Astral Resources updates MRE for Spargoville Gold Project in Western Australia
Astral Resources has announced an updated mineral resource estimate (MRE) for its Spargoville Gold Project in Western Australia (WA), now reporting 139,000oz of contained gold.
This update is part of a series of acquisitions, including the Spargoville, Mandilla and Feysville gold projects near Kambalda, that have expanded Astral's gold resources to a consolidated 1.76 million ounces (moz).
The Spargoville Gold Project, located 70km south of Kalgoorlie, has been integrated into Astral's portfolio following the company's takeover of Maximus Resources.
Located in the Coolgardie Domain of the Kalgoorlie Terrane, the Spargoville Gold Project is positioned strategically near the St Ives gold camp.
The project's MRE has been recalculated using the financial assumptions from its recent Mandilla update, resulting in a revised estimate of three million tonnes (mt) at 1.4 grams per tonne (g/t) gold.
Independent consultancy Widenbar and Associates prepared the updated MRE in accordance with the JORC Code (2012 Edition).
The estimate includes the Wattle Dam Gold Project, Eagles Nest, Hilditch, Larkinville and 5B deposits.
Astral plans to commence drilling in the area surrounding the Hestia deposit at Mandilla this quarter, with a more extensive drilling programme set for the September quarter of 2025.
The revised figures are based on a lower cut-off grade of 0.39g/t gold, constrained within pit shells determined by a gold price of A$3,500 ($2,265)/oz.
Additionally, the updated MRE reflects the same cost assumptions that will be used in an upcoming Mandilla pre-feasibility study (PFS).
The acquisitions have, together, significantly bolstered Astral's Group MRE to 50mt.
Astral Resources managing director Marc Ducler said: 'With compulsory acquisition of the outstanding shares in Maximus having now been completed, we considered that it was important to set our own baseline for the recently acquired Mineral Resources at the Spargoville Gold Project.
'Astral's standard approach when testing the Mineral Resources for reasonable prospects for economic extraction (RPEE) includes a first step of regularising the block model, which is the process of varying the size of the block model shapes to approximate the size of the earth-moving machinery likely to be used in open-pit mining.
'This serves to more accurately reflect the amount of dilution likely to be experienced during open-pit mining and provides a good base for the subsequent optimisations used to identify the potentially economic portion of the mineralisation models.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 hours ago
- Yahoo
Enghouse Systems Ltd (EGHSF) Q2 2025 Earnings Call Highlights: Navigating Economic Challenges ...
Revenue: $124.8 million for the quarter, a decline of 0.8% year over year; $248.8 million year-to-date, an increase of 1%. Recurring Revenue: $86.2 million, representing 69.1% of total revenue, up from 67.5% last year. Adjusted EBITDA: $28.6 million with a margin of 22.9%, compared to $35.7 million and a 28.4% margin in Q2 2024. Net Income: $13.5 million or $0.24 per diluted share, compared to $20 million or $0.36 per diluted share last year. Net Cash Provided by Operating Activities: $25.5 million, excluding changes in working capital and income taxes paid. Cash and Cash Equivalents: $263.5 million, with no external debt. Dividends: $14.3 million returned to shareholders. Acquisitions: $26.8 million invested, including Margento and Trafi acquisitions. Quarterly Dividend: $0.30 per common share, payable on August 29, 2025. Warning! GuruFocus has detected 3 Warning Signs with EGHSF. Release Date: June 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Enghouse Systems Ltd (EGHSF) reported a year-to-date revenue increase of 1% to $248.8 million, indicating growth despite a challenging economic environment. Recurring revenue, including SaaS and maintenance services, increased to $86.2 million, representing 69.1% of total revenue, up from 67.5% last year, highlighting a strategic focus on predictable long-term revenue streams. The company maintains a strong balance sheet with $263.5 million in cash, cash equivalents, and short-term investments, and operates with no external debt, providing financial flexibility. Enghouse Systems Ltd (EGHSF) returned $14.3 million to shareholders through dividends and invested $26.8 million in acquisitions, demonstrating a commitment to shareholder value and growth. The acquisition and integration of Margento and Trafi enhance the company's transportation portfolio, aligning with its broader mobility strategy and supporting long-term growth. Revenue for the quarter declined by 0.8% year over year, reflecting challenges in the current economic climate. Adjusted EBITDA decreased to $28.6 million with a margin of 22.9%, down from $35.7 million and a 28.4% margin in Q2 2024, indicating pressure on profitability. Net income for the quarter fell to $13.5 million or $0.24 per diluted share, compared to $20 million or $0.36 per diluted share last year, due to increased operating costs and special charges. Foreign exchange volatility negatively impacted both revenue and expenses, contributing to financial uncertainty. The transition from 4G to 5G is progressing slower than expected, and AI monetization remains challenging, affecting growth in certain business segments. Q: Steve, can you discuss which parts of the business are most affected by the current demand environment? A: Stephen Sadler, CEO: The transition from 4G to 5G is slower than expected, impacting telecom companies. In the IMG Group, networks and contact centers are on hold, with AI discussions not yet monetizing. Transportation is improving, with major contracts nearing completion, which should enhance profitability. Q: Can you elaborate on the factors affecting profitability outside of the transportation division? A: Stephen Sadler, CEO: Revenue decline and restructuring in January affected profitability. We are addressing cost reductions, which should be resolved by next quarter. Q: Has the revenue from Lifesize stabilized, or is there still churn? A: Stephen Sadler, CEO: There is still some churn in Lifesize and video areas, but it is decreasing and looking better for the future. Q: How does the pipeline for SaaS look, and what are customer sentiments? A: Stephen Sadler, CEO: The environment is challenging for new wins, with AI integration being a key factor. Customers are cautious but hopeful for productivity improvements. We are preparing for future opportunities. Q: What are your thoughts on share buybacks versus M&A for capital allocation? A: Stephen Sadler, CEO: M&A expands the company, while buybacks are less risky if priced right. We will consider buybacks if they provide a good return, but M&A remains a priority. Q: How did foreign exchange (FX) impact revenue and EBITDA, and how did it compare to expectations? A: Stephen Sadler, CEO: FX had a complex impact, with a $4 million write-off on the balance sheet due to US dollar fluctuations. FX helped revenue but also increased costs, slightly affecting profitability and EBITDA percentage. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
2 days ago
- TechCrunch
Startups Weekly: It's buying season
Welcome to Startups Weekly — your weekly recap of everything you can't miss from the world of startups. Want it in your inbox every Friday? Sign up here. From acquiring stealth startups to larger ones, and from funding Series A to Series G rounds, buyers and investors made for a busy news cycle. Most interesting startup stories from the week Image Credits:Paco Freire/SOPA Images/LightRocket via Getty Images This week must have seemed like the perfect time for companies to announce their latest startup acquisitions. Unlocked: Israeli phone unlocking firm Cellebrite acquired mobile testing startup Corellium for $170 million in cash, with $20 million converted to equity at closing. Sought and found: IBM acquired Seek AI, an AI platform that lets users ask questions about enterprise data using natural language. Its technology is set to become a key part of Watsonx AI Labs, IBM's new NYC-based AI accelerator. Data access: Data governance platform Collibra acquired Raito, a startup that had raised $4 million to date to help companies manage which employees and customers have access to internal data. Both Collibra and Raito are based in Brussels. Challenger: AMD acquired Brium, a stealth startup focusing on AI software optimization, in a deal that appears intended to challenge Nvidia's AI hardware dominance. Techcrunch event Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Save $200+ on your TechCrunch All Stage pass Build smarter. Scale faster. Connect deeper. Join visionaries from Precursor Ventures, NEA, Index Ventures, Underscore VC, and beyond for a day packed with strategies, workshops, and meaningful connections. Boston, MA | REGISTER NOW Crunchy: Snowflake disclosed it plans to buy Crunchy Data, a startup that helps companies build with Postgres. The cloud data platform company declined to comment on the deal's valuation, but a source estimated it at around $250 million. No more pesto: Data-labeling startup Scale AI hired the team behind Pesto AI, which is shutting down after raising more than $8 million to help companies recruit developers remotely. Hmm: Airtime, the video startup from Evernote's founder Phil Libin, laid off dozens of employees, who won't be invited to stay for the next 'season.' The company, formerly known as mmhmm, raised nearly $135 million in venture funding across multiple early-stage rounds. Ouch: Indian grocery startup KiranaPro confirmed that it was hacked last May. All of its data was wiped in the attack. The legal battle continues: HR tech startup Deel accused rival Rippling of hiring an employee who spent six months impersonating a customer, but Rippling also issued an amended complaint regarding its corporate spying accusations against Deel. Most interesting VC and funding news this week Image Credits:Kyle Grillot/Bloomberg / Getty Images Money once again flew uphill this week, but some funding also went to startups that hope to challenge market leaders, expand internationally, and make roads safer. Lucky Luckey: Defense tech startup Anduril raised a gigantic $2.5 billion Series G round, including a $1 billion investment from Founders Fund, doubling the company's valuation to $30.5 billion in the process. Moving the cursor: Anysphere, the maker of AI coding assistant Cursor, has raised $900 million at a $9.9 billion valuation. Sources said the company has surpassed $500 million in annual recurring revenue. Brain chips: Neuralink, Elon Musk's brain computer interface startup, secured a $650 million Series E, reportedly at a pre-money valuation around $9 billion. Insured: Bolttech, a Singapore-based insurtech company specializing in embedded insurance, completed a $147 million Series C at a $2.1 billion valuation. APUs vs. GPUs: Speedata, an Israeli chip startup competing with Nvidia, raised a $44 million Series B. The company is developing an analytics processing unit (APU) to accelerate AI and data workloads, which it will showcase later this month. From Ireland to Japan: Irish fintech startup Nomupay locked in a $40 million Series C from SB Payment Service (SBPS), a subsidiary of Japanese telco giant SoftBank Corp. It will use the capital on expanding its reach in key regions, including Asia, as well as on acquisitions. Drive with care: Obvio, a startup using AI and cameras installed on stop signs to detect unsafe driving, raised a $22 million Series A led by Bain Capital Ventures. Richest slice: Between February and May of this year, North American AI startups attracted $69.7 billion in venture capital across 1,528 deals, far exceeding Europe's $6.4 billion (742 deals) and Asia's $3 billion (515 deals), according to PitchBook data. Last but not least Image Credits:Slava Blazer for TechCrunch / Elad Gil began investing in AI startups like Perplexity and Harvey well before most VCs recognized the trend. Now he's placing bets on traditional businesses that AI can help reinvent and make more lucrative.
Yahoo
3 days ago
- Yahoo
Bell Media Launches Innovative Advertising Pilot with Autonomous City Delivery Program in Toronto
– Astral becomes the exclusive sales agent of unique advertising opportunities on Magna's autonomous delivery vehicles –– Magna's City Delivery pilot program to be powered with Environics Analytics' MobileScapes, Canada's most comprehensive mobile movement database – Key Tags: @BellMediaPR, @TheLede_CA TORONTO, June 5, 2025 /CNW/ - Bell Media announced today that it is collaborating with Magna, a global leader in mobility technology, on innovative out-of-home (OOH) advertising opportunities. Astral, a division of Bell Media and Canada's leading out-of-home advertising solutions provider, will offer exclusive advertising placements on vehicles used in Magna's recently launched City Delivery pilot program in Toronto. This unique offering gives advertisers access to a dynamic and highly visible emerging goods delivery platform. It creates fresh opportunities for brands to engage with audiences in core areas across the city in an innovative and memorable way. "Bell Media and Astral provides its clients with innovative ways to connect brands with consumers," said Kevin Cluett, SVP of Distribution, Out of Home, Direct to Consumer, and Product Platforms, Bell Media. "Our collaboration with Magna exemplifies our dedication to embracing new technologies and providing clients with cutting-edge opportunities. The autonomous delivery vehicles present a unique canvas for creativity, allowing us to offer one-of-a-kind advertising experiences in Canada." In addition to the advertising component of the partnership with Astral, the City Delivery program leverages a data partnership with Environics Analytics, a Bell Canada company. Magna's electric autonomous delivery vehicles will be optimally routed on city streets in part by using Environics Analytics' MobileScapes, Canada's most comprehensive anonymized mobile movement database. Magna's City Delivery pilot program is a test of small, autonomous delivery vehicles operating at low speeds on public roads in designated areas of Toronto under the Province of Ontario's Automated Vehicle Pilot Program. Magna's program is designed to help reduce delivery costs, increase road safety and reduce CO2 emissions. This collaboration underscores Bell Media's dedication to providing advertisers with the most effective and engaging advertising solutions and furthers its involvement in emerging technology. SOCIAL MEDIA LINKS X:@BellMediaPR@TheLede_CA LinkedIn:Bell Media Advertising SalesThe Lede About Bell MediaBell Media is Canada's leading media and entertainment company with a portfolio of assets in premium video, audio, out-of-home advertising, and digital media. This includes Canada's most-watched television network, CTV; the largest Canadian-owned video streamer, Crave, with a premium add-on to include STARZ; a powerful suite of specialty channels; the most-trusted news brand, CTV News; Canada's cross-platform sports leaders, TSN and RDS; leading out-of-home advertising network, Astral; Québec's fast-growing conventional French-language network, Noovo; the country's leading radio and podcast app, iHeartRadio Canada; and a range of award-winning original productions, brands, and services. As a content leader and partner in Sphere Media, Sphere Abacus, Montréal's Grande Studios, and Dome Productions, one of North America's leading production facilities providers, Bell Media is committed to keeping Canadians entertained and informed. Bell Media also offers best-in-class technology, marketing, and analytics support through Bell Marketing Platform, an omnichannel self-serve platform which includes Bell Audience Manager, Strategic Audience Management (SAM), and Bell Attribution Insights, in addition to advanced advertising solutions, including Live Connected TV and ads on Crave. Bell Media is part of BCE Inc. (TSX, NYSE: BCE), Canada's largest communications company. 1 Learn more at 1 Based on total revenue and total combined customer connections. SOURCE Bell Media View original content:
