Kopore Metals Selling Botswana Copper Project

/in , /by

THE BOURSE WHISPERER: Kopore Metals (ASX: KMT), by way of its wholly owned subsidiary company, Alvis-Crest (Proprietary) Limited, is selling its Virgo project in the Republic of Botswana.

Having struck a binding term sheet to assist with ongoing exploration at the Virgo project. Kopore Metals has agreed to sell 75 per cent of the issued capital in Alvis to AIM-listed ARC Minerals.

Alvis is the holder of two prospecting licences in the Kalahari Copper Belt in Botswana within 23km of the Zone 5 mine, currently under construction by Cupric Canyon Capital LP.

These two licences, PL135/2017 and PL162/2017 comprise Kopore’s Virgo project.

The Transaction is subject to certain conditions, including ARC to issue £1.2 million in ARC shares to Kopore in consideration for the purchase of 75 per cent of the issued capital of Alvis.

ARC has an option to buy the remaining 25 per cent for US$5 million in cash or ARC shares.

Kopore is to be free carried to a Bankable Feasibility Study with no dilution and will receive a 1 per cent net smelter royalty capped at US$30 million, which ARC can buy back for US$5 million.

“We are delighted to enter into this transaction with ARC,” Kopore Metals managing director Simon Jackson said in the company’s ASX announcement.

“They have been successful in adding value for their shareholders through their interests in Zambia and we share their vision for the Virgo project.

“We anticipate that having people and infrastructure in southern Africa will allow ARC to progress exploration at the Virgo project much quicker than Kopore would have been able to do as the COVID-19 pandemic continues to affect international and regional movement of people and other assets.

“Kopore can now focus on its remaining 3,592 square kilometres of exploration licences in Botswana at its Ghanzi West project (where reprocessing of historical data is ongoing) and at the Horseshoe West Project in the Bryah Basin of Western Australia, where the company has the right to earn up to a 70 per cent interest and where heritage surveys are now planned for early April 2021.

“We are excited to have copper exploration projects in two of the world’s most sought after jurisdictions given market indications that we are in the early months of what we think could potentially be a copper super cycle.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@koporemetals.com

 

Web: www.koporemetals.com

 

 

Altech Chemicals Commences German Battery Materials PFS

/in , /by

THE BOURSE WHISPERER: Altech Chemicals (ASX: ATC) via its 75 per cent-owned German subsidiary, Altech Industries Germany, has commenced a pre-feasibility study (PFS) for construction of a battery materials high purity alumina (HPA) coating plant in Saxony, Germany.

The PFS will assume a phase 1 coating plant designed with the capacity to coat 10,000 tonnes per annum (35 tonnes per day) of anode graphite, using Altech’s alumina coating technology.

“HPA is commonly applied as a coating on the separator sheets used within a lithium-ion battery, as alumina coated separators improve battery performance, durability and overall safety,” Altech Chemicals explained in its ASX announcement.

“However, evolving demand for alumina within the anode component of the lithium-ion battery has been identified because of the potential positive impacts that alumina coated graphite and silicon particles may have on lithium-ion battery life and performance.”

The study will assume the use of 100 per cent renewable power from the local grid with some minor on-site solar generation for buildings.

The design will target green project status.

It is planned that once the PFS is completed, the project will be accessed for green accreditation by the Centre of International Climate and Environmental Research (CICERO), Norway.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@altechchemicals.com

 

Web: www.altechchemicals.com

 

Comet Resources Acquires Northern Territory Copper-Gold Portfolio

/in , /by

THE BOURSE WHISPERER: Comet Resources (ASX: CRL) has entered into a Binding Option Agreement to acquire a portfolio of highly prospective copper-gold-zinc-silver-lead assets in the Northern Territory.

Comet Resources has paid a non-refundable deposit of $50,000 to Bath Resources for a 45-day exclusive option over the portfolio that includes the Oonagalabi copper-zinc project, Paradise Well copper-gold prospect and the Silver Valley copper-gold-silver-lead prospect, which cover a combined land holding of approximately 840 square kilometres.

Oonagalabi includes best intersections from historical drilling of:
36.6 metres at 1 per cent copper and 1.7 per cent zinc from 1.5m,
5m at 1.26 per cent copper and 1.22 per cent zinc from 70m,
6m at 0.9 per cent copper from 102m, and
14m at 0.7 per cent copper from 148m

Paradise Well rock chip samples returned up to 8.9 per cent copper and 2.2 grams per tonne gold, Silver Valley rock chip samples returned 554g/t silver, 20 per cent lead, 11.9 per cent copper and 2g/t gold, providing earlier stage exploration potential.

“This portfolio combines both advanced and early stage copper, gold and base metals targets,” Comet Resources managing director Matthew O’Kane said in the company’s ASX announcement.

“Being located in Australia they complement our existing copper and base metals project at Barraba in New South Wales, and provide Comet increased exposure to copper upside, which we believe will continue to strengthen as a result of increased global infrastructure spending and the transition to clean energy.

“With our recent placement, we are funded to explore all our existing projects as well as this latest exciting acquisition.”

 

 

Email: comet@cometres.com.au

 

Web: www.cometres.com.au

 

Apollo Consolidated to Bank $20M from Gold Royalty Sale

/in , /by

THE BOURSE WHISPERER: Apollo Consolidated (ASX: AOP) is to be cashed up to the tune of $20 million having entered into a binding sale and purchase agreement with Gold Royalty Corp. for its royalty interest over the Seguela gold project located in central Cote d’Ivoire.

Apollo Consolidated’s of 100 per cent of the Seguela gold royalty monetises what is a non-core asset with the subsequent windfall to provide certainty of funding for further exploration and study work at the company’s Lake Rebecca gold project in Western Australia.

“Apollo sees an agreed sale of the Seguela royalty as an excellent result, bringing to book what was an under-recognised overseas asset and allowing us a significant financial runway to progress our +1 million ounces gold project at Lake Rebecca in Western Australia,” Apollo Consolidated managing director Nick Castleden said in the company’s ASX announcement.

“Realised funds, less any tax and transaction costs, will add to existing cash reserves ($18.7M as at 31 December 2020), placing the company in a very strong position to take Rebecca forward.”

Apollo has notified the owner of the Seguela gold project, Canadian-based goldminer Roxgold Inc., of its intention to sell the Royalty as Roxgold has a 14-day period in which it may elect to match the terms of the Agreement to buy back the Royalty itself.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@apolloconsolidated.com.au

 

Web: www.apolloconsolidated.com.au

 

Golden Mile Resources Acquires Murchison Tenement Package

/in , /by

THE BOURSE WHISPERER: Golden Mile Resources (ASX: G88) informed the market it has acquired a large tenement package in the Murchison Region of Western Australia.

Golden Mile Resources has picked up the Yarrambee project, covering what is known as the Narndee Igneous Complex (NIC), comprising tenure of approx. 816 square kilometres, making Golden Mile the largest landholder over the NIC.

The company considers the Narndee Igneous Complex to be highly prospective for nickel-copper-PGE mineralisation, citing the Voisey’s Bay, Nova, and Julimar projects as regional examples.

“This is an exciting development for the company as we expand our exploration footprint over a highly prospective base metals province in Western Australia that has seen limited historical exploration,” Golden Mile Resources managing director James Merrillees said in the company’s ASX announcement.

“Modern airborne electromagnetics is an effective tool to quickly screen large areas for significant mineral accumulations and I look forward to highlighting targets for drill testing in the coming months.

“We are also pleased to have had strong shareholder support for the capital raising which sees the Company well placed to execute its exploration strategy over the coming months.”

Golden Mile completed the strongly supported capital raising of $800,000 that will fund an aggressive exploration program at the Yarrambee project.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@goldenmileresources.com

 

Web: www.goldenmileresources.com

 

 

Lithium Australia Readies to Pilot Test Spodumene Conversion Process

/in , /by

THE BOURSE WHISPERER: Lithium Australia (ASX: LIT) is ready to push the go button to pilot test the company’s LieNA® spodumene conversion process.

Lithium Australia’s self-developed LieNA® hydrometallurgical process differs to processes used by conventional converters, in that it requires no roasting, is capable of handling very fine spodumene particles and exhibits superior impurity rejection during the lithium recovery process.

In February the company received a grant under the Australian federal government’s CRC-P (Co-operative Research Centre Projects) initiative, to support the next stage of its $3.6 million research and development program for the recovery of lithium from spodumene using LieNA®.

Much of the preparatory work has now been completed, including collection of an initial test sample recovered from drill chips and bench-scale test work to characterise the flotation conditions required for pilot-plant production of concentrates from the drill chip sample, optimise caustic conversion conditions and confirm the final autoclave design specification.

“Lithium Australia’s LieNA® technology is the pinnacle for hydrometallurgical processing of spodumene, the principal hard-rock source of lithium,” Lithium Australia managing director Adrian Griffin said in the company’s ASX announcement.

“LieNA® is capable of recovering lithium from fine and/or contaminated spodumene that fails to meet the feed specifications of current converters.

“It also provides the highest levels of impurity rejection.

“It is these characteristics that set it apart.

“LieNA®, then, is designed to improve overall recovery and achieve better utilisation of existing resources: it’s about cost reduction, sustainability and maximising the benefit of our critical (and finite) resources.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@lithium-au.com

 

Web: www.lithium-au.com

 

 

Red 5 Hits KOTH Milestones

/in , /by

THE BOURSE WHISPERER: Red 5 Limited (ASX: RED) achieved two major milestones in the development of the company’s 2.4 million ounces King of the Hills (KOTH) gold project in Western Australia.

Red 5 has had its KOTH Mining Proposal approved by the WA Department of Mines, Industry Regulation and Safety (DMIRS), being the final permit required for the restart of mining activities to proceed in 2022.

The company has also approved Phase 2 of the Engineering, Procurement & Construction (EPC) contract, allowing EPC contractor, MACA Interquip (ASX: MLD), to ramp-up the mobilisation of its construction teams.

“The KOTH construction and development teams are continuing to achieve solid progress, with the overall project under budget and on track to deliver first gold production on schedule by mid-2022,” Red 5 managing director Mark Williams said in the company’s ASX announcement.

“The manufacture and delivery to Australia of all key long-lead items for the plant is also well on track, which will help to ensure that key construction and installation milestones can be achieved once construction of the plant moves into full swing in the second half of this year.

“We are very encouraged by the important milestones being achieved, and we are looking forward to the next step-up in activities during the June 2021 Quarter as the key elements of this new large, long-life Australian gold mine continue to take shape.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@red5limited.com

 

Web: www.red5limited.com

 

AVZ Minerals Awards Manono FEED Study

/in , /by

THE BOURSE WHISPERER: AVZ Minerals (ASX: AVZ) has awarded a 12-week Front End Engineering and Design (FEED) contract in relation to the company’s Manono lithium and tin project in the Democratic Republic of Congo.

AVZ Minerals charged Melbourne based engineering company, Mincore Pty Ltd to deliver key elements of the FEED study including to:

confirm the process flow sheet,
confirm all bulk material quantities to verify pricing, confirm selected equipment pricing,
finalisation of the execution schedule, and
provide ‘Issued for Construction’ early works drawings.

Mincore has offered to accept part payment for the FEED study in AVZ shares, which AVZ considers to demonstrate a strong vote of confidence in the viability of the Manono project.

“Progressing the design of the Manono project at this time is standard practice and has the benefit of bringing the technical design parameters to finality, thereby providing potential investors and financiers with comfort on the Manono project schedule, capital and opex costs,” AVZ managing director Nigel Ferguson said in the company’s ASX announcement.

“It will also save significant time moving forward, as the results of the FEED study will be delivered to the successful company that is awarded the process plant EPC contract.

“We are committed to progressing the Manono lithium and tin project in a timely manner and the award of this study is a big step on the pathway forward.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: admin@avzminerals.com.au

 

Web: www.avzminerals.com.au

 

 

Altech Chemicals to Commence German Battery Materials Coating Plant PFS

/in , /by

THE BOURSE WHISPERER: Altech Chemicals (ASX: ATC) by way of its 75 per cent-owned German subsidiary, Altech Industries Germany GmbH (AIG), is to commence a pre-feasibility study on the construction of a battery materials high purity alumina (HPA) coating plant in Saxony, Germany.

Altech Chemicals explained this follows the company’s strategy to focus on tailoring its high purity alumina into specialised products targeted at more efficient applications within the lithium-ion battery industry.

The AIG study will assess the commercial viability of constructing a battery materials coating plant at the Schwarze Pumpe Industrial Park in Saxony, Germany.

The coating plant would use Altech’s alumina coating technology to coat anode grade materials with HPA, which would be supplied to the rapidly growing European lithium-ion battery industry.

“It is contemplated that the coating plant’s HPA feedstock requirement would eventually be satisfied from Altech’s proposed Malaysian HPA plant,” Altech Chemicals said in its ASX announcemtn.

“The pre-feasibility work is set to commence in March 2021, and will be jointly funded by the AIG shareholders – Altech 75 per cent and Altech Advanced Materials AG 25 per cent.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@altechchemicals.com

 

Web: www.altechchemicals.com

 

Encounter Resources Returns to 100% Ownership at Aileron

/in , /by

THE BOURSE WHISPERER: Encounter Resources (ASX: ENR) has regained 100 per cent control of the Aileron IOCG-style copper-gold-rare earths project d in the West Arunta region of Western Australia.

Encounter Resources reported Newcrest Mining advised of its decision to withdraw from the Aileron joint venture and will hold no residual interest.

Newcrest completed one, 158m deep diamond drill hole (EAL001) into this unexplored belt that intersected hydrothermal hematite-altered mafic intrusions and granite with a distinctive IOCG geochemical signature under shallow cover (10m).

Assays include zones of anomalism in copper (up to 0.1% copper), gold (up to 48ppb gold) and molybdenum (up to 155ppm molybdenum).

Furthermore, highly elevated rare earth elements consistent with the targeted IOCG deposit model were identified including lanthanum up to 0.2 per cent and cerium up to 0.3 per cent.

“The first drill hole into a remote and unexplored 70 kilometres long belt, intersected zones of intense hydrothermal hematite alteration with a distinctive IOCG signature in a suite of elements including copper, gold, molybdenum and highly elevated rare earth elements,” Encounter Resources managing director Will Robinson said in the company’s ASX announcement.

“This hole has demonstrated the potential for near surface IOCG deposits in the West Arunta region under shallow cover.

“We are pleased to be back in control of Aileron and will immediately commence discussions with potential partners focused on the discovery of IOCG style copper-gold deposits, with enriched rare earth elements, in Western Australia.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: contact@enrl.com.au

 

Web: www.enrl.com.au