Venture Minerals Books Sea Journey for Riley Mine Iron Ore

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THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) has booked passage for the company’s first iron ore shipment from its Riley iron ore mine in Tasmania for early September.

Venture Minerals made the announcement on the back of commissioning of the Wet Screening Plant at the Riley iron ore mine having been completed with the Wet Screening Plant now fully installed and fully operational.

Due to the completion, 24-hour processing is now underway, with Venture achieving Stage One of steady state production.

Completion of commissioning of the Wet Screening Plant has also enabled continuous ore haulage from the Riley mine to the Port of Burnie where it is waiting to be loaded once the bulk carrier vessel with a capacity of 46,000 tonnes arrives.

The vessel is scheduled to be loaded over four days before departing to the discharge port as designated by the company’s off-take partner, Prosperity Steel, one of the largest iron ore traders in the world.

“Through the now completed commissioning of the plant, Venture already has a significant stockpile of iron ore ready to ship,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.

“The achievement of steady state production and consequently continuous ore haulage has enabled the company to immediately charter a bulk carrier vessel to load and deliver the first shipment.

“This marks a major milestone for Venture as it transitions from a highly successful explorer to producer.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@ventureminerals.com.au

 

Web: www.ventureminerals.com.au

 

Galan Lithium Tops Up Coffers with $50M Raising

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THE BOURSE WHISPERER: Galan Lithium (ASX: GLN) announced firm commitments to raise $50 million through a two-tranche placement to institutional, sophisticated and professional investors.

Galan Lithium said the Placement provides it with flexibility in respect to its ongoing capital expenditure requirements at Hombre Muerto West (HMW), Candelas and Greenbushes South.

Proceeds from the Placement will be applied to accelerate:

• Drilling activities at HMW to establish well fields for production and convert existing Resources to Reserves;

• Drilling activities at Candelas to convert existing Resources to Reserves;

• Ongoing exploration activities at Galan’s projects at HMW, Candelas and Greenbushes South;

• Completion of feasibility studies at HWM and Candelas; and

• General working capital.

The Placement is in two tranches.

Tranche One will raise $29.8 million and was well supported by high-quality domestic and offshore institutions.

Tranche Two, which is subject to Galan shareholder approval, will raise $20.2 million and was subscribed for by two institutional investors with a track record of successful investment in the natural resources sector.

Upon settlement of both tranches of the placement, Galan will have a cash balance of approximately $65.1 million.

“We are delighted to announce the completion of the Placement which has enabled us to introduce a number of high-quality institutions to Galan’s register,” Galan Lithium managing director Juan Pablo (JP) Vargas de la Vega said in the company’s ASX announcement.

“This represents a significant milestone in the history of the company and the recognition from these leading investors provides significant external validation for Galan’s extensive portfolio of strategic lithium projects.

“I would like to thank all new and existing shareholders for their ongoing support and look forward to accelerating the development of Galan’s projects at a particularly exciting time for the industry”.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@galanlithium.com.au

 

Web: www.galanlithium.com.au

 

 

Lithium Australia Seeks to Strengthen Battery Recycling IP Protection

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THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) revealed it has filed two International Patent Applications with the Australia Patent Office.

Lithium Australia made the submissions under the Patent Cooperation Treaty (PCT), which relate to the company’s 90 per cent-owned subsidiary company, Envirostream Australia Pty Ltd’s selective separation of metal values from recycled lithium-ion batteries and recovery of electrode materials.

The first of the PCT applications: ‘Process for recovering values from batteries’ covers a size-selective process for recovering electrode material from lithium-ion batteries, including as a mixed metal material (mixed metal dust, ‘MMD’) that comprises both cathode and anode powders.

The second: ‘Process for recovering values from process liquors’ describes processes for the selective recovery of mixed metal sulphates (such as a mixed cobalt-nickel sulphate) from a metal sulphate process liquor following leaching of mixed metal material (MMD) recovered from lithium-ion batteries.

“The Lithium Australia group is acutely aware of its environmental footprint and that of the society within which we live and operate,” Lithium Australia managing director Adrian Griffin said in the company’s ASX announcement.

“We can no longer afford to discard any products to landfill, let alone those that have a high embedded energy footprint, contain critical materials, or – in the case of lithium-ion batteries – both.

“We have developed unique processes to deal with battery waste and invite like-minded industry participants to work with us in improving the sustainability of our consumer-based society.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@lithium-au.com

 

Web: www.lithium-au.com

 

Encounter Resources to Spinout West Tanami Gold Assets

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THE BOURSE WHSIPERER: Encounter Resources (ASX: ENR) informed the market of its intention to demerge its wholly owned subsidiary, Hamelin Gold Limited.

As a result, Hamelin will hold the West Tanami gold project, on the back of which it will undertake an IPO and apply for listing on the ASX.

“With the rapid expansion of Encounter’s copper portfolio, including the major ground acquisitions in the NT and the recent farm-in agreement decision by BHP, we believe that the time is right to demerge our highly prospective West Tanami gold assets,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“Importantly, our shareholders will continue to participate in Hamelin via a pro rata in-specie distribution.

“Given the quality of the exploration opportunities within the West Tanami, Hamelin provides an attractive exposure for investors to the systematic modern exploration of this exciting and underexplored belt scale gold project.

“We also believe Hamelin will attract stronger investor attention and valuation in a standalone entity, while allowing Encounter to maintain its focus on its growing copper portfolio in the Paterson Province in WA, the Greater McArthur Superbasin in the NT and the West Arunta region of WA.”

 

 

Email: contact@enrl.com.au

 

Web: www.enrl.com.au

 

IGO Limited to Acquire Creasy Group Nickel Project

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THE BOURSE WHISPERER: Incomparable prospector Mark Creasy raised funds for his Diggers & Dealers ticket by selling IGO Limited (ASX: IGO) 100 per cent of the Silver Knight nickel-copper-cobalt sulphide deposit.

IGO informed the market it has entered into a binding agreement with entities owned and controlled by Mark Creasy to acquire the Silver Knight nickel-copper-cobalt sulphide deposit, and subsequently form a Joint Venture with Creasy Group (IGO 65%: Creasy Group 35%) over a portfolio of exploration tenements around Silver Knight, for a total cash consideration of $45 million.

Silver Knight was discovered by Creasy Group in 2015 and is located 35km north-east of and within trucking distance of IGO’s Nova Operation.

In 2018, Creasy Group estimated an open pit JORC Mineral Resource Estimate for Silver Knight which was the basis for a Mining Lease application.

IGO has a planned work program to progress infill drilling at Silver Knight once the transaction is finalised, as well as progressing regulatory approvals and a Native Title mining agreement.

IGO will continue the exploration of the new JV tenements around Silver Knight, which it considers to be prospective for the discovery of Nova-style magmatic nickel-copper-cobalt sulphide deposits.

“The Silver Knight discovery not only validated the potential for the Fraser Range to host multiple commercial nickel-copper sulphide deposits but also provides a secondary source of feed for the Nova processing plant,” IGO managing director and CEO Peter Bradford said in the company’s ASX announcement.

“Our aim is to fast track the detailed assessment and permitting of Silver Knight in order to commence first pre-mining activity on the site by 2023.”

 

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

Email: contact@igo.com.au

 

Web: www.igo.com.au

 

 

Corazon Mining to Acquire WA Nickel Project

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THE BOURSE WHISPERER: Corazon Mining (ASX: CZN) has picked up an exclusive option to acquire the Miriam nickel project in the Goldfields of Western Australia.

Corazon Mining believes the acquisition of the Miriam project will complement the company’s core asset, being the more advanced Lynn Lake nickel-copper-cobalt sulphide project in Canada.

The Miriam project is a prospective nickel exploration project hosting the Miriam nickel deposit, where historic drilling intersected high nickel tenor massive and disseminated sulphides.

Initial defining drill intercepts for the Miriam deposit included:

9.6 metres at 5.6 per cent nickel;
12.5m at 0.56 per cent nickel;
3.2m at 2.59 per cent nickel;
0.9m at 5.57 per cent nickel; and
6.1m at 0.9 per cent nickel.

The company sees the Miriam project acquisition as a strategic opportunity to expand its portfolio of nickel sulphide assets and add to its nickel inventory, in a rapidly increasing global market appetite for quality Class-1 nickel, driven by the rising demand from the rechargeable battery sector.

“The Miriam project presents an opportunity to strategically add to our nickel project portfolio and provide a new exploration asset to complement our quality nickel sulphide project at Lynn Lake in Canada,” Corazon Mining chairman Terry Streeter said in the company’s ASX announcement.

“What attracted us to Miriam is the amount of sulphide that has been identified on that trend from the historical, widely spaced exploration drilling.

“There is a lot of smoke, and we believe, that with modern high-powered geophysics, there is a good opportunity to better define nickel sulphide concentrations along strike or down-dip from the defined prospects.

“The Miriam project exhibits a high-nickel content in the nickel sulphides intersected in previous drilling.

“There are multiple channel sequences that have potential to host nickel sulphide, along with broad zones of cloud sulphide within the ultramafics drilled along strike to the north and south.

“We are currently undertaking project due diligence and once its completed, we will advise of the outcome.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@corazon.com.au

 

Web: www.corazon.com.au

 

Blackstone Minerals PFS Boosts Downstream Refinery Ambitions

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THE BOURSE WHISPERER: Blackstone Minerals (ASX: BSX) released the results of a Pre-Feasibility Study (PFS) for the development of a Downstream Refinery at the company’s Ta Khoa Refinery project in Northern Vietnam.

The PFS emphasises the competitive advantages of nickel sulphide projects and adding value via an integrated downstream processing strategy.

In doing so, the PFS demonstrates that a very low capital intensity is required for the TKR to produce Class I nickel at a scale that would make Blackstone a producer on a global scale.

The PFS considers a refinery design to process up to 400,000 tonnes per annum (Base Case) of nickel concentrate, confirming a technically and economically robust flow sheet to upgrade nickel sulphide concentrate to produce battery grade NCM811 Precursor for the lithium-ion battery industry.

“The Base Case PFS financial outcomes are compelling based on an NCM811 Precursor price forecast that is conservative compared to current observable market rates,” Blackstone Minerals managing director Scott Williamson said in the company’s ASX announcement.

“The internal rate of return on capital invested is exceptional for the Base Case, owing to very low capital intensity, a significant premium available when upgrading nickel sulphide concentrates into battery grade NCM811 Precursor and the competitive operating advantages in Vietnam, which include access to low-cost renewable hydro power.

“Blackstone is very pleased by the level of collaboration with the Vietnamese Government to progress the company’s downstream refinery.

“As part of the PFS Blackstone completed a location study to identify preferred Refinery locations, with each of the shortlisted potential Refinery locations offering significant corporate tax incentives.

“The corporate tax incentives offered are a strong signal for the Vietnamese Government support for Foreign Direct Investment and Blackstone’s downstream refinery strategy.

“The Base Case Refinery represents Management’s view of the scale of operations that could over time, through exploration success, be supported by the company’s existing nickel sulphide mineralised landholdings.

“Economics have been presented assuming a ten-year life-of-operations, aligned with known and desired life-of-mine for 3PF concentrate sources that Blackstone aims to secure offtake.

“Management considers the more likely scenario is that the Refinery life will extend beyond ten years.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackstoneminerals.com.au

 

Web: www.blackstoneminerals.com.au

 

Black Cat Syndicate Identifies Balagundi JV Base Metals Targets

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THE BOURSE WHISPERER: Black Cat Syndicate (ASX: BC8) has reached the second stage of the earn-in it has in place with Essential Metals (ASX: ESS) at the Balagundi Joint Venture, part of the Kal East gold project in Western Australia.

Recent work carried out by the JV at Balagundi has demonstrated it to be prospective for both gold and VMS style, base metal deposits.

Surface geochemical programs overlayed on structural interpretation identified new targets including:

Dingo Dam (copper-gold-zinc): a 2km long copper-gold-zinc anomaly containing historical mine shafts;

Anvil (copper-lead-zinc-gold): a discrete, approx. 1.5 kilometres long copper-lead-zinc-gold anomaly with values up to 634 ppm copper; and

Brontes and Asterope (copper): two gossans, within 500m east of Anvil.

“Balagundi has the potential to host both gold and base metal deposits and we look forward to the second stage of the farm-in with Essential Metals,” Black Cat Syndicate managing director Gareth Solly said in the company’s ASX announcement.

“Black Cat controls a pipeline of exploration projects to fortify the longevity of the Kal East Gold Project and our systematic exploration across the tenement package is only just starting to hint at that potential.

“Balagundi is a prime example of an overlooked historical high-grade goldfield and we have identified numerous excellent geochemical targets in the area; our upcoming geophysical surveys will greatly aid in both gold and base metal targeting.

“Black Cat is rapidly moving towards production while continuing to actively explore our large and underexplored land holding.”

Black Cat entered into Farm-in and JV Agreements with Essential in July 2019 to earn 75 per cent of Balagundi by spending $600,000 on the project within five years.

The earn-in period has two stages, Stage 1 sees $150,000 of expenditure spent within the first two years, while stage 2 sees a further $450,000 spent in the next three years.

Black Cat has now completed Stage 1 of the earn-in and is proceeding with Stage 2.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@blackcatsyndicate.com.au

 

Web: www.blackcatsyndicate.com.au

 

Poseidon Nickel DFS Declares Windarra Gold Project a Goer

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THE BOURSE WHISPERER: Poseidon Nickel (ASX: POS) released the outcomes from a Definitive Feasibility Study (DFS) carried out on the company’s Windarra gold tailings project located in the Eastern Goldfields region of Western Australia.

Poseidon Nickel is considering development of the Windarra gold tailings project, which comprises the Windarra Gold Tailings Mineral Resource contained within the North and South tailings dams and the Lancefield Gold Tailings Mineral Resource.

The Mineral Resource comprises 4.75 million tonnes at the Windarra North and South dams at an average grade of 0.73 grams per tonne gold and 1.21 million tonnes at Lancefield at an average grade of 1.27g/t gold, all classified as Indicated resources.

The study determined an Ore Reserve of 5.54 to 5.73 million tonnes, subject to mining method, grading 0.84g/t gold and 2.1g/t silver for approximately 150,000 ounces of contained gold and 375,000 ounces of contained silver.

The study found Windarra Gold Tailings could produce approximately 53500 to 55200 ounces gold, subject to mining method, over a 45-month period, utilising low-cost, low-risk tailings mining methods and a conventional 1.5 million tonnes per annum modular designed processing facility.

“The results from the DFS demonstrate a robust and profitable project retreating the gold tailings at Windarra and Lancefield,” Poseidon Nickel managing director and CEO Peter Harold said in the company’s ASX announcement.

“The gold tailings present a project which can generate positive cash flows to be invested into our nickel business, which is our primary focus.

“The tailings project would be ideal for a partnership style arrangement or an outright sale.

“We will be actively looking for a high-quality partner to work with to bring this project into production or a party to acquire the project so we can monetise the asset for Poseidon shareholders.”

 

 

Email: admin@poseidon-nickel.com.au

Web: www.poseidon-nickel.com.au

 

Burley Minerals Thrown to the ASX Sharks in IPO Feeding Frenzy

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THE BOURSE WHISPERER: Burley Minerals (ASX: BUR) was welcomed onto the boards of the ASX on Wednesday by a feeding frenzy that saw the 20 cent IPO list on the positive side of 37 cents.

Burley Minerals listed on the back of the Yerecoin project, which the company believes has the nickel-copper-PGE potential to become another Julimar deposit that is located just 60 kilometres to the south.

The Yerecoin project already hosts a JORC 2012 compliant Indicated and Inferred Mineral Resources totalling approx. 247 million tonnes of high-grade coarse-grained magnetite at an average grade of 30 per cent iron.

Metallurgical studies have demonstrated magnetite concentrate at 68 per cent iron concentrate grade, considered by Burley to be a potentially premium coarse-grained magnetite product with low level impurities, suitable for direct sinter plant feed.

The company is led by CEO and managing director Gary Powell, who is supported by non-executive director Jeff Brill and executive chairman Bryan Dixon.

 

Email: info@burleyminerals.com

Web: www.burleyminerals.com