 g/t Gold over 48.2 Metres, 1.62 g/t Gold over 44.6 metres, 1.94 g/t Gold over 36.4 Metres and 3.47 g/t Gold over 12.6 metres; New Discovery Frank Zone Now Traced Over 1 Kilometre Along Strike and 500 Metres Deep 

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Horizon Minerals (ASX: HRZ)

Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.

Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025.

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Comment

This $30 million deal paves the way for Horizon to pick up Poseidon’s 422,000-tonne contained nickel resource grading 1 per cent, 18,300t of copper, 7800t of cobalt and the mothballed Black Swan nickel processing plant, 40 kilometres east of Kalgoorlie, Western Australia.

 

Horizon says the processing plant alone would otherwise cost $150m to replace.

 

The company recently issued 213 million new shares at 4.5 cents a share in a placement to Golden Crane Holdings to raise A$9.625 million. These funds will go towards further project development, and, potentially, debt retirement.

 

Horizon plans to do its own gold processing – the main reason for this acquisition, and will need to spend some money refurbishing the front end of Poseidon’s plant and installing gold processing facilities at the back end to make it fit for use.

 

This is exactly the type of company I like to invest in, bringing in early cashflow and using the funds generated to create shareholder value by exploration, without further dilution.

 

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Horizon Minerals Poseidon Takeover Gets The Green Light

Schemes of Arrangement – Court Approval of Schemes

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Horizon Minerals Limited (ASX: HRZ) 

Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.

The Schemes will become legally effective following lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC).

Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025.

Horizon and Poseidon are pleased to announce that the Supreme Court of Western Australia has today made orders approving the Schemes.

The Schemes will become legally effective following lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC).

Poseidon intends to lodge an office copy of the Court’s orders with respect to the Schemes with ASIC by 10 February 2025. Once this occurs, it is expected that Poseidon’s securities will be suspended from trading on the ASX at the close of
trading on 10 February 2025.

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Subsequent important events and dates

Date of the Schemes and last day of trading of Poseidon Shares and Poseidon Listed Options on ASX – 10 February 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 Horizon Minerals.

.

Barton Gold (ASX: BGD)

Confirmed that further RC drilling has been completed at the Tarcoola Gold Project’s (Tarcoola) Tolmer prospect in South Australia.

17 RC holes were drilled for a total of 2,230 metres completed.

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ASX Announcement
6 February 2025

Barton Gold 2,200m Follow-up Drilling Complete at Tolmer Au-Ag DiscoveryTesting strike extensions near grades of 83.6 g/t Au and 312 g/t Ag

Barton Gold Holdings Limited (ASX:BGD, FRA:BGD3, OTCQB:BGDFF) (Barton or Company) is pleased to confirm that further RC drilling has been completed at the Tarcoola Gold Project’s (Tarcoola) Tolmer prospect in South Australia.

17 RC holes were drilled for a total of 2,230 metres completed.

Drilling targeted potential extensions of higher-grade quartz sulphide veining, and below November 2024 aircore (AC) drilling which intersected gold but was unable to penetrate the underlying harder quartzite rock.

HIGHLIGHTS

• Significant gold and silver assays from May – July 2024 RC drilling include assays of 4m @ 24.6 g/t Au and 82.8 g/t Ag from 95m depth (incl. 1m @ 83.6 g/t Au and 312 g/t Ag from 97m) 
• Silver assays also remain outstanding for ~2,000m aircore (AC) drilling during November 2024

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Commenting on the recent drilling  Barton MD Alexander Scanlon said:

“We are excited to quickly follow up drilling at the Tolmer prospect, having recently identified high-grade silver alongside the previously reported high-grade gold intercepts.

 

“We are also looking forward to receiving the results of further silver assays from our November 2024 aircore drilling, which are now underway.”

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To read the full news release please click HERE

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.

The live gold price can be found HERE

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

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

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

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

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

.

=======

,

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

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

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

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

.

Disclosure

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

.

Calibre Mining (TSX: CXB)

Announced additional ore control reverse circulation drill results from its Leprechaun open pit at Valentine Gold Mine in Newfoundland and Labrador, Canada.

The Company has completed 21,500 metres of RC drilling on a 9 x 9 metre spacing.

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Leprechaun Open Pit Ore Control Drilling Increases Confidence and adds 30% Contained Gold versus the 2022 Reserve Model At the Valentine Gold Mine in Newfoundland and Labrador, Canada