Blackstone Minerals trikes Merger Deal to Acquire World Class Copper Gold Project

THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) emerged from a self-imposed ASX exile to announce a merger with IDM International Limited to result in the company acquiring the Mankayan copper-gold project in the Philippines.

Blackstone Minerals described the binding scheme implementation deed (SID) with IDM International as being a ‘merger of equals’.

The Mankayan copper-gold porphyry project is the heart of the deal. The project is located in Northern Luzon in the Philippines, a region with a pro-mining environment and a long history of successful mining operations.

The company views the project as the ideal opportunity for it to gain exposure to copper, a critical energy transition metal, while also offering substantial exposure to high-value precious metals, gold and silver during a period of record high prices.

Blackstone brings to the table its extensive expertise, resources, and relationships in base metals mine development and the energy transition metals market, making this a strategically advantageous proposition with high growth potential.

This combines with Blackstone’s current Vietnamese nickel assets to align with global decarbonisation trends, whilst offering exposure to the current high global demand growth for critical metals.

IDM has achieved substantial progress at the Mankayan copper-gold project, which is considered a key development project in the Philippines.

Recent activities have included securing renewal of a 25-year Mineral Production Sharing Agreement (MPSA) mining license in March 2022, laying the groundwork for the long term development of the project.

A further milestone was achieved in December 2024 with the signing of a Memorandum of Agreement (MoA) with the local Indigenous People (IP), marking IDM as the first mining company to secure IP consent in the region.

“This exciting merger of equals offers diversified exposure to critical energy transition and precious metals, centred on the world-class Mankayan copper-gold porphyry project, one of the largest high-grade undeveloped porphyry projects globally,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“Backed by Blackstone’s mining expertise and a supportive environment in the Philippines, the merger offers near-term exploration upside, significant resource growth potential, and regional opportunities.

“With historic high-grade intercepts, Mankayan is ideally positioned to deliver long-term value to shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Charger Metals to Move to Full Bynoe Lithium Project Ownership

THE BOURSE WHISPERER: Charger Metals (ASX: CHR) is moving to 100 per cent ownership of the Bynoe lithium project in the Northern Territory.

Charger Metals has exercised a pre-emptive right to acquire the remaining 30 per cent of the Bynoe lithium project from JV partner Livium Ltd (formerly Lithium Australia) for $500,000 cash consideration.

The company exercised its pre-emptive right after the announcement of a sale agreement between Core Lithium and Livium in Septembr whereby Core was to acquire the 30 per cent stake.

Core Lithium’s interest was highlighted this week by the release of drilling results at that company’s 100 per cent-owned Finniss lithium project.

The high-grade mineralisation encountered by Core at the project’s Blackbeard target trends northeast towards Charger’s Bynoe project and has been modelled to within 50 metres of the tenement boundary.

“We are very pleased to move to 100 per cent ownership of our Bynoe Lithium Project,” Charger Metals managing director Aidan Platel said in the company’s ASX announcement.

“Covering an area of 63 square kilometres and with more than 20 prospective lithium targets yet to be drilled tested, we believe it’s the largest underexplored area of the Finniss pegmatite field that is both inside the lithium prospective structural corridor and within 20 kilometres of Core’s spodumene beneficiation plant at Grants.

“Last quarter, Core was actively drilling directly along trend from some of our priority target areas, such as at their central Blackbeard Prospect as well as regional targets surrounding the Ah Hoy Prospect to the northeast of our Bynoe tenement.

“In particular, Core announced yesterday excellent intersections at Blackbeard.

“We are currently completing environmental studies and surveys as part of our drill permitting process, and we look forward to drilling our priority targets next dry season.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

MTM Critical Metals Recovers Gallium from Semiconductor Waste

THE BOURSE WHISPERER: MTM Critical Metals (ASX: MTM) is making advancements in the recovery of gallium from semiconductor and LED scrap via Flash Joule Heating (FJH) technology.

MTM Critical Metals had testing carried out by researchers at Rice University in the USA, resulting in a lab-scale breakthrough in resolving the critical supply chain challenges surrounding gallium — a metal that is indispensable to high-tech and defence industries.

China controls around 98 per cent of the world’s gallium supply and recently imposed export restrictions adding to supply disruptions due to escalating geopolitical tensions.

These issues have combined to cause prices to soar dramatically.

MTM considers its successful demonstration of recovery of this metal is a strategic development that offers a potential solution to the escalating supply crisis affecting the USA and its allies.

High-purity gallium was recovered by Rice University from industrial semiconductor scrap using the FJH-chlorination process.

The results have provided the impetus for MTM to proceed with prototype testing in a FJH reactor in Houston, Texas, moving closer to commercial-scale operations.

“The breakthrough in gallium recovery from e-scrap using Flash Joule Heating technology marks a pivotal advancement, with similar potential for germanium,” MTM Critical Metals CEO Michael Walshe said in the company’s ASX announcement.

“Amid limited Western gallium supply options, escalating geopolitical tensions, and recent price surges, our ability to extract this strategic metal from waste streams offers both significant commercial promise and a strategic solution for the U.S. and its allies.

“We eagerly anticipate the upcoming bench-scale tests and are optimistic about our potential to transform the gallium supply chain.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Charger Metals Confirms Lake Johnston Lithium Discovery

THE BOURSE WHISPERER: Charger Metals (ASX: CHR) fobbed off a takeover proposition from Core Lithium (ASX: CXO) by confirming a new discovery at the company’s Lake Johnston lithium project in Western Australia.

Charger Metals revealed first assays results from a current RC drill program at the Medcalf West prospect, targeting the approx. 1.2 kilometres strike of outcropping spodumene-bearing pegmatites trending from the main Medcalf mineralisation.

The company reported these first two drill-holes intersected spodumene-bearing pegmatites at the Medcalf West prospect, including:

CLMRC042
18 metres at 1.46 per cent lithium oxide (Li2O).

“We are very encouraged by the early results of our RC drilling at the Lake Johnston lithium project,” Charger Metals managing director Aidan Platel said in the company’s ASX announcement.

“The confirmation of spodumene-bearing pegmatites over a significant strike length at the Medcalf West prospect is important in the context of scale of our Lake Johnston project, particularly given the close proximity between Medcalf and Medcalf West, and we look forward to the next batch of assay results.”

The results followed an announcement a couple of days earlier that revealed Charger had received an unsolicited non-binding, conditional, indicative offer from Core Lithium (ASX: CXO) to acquire ownership of the company.

Charger responded saying the Board viewed the terms of the Core Non-Binding Indicative Offer to not fully reflect the company’s value and prospects.

“The Charger Board remains open to continuing engagement with Core should it wish to do so, with the view to pursuing the best outcome for Charger shareholders.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Pilbara Minerals Increases Lithium Exposure through acquisition of Latin Resources

THE BOURSE WHISPERER: Pilbara Minerals (ASX: PLS) made a lithium splash this week by announcing a binding Scheme Implementation Agreement to acquire 100 per cent of Latin Resources (ASX: LRS).

Pilbara Minerals will now take on Latin Resources’ Salinas lithium project in Minas Gerais, Brazil, which it considers having top 10 hard rock lithium operation potential.

In May, Latin Resources announced a material upgrade to its global Mineral Resource Estimate to 77.7 million tonnes at 1.24 per cent lithium oxide (Li2O) with greater than 85 per cent sitting in the Measured & Indicated categories.

On the other side of the coin, Latin Resources shareholders will see Salinas benefit via de-risking of funding and development through Pilbara Minerals’ proven experience in developing and operating hard rock lithium projects, such as the latter’s Tier 1 Pilgangoora operation.

“This acquisition is on-strategy, diversifying the business with what we believe is a counter-cyclical, accretive extension that further builds out Pilbara Minerals’ position as one of the leading lithium materials suppliers globally,” Pilbara Minerals managing director and CEO Dale Henderson said in the company’s ASX announcement.

“The acquisition will deliver our second 100 per cent-owned, Tier 1, hard rock lithium asset, which is expected to be low-cost and accretive for our shareholders.

“It provides Pilbara Minerals with optionality to sequence new supply and diversify into new growth markets for lithium such as Europe and North America.”

Latin Resources has been progressing a DFS for Salinas which had been anticipated to be completed by the end of the September Quarter 2024 based on a standalone development of Salinas.

Once the DFS is completed and ongoing Stage 1 fast-tracked permitting is finalised, Pilbara Minerals has the optionality to consider a final investment decision.

“I’m in no doubt that Pilbara Minerals’ expertise’ in lithium mining will be an enormous benefit not only to Latin Resources and its 100 per cent-owned Brazilian subsidiary, Belo Lithium, but to Brazil itself,” Latin Resources managing director Chris Gale said.

“Brazil’s Lithium Valley will now well and truly be on the world’s global lithium map as one of the best lithium mining jurisdictions in the world.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Novo Resources Signs Aboriginal Heritage Protection Agreement to Expand East Pilbara Exploration

THE BOURSE WHISPERER: Novo Resources (ASX: NVO) has signed a Determination Wide Aboriginal Heritage Protection Agreement with the Nyamal Aboriginal Corporation covering 1,500 square kilometres of tenure in the East Pilbara of Western Australia.

Novo Resources declared the agreement paves the way for it to commence further exploration activities at the company’s priority Bamboo and Miralga projects.

The company explained the execution of the agreement streamlines interactions between Novo and the Nyamal People while confirming Novo’s commitment to open, honest and transparent dealings with the Traditional Owners of the Pilbara Region.

The agreement with NAC allows Novo to conduct non ground disturbing surface works including mapping and surface geochemistry, specifically targeting the Bamboo and Miralga projects.

Novo has already completed a heritage site avoidance survey to facilitate drill testing of the Bamboo gold trend, including orogenic and IRG targets.

The company has now commenced surface mapping and sampling at the Miralga project, following up on porphyry style and intrusion related targets generated from historical data and reconnaissance work in 2021.

“We are pleased to have reached an agreement with the Nyamal Aboriginal Corporation and thank them for their ongoing support of Novo and our exploration endeavours on their land,” Novo Resources executive co-chairman and acting CEO Mike Spreadborough said in the company’s ASX announcement.

“The terms of this agreement attest to the strong relationship Novo has with the Nyamal People.

“Novo looks forward to advancing its exploration in the region, as we continue key activities across the priority Bamboo and Miralga projects.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Golden Mile Resources makes Arizona Copper Project Joint Venture-Acquisition

THE BOURSE WHISPERER: Golden Mile Resources (ASX: G88) announced a Joint Venture-acquisition agreement over the Pearl copper project located in Arizona, US of A.

Golden Mile Resources stuck the agreement with Outcrop Silver & Gold Corporation after completing a tour of due diligence, which it said confirmed very high prospectivity of the project area for company-making copper resources.

From its initial field reconnaissance, the company delineated multiple targets within the project area that highlighted near-term drill, and company making potential, of the Odyssey and Ford prospects.

The Odyssey prospect is a sub outcropping multiple vein copper target where surface mineralised widths up to five metres and a strike length of around 800 metres has been mapped.

This prospect historic artisanal workings at the Pearl project where historical records indicate around 60,000 of ore containing copper oxide and sulphide, lead, silver, and gold was produced from 1915 to 1941.

The Ford prospect is a circa 1940s copper-zinc development.

Historic data indicates grades up to 10.6 per cent copper, 31.3 per cent lead and 0.54 ounces (16.7g/t) gold.

There is no historic record or field evidence that either prospect has ever been drilled.

“The completion of due diligence has reinforced our belief in the Pearl copper project as a potential game-changer for the company,” Golden Mile Resources managing director Damon Dormer said in the company’s ASX announcement.

“Our initial field reconnaissance has already identified two advanced targets, which, if they were in Australia, would have been heavily drilled by now.

“The fact that both the Odyssey and Ford prospects remain undrilled, despite showing all the surface characteristics of major mineralised systems, presents Golden Mile with a fast-tracked opportunity to make a significant copper discovery.

“Located within the world-class Laramide Porphyry Copper Belt, which hosts numerous significant deposits and mines, the Pearl project’s exploration potential is substantial.

“With due diligence complete and the formal agreement in place, we are eager to commence work on this promising exploration venture.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Brightstar Resources Inks Consolidation Deals with Gateway Mining and Alto Metals

THE BOURSE WHISPERER: Brightstar Resources (ASX: BTR) has upped the Goldfields consolidation stakes with the inking of deals with two emerging gold exploration plays.

The first is a Binding Agreement signed with Gateway Mining (ASX: GML), under which Brightstar will purchase Gateway’s gold rights within the eastern tenement block of that company’s Montague project.

The deal is profitable to Gateway, which will receive consideration of $14 million, comprising $5 million in cash, $7 million in Brightstar Shares and $2 million in deferred Brightstar Shares (subject to milestones).

Gateway will retain ownership of all other mineral rights (including base metals) within the Montague East Tenement Group, allowing it to continue its base metal exploration on these tenements in line with its recent exploration focus.

Copper-nickel-PGE prospects at Montague East, including the recently targeted Flametree prospect where drilling encountered:

GRC1014
1 metre at 0.72 per cent copper, 0.41 per cent nickel, 1 gram per tonne platinum + palladium (Pt+Pd) from 195m and 1m at 1 per cent copper, 0.39 per cent nickel, 1.2g/t Pt+Pd from 209m (EOH); and

GRC283
4m at 1.03 per cent copper, 0.44 per cent nickel, 0.9g/t Pt+Pd from 137m.

“The deal is structured in a way that delivers immediate cash into our balance sheet while at the same time giving Gateway a seat at the table of an exciting potential emerging consolidation play in the Sandstone region through a significant shareholding in Brightstar,” Gateway Mining managing director Mark Cossom said in the company’s ASX announcement.

“Alex Rovira and his team at Brightstar are working hard to build a significant new gold production company with an exciting growth future, and we are pleased to have been able to participate in what we believe amounts to sensible rationalisation in the belt.”

The ink was barely dry, and Brightstar Resources didn’t get to put the lid back on its biro, with Alto Metals (ASX: AME) tabling papers for a Scheme Implementation Deed (SID) under which Alto agrees to propose a Scheme of Arrangement (Scheme) for acquisition by Brightstar of 100 per cent of Alto.

Under the Scheme, Alto shareholders will receive four (4) Brightstar shares for each Alto share held on the Record Date (Scheme Consideration) giving an implied value of approximately six cents per Alto share, representing a healthy premium of:

– Approx. 82 per cent to the closing Alto share price of 3.3 cents per share on 30 July 2024; and
– Approx. 81 per cent to Alto’s 30-day VWAP of 3.3 cents per share up to and including 30 July 2024.

“The Scheme announced today is a key step towards building a significant gold business and provides Alto shareholders with an exciting opportunity to become part of an emerging gold producer,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.

“In addition to delivering a significant premium, the Scheme, if approved and implemented, will allow Alto shareholders to retain ongoing exposure to the development of the Sandstone gold project, as part of a larger resources group holding multiple projects, which will reduce the risks associated with holding a single project.

“We believe this transaction is a great outcome for Alto shareholders and stakeholders, who will benefit from the development of the Sandstone gold project as part of an enlarged gold company with an exciting future.”

Brightstar is confident the implementation of the Alto Scheme and completion of the Gateway Montague Acquisition, the company will emerge as a junior West Australian gold explorer, developer and producer of note with a material exploration and development platform.

The upshot from the Scheme and Montague Acquisition will consolidate highly prospective exploration ground in the Sandstone region, complementing Brightstar’s existing production, development and exploration asset portfolio.

“This is a compelling transaction for all stakeholders, as the sensible consolidation of the Sandstone and Montague East Gold Projects delivers an asset base with the critical mass to be advanced towards meaningful production,” Brightstar Resources managing director Alex Rovira said.

“The Sandstone Hub has the mineral endowment and exploration upside to be a significant development opportunity in Western Australia in the coming years and presents as an asset with potential to support Brightstar’s aggressive growth ambitions to become a multi asset mid-tier WA gold producer.

“Brightstar has the team and experience to fast-track the exploration and development of the Sandstone assets in parallel with the development of the Menzies and Laverton Gold Projects, to underpin Brightstar’s ambitions of becoming a multi-asset producer in WA.”

 

TO READ THE FULL GATEWAY MINING ANNOUNCEMENT: CLICK HERE

TO READ THE FULL ALTO METALS ANNOUNCEMENT: CLICK HERE

 

PVW Resources to Acquire High Potential REE Projects in Brazil

THE BOURSE WHISPERER: PVW Resources (ASX: PVW) has entered into a binding agreement to acquire a major portfolio of highly prospective ionic clay Rare Earth Element (REE) projects in Brazil.

PVW Resources signed the agreement to acquire Brazil-registered Scanty Mineracao Ltda, aka Scanty, the holder of what the company considers being a strategically important and highly prospective portfolio of REE projects across four different areas in Brazil.

The company was assisted in the identification and selection of the portfolio of 11 projects by independent Brazilian geological consultants.

PVW believes the package presents the opportunity for new ionic clay REE discoveries in underexplored areas.

“The PVW Board see these projects as an exceptional opportunity to grow our presence in the rapidly evolving critical minerals landscape globally,” PVW Resources non-executive chairman George Bauk said in the company’s ASX announcement.

“The acquisition of strategically located rare earth element projects in Brazil allows us to gain a foothold in a highly prospective and stable region which has recently established itself at the forefront of the rare earth industry globally.

“We are delighted in the appointment of Mr Luis Azevedo as a Non-Executive Director, a major shareholder of Scanty following the completion of the transaction.

“Mr Azevedo is an experienced Brazilian mining and legal professional who began his career with WMC Resources, a company I also worked for over a decade.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Galan Lithium Provides HMW Project Update

THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) updated us all on recent progress made at the company’s 100 per cent-owned Hombre Muerto West (HMW) Phase 1 lithium brine project in Argentina.

Galan Lithium has continued its lithium inventories build in the HMW Phase 1 ponds, in line with Feasibility Study expectations, which will provide the feedstock for the HMW processing plant.

The company has now reached 40 per cent completion of the HMW Phase 1 project with the ponds system sitting at 60 per cent capacity.

The designed ponds system can allow an inventory, until H2 2025, of up to 10,000 tonnes per annum lithium carbonate equivalent (LCE) without the need for processing.

The approximate 750,000 square kilometres of evaporation area that has been built, currently holds 2,800 tonnes LCE contained inventory.

This current evaporation area is sufficient to produce a lithium chloride volume of approximately 3,000 tonnes per annum LCE.

Having slowed the pace of construction activities to save cash, Galan now expects first production from HMW to be within H2 2025.

“We are very proud of the solid progress made to date especially in light of current market conditions,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“During this time, the Board also made the prudent decision to strategically slow construction activities so as to preserve our cash.

“Our current in situ inventory of 2,800 tonnes LCE has been the first step of our production pathway.

“Our inventory will continue to increase as we have a low energy cost operation that only requires brine pumps to operate.

“As a result, once Galan finalises sales and funding arrangements, which are progressing well, the company will be in a strong position to produce a competitive low-cost lithium product.

“It should also be noted that we have received strong international market interest in our HMW lithium concentrate.

“In our view, this evidence indicates that the current lithium pricing environment and market oversupply is not expected to be a long term trend.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE