HESTA's big plan to invest in European student beds, self-storage
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West Australian
9 hours ago
- West Australian
Lindian boosts coffers with $1.65M cash from shares and R&D refund
Lindian Resources has topped up its coffers with a double shot of cash totalling just under $1.65 million from the exercise of 10M unlisted options at $0.12 per share for $1.2M and a $448,753 research and development refund. The federal Research and Development Tax Incentive Program refund is for process development and metallurgical testwork Lindian conducted to improve beneficiation at its massive Kangankunde rare earths project in Malawi. Kangankunde, about 90 kilometres north of Malawi's main economic and commercial centre Blantyre, potentially ranks among the world's biggest rare earths deposits. It is highly regarded because of its elevated rare earths grades, low incidence of impurities and radioactive minerals, and attractive cost structure that positions the project in the lowest cost quartile of rare earths projects globally. The total indicated and inferred mineral resource for the project is 261 million tonnes at an average grade of 2.14 per cent total rare earth oxides (TREO) at a 0.5 per cent TREO cut-off grade. The total indicated resource is 61Mt grading 2.43 per cent TREO, at a 0.5 per cent TREO cut-off grade, which includes a higher-grade 25Mt averaging 3.26 per cent TREO using a higher 2.5 per cent TREO cut-off. The resources contain a maiden ore reserve of 23.7Mt at 2.9 per cent TREO, which studies show will support a stage one mine life of 45-years . Almost 20 per cent of the reserve comprises the more valuable magnet rare earths, neodymium and praseodymium. Stage one development involves mining and a mineral processing plant and necessary support infrastructure and would be a logical springboard for future expansions of the operation. Lindian's beneficiation studies on the Kangankunde deposit have focussed on gravity and magnetic separation techniques to extract a concentrate. Initial studies show that water-only, low-cost beneficiation methods aimed at minimising capital expenditure will yield about 70 per cent recovery. The company aims to produce a high rare earth oxide concentrate of 60 per cent TREO for export. Earlier this month, Lindian's site development update showed it was well on track with haul road construction, critical infrastructure and solar power farm works. Additionally, mining and power infrastructure contracts and pricing for long lead-time items are being finalised and shortlisted. Lindian has also recently appointed experienced personnel across its site operations to fill roles including senior process engineer, construction superintendent, project planner, QA/QC superintendent and health, safety and environment officer. The company remains on track to begin plant construction this year. Is your ASX-listed company doing something interesting? Contact:
West Australian
9 hours ago
- West Australian
EV Resources locks in historical antimony project in Mexico
EV Resources has officially sealed a 70 per cent stake in its high-grade Los Lirios antimony mine in Oaxaca, Mexico. The company now aims to fast-track the critical minerals project towards mine development thanks to a string of recent value-accretive project divestments. The company has executed a binding assignment of mining rights over the 1552-hectare project, which includes three mining concessions. The three historic open pits and multiple underground workings previously churned out commercial-grade direct shipping ore (DSO). EVR owns 70 per cent of a new joint venture entity that holds the project. It will now look to leverage proceeds from several recent shrewd divestments to fast-track development at Los Lirios, positioning itself to capitalise on an skyrocketing antimony market amid global, Chinese-controlled supply constraints. EVR will now steer the ship at Los Lirios, providing management and capital to ramp up production to a targeted 300 tonnes DSO per day. The company is wasting no time, with 30-kilogram samples already undergoing ore characterisation and mineralogy analysis. It expects to soon receive the results. The samples will feed into recovery test work focused on gravity methods, which have proven effective for antimony in Mexico. EVR is also in talks with owners of permitted plant sites to establish a pilot processing plant. Its aggressive timeline will look to cash in on its staggeringly high-grade ore, which includes stockpile assays as high as 29.17 per cent stibnite – the primary antimony sulphide ore. Fuelling this ambitious push are the proceeds from the company's recent portfolio rationalisation, including the recent blockbuster sale of its Yanamina gold-silver project in Peru to TSX-listed Daura Gold for up to US$6 million (A$9.3M). Similarly, EVR recently disposed of its Coyote Creek antimony project in Utah to Trigg Minerals for a handy $450,000 in cash and shares, delivering a tidy profit on an asset acquired for less than $150,000 just one month earlier. The sale of the La Cienega copper project in Arizona to Magnum Mining and Exploration, with a 2 per cent royalty on future production, further bolsters the company's future earnings potential. The savvy divestments have armed EVR with a war chest to accelerate development at Los Lirios and its Parag copper-molybdenum porphyry project in Peru. The company's strengthened cash position allows it to fund critical exploration and development activities, including sampling, trenching and drilling programs, which are set to kick off at Los Lirios early next year. EVR is eyeing strategic partnerships to unlock Parag's massive porphyry-style potential, after a previous drilling program delivered some eye-popping molybdenum intersections such as 18 metres running 1.7 per cent copper and 0.4 per cent moly from just 11m. As Los Lirios shapes up as a cornerstone asset for the company's Americas-focused strategy, EVR can now channel its divestment proceeds to fast-track its antimony supply. That could also help relieve the unprecedented market pressure pushing the price of the critical metal to a massive US$60,000 (A$92,000) per tonne. Is your ASX-listed company doing something interesting? Contact:
Herald Sun
11 hours ago
- Herald Sun
AUC on track for Katanning gold feasibility
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. AUC extends Datatine shoot at Katanning gold project Assays include grades up to 5.8g/t gold Project feasibility study due for release in late-June Special Report: Ausgold has extended the Datatine high-grade shoot by 240m down-plunge at its Katanning gold project (KGP) in WA. New results reinforce the potential of Datatine as a high-grade underground prospect and support a strong outlook for future resource growth at Katanning. The company is in the final stages of a feasibility study at the project, as it accelerates towards its goal of becoming Australia's next mid-tier gold producer. Plan map of the Katanning gold project. Pic: AUC The Datatine prospect hosts some of the highest gold grades within the project, previously returning grades of up to 11.47g/t. This final batch of assays from four reverse circulation-diamond and diamond drill holes have extended the Datatine shoot 240m down-plunge of the current Datatine resource. They returned a notable 6.6m at 3.40g/t gold from 362m, including 3.8m at 5.80g/t from 364.85m in BSRCD1805, the deepest hole in this program. Hole BSRCD1803 returned 2m at 3.67g/t from 297m along with 11.3m at 0.96g/t, including 4.2m at 1.81g/t from 333.83m. This hole, along with holes BSRCD1802 and BSDD049, returned intersections consistent with economic open pit grade intercepts. These results have informed an updated geological model for the high-grade mineralisation at Datatine. Datatine prospect-scale plan map with new drilling highlighted and aeromagnetic background. Pic: AUC Highlights underground mining potential Ausgold (ASX:AUC) will now utilise funding of up to $180,000 secured through Round 31 of the Geological Survey of Western Australia (GSWA) Exploration Incentive Scheme (EIS) to: Target sections where high-grade mineralisation is interpreted to have been missed; and Test for further high-grade mineralisation up to 150m beyond the current down-plunge extent. 'The latest assay results from Datatine continue to validate the potential for underground mining at Katanning,' AUC executive chairman John Dorward said. 'Results from BSRCD1805, which sit 240m down-plunge of the current resource, are particularly encouraging and support our strategy to pursue resource growth at depth. 'With both Datatine and the Central Zone remaining open down-plunge, we see clear opportunities to increase resources at the KGP and look forward to undertaking additional drilling at Datatine, supported by EIS co-funding, to follow-up this opportunity.' The company is on track to complete the project feasibility study considering the development of a large-scale, long-life open pit gold project at Katanning in late June. This article was developed in collaboration with Ausgold, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Ausgold reinforces Katanning underground potential with high-grade hits
