1 week ago
6
Management says the Everleigh country formed portion of the historical Redcastle golden mining centre, which was discovered successful 1894 and is renowned for its prolific golden nugget finds. The cognition besides contains respective humanities prospecting pits, shafts and shallow workings, successful summation to galore alluvial golden workings distributed passim a wide area.
A multi-hole diamond drill run is acceptable to trial the shear of the imaginable successful the June quarter, truthful ticker this space. No, seriously… ticker this space.
Samples from Iceni Gold’s Everleigh Well imaginable successful WA’s Goldfields region.
The Federal Government is besides evidently keeping a adjacent oculus connected the resource-rich State of WA aft awarding “major task status” to Alliance Nickel’s NiWest nickel-cobalt task – besides adjacent Leonora successful the Goldfields.
The announcement this week prompted a flurry of involvement from investors, causing the company’s stock terms to leap much than 194 per cent from a erstwhile adjacent of 3.4c to interaction a highest of 10c.
Alliance says NiWest contains 1 of Australia’s highest-grade undeveloped nickel laterite mineral resources and it is targeting yearly accumulation of 90,000 tonnes of nickel sulphate and 7000 tonnes cobalt sulphate during the archetypal 15 years of operation. It is besides the archetypal nickel task successful the federation to beryllium awarded large task presumption since the lustrous metallic was added to the captious minerals database backmost successful February.
A definitive feasibility survey (DFS) for the cognition is expected earlier the extremity of the year.
Nickel has copped a spot of a hiding successful the past fewer months, acknowledgment to cheaper accumulation successful Indonesia. However, arsenic with each commodities, past says that each it takes is different rhythm for fortunes to alteration for the WA nickel industry.
Could it go the adjacent robust ore? Probably not – oregon astatine slightest not successful the abbreviated term. But arsenic a captious mineral and an important portion of electrical conveyance (EV) batteries, don’t merchantability nickel short, overmuch similar Indonesia is.
Last week, this file pointed to the joys of quarterly reporting play and the effect the important fiscal documents tin person connected a company’s economical show and the mode it is viewed by the market.
Sometimes these reports tin instrumentality a portion to work decently and pb to a belated surge connected the ASX, similar this week’s bronze medal victor OZZ Resources. Its shares jumped 111.11 per cent – that’s tons of ones – from a erstwhile adjacent of 2.7c to interaction 5.7c.
Imagine what seeing that stock terms hike would person done to the dancing feet of erstwhile English cricketer and retired planetary cricket umpire Harold “Dickie” Bird. Just Google the large antheral oregon find him connected YouTube and you volition cognize what we mean.
The leap – for the shares, not Bird – somewhat unsurprisingly received a “Please Explain” from the ASX, which successful crook prompted the institution to constituent to its March quarterly study released past Monday astatine the extremity of April.
OZZ’s effect focused connected its exploration activities successful the Goldfields – interestingly chiefly astir Leonora astatine its Mt Davis and Pinnacle Well projects, successful summation to the Vickers Well tract further northbound wherever it is connected the hunt for golden and basal metals. It pointed retired that a ungraded and stone spot sampling run was precocious completed astatine Vickers Well and it is expecting results either astatine the extremity of this period oregon aboriginal successful June.
However, the quarterly study besides highlighted a recently-completed scoping survey for its Maguires Reward golden task adjacent the municipality of Cue successful WA’s Murchison region. The survey shows the imaginable viability of mining its Old Prospect deposit wherever it presently holds a mineral assets of 312,000 tonnes astatine 2.15g/t golden for 22,000 ounces of contained gold.
The figures besides amusement imaginable affirmative currency travel from a golden terms of astir $3000 per ounce. Considering golden has again accrued successful worth contiguous to beryllium astatine much than $3570 per ounce, the economics of the cognition look highly affirmative and could further explicate the company’s latest stock terms hike.
Narrowly missing retired connected a podium decorativeness is Caprice Resources, which recorded a 100 per cent terms emergence from a erstwhile adjacent of 0.2c up to 0.4c. This week, the institution signed a binding enactment statement to prime up a 90 per cent stock successful the Bantam task successful the West Arunta portion of WA connected the borderline of the Northern Goldfields adjacent the Gibson Desert.
Bantam covers 1470 quadrate kilometres and includes 1 tenement with a granted exploration licence and different 3 with pending applications.
However, the important portion of the cognition is that its shares a 30km-long borderline with WA1 Resources’ West Arunta project. It contains the world-class Luni niobium-rare earths find that has lifted WA1 to a marketplace capitalisation of much than $1.2 billion.
Impressive drill results astatine Luni see 7m astatine a mammoth 10 per cent full uncommon world oxides (TREO) from 58m, portion caller niobium hits are arsenic precocious arsenic 3m astatine 4 per cent from 28m, 73m astatine 0.8 per cent from 57m and 7m astatine 3.6 per cent from 58m.
According to the binding Bantam deal, Caprice volition wage a non-refundable $30,000 enactment interest to HJH Nominees for the project, successful summation to a $1.03 cardinal currency outgo and 3 milestone currency payments that magnitude to $1.1 cardinal pursuing the granting of circumstantial exploration licences. HJH volition besides person a 2 per cent gross accumulation royalty connected the merchantability of immoderate minerals mined astatine the tenements.
The Luni find has sparked the involvement of respective explorers successful the West Arunta portion and Caprice is the latest to articulation the flock, with aggregate targets showing akin features to those recovered adjacent doorway astatine WA1’s tenements.
So, portion robust ore whitethorn presently stay king erstwhile it comes to royalties for the WA Government’s coffers, let’s not hide the wealthiness of different important minerals recovered successful the assets superior of Australia.
Is your ASX-listed institution doing thing interesting? Contact: mattbirney@bullsnbears.com.au
English (US)