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.

.

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.

.

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

1
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

.

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

.

=======

,

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.

.

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

=======

.

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

..

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

=======

.

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

..

Karora Resources (TSX: KRR)

The Globe and Mail reported recently that Canaccord Genuity analyst Jeremy Hoy assumed coverage on Monday for Karora Resources, commencing with a “buy” recommendation. 

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Globe analyst says Karora seen as a “compelling growth story”

2023-06-20 05:08 ET – In the News

Karora Resources (TSX: KRR)  Canaccord Genuity analyst Jeremy Hoy assumed coverage on Monday for Karora Gold, with a “buy” recommendation.

Mr. Hoy has set a share price target of C$7.50.

Analysts on average target the shares at C$6.66.

.

Mr. Hoy said

“We believe KRR offers a compelling growth story, quickly advancing towards its stated goal of reaching 200koz of annual gold production by 2025 (from 134koz in 2022).

 

“The company is now equipped with 2.6Mtpa of total processing capacity split between the HGO and Lakewood mills, both of which are fed by a variety of mines in the HGO area as well as KRR’s flagship Beta Hunt gold/nickel mine.

 

“The anticipated completion of Beta Hunt’s second decline by Q1 2023 is expected to double the mine’s current throughput to 2Mtpa, in support of this growth plan, which we forecast will boost KRR’s FCF to north of $110-million by 2024, presenting investors with a 14-per-cent-plus FCF yield.”

.

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

=======

.

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 Karora Resources

..

Cyprium Metals (ASX: CYM)

Advised it has secured an 18-month, A$21.0 million1 equivalent USD-denominated secured loan facility with Nebari Natural Resources Credit Fund II, LP.

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Cyprium Metals Secures A$21million of Funding

Secured Loan Agreement

Cyprium Metals Limited (ASX: CYM) (“CYM”, “Cyprium” or “the Company”) is pleased to advise it has secured an 18-month, A$21.0 million1 equivalent USD-denominated secured loan facility with Nebari Natural Resources Credit Fund II, LP.

The facility has refinanced the existing short term Secured Loan Deed facility with Avior Asset Management No. 2 Pty Ltd and provides working capital to advance the
development of Nifty.

Cyprium and Nebari have executed formal loan documentation for a Senior Secured Loan Facility (Loan Facility) to provide up to USD14.5 million in two Tranches, with USD7.5 million drawn at closing and USD7.0 million available to be drawn subject to a limited number of conditions precedent.

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Key terms of the Loan Facility

The material terms of the Loan Facility are as follows:
• Funded amount: up to USD14.5 million, net of original issue discounts (OID)
• Facility term: until 31 December 2024
• Coupon: Secured Overnight Financing Rate (SOFR) +6.5% p.a. payable monthly
• OID: 5.0% on Tranche 1 and 10.0% on Tranche 2
• Amortisation: 100% bullet on maturity
• Warrants: 2-year, 1 for 5.5 warrants which will be priced at either a 20% premium to the share price of a future equity raise or, if no equity raise is completed by 31 December 2023, the warrant strike price shall be priced at A$0.088 per share
• Security: over the assets of Cyprium and its projects.

The Loan Facility contains other terms and conditions that are customary for an agreement of this nature.
It is anticipated that this facility will be rolled into a larger, longer term development financing facility in the near term (likely within 12 months), pending the finalisation of the Nifty life of mine study on the integrated copper oxide Heap Leach SX-EW starter operation and the larger scale sulphide open pit (refer to CYM ASX announcement dated 23 May 2023 “Cyprium Metals Corporate Update).

These studies are currently underway and anticipated to be completed by Q1 2024.

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Management Comment

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Mr Donner, an executive with Cyprium commented

“We are very pleased to have secured financing with Nebari, who are a highly respected and experienced financier of mining projects globally.

 

“We look forward to working with Nebari in relation to this facility and also potential future facilities associated with the development of the large open pit project at Nifty.”

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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Karora Resources (TSX: KRR)

Announced financial and operating results for the first quarter of 2023.

Production of 39,827 ounces exceeded target levels and increased 45% from the first quarter of 2022.

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KARORA RESOURCES REPORTS RECORD PRODUCTION, IMPROVED OPERATING EARNINGS AND CASH FLOW IN FIRST QUARTER 2023

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Rumble Resources (ASX: RTR)

Announced the metallurgical results from the initial sighter program focused on the transition / fresh sulphide ores selected from the Chinook and Tonka Prospects at the Earaheedy Project, located 110km northeast of Wiluna, Western Australia. 

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Rumble Resources Earaheedy map

Rumble Resources Report Exceptional Metallurgical Results, High Zinc Recoveries and Concentrate Grades

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Rumble Resources Limited (ASX: RTR) (“Rumble” or “the Company”) is pleased to
announce the metallurgical results from the initial sighter program focused on the
transition/fresh sulphide ores selected from the Chinook and Tonka Prospects at the
Earaheedy Project (“Earaheedy” or the “Project”), located 110km northeast of Wiluna,
Western Australia.

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Highlights

• Outstanding initial flotation test work results from zinc sulphide dominant ores across
the Earaheedy Project has resulted in:
o High zinc recoveries to 90% Zn in cleaner concentrates
o Coarse primary grind size of 150 micron
o Fast flotation kinetics with clean sulphide separation using site water
o Simple and conventional processing flowsheet recovers a bulk zinc
concentrate with metal credits utilising an uncomplicated and lower
dosage reagent scheme
o Zinc concentrate grades to 59% Zn, with no significant deleterious
elements, supporting a very marketable product
• Initial metallurgical results backed by fast kinetics at coarse grind sizes support a
potential simple low Capex and Opex flowsheet for the Earaheedy Zn–Pb Project
• Recoveries and concentrate grades are at the higher end of global benchmarks
when compared to current zinc developer / producers
• Considerable potential for additional improvements through metallurgical
optimisation test work and value add beneficiation studies planned for 2023
• JORC Mineral Resource Estimate to be brought forward to the first half of 2023

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Shane Sikora, Managing Director of Rumble Resources commented:

“This is an exciting step forward for the project. The metallurgical test work carried out on the zinc sulphide dominant mineralisation has returned exceptional recoveries and grades via a simple and straightforward flotation process delivering a clean and highly marketable bulk concentrate.

 

“It compares favourably to current zinc producers and is positioned in the higher end of globally reported benchmarks.

 

“Furthermore, these recoveries have been achieved at coarse grind sizes with an uncomplicated reagent scheme supporting a simple and conventional process flowsheet that will potentially result in much lower capital and operating costs to those typically observed in many zinc operations of this scale.”

 

“Work continues on the maiden JORC compliant Mineral Resource Estimate (MRE) for the Earaheedy Project for which we are now aiming to announce in the first half of 2023.

“This maiden MRE, in combination with the excellent metallurgy, open–pittable depths, provincial scale and being located in a Tier 1 mining jurisdiction will assist to establish the Earaheedy Project as a World Class zinc deposit and future producer of this critical future–facing commodity.”

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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

=======

.

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 no shares in Rumble Resources.

.

.

Neometals Ltd (ASX: NMT)

Announced highly encouraging results with production of +90% TiO2 chloride slag from the industrial scale smelting trial of a blend of Barrambie Mixed Gravity Concentrate with other ilmenites.

Neometals’ potential offtake partner, Jiuxing Titanium Materials (Liaonging) Co. Ltd  ran the trial at their production facility in China. 

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NEOMETALS SUCCESSFUL COMMERICAL-SCALE SMELTING TRIALS FOR BARRAMBIE TITANIUM SLAG

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Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”), is pleased to announce highly encouraging results with production of +90% TiO2 chloride slag from the industrial scale smelting trial of a blend of Barrambie Mixed Gravity Concentrate (“MGC”) with other ilmenites.

Neometals’ potential offtake partner, Jiuxing Titanium Materials (Liaonging) Co. Ltd (“Jiuxing”), ran the trial at their production facility in China.

Jiuxing is one of the leading chloride-grade titanium slag producers in the world and is the largest in north-eastern China.

During H1 2022, a mixed gravity bulk sample was prepared from Barrambie mineralisation with approximately 40t delivered to Jiuxing in China. Jiuxing then blended the Barrambie MGC with other commercially available titanium sources to produce
feedstock suitable for an industrial scale smelter trial.

The +90% TiO2 titanium chloride grade slag produced  specification of what is a well-established standard titanium industry feedstock. Importantly, the smelting trial was run at a commercial industrial facility and the successful result represents the final stage of technical due diligence required for Jiuxing and Neometals to begin negotiation on a binding formal offtake agreement.

Chris Reed, Neometals Managing Director said:

“The ability to produce chloride-grade titanium slag from simple gravity concentrate from Barrambie is the key technical milestone for the next stage of project development.

 

“The results establish the potential value-in-use of MGC for negotiations with potential customers who seek quality feedstocks from low-risk jurisdictions that are amenable to simple and conventional processing pathways.

 

“Barrambie is a unique tier 1 project that offers a range of development alternatives including the possibility of direct shipping of ore, beneficiation of ore into MGC or further processing of MGC to produce separate ilmenite and vanadium rich magnetite products.”

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Mr Liu, Chairman of the Board of Jiuxing commented:

“Jiuxing confirms that blending and smelting trials on Barrambie material have been successful and achieved premium quality standard titanium slag.

 

“Jiuxing confirms that this is the final technical confirmatory step required to enable the parties to begin negotiation on pricing and final offtake arrangements.”
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Cornerstone offtake of MGC is a key pillar in Neometals’ Barrambie strategy of deriving value from the titanium, vanadium and iron mineral resource on a capital light basis with refining activities being undertaken by purchasers overseas.

The Jiuxing MoU1 contemplates a path to a formal offtake agreement where Neometals supplies a MGC or separate ilmenite and iron-vanadium concentrate from Barrambie to Jiuxing.

Specifically, the MoU outlines an evaluation regime and contains the key commercial terms for a formal offtake agreement (i.e. pricing, volumes, price floor etc.), subject to product evaluation from smelting trials.

The Jiuxing MoU contemplates the parties negotiating and entering into a binding formal offtake agreement for the supply of 800,000 dry tonnes per annum (“dtpa”) of MGC or 500,000 dtpa of ilmenite and 275,000 dtpa of iron-vanadium concentrate, on a take-or-pay basis for a period of 5 years from first production.

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HIGHLIGHTS

· Commercial-scale smelting of Barrambie mineral concentrate blended with commercial ilmenites produced premium quality chloride grade titanium slag;
· Results provide real world industry validation that saleable titanium and iron / vanadium co-products can be produced using a simple and conventional processing pathway;
· With technical due diligence completed, Neometals and potential offtake partner, Jiuxing, can commence binding offtake negotiations; and
· Completion of pre-feasibility study expected in December quarter to confirm ‘value-in-use’ for the product basket to support offtake dialogue..

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To read the full news release, please click HERE

.

=======

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 does not hold shares in Neometals.

.

Read more: http://www.city-investors-circle.com/pacgold-report-spectacular-visible-gold/#ixzz7jLM7IAdK

Lefroy Exploration (ASX: LEX)

Announced the first assay results from a four-hole diamond drill program completed at the Burns Au-Cu intrusion-related mineral system, located in the Company’s wholly owned Eastern Lefroy Gold Project, 70km southeast of Kalgoorlie. 

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Lefroy Exploration – Burns RC drilling, August 2022.

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Comment

Lefroy Exploration is an early stage greenfield gold and copper exploration company located some 40 miles south of Kalgoorlie, in Western Australia.

The project adjoins Gold Fields St Ives Gold Operation, and the 130,000oz pa Silver Lake Resources Mt Monger operations, and is strategically located near five operating gold mills.

I invested due to the proximity to other mines and mills, Lefroy is an obvious takeover target if they can prove up a commercial resource.

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Lefroy Exploration Burns Update: Assays confirm Gold, Copper, and Cobalt Intersected in hole LEFD006

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Lefroy Exploration Limited (ASX: LEX) (“Lefroy” or “the Company”) is pleased to announce the first assay results from a four-hole diamond drill program completed at the Burns Au-Cu intrusion-related mineral system, located in the Company’s wholly owned Eastern Lefroy Gold Project, 70km southeast of Kalgoorlie.

Burns is a new and unique style of intrusion-related, gold (Au)-copper (Cu)-molybdenum (Mo)-silver (Ag) mineral system, hosted by Archean age rocks in the Eastern Goldfields Province (EGP) of Western Australia.

The gold, copper, silver (and lesser molybdenum) mineralisation, which is hosted by multiple diorite-porphyry intrusives and high-magnesium basalt, is considered by the Company to be a new and unique style of gold-copper mineralisation in the Eastern Goldfields of Western Australia.

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Lefroy Exploration – native-copper-core-and-gypsum

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• Assay results from the 400m to 461m interval of the 1245m deep, diamond drill hole, LEFD006, at Burns has confirmed a new zone of gold (Au)-copper (Cu)-cobalt (Co) mineralisation, that provides further support for a polymetallic intrusion related system.
• Within this 61m interval is a new mineralised and altered diorite porphyry, situated west of the main ‘Central Porphyry’ suite at Burns, which returned results that correspond to the  stronger zones of visually identified magnetite and sulphide mineralisation, and include:
o 19.6m at 0.33g/t Au and 0.75% Cu from 428m-447.6m that includes
 3.50m at 0.86g/t Au, 0.72% Cu and 0.09% Co from 430m, and
 6.30m at 0.47g/t Au, 1.70% Cu and 223ppm Co from 433.5m
• This confirmation of previously unrecognised Au-Cu-Co mineralisation associated with
strong magnetite veining in LEFD006 is an important new development for the strongly
magnetite-altered Burns system.

• Assay results for the remainder of LEFD006 are expected in October.
• Prompted by these initial elevated Co results, the Company will select intervals from
magnetite-altered intervals from previous drill holes at Burns for Co analysis.
LEFD006 Hematite altered porphyry with chalcopyrite 0.5g/t Au and 2.3% Cu.

LEX is aiming to advance the understanding of the scale and genesis of this system through a deep diamond drilling program. Four holes, LEFD006-009, have now been completed for 2783 metres.

The original diamond drilling program at Burns comprised two holes, LEFD006-007. The diamond rig then completed an additional two holes, LEFD008 and LEFD009, at the priority Lovejoy prospect, located 1.5km north of Burns within the ‘Burns Corridor’ (LEX ASX release 20 September 2022).

Lovejoy is considered to be part of the larger Burns Intrusive Complex (BIC).

Assay results have been received from the 400m to 461m interval in hole LEFD006. Results are pending for the remainder of this hole.

Diamond Drill hole LEFD006.
The first hole of the four-hole diamond drill program, LEFD006  commenced on
12 July (refer LEX ASX release 12 July 2022) and was completed to a downhole depth of 1245.8m.

Co-funding for this hole is being provided under the Exploration Incentive Scheme (EIS) managed by the WA Department of Mines, Industry Regulation and Safety (refer LEX ASX release 29 October 2021).

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LEFD006 was designed to evaluate the Burns Au-Cu mineralised diorite-porphyry host rock to a target (vertical) depth of 1000m from surface, with key aims to:
• Test the continuity of the mineralisation discovered to date, at depth, on a vertical scale
• Test the lateral extent of the system by 250m west of the main known mineralisation
• Provide geological and geochemical information to support ongoing external research
• Support that Burns is a new, large, Archean age Au-Cu intrusion related mineral system

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The completion of LEFD006 established four broad geological domains (Figure 2), each with contrasting alteration and geology, which now demonstrate that the Burns system has a width of at least 600m, with the western limit yet to be defined (refer LEX ASX release 1 September 2022).

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The hole has also established continuity to the multiple porphyry units at depth, approximately 300m below the existing drilling on the baseline section (0N) and to 1000m vertically below surface.

The system remains open at depth and along strike.

.

For brevity, this summary has been redacted, to read the full news release, please click HERE

.

=======

.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

=======

.

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 Lefroy Exploration, bought in the market at the prevailing price on the days of purchase. 

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.