CONFERENCE CALLER: Delegates at the Gold Coast Investment Showcase provided organisers with a reason to smile with presenting companies enjoying immediate share price gains.
Day one resources industry presenters were greeted extremely well.
Pioneer Resources (ASX: PIO) jumped after managing director David Crook informed those present of the company’s offtake agreement with Cabot Specialty Fluids Ltd, a wholly owned subsidiary of New York-listed Cabot Corporation.
Pioneer Resources struck the deal, which will result in Cabot (NYSE: CBT) buying 100 per cent of the caesium ore to be extracted from the Sinclair Zone caesium deposit – to be known as the Sinclair mine.
The Offtake Agreement includes a US$4.8 million loan facility to fund mining operations at the proposed Sinclair mine, which is part of Pioneer’s 100 per cent-owned Pioneer Dome project near Norseman in Western Australia.
The Sinclair mine will be Australia’s first ever commercial caesium ore producer.
Matsa Resources (ASX: MAT) joined the fun after managing director Paul Poli announced signing a Memorandum of Understanding (MoU) with AngloGold Ashanti Australia.
Poli lauded the benefits of the deal to the company’s gold mining and exploration activities throughout its Lake Carey gold project which includes the Fortitude, Red Dog and Red October gold mines in Western Australia.
Alto Metals (AXS: AME) MD Dermot Ryan informed of completed soil sampling that the company claims located three linear gold-in-soil anomalies along an interpreted ‘splay’ off the Edale Fault near Sandstone in Western Australia.
Ryan described the Edale Fault as a major deep crustal feature forming the eastern boundary of the Sandstone Greenstone belt, and a potential conduit for emplacement of gold-rich fluids.
The company has received assays from 28 samples out of a total of 340 samples collected near the Edale Fault that have returned anomalous results plus-7ppb gold in three discrete linear zones, each between 1,000 metres to 1,500m long.
Calidus Resources (ASX: CAI) managing director Dave Reeves announced confirmation of further high-grade results from the Coronation prospect and depth extensions below the Klondyke Resource at the company’s Warrawoona gold project, located 25kms south of Marble Bar in the East Pilbara of Western Australia.
Calidus Resources completed initial reconnaissance drilling at Coronation that has defined high-grade strike of 250 metres adjacent to the previously high-grade drilling results.
Impact Minerals (ASX: IPT) managing director Dr Mike Jones garnered some interest following his company announcing prior to the conference of intentions for work to be ramped up over the next six months at four of the company’s 100 per cent-owned gold and base metal projects across Australia.
Impact Minerals has drill programs planned for the Commonwealth gold-silver-base metal project in New South Wales, the Clermont gold project in Queensland and the Mulga Tank gold and nickel project in Western Australia.
The work will also entail the first bulk samples taken at the Blackridge conglomerate gold project in Queensland, in which Impact recently acquired an option to earn 95 per cent.
On day two, Meteoric Resources (ASX: MEI) managing director Dr Andrew Tunks provided plenty to think about in the cobalt space.
Meteoric announced completion of a closely spaced, ground based geophysics program of induced polarisation (IP), resistivity and magnetics at the company’s 100 per cent-owned Mulligan cobalt project in Canada.
Meteoric Resources had the ground based gradient IP / resistivity and magnetic survey conducted to investigate the location and extent of cobalt rich polymetallic veins that were previous mined at Mulligan.
These surveys outlined numerous target regions where very little historic work has been reported and where no modern exploration techniques had previously been applied.