Aurumin moves closer to cashflow after JV with mining contractor
One project has an almost shovel-ready 64,000 shallow ounces of gold that could end up being a quick cash cow for the JV partners, courtesy of toll treating.
Aurumin has also landed a million dollars from Newcam after agreeing to sell the non-gold rights at another of its Western Australian gold projects.
The deal with Newcam has three legs to it – Newcam can earn up to 50 per cent of Aurumin's Johnson Range project that already has the 64,000-ounce deposit. It can also earn up to 50 per cent of Aurumin's Mt Dimer gold project, which is littered with interesting gold targets. Newcam must spend $4M across Mt Dimer and Johnson Range to earn its 50 per cent. Remarkably, Aurumin can elect to be free carried all the way to net profit – something that could come sooner rather than later from the Gwendolyn deposit at Johnson Range.
Gwendolin already has 64,700 ounces of gold going 2.51 grams per tonne (g/t) gold within cooee of a number of mills. And the kicker is that Newcam comes replete with its own heavy mining equipment and mining know-how, giving rise to the possibility of early cash flows for the partners.
The $1M cash injection will come courtesy of the sale of Aurumin's non-gold mineral rights, primarily iron ore, at its flagship Sandstone project in WA.
Aurumin previously did a deal with ASX-listed Beacon Minerals, run by Kalgoorlie identity Graham McGarry, on its mining leases at Mt Dimer, which will see it pick up a 2 per cent royalty on gold production above 12,000 ounces on that ground.
It still holds a lot of exploration ground around that land that has seen very little modern-day exploration, despite it being a historical mining region that once pumped out 125,000 ounces at an impressive head grade of 6.4g/t gold.
The company's core focus remains on its Central Sandstone's 885,800-ounce gold resource, however, the deal with Newcam, particularly as it relates to the Gwendoline deposit, cannot be overstated in a gold price environment at about $5000 an ounce. Fellow ASX-listed company Auric Mining did a similar toll treating deal with a private contractor at its Jeffries find deposit near Norseman and pulled about $100M worth of gold out of it that was toll treated near Coolgardie.
With a fresh $1M cash influx, a fully funded new joint venture and a sharpened focus on Central Sandstone, with upside from both Johnson Range and Mt Dimer, Aurumin is starting to take on a remarkably different complexion and could be on the cusp of actually making some money.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
8 hours ago
- News.com.au
Closing Bell: ASX sets 17th record high for 2025 as market continues to show broad strength
ASX sets 17th intraday high for the year at 8963 Closes out trade at record 8959.3 points Broad sector gains continue with eight of 11 higher Bulls set the tone for fresh week of trade It wasn't looking this way as we chowed down for lunch in the east, but it's been an ultimately tidy open to this week's trade for the ASX 200. The benchmark finished up 0.23% or 20 points to give us a double whammy of new intraday and record highs once again. The ASX has been on a tear in recent weeks, offering up 17 new all-time highs this year. In a good sign for market stability, the gains haven't come from any one place, although mining and banking stocks have maintained their dominate position as trend setters. Today, telecoms and info tech led the pack, with some support from financials and the Banks index. Real Estate digital advertising giant REA Group (ASX:REA) led the telecoms sector higher, climbing 4.4%. The company is bringing Cameron McIntyre on as its newest CEO, effective November 3. He oversaw a six-fold increase in the value of CAR Group Limited in his nine years as CEO. McIntyre will be taking over for outgoing CEO Owen Wilson, who's looking to make a retirement from full time executive roles. Materials – in particular resources and gold stocks – weighed on the other side of the balance sheet alongside energy and a small dip in industrials, but the damage was limited. BHP (ASX:BHP) and Rio Tinto (ASX:RIO) fell more than 1% each, while Fortescue (ASX:FMG) slid 0.6%. Critical mineral stocks were having a much better time of it. Rare earths miner Lynas (ASX:LYC) added 1.9%, while lithium stock Pilbara Minerals (ASX:PLS) jumped 3.2% and Mineral Resources (ASX:MIN) added 1.3% Overall, despite some midday hiccups, it's been a day of steady upward progress for the ASX. Let's see who's been able to capitalise on that momentum. ASX Leaders Today's best performing stocks (including small caps): Code Name Last % Change Volume Market Cap KLR Kaili Resources Ltd 1.08 2900% 1882040 $5,306,413 AOA Ausmon Resorces 0.0045 125% 31270577 $2,622,427 MTB Mount Burgess Mining 0.012 100% 48362991 $2,553,830 AHX Apiam Animal Health 0.795 49% 2151677 $98,409,250 BCN Beacon Minerals 2.3 35% 706852 $180,680,630 CHM Chimeric Therapeutic 0.004 33% 136568 $9,763,676 VKA Viking Mines Ltd 0.008 33% 4777420 $8,063,692 IFG Infocusgroup Hldltd 0.025 32% 11232127 $5,546,844 LNR Lanthanein Resources 0.052 30% 850553 $7,493,763 OVT Ovanti Limited 0.009 29% 75675099 $29,920,265 VML Vital Metals Limited 0.14 27% 1850545 $12,968,919 ADN Andromeda Metals Ltd 0.014 27% 34598528 $41,983,440 IXC Invex Ther 0.095 27% 98193 $5,636,539 JNO Juno 0.03 25% 195114 $5,021,689 AOK Australian Oil. 0.0025 25% 700825 $2,075,566 ERA Energy Resources 0.0025 25% 1321373 $810,792,482 VFX Visionflex Group Ltd 0.0025 25% 1982 $6,735,721 LMG Latrobe Magnesium 0.021 24% 15469989 $44,786,485 RWL Rubicon Water 0.21 24% 33381 $40,918,167 SRL Sunrise 1.625 23% 1656512 $155,356,259 IS3 I Synergy Group Ltd 0.011 22% 893410 $15,356,699 GTE Great Western Exp. 0.017 21% 11694014 $7,948,611 UNT Unith Ltd 0.0085 21% 4495211 $10,351,498 1AD Adalta Limited 0.003 20% 1189832 $2,886,625 CYQ Cycliq Group Ltd 0.006 20% 924978 $2,302,583 In the news… Kaili Resources (ASX:KLR) fended off a price query from the ASX after its share price surged an eye-watering 2900% today, pointing to Friday's drilling approval news that saw them topping our ASX Leaders chart last week, too. KLR is preparing to drill for rare earths on three tenements in South Australia. Previous results from a maiden drilling program on Lameroo, one of the three areas in question, peaked at 356 parts per million total rare earths. How about this chart… that's pretty insane and untoward action to say the least. Read today's Resources Top 5 for more. Mount Burgess Mining (ASX:MTB) is poised to snap up two advanced gold projects from fellow ASX listers Metal Hawk (ASX:MHK) and Falcon Metals (ASX:FAL). MTB is looking to acquire the Viking gold project and the Blair North project, which have both produced high-grade gold grades up to 6m at 64 g/t gold from 50m and 5.9m at 6.7 g/t gold from 244.4m, respectively. Apiam Animal Health (ASX:AHX) is climbing after fielding a non-binding takeover offer from Adamantem Capital Management. The investment firm is offering to acquire AHX via a scheme of arrangement at $0.88 cash per share. I'll hand over to Stockhead's own Tim Boreham to give you the full run down. Beacon Minerals (ASX:BCN) 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 a startling 593 g/t gold, alongside 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. ASX Laggards Today's worst performing stocks (including small caps): Code Name Last % Change Volume Market Cap HFR Highfield Res Ltd 0.13 -47% 2655017 $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 0.013 -32% 3931599 $5,663,281 SKK Stakk Limited 0.005 -29% 291299 $14,525,558 M2R Miramar 0.003 -25% 7897727 $3,987,293 PLC Premier1 Lithium Ltd 0.009 -25% 136601 $4,416,727 GTRDA Gti Energy Ltd 0.125 -22% 305646 $14,835,762 PET Phoslock Env Tec Ltd 0.011 -21% 12848562 $8,741,467 AD8 Audinate Group Ltd 4.83 -20% 2893393 $511,289,266 TMK TMK Energy Limited 0.002 -20% 290555 $25,555,958 VRC Volt Resources Ltd 0.004 -20% 2470000 $23,424,247 BCK Brockman Mining Ltd 0.018 -18% 22750 $204,165,107 1CG One Click Group Ltd 0.01 -17% 988767 $14,187,434 AJL AJ Lucas Group 0.01 -17% 3194034 $16,508,756 ALR Altairminerals 0.01 -17% 12603476 $54,560,930 BEL Bentley Capital Ltd 0.01 -17% 834640 $913,535 CRB Carbine Resources 0.005 -17% 693700 $6,000,978 FBR FBR Ltd 0.005 -17% 7071488 $34,136,713 LU7 Lithium Universe Ltd 0.01 -17% 11540403 $17,231,755 PPY Papyrus Australia 0.01 -17% 16040 $7,234,581 SLZ Sultan Resources Ltd 0.005 -17% 200000 $1,566,501 TMX Terrain Minerals 0.0025 -17% 2000000 $7,595,443 NHE Nobleheliumlimited 0.042 -16% 1180203 $29,976,250 RML Resolution Minerals 0.048 -16% 20555425 $70,441,162 In Case You Missed It ReNerve (ASX:RNV) has completed the first sale and clinical use of its new deep dermal tissue product line. HyTerra (ASX:HYT) has found hydrogen and helium while drilling its third well at the Nemaha project in Kansas, USA. Albion Resources (ASX:ALB) has identified 17 new Yandal West targets including seven high-priority drill targets with strong geological similarities to the Collavilla prospect. Artemis Resources (ASX:ARV) inks approval for Exploration Licence E69/4266, covering the Cassowary Intrusion and three nearby targets with copper-gold potential. Power Minerals' (ASX:PNN) second-phase auger drilling at the Santa Anna project has intersected high-grade niobium and rare earths, reinforcing confidence in outlining a future resource. Chariot Corporation (ASX:CC9) has appointed Leo Lithium (ASX:LLL) director Brendan Borg as an independent non-executive director. CuFe (ASX:CUF) now has the option to include gold, bismuth and silver as additional revenue streams at the Tennant Creek project after a 400% increase to the Gecko Trend resource estimate. Trading halts
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.
Sydney Morning Herald
12 hours ago
- Sydney Morning Herald
Pacgold snaps up Queensland gold-antimony project
ASX-listed Pacgold Limited has added some serious sparkle to its exploration portfolio after locking in a farm-in agreement to acquire up to 100 per cent of the St George gold-antimony project in northern Queensland's Hodgkinson Province. Pacgold now holds the reins to a massive 905-square-kilometre patch 450 kilometres northwest of Cairns, which has barely been touched by modern exploration despite old-time miners hauling out stibnite – the host rock for antimony - running at a jaw-dropping 60 per cent from shallow pits and adits. Adding to the project's credentials, and as part of the company's own due diligence, Pacgold has also picked up several rock chips, including one running at 66.6 per cent stibnite, a second grading 49.4 per cent stibnite and a third standout sample clocking in at 16.35 per cent stibnite with 10.1 grams per tonne (g/t) gold. A nearby prospect, Poppy, coughed up a jaw-dropping rock chip grading 112g/t gold and 17.5 per cent stibnite, suggesting the system has more than a little firepower left in the tank. 'Pacgold is advancing its flagship Alice River gold project and is now adding the complimentary St George gold and antimony project to the company's growth strategy.' Pacgold Limited managing director Matthew Boyes Under the terms of the agreement, Pacgold will gain full ownership of the project through a staged pathway. To get the ball rolling, the company has paid $200,000 in cash and 10 million shares to vendor Hardrock Mineral Exploration. Stage one will be completed and 51 per cent of the project will change hands when Pacgold has spent $250,000 on the ground in the first 12 months and $1.5m within 24 months. The stage two milestone to boost the company's holding to 80 per cent will be met if Pacgold completes a bankable feasibility study on a resource of at least 200,000 ounces gold equivalent before August 2031. Pacgold can then elect to go to full ownership within one year of the feasibility, after an independent valuation determines a suitable payment for the remaining 20 per cent. Hardrock will retain a 2.5 per cent net smelter return royalty on antimony and 1.5 per cent on gold, with Pacgold able to buy back half at fair value.
