Break it Down: Australian Mines secures Boa Vista earn-in
In this episode, host Tylah Tully looks at the latest from Australian Mines (ASX:AUZ), which has secured the right to earn up to 80% of the Boa Vista gold project in Brazil's Pará state.
Tune in to hear all about it.
While Australian Mines is a Stockhead advertiser, it did not sponsor this content.
Originally published as Break it Down: Australian Mines secures Boa Vista earn-in
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News.com.au
8 hours ago
- News.com.au
Resources Top 5: Kaili's insane 8000pc Monday burst blows eyebrows clean off ASX heads
A highly unusual trading day for KLR raised more than a few eyebrows MTB is picking up two advanced, high-grade gold projects in WA BCN has returned 10 metres at 69.9g/t gold, including 1m at 593g/t, from Iguana deposit Your standout small cap resources stocks for Monday, August 18, 2025 Kaili Resources (ASX:KLR) A highly unusual trading day, to say the least, for Kaili Resources raised more than a few eyebrows, prompting two trading pauses and a price query from the ASX. At one stage on Monday KLR burst 8000% up the charts, an explosion worthy of a memecoin. After the largely unnoticed junior received approval from South Australia's mining regulator on Friday, August 15, for drilling of its rare earths projects across Lameroo, Karte and Coodalya on the Limestone Coast in the state's southeast and closed at 3.6c, the price hit a staggering $3.18 today. A pause in trading around midday AEST did little to halt the trend as the price continued to soar. This was followed by a response to an ASX price query just after 2pm AEST and another price halt just before the close at $1.08, with shares having dumped 66% of their value from their heady mid-afternoon peak. Late in the day the company fell by around 194% to close at $1.08, which still represented a 2900% increase on the previous close. Less than 2 million shares changed hands, with around $1.8m bucks traded. That's well beyond the paltry 15,858 average over the past four weeks. In response to questions from Stockhead about the highly unusual trading pattern, the ASX said: 'ASX is aware of the trading in Kaili Resources (ASX:KLR). ASX monitors trading on a real time basis throughout the day to identify abnormal trading. 'KLR was issued with a price query and two trading pauses were implemented during the day.' Good enough, we guess, nothing to see here. It marked a temporary windfall for the company's returning chairman Jianzhong Yang, who emerged with over 60% of the company according to a substantial shareholder notice ahead of his reappointment this month. At one point his ~88m shares were worth over $280m. Their value tumbled to $96m by the time the second halt was called. Rough. The only news of late with any market moving potential came last week, when Kaili Resources announced approval to drill some rare earth prospects in South Australia. And the curiosity piled up further with another explorer at the same Liverpool Street address, Ausmon Resources (ASX:AOA), halted after a 150% pop of its own. Pedestian, by today's standards. While the increases were staggering to say the least, another company with REE interests in the same region also pumped higher, somewhat more mildly. Australian Rare Earths (ASX:AR3), which has the advanced Koppamurra REE project in the SA southeast, lifted 14.29% to 16c. At Koppamurra AR3 has outlined a JORC 2012 resource of 236Mt at 748ppm total rare earth oxides. Mount Burgess Mining (ASX:MTB) After striking binding deals to pick up two advanced, high-grade gold projects in WA, with standout drill results including 6m at 64g/t gold, Mount Burgess Mining (ASX:MTB) doubled to a 12-month high of 1.2c. The acquisitions with Metal Hawk (ASX:MHK) and Falcon Metals (ASX:FAL) bring these companies in as major MTB shareholders, with the former also taking a board seat. The Viking gold project is a high-grade gold opportunity 30km east of Norseman in the Albany-Fraser Province with previous intersections including: 6m at 64 g/t Au from 50m; 4m at 15.4 g/t from 40m; 3m at 8.2 g/t from 43m; and 6m at 5.1 g/t from 141m. The Blair North Project is only 25km east of Kalgoorlie in the Eastern Goldfields and is surrounded by established operations and gold deposits. Recent drilling results include: 5.9m at 6.7 g/t Au from 244.4m; 2.5m at 7.4 g/t from 255.4m; 2m at 2.5 g/t Au from 105m; and 6m at 1.6g/t Au from 40m. Drilling approvals are underway, with work expected to kick off in Q4 2025, backed by an oversubscribed $900,000 placement to sophisticated investors at an issue price of 0.7c per share, representing an 18.5% premium to the 10-day VWAP. These projects give the company significant exposure to the strong gold sector, offering substantial exploration upside and setting a clear path forward as an active gold explorer. 'We are delighted to have secured these two exciting West Australian gold projects. We believe this a great result for MTB shareholders as we look forward to realising the potential of these highly prospective and underexplored tenement packages,' MTB executive chairman Steve Lennon said. 'Commencing gold exploration on these projects will be the company's immediate focus as we endeavour to get on the ground and start work as soon as possible. 'The acquisitions are consistent with the company's three-pillar strategic plan released on June 16, 2025, in which the board committed to advancing Kihabe–Nxuu while building the project pipeline through targeted acquisitions and partnerships. 'Today's transactions implement Pillar 3 (Project Pipeline Growth).' Beacon Minerals (ASX:BCN) An impressive 10 metres at 69.9 g/t gold, including 1m at 593 g/t, from Iguana deposit of the Lady Ida project WNW of Kalgoorlie has seen Beacon Minerals (ASX:BCN) reach $2.90, a high of almost 18 years and an increase of 70.1% on the previous close, before closing at $2.30. The results are from the second batch of assays in a stage 2 grade control drilling program, which has identified multiple high-grade zones. Other strong results: 19m at 8.6g/t Au from 16m, including 1m at 28.6g/t from 17m and 1m at 51.2g/t from 24m; 7m at 6.3g/t from 42m, including 1m at 33.5g/t from 47 metres; and 4m at 10.3g/t from 17m, including 1m at 32.50g/t from 19. 'These are fantastic results from the first 116 holes with four intercepts greater than 100 g/t, 17 intercepts greater than 20 g/t and 107 intercepts greater than 5 g/t,' executive chairman and MD Graham McGarry said. 'Therefore, our confidence and excitement at Iguana continues to grow as we prepare for first production early next year.' Trigg Minerals (ASX:TMG) Trigg Minerals (ASX:TMG) increased 17.2% to 11c on volume of more than 69m after acquiring 20 patented mining claims in Utah's Antimony Canyon. These new claims, which expand and enhance TMG's Antimony Canyon project and include full surface rights, come as the company seeks to tap into US government and Department of Defense interest in domestic antimony production. The patented claims protect Trigg from federal land policy changes and give it full freedom to design, construct and position processing facilities, waste storage and other infrastructure. Trigg acquired the new claims in return for US$1.9m, payable in staged tranches. They cover about 375 acres, expanding the existing Antimony Canyon project. Trigg Minerals managing director Andre Booyzen said taking ownership of the 20 new mining claims was a transformative step. 'We now control not only the mineral rights but also the land surface, giving us the ability to advance exploration and development without the delays and allow the company to aggressively pursue its near-term pilot-scale mining ambitions,' he said. Sunrise Energy Metals (ASX:SRL) Positive newsflow in the past few months from the Syerston scandium project in Central West NSW has seen Sunrise Energy Metals (ASX:SRL) attract attention with shares lifting 28.31% to $1.70, a high of two years. While there has been no material news this month for SRL, which has Ivanhoe Mines doyen and mining billionaire Robert Friedland as its non-executive co-chair, the company is well placed to serve growing Western demand for the critical metal. The Syerston project hosts one of the world's largest and highest-grade scandium deposits. A feasibility study was completed in August 2016, supported by extensive piloting, metallurgical test work and engineering and this is being updated. Positive results of up to 16m at 869ppm Sc from 6m late last month point to more potential. 'The continuity of high-grade scandium mineralisation from this step-out campaign, which remains open in multiple directions, will allow us to target flexible, low-cost mining operations within multiple areas of our Mining Lease,' SRL MD Sam Riggall said.
News.com.au
12 hours ago
- News.com.au
Top 10 at 11: ASX recovers from early dip as small caps struggle to secure funding
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. Wobbly start to trade After a record-breaking performance last week the ASX 200 is looking a tad unsteady this morning, dipping in the first hour of trade before recovering with an 8-point lift. Up just 0.09% with an even split of 6 sectors rising and 5 sliding, it's tough to predict which way the market will go this Monday morning. Both US and European share markets had soft performances on Friday afternoon despite lifting over the last five trading days, providing little momentum to carry into this week. Oil fell 1.7% to US$65.60 a barrel of Brent crude as markets await the result of talks between US President Trump and Russian President Putin in Alaska. Gold slid just 0.1% to US$3382 an ounce with spot gold trading at US$3341.6 an ounce. Iron ore slid 0.2% to US$101.59 a tonne but gained 0.4% over the week. The announcement boards are once again fairly bare for our small cap leaders, but more than one ASX company is struggling to lock in funding this morning and share prices are suffering for it. SMALL CAP WINNERS Code Name Last % Change Volume Market Cap LMLR Lincoln Minerals 0.002 100% 900929 $312,367 GTE Great Western Exp. 0.021 50% 5140335 $7,948,611 GGE Grand Gulf Energy 0.003 50% 500000 $5,640,850 CHM Chimeric Therapeutic 0.004 33% 136568 $9,763,676 KLR Kaili Resources Ltd 0.048 33% 45480 $5,306,413 BCN Beacon Minerals 2.2 29% 160742 $180,680,630 MMR Mec Resources 0.009 29% 7714807 $12,948,361 OVT Ovanti Limited 0.009 29% 48646421 $29,920,265 AOK Australian Oil. 0.0025 25% 525825 $2,075,566 ERA Energy Resources 0.0025 25% 224395 $810,792,482 In the news... Beacon Minerals (ASX:BCN) has hit bonanza grade gold in drilling at the Iguana deposit, part of the Lady Ida project in WA. The stand out result among some solid gold hits was a 10-metre intersection grading at 69.9 g/t gold from 40m of depth. Within that gold hit, BCN encountered a metre-wide mineralised section grading at 593 g/t gold, alongside more bonanza intersections of 42.1 g/t and 50.2 g/t for a total of 17 results above 20 g/t gold. Management says the assays are a 'fantastic' result that provides greater confidence as the company prepares for first production early next year. SMALL CAP LAGGARDS Code Name Last % Change Volume Market Cap HFR Highfield Res Ltd 0.12 -51% 420693 $116,148,876 MOM Moab Minerals Ltd 0.001 -33% 58975 $2,811,999 SFG Seafarms Group Ltd 0.001 -33% 50000 $7,254,899 UBI Universal Biosensors 0.014 -26% 2051145 $5,663,281 ERL Empire Resources 0.003 -25% 2517000 $5,935,653 JAY Jayride Group 0.004 -20% 4660165 $7,139,445 VRC Volt Resources Ltd 0.004 -20% 2070000 $23,424,247 AVE Avecho Biotech Ltd 0.006 -14% 185000 $22,214,246 AD8 Audinate Group Ltd 5.22 -14% 506436 $511,289,266 EV1 Evolutionenergy 0.013 -13% 356071 $5,440,047 In the news... Highfield Resources (ASX:HFR) has had a set back in the funding negotiations to develop its flagship Muga potash project in Spain, after Qinghai Salt Lake Industry withdrew from a proposed strategic equity subscription. Qinghai Salt Lake, a subsidiary of China Minmetals Corporation and Yankuang Energy Group, was set to invest US$300m in HFR under a non-binding letter of intent. Qinghai has since informed Highfield they will not be proceeding with the transaction. Universal Biosensors (ASX:UBI) has agreed to extend the due diligence period for a potential loan facility being negotiated with Viburnum Funds by one week to Friday, August 22. UBI says Viburnum has made no binding commitment to furnish the loan facility at this point, and has not met the conditions of the funding structure. The company says it will update the market with a revised timetable when possible.
News.com.au
12 hours ago
- News.com.au
Kristie Batten: Hot Waratah builds on Diggers buzz
One of Australia's top mining journalists, Kristie Batten, writes for Stockhead every week in her regular column placing a watchful eye on the movers and shakers of the small cap resources scene. If there was one 'buzz' stock at this year's Diggers & Dealers Mining Forum in Kalgoorlie, it was Waratah Minerals (ASX:WTM). The company was a late addition to the Monday morning program, replacing Spartan Resources following the completion of its takeover by Ramelius Resources (ASX:RMS). That same day, Waratah announced that extensional drilling at its Spur gold project in New South Wales' East Lachlan region had returned multiple zones of visible gold at Consols. The standout hit from hole 62 was 208.7m at 1.17 grams per tonne gold from 514m, including 89m at 1.96g/t gold, including 38m at 3.61g/t gold. The hole indicated a major extension of the Spur Gold Corridor north of the Essex Fault by a further 500m to around 1.5km along strike. The intercept sent Waratah shares surging by as much as 50% that day, making it the sudden darling of Kalgoorlie. In his conference wrap, Bell Potter Securities analyst David Coates described Waratah as justifiably the 'talk of the town' and its announcement as the biggest news to come out of the conference. Waratah managing director Peter Duerden described the sudden attention as 'surreal and a bit of a blur'. 'It felt like we belonged in the room,' he told Stockhead. 'Sometimes you feel a bit awkward going to those conferences, but it's a proper, real story and pretty exciting.' Genuine discovery Blue Ocean Equities analyst Carlos Crowley Vazquez maintained his speculative buy rating and lifted his price target by 30c to $1.50 per share – more than double Friday's closing price. 'Waratah has shown that a disciplined and systematic drilling program across its Spur epithermal gold project can also be bold and exciting,' he said. Crowley Vazquez sees similarities between Spur and Evolution Mining's 2.74 million ounce GRE46 gold discovery at the Cowal operation. 'GRE46 and Spur are both in the East Lachlan Fold Belt, on the margin of major complex intrusive systems with similar stratigraphy, present early-stage albite-hematite alkalic porphyry alteration with gold in epithermal veins/pyrite stringers,' he said. He sees a pathway to a material resource at Spur of more than 3Moz of gold and says recent results have increased the probability of a discovering a system similar to Cowal. Spur is also just 12km from Newmont Corporation's 34 million tonne Cadia mill, which processes gold-copper ore from Australia's largest underground mine. As well as Newmont and Evolution, Fortescue, Gold Fields and AngloGold Ashanti are also active in the region. 'It is sort of the land of the majors, mainly, but there's a couple of good junior stories as well, around the exploration, discovery phase,' Duerden said. 'It seems to be especially the case in New South Wales, where every now and again, a discovery hit might happen and it'll just remind everyone that it's quite a major mineral province.' Funded for growth Last week, Waratah raised $30 million via a placement to institutional, sophisticated and professional investors. New shares were issued at 57.5c each, a 7.1% premium to the five-day volume-weighted average price. Waratah already has three drill rigs working at Spur but Duerden said the funds would allow it to accelerate activity and firm up its understanding of the system. 'We'll start to do a combination of resource drilling and extensional drilling, which got everyone excited with such a … bold discovery extensional result hole 62,' he said. 'It's really pointing to a significant gold system and we'll get the drilling in and around that now and we're able to hit it on multiple fronts and commence more (of) that systematic resource drilling as well.' Duerden said the focus would very much remain on discovery rather than resource drilling and there was no timeline set for an initial resource at this stage. 'We're quite keen to keep it as that exciting discovery story – that's what it is,' he said. 'We haven't seen the margins of the system, so until we feel like we're seeing the overall size of the system, we won't be messaging that. 'It's just that we're in a position now to do a bit of both that methodical resource work that has to ultimately get done, but I guess just highlighting the focus is still very much on that extensional drilling.' Waratah still has six drill holes pending and Duerden said the market can expect strong news flow from the company. 'A continuing expansion of the known system, which has sort of been about an 18-month journey so far, and we've just been building it out and doing that systematic work with occasionally surprising the market,' he said. 'And just making sure we're drilling multiple exploration fronts, having a few rigs operating at least.'
