THE CONFERENCE CALLER: Australian Gold & Copper (ASX: AGC) managing director Glen Diemar talks up the company’s Cobar silver aspirations with Wally Graham at the 2025 RIU Explorers Conference.
THE CONFERENCE CALLER: Lincoln Minerals (ASX: LML) CEO Jonathon Trewartha explains how a non-sanctioned drilling extension benefited the company while speaking with Wally Graham at the 2025 RIU Explorers Conference in Fremantle.
THE CONFERENCE CALLER: Petratherm (ASX: PTR) exploration manager Barry van der Stelt provides Wally Graham an insight to the company’s Comet critical metals project at the 2025 RIU Explorers Conference in Fremantle.
THE DRILL SERGEANT: Hammer Metals (ASX: HMX) provided a spark to the final morning of the RIU Explorers Conference by reporting drilling results from the company’s Lady Jenny Mining Lease in the Mt Isa region Queensland.
Hammer Metals had conducted an eleven-hole Reverse Circulation (RC) drilling program through November and December 2024 at the Lady Jenny Mining Lease with all holes intersecting copper and gold mineralisation under the historical pit, confirming a strike extent of approx. 180 metres.
Highlights from these first intercepts included:
HMLJRC005
32 metres at 1.05 per cent copper and 0.22 grams per tonne gold from 14m – estimated true width of approx. 25m, including 20m at 1.35 per cent copper and 0.3g/t gold from 16m;
HMLJRC008
26m at 0.67 per cent copper and 0.34g/t gold from 37m – estimated true width of approx. 21m, including 1m at 9.08 per cent copper and 4.4g/t gold from 42m;
HMLJRC003
15m at 1.10 per cent copper and 0.11g/t gold from 11m – estimated true width at 10m and 15m at 0.88 per cent copper; and
HMLJRC004
0.12 g/t gold from 36m – estimated true width of approx. 8m, including 6m at 1.76 per cent copper and 0.23g/t gold from 36m.
“Hammer’s program has successfully confirmed the extent of the presence of copper sulphides beneath the historical oxide workings at Lady Jenny,” Hammer Metals managing director Daniel Thomas said in the company’s ASX announcement.
“Several other exploration targets at the property are emerging and the team will assess geophysical methods to aid targeting for future drilling programs.
“The team’s attention now turns to our Bullrush IOCG drilling program, which we expect to commence next week.
“This diamond drilling program is targeting a classical magnetic and gravity anomaly masked by approximately 100m of cover.
“It is shaping up to be a busy start for 2025, with drilling programs also scheduled for Hammer’s 100 per cent-owned project areas.
“We’re looking forward to the end of the wet season to allow us to finally test Tourist Zone South plus an exciting new VTEM target at Revenue near Mt Hope.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: Emmerson Resources (ASX: EMR) provided some interest for punters at the2025 RIU Explorers Conference by announcing drilling results from 2024 drilling undertaken at the company’s White Devil gold project near Tennant Creek.
Emmerson Resources reported extensional RC drilling results that encountered high-grade zones of gold mineralisation, including:
WDERM030
33m at 5.1 grams per tonne gold from 189m, including 10m at 11.2g/t gold and 9m at 4.5g/t gold from 64m;
WDERM004
11m at 6.2g/t gold from 8m, including 1m at 55.7g/t gold; and
WDERM010
9m at 4.8g/t gold from 29m.
Emmerson said the drilling extended the known White Devil mineralisation 320m to the east and to surface above the historical high-grade mineralisation as well as confirming mineralisation extends into the shallow unreported portion of the current Mineral Resource Estimate.
“It is very pleasing to announce that the results from the first 31 RC drill holes completed at White Devil in December have exceeded expectations,” Emmerson Resources managing director Mike Dunbar said in the company’s ASX announcement.
“Multiple high-grade and wide zones of mineralisation were intersected including 33m at 5.1g/t gold, 11m at 6.2 g/t gold, 11m at 5.1g/t gold and multiple six to 10 metre wide high-grade gold zones ranging from 12.8g/t to 3.8g/t gold which is a great result.
“This bodes well for the upcoming Mineral Resource Estimate (MRE) that will be completed once we have received results from the last 9 RC holes drilled in January.
“The MRE update is expected to be completed in late March and will form the basis for the Scoping Study that will determine the status of the White Devil deposit according to the terms of the JV.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE CONFERENCE CALLER: Ramelius Resources (ASX: RMS) provided a bookmakers’ surprise when the company was announced as winner of the Craig Oliver Award at the 2025 RIU Explorers Conference in Fremantle.
The win followed a successful 2024 for Ramelius Resources, during which the company delivered an impressive financial performance, noteworthy operational success, and a forward-looking strategy taking the company into what it considers a very bright future.
The company’s objective is to maintain the momentum set during the December 2024 quarter that resulted in record breaking underlying free cash flow, realising $161.1 million for the quarter for total 2024 calendar year generation of $229.5 million.
The love continued over at the company’s Edna May hub where underlying free cash flow realised $32.5 million for the quarter for a calendar year result of $75.3 million with stockpiles continuing to perform above expectations.
Ramelius also completed a In Pre-Feasibility Study (PFS) for its Rebecca-Roe project that demonstrated robust project economics, with a low capital intensity and attractive cash flow forecasts, positioning the project as a valuable asset in Ramelius’ development pipeline.
A final Investment Decision for Rebecca-Roe is expected in the September 2025 Quarter.
Jaxon Crabb and Stewart McDonald of RIU/Vertical Events watch on as Hanna Oliver presents Mark Zeptner of Ramelius Resources with the 2025 Craig Oliver Award
Accepting the award from Craig Oliver’s daughter Hanna Oliver, Ramelius Resources managing director Mark Zeptner said, “It’s actually a very pleasant surprise receiving this award today honouring the legacy of Craig Oliver.
“I note that it is an all-rounder award and I would like to feel that we fit that criteria very well.
“We are a cash flow generating producer, we have been a successful acquirer and, in my mind, an underrated explorer.
“We don’t do this for awards, but I think it is deserved recognition of the broader Ramelius team over a lot of years.”
Zeptner did well to acknowledge the award’s ‘all-rounder’ criteria.
Judges for the award noted the company had consistently demonstrated its ability to deliver shareholder value through a strong financial position and robust cash flow generation.
With a healthy balance sheet and a disciplined approach to capital management, the company reported a 40 per cent increase in year-on-year revenue to $882.6 million and $462.2 million underlying EBITDA for FY24 that outpaced many of its peers in the gold mining sector.
The company also greatly reduced its debt and positioned itself for long-term growth via its 10-year mine plan at Mt Magnet and exploration opportunities.
Ramelius has a market cap of $3.01 billion and cash and gold of $501.7 million as at 31 December 2024.
RIU Explorers Conference managing director Stewart McDonald said Ramelius Resources was a deserved winner of the 2025 Craig Oliver Award.
“While all three nominees have notched up significant achievements throughout 2024, Ramelius was the one that really stood out in terms of its exceptional gold production success, strong financial position and significant future growth prospects,” McDonald said.
“I congratulate Mark and the Ramelius team with this prestigious win.”
Other companies nominated this year for the 2025 Craig Oliver Award were:
BCI Minerals (ASX: BCI) an Australian-based mineral resources company which is progressing its 100 per cent-owned Mardie salt and potash project, located on the Pilbara coast in the centre of Western Australia.
Spartan Resources (ASX: SPR) an ASX-listed gold company that is pursuing a focused high-grade
gold exploration and development strategy centred on its 100 per cent-owned Dalgaranga gold project also in WA.
THE CONFERENCE CALLER: The RIU Explorers Conference kicking off in Fremantle next week will have a bit of everything for everyone ranging from positive drilling results to on-market takeover bids. We can’t wait.
Patronus Resources’ Makes Matsa Resources Takeover Bid Just in Time for RIU Explorers
THE CONFERENCE CALLER: A takeover bid by Patronus Resources (ASX: PTN) for Matsa Resources (ASX: MAT) provides next week’s RIU Explorers Conference a bit of colour.
Carnaby Resources Drills Further Encouragement at Greater Duchess
THE DRILL SERGEANT: Carnaby Resources (ASX: CNB) released results from a recent busy round of drilling completed at the company’s Greater Duchess copper gold project in Mt Isa, Queensland.
Black Cat Syndicate Resumes Paulsens Underground Drilling
THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) is conducting underground drilling at the company’s Paulsens gold operation in Western Australia.
Critica Declares Jupiter Maiden Resource as Australia’s Largest Clay Hosted REE Resource
THE DRILL SERGEANT: Critica (ASX: CRI) released, what the company claims as being, the “largest and highest-grade clay hosted rare earth resource”, in Australia.
Hot Chili Confirms LaVerde Copper-Gold Porphyry Discovery
THE DRILL SERGEANT: Hot Chili (ASX: HCH) declared confirmation of a copper-gold porphyry discovery at the La Verde copper-gold discovery near the company’s Costa Fuego copper-gold project in Chile.
Matsa Resources Encounters High-Grade Gold Intercept at Fortitude North
THE DRILL SERGEANT: Matsa Resources (ASX: MAT) rebuked a take over offer from Patronus Resources (ASX: PTN) while announcing a high-grade gold intercept at the company’s Lake Carey gold project in Western Australia.
Mt Malcolm Mines Producing Gold Sales from Golden Crown Bulk Sampling
THE DRILL SERGEANT: Mt Malcolm Mines (ASX: M2M) continues to produce gold recoveries of note from the company’s Golden Crown prospect in Western Australia.
Red Metal Confirms REO Continuity via Infill Drilling at Sybella Discovery
THE DRILL SERGEANT: Red Metal (ASX: RDM) has drilled confirmation that of wide zones of rare earth oxide mineralisation continue at the company’s Sybella rare earth discovery near Mt Isa.
THE CONFERENCE CALLER: A takeover bid by Patronus Resources (ASX: PTN) for Matsa Resources (ASX: MAT) provides next week’s RIU Explorers Conference a bit of colour.
The week could, of course, run its usual course with companies espousing their investment opportunities, but a bit of subterfuge between chums never goes astray.
Earlier this week Patronus Resources announced an on-market takeover offer for Matsa Resources where the former declared its intentions to acquire all of the shares of the latter it doesn’t already own.
It’s not as if Patronus is going in blind, after all it and its associates combine to currently hold the largest shareholding interest in Matsa, with an interest of 19.57 per cent of that entities fully paid ordinary shares.
The announcement did everybody a favour taking Matsa’s share price from four cents on 6 February 2025 to a nice little earner of 5.2 cents at the time of writing, a much-improved price compared to the 4.5 cents offered by Patronus.
Patronus told Matsa shareholders its offer would give them an “attractive, certain and immediate value,” for their holding. It would certainly appear so given the boost its intentions ignited.
Patronus continued its spiel, saying the offer was made, “with the intention of increasing its ownership in Matsa and will seek to potentially restructure the existing Matsa Board / management and conduct a strategic review of Matsa’s asset base”.
The company went on to say it was “supportive of Matsa securing additional equity funding to repay Matsa’s existing indebtedness in order to concurrently remove the security claims provided to these existing secured debt providers”.
Unsurprisingly Matsa Resources responded by telling shareholders to bide their time in an announcement telling them, “The Directors of Matsa are carefully considering the unsolicited Offer and intend to provide their recommendation to shareholders via the release of a target statement in the coming weeks”.
“In the interim, shareholders are advised to TAKE NO ACTION at this stage in relation to the Offer or any documents shareholders may receive from Patronus.
“There will be sufficient time after the release of Matsa’s target statement for shareholders to consider the Offer.”
The Roadhouse will, of course, be attending the RIU Explorers Conference next week and will be making all efforts to get the thoughts from both companies on any developments that may arise in the meantime.
THE DRILL SERGEANT: Carnaby Resources (ASX: CNB) released results from a recent busy round of drilling completed at the company’s Greater Duchess copper gold project in Mt Isa, Queensland.
Carnaby Resources carried out drilling across a number of prospects within the Greater Duchess project, all of which returned encouraging results.
From the Mt Hope deposit (MRE 10.3 million tonnes at 1.7 per cent copper equivalent (CuEq) for 173,000 tonnes CuEq), assay results from geotechnical and resource delineation drilling undertaken as part of the Greater Duchess Pre-Feasibility Study confirmed substantial widths and grades of copper mineralisation.
Drilling at the Lady Fanny prospect intersected a broad zone of mineralisation, increasing the overall true width of the Lady Fanny Main Lode to 35 metres.
Ten resource delineation and extension RC drill holes undertaken at the Burke & Wills prospect all intersected mineralisation confirming the consistency of lode geometry in the upper portion of the deposit.
Six RC holes were carried out at the Nil Desperandum prospect to infill gaps in the drill coverage in the upper levels of the optimised pit. The drilling confirmed the lode geometry, widths and grades seen in previous drilling.
“The Greater Duchess project continues to advance and grow through drilling as part of the Pre-Feasibility Study and ongoing exploration,” Carnaby Resources managing director Rob Watkins said in the company’s ASX announcement.
“The results announced today continue to demonstrate the enormous upside for future mineral resource growth through extensions and new exploration discoveries in the region.
“The PFS remains on track with Carnaby’s maiden drilling at the new Trekelano acquisition about to commence.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE DRILL SERGEANT: Black Cat Syndicate (ASX: BC8) is conducting underground drilling at the company’s Paulsens gold operation in Western Australia.
Black Cat Syndicate has mobiles an underground drill rig to site with the aim of testing priority discovery targets underground, gabbro veining and the hangingwall zone.
Grade control drilling at the priority targets is being carried out to support current mining activities.
Extensional drilling is expected to grow the current Resource and will include drilling at the Galileo and Mir targets that sit within a NW-striking structural zone in the hangingwall zone.
“After an exciting end to 2024 with our first gold pour at Paulsens, we move on to the next phase of growth with underground drilling having now commenced,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.
“With a multitude of targets underground at Paulsens, we expect the drill rig to turn for the foreseeable future as we define and grow our Resource and mine life at Paulsens.”
TO READ THE FULL ANNOUNCEMNT: CLICK HERE
