THE BOURSE WHISPERER: Resources sector services company Sedgman (ASX:SDM) has scored a $12.4 million contract as Principal Contractor for a Relocatable Mineral Separation Plant (MSP) at Twin Pines Minerals New Jersey facility in the United States of America.

The contract follows on from an $18.5 million contract Sedgman announced in March 2015 for the design and supply of a Wet Concentration Plant to Twin Pines.

Sedgman will be responsible for the engineering design, procurement, fabrication and delivery of the MSP to site.

When complete the MSP facility will process heavy mineral concentrate produced by the Wet Concentration Plant.

The layout of the MSP will have provisions of further expanding the plant capacity beyond its nominal design capacity of 15 tonnes per hour.

“This latest contract is another great example of our Global Minerals strategy in action and clearly demonstrates how we build enduring relationships by providing value and technical excellence for our clients,” Sedgman chief executive officer and managing director Peter Watson said in the company’s announcement to the Australian Securities Exchange.

“We are honoured to have been chosen by TPM for this additional plant and we look forward to working with them on other opportunities in the future.”

Sedgman indicated it had commenced the detailed design process on the project and anticipates completion for May 2016.

Website: www.sedgman.com

THE BOURSE WHISPERER: Clancy Exploration (ASX: CLY) and Ramelius Resources (ASX: RMS) have entered into a farm-in agreement on the Condobolin gold and base metal project in New South Wales.

Under the terms of the agreement, Ramelius has the right to earn 80 per cent of the Condobolin project by funding $2 million for exploration over four years.

Should Ramelius withdraw before reaching the 80 per cent mark, the project ownership reverts 100 per cent to Clancy.

Clancy will be carried to a decision to mine, at which point it will have the right to contribute its 20 per cent share of costs post decision to mine, or dilute according to standard industry provisions.

If Clancy’s interest dilutes to 5 per cent, it converts to a 2 per cent Net Smelter Royalty.

Ramelius will manage the project, however during the farm-in phase, that badge will be worn by Clancy and it will be entitled to a 10 per cent management fee on services provided.

Clancy believes the deal with Ramelius will strengthen its exploration program in NSW as it will provide exploration funding to test epithermal gold and base metal targets at Condobolin.

“We are pleased to have formed this partnership with Ramelius in what is a very challenging capital market for junior exploration companies,” Clancy Exploration managing director Gordon Barnes said in the company’s announcement to the Australian Securities Exchange.

“A review of the project completed late last year identified the requirement for a funding partner and we are looking forward to working with Ramelius to advance exploration at Condobolin,”

The Condobolin project is located in the central west of NSW immediately north of the Condobolin township.

According to Clancy Exploration it has a substantial mining history, predominantly as a base metals field (lead, zinc and copper), as well as gold.

Mineralisation at the project is hosted in epithermal-style quartz veins within the metasedimentary units of the Ordovician Girilambone Group.

Clancy and Ramelius anticipate work under the farm-in agreement to commence in the June 2015 quarter.

Email: info@clancyexploration.com

Website: www.clancyexploration.com

THE BOURSE WHISPERER: Regal Resources (ASX: RER) has signed a binding conditional Joint Venture Memorandum of Agreement (JVMOA) with 100 per cent-owned subsidiaries of Ivanhoe Mines (TSX: IVN).

The JVMOA gives Regal the opportunity to acquire a 98 per cent interest in a package of tenements located near the western end of the Central African Copperbelt in the Katanga Province of the Democratic Republic of Congo.

Regal said previous exploration carried out by Ivanhoe, including geophysical data interpretation, geological mapping, geochemical sampling and auger, RC and diamond drilling, has identified a number of interesting targets, which have returned economic intersections of copper mineralisation yet have not as been subject to any detailed follow up work.

“We are very excited about having signed this agreement with Ivanhoe after a lengthy process of negotiation and documentation,” Regal Resources managing director David Young said in the company’s announcement to the Australian Securities Exchange.

“Regal considers these Permits to have excellent potential for significant economic discoveries and they further strengthen the company’s strategic position in the largest and most prolifically mineralised sediment-hosted copper province known on earth.

“It is also another demonstration of our commitment to develop the minerals potential of the region.

“Regal will also be able to benefit from the very high standard of work already completed by the Ivanhoe exploration team over parts of the JV area.

“The comprehensive technical database will allow the company to take a focused approach to exploration, following up high priority targets that have the potential to support future growth of the company while continuing to rapidly advance the company’s flagship Kalongwe project towards mine development.

“Exploration costs should be reduced as Regal is already well established in the region and working with a team of geologists with excellent local knowledge of both the terrain and the geology.”

Key Terms of the Agreement between Regal and Ivanhoe are:

Regal will be required to pay an Initial Signing Fee of US$100,000;

Regal will be required to pay a non-refundable Subsequent Signing Fee of US$150,000, no later than the first anniversary of the signing of this agreement;

Regal can earn 80 per cent by expending US$3 million expenditure by no later than 3 (three) years after the Effective Date (First Earn-In); and

Regal can earn 90 per cent by expending US$3 million expenditure by no later than 2 (two) years after the First Earn-In (Second Earn-In).

By expending the Earn-In amounts referred to above, Regal will have the option to acquire a further eight per cent at an agreed price.

Website: www.regalresources.com.au

THE BOURSE WHISPERER: IMX Resources (ASX: IXR) has reported the results of a high-level study into the feasibility of various development options for the company’s Chilalo graphite project in south-eastern Tanzania.

The study was carried out by Perth-based processing engineering consultancy group BatteryLimits, which reached the conclusion that Chilalo possesses criteria to become a successful graphite operation, including:

A high-grade mineral resource (Inferred Resource of 7.4 million tonnes at 10.7 per cent total graphitic carbon (TGC) for 792,000 tonnes of contained graphite for the Shimba deposit);

Excellent metallurgical characteristics, with initial testwork results showing a large proportion of high-value large and jumbo flake material and the capacity to produce a high quality concentrate from basic flotation;

Access to important existing infrastructure, including: commercial deep water port of Mtwara, located 220 kilometres from Chilalo, via a sealed and hard dirt road; IMX’s Ntaka Hill camp, with offices, messing, accommodation, core storage, telecommunications and a sample prep laboratory; water supply at site; regional power grid to be extended to project area during 2016; and

Good relationships with local communities and an established presence in the region through many years of exploration work conducted at the company’s Nachingwea property.

“The high-level study confirms that the Chilalo graphite project presents a near-term development opportunity and supports our decision to commence a pre-feasibility study focused on a smaller scale operation in the order of 25,000 to 50,000 tonnes per annum of graphite concentrate,” IMX CEO Phil Hoskins said in the company’s announcement to the Australian Securities Exchange.

“The positive study outcome, coupled with the recent MoU with China-Base Ningbo, has laid the foundations for a successful graphite project at Chilalo.

“With the funding now flowing from the Fig Tree JV plus the recently concluded capital raising, we are in a strong position to rapidly advance Chilalo.”

Email: info@imxres.com.au

Website: www.imxresources.com.au

THE BOURSE WHISPERER: Kibaran Resources (ASX: KNL) showed that money talks when projects walk the walk with the announcement it has received firm commitments to raise $4.1million through an equity placement.

In addition, a Share Purchase Plan is to be offered to all eligible shareholders on the same terms as the Placement to raise $1 million.

The heavily oversubscribed Placement, lead managed by Argonaut, is being made to existing and new sophisticated and institutional shareholders.

The Placement consists of 24.4 million new shares to be issued at a price of 17 cents per share to raise total funds of just under $4.15 million.

Kibaran indicated the funds raised from the offer and SPP will assist the company in the continued development of its 100 per cent-owned Epanko graphite project.

The funds will be put towards the completion of a bankable feasibility study, which is currently underway at Epanko, the ordering of long lead items and provide working capital through to a decision to mine.

“This very pleasing result of the Placement will enable Kibaran to rapidly progress its flagship Epanko graphite project,” Kibaran Resources executive director Andrew Spinks said in the company’s announcement to the Australian Securities Exchange.

“The exceptional demand for participation in the Placement highlights that investor interest remains strong for quality graphite companies and is recognition of Kibaran’s advanced technical progress, binding off-take agreement and the exceptional investment value the company represents.

“Whilst we are pleased with new institutional and sophisticated investor support, the SPP gives all existing shareholders the opportunity to take up further shares at the same price as the Placement and we look forward to their ongoing support.”