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

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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 Horizon Minerals.

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Lefroy Exploration (ASX: LEX)

Announced that it has entered into an exclusivity and Heads of Agreement with BML Ventures Pty Ltd to negotiate a mining and profit-sharing agreement for the Lucky Strike Gold Project.

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Comment

This looks like a very sensible deal, given the high gold price in Australian dollars.

Other junior miners are looking to emulate this to cash in on the high gold price and avoid dilution by producing early cashflow.

The Lucky Strike deposit contains a resource of 1.27 Mt at 1.95 g/t Au for 79,600oz.

Lefroy has  signed its own 50-50 profit sharing agreement with BML, who puts up all the capex, which is generally pretty low. After that it’s a 50-50 profit share from the surplus that comes out of the toll treatment agreement.

The higher price of gold in Australian dollars encourages this type of mining agreement, which aligns with my personal prererence for mines going into early production to minimise dilution.

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Lefroy signs Agreement with BML Ventures to advance development of the Lucky Strike gold deposit

Lefroy Exploration Limited (ASX: LEX)  (“LEX” or “the Company”) is pleased to announce that it has entered into an exclusivity and Heads of Agreement with BML Ventures Pty Ltd (“BML”) to negotiate a mining and profit-sharing agreement for the Lucky Strike Gold Project (“Lucky Strike”).

HIGHLIGHTS

• Lefroy has executed an Exclusivity and Heads of Agreement with BML Ventures
Pty Ltd (BML) to support development of the Lucky Strike Gold Project with a
MRE of 1.27 Mt @ 1.95 g/t Au for 79,600 ounces.
• BML is a private mining contractor, with a proven track record of advancing
open pit gold mines in the Kalgoorlie-Kambalda region of WA, including their
recent collaboration with Auric Mining (ASX:AWJ) at Jefferys Find
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• This agreement provides the framework for both parties to complete
negotiations towards finalising a binding mine profit share agreement.
• The indicative non-binding material terms of the Exclusivity and Heads of
Agreement include:
o Once all upfront BML costs have been recovered, the net surplus cash
(profit) to be split between LEX 50% and BML 50%;
o On successful execution of a Profit-Sharing Agreement, BML will
coordinate and fund all pre-production mining approvals, capital and
ongoing operating costs; and
o BML to coordinate toll milling negotiations and scheduling with third party
mill processing plant operators.
• The parties have agreed to enter into binding exclusivity arrangements (30
business days) to complete due diligence and further negotiate and finalise a
Profit-Sharing Agreement in relation to the Lucky Strike Gold Project.
For details of the mine share agreement between Auric Mining and BML Ventures, refer to AWJ ASX

• Lucky Strike represents the first of a potential series of growth projects for the
Company with additional gold resources at Mt Martin and Burns Central
(together with Lucky Strike) totalling greater than 1 million ounces of gold.

LEFROY CEO, GRAEME GRIBBIN, COMMENTED:

“We are excited to embark on this major next step, in partnership with BML Ventures, towards unlocking value from our high-grade gold resource at the Lucky Strike Project.

 

“Partnering with a highly experienced mining contractor, we look forward to finalising negotiations with BML Ventures over the coming weeks, to secure a mine profit share agreement.

 

“The proposed mining and profit share agreement, whilst mutually beneficial to both parties, presents a very low risk pathway to development for Lefroy, with upfront capital
and ongoing operating costs funded by BML Ventures.”

BML Ventures is a privately owned mining contractor based in Kalgoorlie.

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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

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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 Lefroy Exploration

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Capricorn Metals (ASX: CMM)

Advised that Chief Executive Officer (CEO) Kim Massey will retire at the end of January 2025. Kim has overseen the transition of Capricorn from an advanced exploration company to a low-cost gold producer with multiple growth projects.

Current Chief Operating Officer (COO) Paul Criddle has been appointed CEO, reporting to Executive Chairman Mark Clark, effective 3 February 2025.

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Capricorn Metals projects location map

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Capricorn Metals Announces CEO Retirement and Succession

Capricorn Metals Limited (ASX: CMM) (Capricorn or the Company) advises that Chief Executive Officer (CEO) Kim Massey will retire from the role at the end of January 2025.

In his five years as CEO Kim has overseen the transition of Capricorn from an advanced exploration company to a low-cost gold producer with multiple growth projects.

Beyond his retirement, Kim will remain a part time consultant to the company ensuring the retention of his knowledge and expertise.

In the last six months Capricorn has undertaken a programme of recruitment of high-quality senior executives to bolster management depth as the company embarks on delivering its significant growth ambitions in the coming years.

This proactive approach to right sizing management for the future means that Capricorn is well placed for an orderly transition on Kim’s retirement. 

The Capricorn board is pleased to advise that current Chief Operating Officer (COO) Paul Criddle has been appointed CEO, reporting to Executive Chairman Mark Clark, effective 3 February 2025.

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Paul is a metallurgist with extensive experience in developing and operating gold mines in both Australia and Africa.

Since joining Capricorn in May 2024 Paul has overseen or been actively involved in:
• continued strong operational performance at the Karlawinda Gold Project (KGP);
• delivery of an increase in KGP gold ore reserves to 1.43 million ounces;
• delivery of a board approved expansion study to deliver growth in production at KGP to 150,000 ounces per annum;
• leading role on Mt Gibson Gold Project (MGGP) permitting, culminating in the recent
submission of Capricorn’s Public Environmental Report (PER) to the Department of Climate Change, Energy, the Environment and Water (DCCEEW) under the Environment Protection and Biodiversity Conservation Act 1999 in accordance with guidelines for the PER developed by DCCEEW and issued to Capricorn in July 2024;
• completion of successful $200 million capital raising to underpin growth;
• delivery of an increase in MGGP gold ore reserves to 2.6 million ounces; and
• significant shareholder, investor and equity market engagement.

Prior to joining Capricorn, Paul most recently held the roles of Chief Development Officer and COO at TSX listed Roxgold Inc from 2013 until its CAD$1.1 billion takeover by Fortuna Silver Mines Inc in 2021. 

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To read the full news release please click HERE

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The live Spot gold price can be found HERE

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

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

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

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

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

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

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

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

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

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Disclosure

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

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To read our full terms and conditions, please click HERE

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Ora banda Mining (ASX: OBD)

The company is the winner of the inaugural Mining.com.au Masters of Mining Emerging Explorer Award.

The award recognises an exploration company the market is beginning to notice due to a series of successes and positive outcomes, or whose market value has increased significantly over the course of the year, outperforming their peers.

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Ora Banda minesite, Western Australia

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Ora Banda Wins The Mining.com.au Masters of Mining Emerging Explorer Award

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Ora banda Mining (ASX: OBD)

The company is the winner of the inaugural Mining.com.au Masters of Mining Emerging Explorer Award.

The award recognises an exploration company the market is beginning to notice due to a series of successes and positive outcomes, or whose market value has increased significantly over the course of the year, outperforming their peers.

The full article regarding the award and the thesis for it can be read HERE

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To read the full news release, please click HERE

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Gold Road (ASX: GOR)

Published a new corporate Presentation showing the recovery from the rain event earlier this year, and a strong September quarter.

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Gold Road Gruyere Mine

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Gold Road Issues an Updated Corporate Presentation

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Gold Road (ASX: GOR) published a new corporate Presentation showing the recovery from the rain event earlier this year, and a strong September quarter.

The presentation can be viewed HERE

Highlights

The company reported strong quarterly results with a 10% increase in gold production at Gruyere, totalling 68,781 ounces for the September quarter.

This uplift comes as the joint venture with Gold Fields ramps up operations in the Stage 3 and 4 pits, with forecasted production at the lower end of the 290,000 – 305,000 oz Au guidance range for 2024.

The only small downside was that AISC rose to $2,551 per ounce, from the June quarter figure of $2,441 per ounce. With the gold price in Australian dollars around A$4,200 this is not a real concern, but compared to peers the costs still look a tad high.

Gold Road CEO Duncan Gibbs said,

“Our team has worked tirelessly to enhance productivity, and these efforts are beginning to reflect in our quarterly results.

 

“The Gruyere operation is well-positioned to meet its annual production targets.”

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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 Gold Road Resources

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BPM Minerals (ASX: BPM)

Announced final assay results from the second round of drilling at the Louie Gold Discovery within the Claw Project in Western Australia.

 Significant assay results include:  CAC186 – 25m @ 1.27 g/t Au (from 29m) including 2m @ 11.63 g/t Au (from 29m).

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BPM MInerals Further Assay Results Extend the Louie Gold Discovery

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BPM Minerals Ltd (ASX: BPM) (‘BPM’ or ‘the Company’) is pleased to announce final assay results from the second round of drilling at the Louie Gold Discovery within the Claw Project in Western Australia.

• Significant assay results include:
• CAC186 – 25m @ 1.27 g/t Au (from 29m) including 2m @ 11.63 g/t Au (from 29m)
• CAC223 – 10m @ 1.12 g/t Au (from 50m)
• CRC010 – 8m @ 0.95 g/t Au (from 94m) including 4m @ 1.64 g/t Au (from 97m)
• CAC213 – 3m @ 2.46g/t Au (from 45m)
• CAC194 – 7m @ 0.83 g/t Au (from 41m) inc. 3m @ 1.45 g/t Au (from 41m)
• Assay results define a 600m high-grade core at Louie consisting of multiple >1g/t Au assays including holes finishing in mineralisation lying within a 1,000m long, >100ppb Au gold in regolith anomaly.

• Planning for a 2,500m RC drilling program at Louie is underway, targeting the high-grade gold mineralisation at depth.
• Louie is located immediately south along strike of Capricorn Metals’ (ASX: CMM) 3.24Moz @ 0.8 g/t Mount Gibson Gold Project , giving BPM a prime opportunity within a proven gold corridor.
• Louie lies on the northern end of an ~8km long, highly prospective corridor that extends south to the Chickie Prospect. BPM intends to aggressively explore this underexplored corridor with aircore drilling planned for 2025.
• An additional 20km’s of prospective strike to be unlocked through fast-tracking of a new tenement application followed by aero-magnetic and soil sampling programs.

• A recent $1.675m placement was completed to drive exploration at the project.
Fig. 1 – MGGP-Claw Project Schematic Long-Section

Commenting on the drilling BPM CEO Oliver Judd:

“We are excited about the final assay results from our second round of air core drilling at the Louie greenfields gold discovery.

 

“Multiple holes have delivered over 1 g/t Au results, and several finishing in mineralisation near the standout discovery hole CAC186 – exactly what we wanted to see.

 

“We’re gearing up to test this discovery at depth with RC holes later this year. We are in a well-endowed gold environment lying immediately along strike from Mount Gibson, WA’s next gold mine in a ‘gold bull market’.

 

“Mt Gibson’s a 0.8 g/t resource so we’re highly encouraged to see multiple comparable intercepts in this early-stage drilling.

“”Environmental and heritage surveys are already underway or scheduled for the regional Aircore program, where we have ~20km of untested strike to explore, a rarity in the WA gold space.

 

“We’re fully funded after the recent $1.675m placement allowing us to aggressively explore the project. Investors can expect a steady stream of updates over the year as we advance the Louie Discovery and the broader project, which we believe has the potential to host multiple gold deposits.”

 

The Louie Prospect is located on the northern border of the Claw Project area immediately south along strike of a series of significant gold resources (Sheldon-Deep South-Gunslinger) and the recent high-grade Sundance gold discovery (16m @ 17.16 g/t and 15m @ 18.56 g/t Au3,7) made earlier in 2024. These gold deposits make up
the current southern extent of CMM’s MGGP.

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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 BPM MInerals

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To read our full terms and conditions, please click HERE

Impact Minerals (ASX:IPT)

Announced that it has appointed an experienced marketing manager to spearhead the company’s engagement with potential off–take partners and customers for High–Purity Alumina (HPA) produced from the Lake Hope HPA project, located 500 km east of Perth in Western Australia.

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Impact MInerals Project Update: Lake Hope High Purity Alumina (HPA) Project, WA.

Impact Minerals Limited (ASX:IPT) is pleased to announce that it has appointed an experienced marketing manager to spearhead the company’s engagement with potential off–take partners and customers for High–Purity Alumina (HPA) produced from the Lake Hope HPA project, located 500 km east of Perth in Western Australia.

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Highlights

• Marketing Manager with expertise in critical minerals, appointed to spearhead the company’s engagement with customers and off–take partners.
• Negotiation Protocol signed with the PBC for the Ngadju Aboriginal people with a first meeting set for October 16th.
• Mining studies completed with quotes awaited for costs for mining and transport of the lake sediment to Kwinana.
• Final report awaited for an upgrade of a significant part of the Lake Hope alumina resource to the Measured Resource category.
• Engineering studies for the proposed process plant in Kwinana continue on schedule with a focus on acid reuse.
• Testwork progressing with a 20 kg sample of intermediate material being prepared for acid leaching as part of the Low Temperature Leach Process.

New Marketing Manager

Joseph Casella joins Impact following five years at Tianqi Lithium, the majority owner of the Greenbushes lithium–tantalum mine, where he was responsible for the commercial aspects of the Kwinana Lithium Hydroxide plant.

This involved customer management and new product development for lithium
processing by–products, in particular providing marketing support for feasibility studies to beneficiate aluminosilicates into high–purity products.

Joseph’s expertise includes developing and refining market strategies, managing complex supply chains, leveraging benefits from international trading houses, and leading circular economy and ESG initiatives which will also form part of his role. His deep understanding of critical mineral markets, including lithium and aluminosilicates, positions him as the ideal leader for spearheading customer engagement in
Impact’s HPA business.

His proven track record in building strategic customer relationships and business
development will significantly contribute to driving growth and fostering new opportunities in this sector.

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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 Imoact MInerals.

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Lefroy Exploration  (ASX: LEX)

Provided an update to the Resource Estimate for the Burns Central prospect located in the Eastern Goldfields of Western Australia.

A significant shallow high-grade Au zone has been delineated within the existing Burns Central MRE, totalling 4.22Mt @ 1.18 g/t Au for 159,285 contained ounces which includes 46,538 oz of gold in oxide. 

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Lefroy Exploration – Burns RC drilling, August 2022

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Capricorn Metals (ASX: CMM)

Has published an updated corporate presentation, which was presented to investors at the recent Diggers and Dealers Mining Conference in Kalgoorlie, Western Australia.

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Capricorn Metals Karlawinda Mine

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Capricorn Metals Updated Corporate Presentation

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Capricorn Metals (ASX: CMM) has published an updated corporate presentation, which was presented to investors at the recent Diggers and Dealers Mining Conference in Kalgoorlie, Western Australia.

The share price is rising as the company progresses at Mt. Gibson, and the gold price rises to an all-time high, sending additional income straight to the bottom line from their Karlawinda mine production.

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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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Gold Road Resources (ASX: GOR)

Released finacial results for H1 2024, which were negatively effected by two months of reduced production due to incessant rainfall and flooding of the mine access road.

The company confirm reduced guidance after the rainfall event.

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GOLD ROAD NET PROFIT AND INTERIM DIVIDEND DETERMINED
FOR SIX MONTHS TO 30 JUNE 2024

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Half Year Performance and Profit

 Revenue from gold sales for the six months totalled $211.7 million (June 2023: $229.0 million)
 Gold sales of 63,542 ounces (June 2023: 80,115 ounces), with reduced production in March and April 2024 following an unprecedented and protracted regional rain event
 Operating cash flow for the six months to 30 June 2024 was $68.5 million (June 2023: $110.3 million) due to the impact of the rain event
 Group free cash outflow for the six months to 30 June 2024 of $4.2 million
(June 2023: $74.6 million inflow) following a $22.6 million tax payment4 associated with
the record profit in 2023
 EBITDA for the six-month period totalled $94.2 million (June 2023: $122.6 million)
 EBITDA Margin of 44% (June 2023: 54%)
 Consolidated net profit after tax for the six months of $43.1 million (June 2023:
$55.7 million)
 Basic earnings per share of 3.98 cents (June 2023: 5.17 cents) for six months
Strong Liquidity with Cash and Listed Investments
 Gold Road ended the half year with cash and short-term deposits of $79.4 million
(31 December 2023: $143.8 million), doré and bullion valued at $6.1 million and no debt
 Strategic listed investments valued at $478.4 million on 30 June 2024 (31 December 2023: $465.0 million)
Fully Franked Interim Dividend Determined for six months to 30 June 2024
 Fully franked dividend of 0.5 cents per share determined for six months to 30 June 2024 (June 2023: 1.2 cents)

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Production Outlook

 Gold Road’s 2024 annual gold production guidance remains at 290,000 to 305,000 ounces (145,000 to 152,500 ounces attributable) following a revision in July 20245
 Gold Road’s 2024 annual AISC guidance remains at A$2,050 to A$2,200 per attributable ounce
 Gruyere production ramping up through the second half of 2024

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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 Gold Road Resources

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Westgold Resources (ASX / TSX: WGX)

Presented the maiden Ore Reserve for its South Junction mine. 

South Junction is a part of a broader Bluebird – South Junction mining complex which is becoming the primary ore source for the Bluebird processing hub at Meekatharra with a 1.2Mtpa run rate targeted from Q3, FY25.

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BPM Minerals (ASX: BPM)

Updated on the Claw Gold Project’s impending phase 2 drilling program.

The Phase 2 AC/RC drilling program will commence in mid-August, designed to test the Louie gold anomaly – a 1km long, 100 ppb Au gold in regolith anomaly immediately along strike of Capricorn Metals Ltd.’s 3.24 Moz Mt Gibson Gold Project.

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BPM Minerals Phase 2 Drilling at Claw Gold Project Scheduled for August

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BPM Minerals Ltd (ASX: BPM) (‘BPM’ or ‘the Company’) is pleased to provide an update on the Claw Gold Project’s impending phase 2 drilling program.

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Highlights

• Phase 2 AC/RC drilling program to commence in mid-August following the recent receipt of final drilling approvals.
• Phase 2 drilling program designed to test the Louie gold anomaly – a 1km long, 100ppb Au gold in regolith anomaly immediately along strike of Capricorn Metals Ltd.’s 3.24Moz Mt Gibson Gold Project.
• The 3,000m combined AC and RC drilling program will add to the 8,890m already completed at Claw in Q1 2024.
• Drilling activities are being conducted alongside the ongoing application process for BPM’s recently acquired high-grade rare earth element Durack Project.
• Option Entitlement Issue being finalised.

The Claw Gold Project consists of 33km of highly prospective strike, immediately along strike of $2 billion Capricorn Metals Ltd.’s (ASX:CMM) 3.24Moz Mount Gibson Gold Project (MGGP).

The Claw Gold Project is set to be one of Australia’s next major gold mines underpinned by a ~5mtpa processing plant producing ~150koz p.a.

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The Company has recently received the final approval from the Department of Mines to undertake a 3,000m AC-RC drilling program at the Louie Prospect commencing in August 2024.

Environmental and heritage surveys were completed with the Badimia Native Title Group over the past 2 months.

The AC/RC drilling program at the Louie prospect is designed to further test the 1,000m long, 100ppb gold in regolith anomaly identified from the 1st phase of drilling undertaken earlier in the year.

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Commenting on the upcoming drilling program, BPM CEO Oliver Judd:

“We are looking forward to the Phase 2 drilling program at the Louie Prospect within the Claw Gold Project.

“Following our environmental and heritage assessment and PoW approval, we are now on schedule to recommence drilling in mid-August.

 

“The encouraging outcomes from initial exploration, combined with our strategic proximity to a large gold resource, uniquely position us to unlock substantial value in this prolific gold producing region of WA.”

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Louie Prospect

The Louie Prospect is located on the northern border of the Claw Project area immediately along strike of a series of significant gold resources (Sheldon-Deep South-Gunslinger) and the recent high-grade Sundance gold discovery (16m @ 17.16 g/t Au).

These gold deposits make up the current southern extent of the Capricon Metals’ MGGP.

To read the full news release, please click HERE

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To read our full terms and conditions, please click HERE

Capricorn Metals (ASX: CMM)

Announced an exploration update for their Mt. Gibson and KArlawinda gold projects in Western Australia. 

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Capricorn Metals projects location map

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Capricorn Metals Announces an Exploration Update

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Capricorn Metals (ASX: CMM) announced an exploration update for their Mt. Gibson and Karlawinda gold projects in Western Australia.

Highlights

Mt Gibson Gold Project (MGGP)

• A further 17,023 metres of RC resource definition and extensional drilling was completed at the MGGP during the March 2024 quarter.
• Assays received from 158 resource definition holes (22,851 metres) since the last update in January 2024 continue to return exceptional results within and extensional to the resource including:
• 46 metres @ 2.26g/t from 178 to 224m • 19 metres @ 4.42g/t from 276 to 295m
• 32 metres @ 2.38g/t from 220 to 295m • 2 metres @ 37.13g/t from 62 to 64m
• 19 metres @ 3.75g/t from 177 to 196m*
• 11 metres @ 6.11g/t from 95 to 106m
• 12 metres @ 5.28g/t from 90 to 102m • 11 metres @ 5.57/t from 20 to 31m
• 9 metres @ 6.13g/t from 170 to 179m • 15 metres @ 3.62/t from 29 to 44m
* intercept is outside of current resource pit shell
• 89,543 metres of drilling over the last year at the MGGP delivered a 380,000 ounce (26%) increase to the Ore Reserve Estimate (ORE) to 1.83 million ounces (refer ASX announcement dated 19 April 2024).
• Broad high-grade gold intercepts under the Orion and Lexington pits continue to demonstrate underground mining potential.

A 2,000 metre diamond drilling programme to continue testing for extensions to these zones has commenced.
• Drilling on unmined areas at the Comanche prospect, Orion Supergene, Lexington Trend, Tobais Find, Saratoga, Sheldon and Orion North (east of the main Gibson trend) continues to define zones of highgrade mineralisation.
• A total of 9 near mine exploration RC holes for 1,080 metres were completed at the Ace High and Big Whiskey prospects following up first pass AC intercepts reported in the December 2023 quarter.

Excellent first pass composite results were returned including:
• 16 metres @ 10.57g/t from 24 to 40m • 12 metres @ 1.78g/t from 60 to 72m
• A total of 199 Aircore holes for 10,562 metres were completed across near mine exploration targets.
Outstanding first pass composite results were returned including:
• 12 metres @ 3.86g/t from 48 to 60m • 12 metres @ 2.74g/t from 40 to 52m

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Karlawinda Gold Project (KGP)

• An RC infill drilling programme of 20,440 metres (114 holes) commenced at the Bibra, Southern Corridor and Berwick deposits to infill drill the deeper parts of the deposit to a drill density of 25 x 25 metres and allow the conversion of inferred material to indicated category for an update to the KGP ORE in the September 2024 quarter.

• RC results received from RC drilling completed in the December 2023 quarter at the Mumbakine Well and Carnoustie projects. Encouraging results were returned including:
• 8 metres @ 5.90g/t from 27 to 35m • 11 metres @ 1.87g/t from 30 to 41m
• 4 metres @ 2.64g/t from 72 to 76m • 12 metres @ 0.79g/t from 176 to 188m
• A 7,059 metre (38 holes) RC and 1,230 metre (43 holes) AC drilling programme was completed within the Mumbakine Well and Carnoustie project areas during the March 2024 quarter.

• 2,098-line km regional airborne gravity gradiometer and gravity survey completed. Multiple gravity-high
anomalies identified along magnetic corridors in proximity to known gold occurrences.

Mt Gibson Gold Project

Exploration activities at the MGGP during the March 2024 quarter focussed on progressing the extensional and infill resource drilling that commenced in January 2022 as well as near mine exploration drilling at prospects immediately adjacent to the Mt Gibson trend.

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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.

.

Disclosure

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

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Gold Road Resources (ASX: GOR)

Announced their 2023 Full year Financial and Production results.

THe company announced record revenue from gold sales for the full year of A$472.1 million (2022: $382.9 million) and fully unhedged gold sales of 161,472 ounces, at an average realised gold price of $2,924 per ounce.

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Gold Road Resources Gruyere Gold Mine at night

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Gold Road Resources Announce 2023 Full Year Results

FULL YEAR HIGHLIGHTS

Annual Profit and Cash Flow Generation

 Record revenue from gold sales for the full year totalled $472.1 million (2022: $382.9
million)
 Fully unhedged gold sales of 161,472 ounces (2022: 156,426 ounces) at an average realised gold price of $2,924 per ounce (2022: $2,448 per ounce)
 Record EBITDA for the 12-month period totalled $250.1 million (2022: $180.8 million) at an EBITDA Margin of 53% (2022: 47%)
 Record Net Profit after Tax for the 2023 financial year of $115.7 million (2022: $63.7 million)
 Record basic earnings per share of 10.73 cents (2022: 6.49 cents)
 Record operating cash flow for the 12 months to 31 December 2023 was $233.6 million (2022: $132.2 million)
 Record group free cash flow generated for 2023 was $140.2 million (2022: $77.5 million)

Strong Balance Sheet

 Gold Road ended the year in a strong position with cash and short-term deposits of
$143.8 million (2022: $74.4 million) after cash outflows of $63.4 million related
predominately to a strategic investment in De Grey Mining Ltd  and cash dividend
payments of $15.5 million
 Gold in circuit, doré and bullion on hand is estimated at $5.4 million
 Gold Road remains debt free
 Financial assets in the form of strategic investments valued at fair value of $465.0 million
on 31 December 2023 Fully Franked Final Dividend Determined for six months to 31 December 2023
 Fully franked final dividend of 1.0 cents per share determined for six months to 31 December 2023, in addition to the fully franked 1.2 cents per share interim dividend paid for the six months to 30 June 2023

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Production and Growth Outlook

 Gruyere has produced 1,240,464 ounces since first gold in June 2019 (100% basis)
 Gruyere is guided to produce between 300,000 and 335,000 ounces in 2024 (100% basis)
 Gold Road has attributable Mineral Resources of 4.5 million ounces and attributable Ore Reserves of 1.83 million ounces as at 31 December 20234
 Studies and drilling commenced to test further mining opportunities beneath the Gruyere Ore Reserve and at the Gilmour Mineral Resource at Yamarna
 Large Australia wide portfolio of greenfields exploration opportunities to be explored in 2024

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1 Gold Road operates to a calendar financial year
2 Free cash flow is reported before payment of dividends, debt or investment.

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To read the full news release, please click HERE

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Lefroy Exploration (ASX: LEX)

Announced assay results from its diamond drilling program at Goodyear Nickel Deposit  have returned highly elevated nickel values in hole GYD040.

Assays for this interval have now been returned, with nickel values confirming visual observations including an interval of 1.2m @ 10.01% Ni from 287.71m.

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Lefroy Exploration – Burns RC drilling, August 2022

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Comment

Lefroy Exploration is a component of our early stage explorers tier 4 watchlist.

I like Lefroy because its projects are located in a prolific region of Western Australia close to other producing mines and exploration projects.

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LEFROY ASSAY RESULTS CONFIRM HIGH GRADE NICKEL SULPHIDES AT GOODYEAR

ASX ANNOUNCEMENT I 10 JANUARY 2024

Lefroy Exploration Limited (ASX:LEX)  (‘Lefroy’ or ‘the Company’) is pleased to announce assay results from its diamond drilling program at Goodyear Nickel Deposit (Goodyear) have returned highly elevated nickel values in hole GYD040.

Goodyear is held by Lefroy’s wholly owned nickel focused subsidiary Hampton Metals Ltd (Hampton or HMT).

The Company acquired Goodyear in May 2023 through a Mineral Rights Agreement for Location 45 between title holder Franco-Nevada Australia Pty Ltd (“Franco-Nevada”) and Lefroy’s wholly owned subsidiaries (refer to ASX release 23 May 2023).

Assays for this interval have now been returned, with nickel values confirming visual observations including an interval of 1.2m @ 10.01% Ni from 287.71m.

The Company is highly encouraged by the intersection, which supports historical intercepts and confirms that Goodyear is host to high-grade nickel sulphides accumulated at the base of the ultramafic unit.

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LEFROY EXPLORATION MANAGING DIRECTOR, WADE JOHNSON SAID:

“The high-grade nickel intersection in the first hole of the program is a very good start to our exploration campaign at Goodyear.

 

“The intersection in GYD040 is one of the highest grade intervals of nickel mineralisation known at Goodyear, with our first drillhole intersecting massive sulphides on target and as modelled.

 

“This further demonstrates and supports the quality of previous drill information.

 

“Our expectation is that the host ultramafic in Location 45 will provide the opportunity to expand beyond the current resource of almost 15kt Ni at Goodyear, and grow to become a new nickel district near the prolific Kambalda nickel camp.”

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To read the full news release, please click HERE

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Capricorn Metals (ASX: CMM)

We are initiating coverage of Capricorn Metals, an ASX listed gold producer and exploration and development company based in Western Australia.

Capricorn exactly match our favoured criteria of production in a tier 1 jurisdiction, run by an experienced management team, with initial production and cashflow funding exploration and development of future projects, and organic growth.

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Capricorn Metals projects location map

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Capricorn Metals – Initiating coverage

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Capricorn Metals (ASX: CMM)

We are initiating coverage of Capricorn Metals, an ASX listed gold producer and exploration and development company based in Western Australia.

Capricorn exactly match our favoured criteria of production in a tier 1 jurisdiction, run by an experienced management team, with initial production and cashflow funding exploration and development of future projects, and organic growth.

The market cap at A$1.7 billion, or around £890 million, is higher than we would normally choose for a company to follow, but Capricorn fit our preferred criteria so well that I feel compelled to follow their story as they look poised for growth in the long term.

Following a succesful managament team with a track record of achievement has a good chance of ending well in my opinion.

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Capricorn Metals Company Profile

Capricorn Metals Ltd is an Australian based gold producer headquartered in Perth, Western Australia. The Company operates within two distinct project areas within Western Australia:

1. The Karlawinda Gold Project located 65 kilometres south-east of Newman in the Pilbara region of Western Australia which has been operational since June 2021; and
2. The Mt Gibson Gold Project which was acquired in July 2021 and is a development project located in the Mid-West region of WA, 280 kilometres northeast of Perth.

The management team behind Capricorn Metals are a very experienced team that has worked together for a number of years across a number of successful gold companies including Equigold NL and most recently Regis Resources Limited.

Over that time they have developed and operated several open-pit / CIL projects similar to Karlawinda, building a reputation for delivering strong returns to shareholders.

Across the two project areas the Company has a total Resource base of 4.4 million ounces, and 1.3 million ounces of Reserves.

In addition, the Company has a prospective tenement package at both Karlawinda and Mt Gibson and is actively exploring the region.

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The company website can be accessed HERE

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Karora Resources (TSX: KRR)

Announced financial and operating results for Q3 2023 and YTD 2023.

YTD 2023 production of 120,197 ounces increased 24% from 96,578 ounces for the same period in 2022, with the Company ending Q3 well positioned to achieve full-year 2023 production guidance of 145,000 – 160,000 ounces.

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KARORA RESOURCES REPORTS STRONG PRODUCTION, REVENUE, EARNINGS

AND CASH FLOW GROWTH IN THIRD QUARTER 2023

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To read the full news release, please click HERE

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Karora Resources (TSX: KRR)

Announced financial and operating results for the second quarter (“Q2 2023”) and first six months (“YTD 2023”) of 2023. 

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KARORA RESOURCES REPORTS RECORD PRODUCTION, SALES AND REVENUE, STRONG GROWTH IN EARNINGS AND CASH FLOW IN SECOND QUARTER 2023

Calidus Resources (ASX: CAI)

MD Dave Reeves was interviewed during the Kalgoorlie Diggers and Dealers 2023 mining conference.

He highlighted the progress the company has made and is making.

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Calidus Resources commemorative coin

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Calidus Resources Kive Interview at Diggers & Dealers 2023

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Calidus Resources (ASX: CAI) MD Dave Reeves was interviewed during the Kalgoorlie Diggers and Dealers 2023 mining conference.

He highlighted the progress the company has made and is making after a problematic mine startup.

He also alluded to the spin out of Pirra Lithium later this year, which should provide a boost to the shareprice, which is very low at just 17c currently.

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To listen to the live inverterview with Dave Reeves, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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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 Calidus Resources

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Rumble Resources (ASX: RTR)

Has intersected a potential 9-kilometre-by-3-kilometre zinc-lead deposit during RC drilling at the Earaheedy Project’s Sweetwater Trend.

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Rumble Resources Earaheedy map.

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Rumble Resources (ASX: RTR) has intersected a potential 9-kilometre-by-3-kilometre zinc-lead deposit during RC drilling at the Earaheedy Project’s Sweetwater Trend, in Western  Australia.

The newly-discovered deposit, named Mato Prospect, was outlined from the first five drill holes about 7.5 kilometres west of the Chinook Deposit.

This initial drill testing along with coincident Zn-Pb soil geochemistry has outlined
a potential 9km long x 3km area, (Mato Prospect), that could host a significant
new Zn-Pb sulphide deposit and add to the emerging world class base metal
system at Earaheedy.

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To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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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 Rumble Resources

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