Latest news with #BallardMining
News.com.au
11 hours ago
- Business
- News.com.au
Kristie Batten: Former De Grey chair thinks Ballard's Mt Ida has much more gold to give
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. The dust has barely settled from Northern Star Resources' $6 billion takeover of De Grey Mining, but De Grey's former chair Simon Lill already has his sights set on his next success, the newly listed explorer Ballard Mining (ASX:BM1). 'I get asked, why have I joined Ballard? And my answer is, my daughter wants me to retire, but it was actually just too good an opportunity,' Lill told reporters on the sidelines of Diggers & Dealers in Kalgoorlie last week. 'The money came together fairly easily, so we're now well capitalised, well cashed up with lots of opportunities, and it's going to be an exciting, I'm going to say six months, but probably 18 months for the company.' Ballard was spun out of Delta Lithium (ASX:DLI) and raised $30 million before listing on the ASX last month. Joining Lill on the board is former Calidus Resources chief operating officer Paul Brennan as managing director, former Ramelius Resources chief financial officer Tim Manners as finance director, and former Gold Fields VP Australasia Stuart Mathews and Delta MD James Croser as non-executive directors. Delta retained a 46% stake in the company, escrowed for two years, while the company's 'rock star share register' also includes Hancock Prospecting and Mineral Resources as substantial shareholders. Mt Ida underexplored Ballard's Mt Ida gold project in Western Australia's Goldfields has a resource of 10.3 million tonnes at 3.33 grams per tonne gold for 1.1 million ounces. 'We've got a million ounces here already without really trying, and it's just still scratching the surface, so who knows how big that can become?' Lill said. The project features 26km of two continuous, underexplored shear zones. 'It's amazing, I think, in general, in the broader Kalgoorlie region in the northeastern Goldfields, how much gold is still being discovered, and yet, I look at Ballard and that first discovery was in 2001 and it's hardly been touched since then,' Lill said. 'So it's not like we've done anything brilliant, but it's been a good discovery and we're going to keep adding to it. 'Even with my previous history at De Grey, we had 2 million ounces before we discovered Hemi, and we couldn't get any interest, but it was well known that there was gold in the region, so I think there's still going to be a lot more gold discovered.' The company has kicked off a 130,000m drilling program with four rigs. Around 80,000m of infill and extensional drilling is planned at the 930,000oz Baldock deposit, where the most recent program added 256,000oz in resources at an all-in cost of less than $25 an ounce. Baldock has more than 7km of strike to the north, with an average drilling depth of just 43m, which will also be aggressively tested. Ballard is targeting a resource update, targeting the addition of 400,000-500,000oz, and maiden reserve in the June 2026 quarter. Optionality The Baldock deposit sits on granted mining leases, meaning that Ballard could 'go mining fairly quickly'. Mt Ida sits within 100km of four operating gold mills, including Aurenne Group's own Mt Ida, Ora Banda Mining's Davyhurst, Vault Minerals' King of the Hills and Genesis Minerals' Leonora. 'I'd struggle to think there's a better place for gold developments than where we're situated,' Lill said. The closest mill to Mt Ida is privately owned Aurenne's 1.5 million tonne plant, which is just 6km away. 'It'll be logical to have discussions with Aurenne,' Lill said. 'The history around Kalgoorlie is that mills tend to be hungry, and they're always looking for new ore. 'There has been a lot of M&A in the gold industry recently, and that's probably going to continue.' Lill said the main aim of Ballard was to build its own plant. 'That's how you've got to approach these things,' he said. 'We're not setting ourselves up for takeover, but yes, obviously there's a lot of optionality. 'We would be silly not to talk to Aurenna or Ora Banda … I imagine they will look at us as a source of ore at some stage in the future.' Ballard has already had a strong first month as a listed company, rising to as high as 45c last week, against its 25c IPO price. Argonaut analyst Patrick Streater recently initiated coverage of Ballard with a speculative buy rating and 71c price target. 'BM1's timeline to production compares favourably against other WA gold developers, greatly benefiting from the existing mining leases in place, along with a board and MD with the necessary experience to build and operate Mt Ida,' he said.
News.com.au
5 days ago
- Business
- News.com.au
Post demerger, Delta Lithium moves counter-cyclically with expansion and drilling plans
Delta Lithium is betting on long-term upside with new drilling at Yinnetharra Acquisitions have significantly grown Delta's Yinnetharra landholding, paving the way for more drilling opportunities The company is keen to use its strong balance for potential M&A down the track Fresh from the demerger of its gold assets into ASX-newcomer Ballard Mining (ASX:BM1), Delta Lithium (ASX:DLI) has come to the fore with ambitious growth plans for its Yinnetharra project, timing an upcoming drilling campaign for what analysts suggest could be the cyclical bottom of the lithium sector. For strategic players like Delta, acting counter-cyclically means taking a long-term view, especially when it comes to exploration and acquiring high-quality assets at a discount. It may seem risky but downturns offer unique opportunities for companies looking to de-risk and position themselves ahead of the next boom. That's been Delta Lithium's strategy with the expansion of its project footprint at Yinnetharra earlier this year after its purchase of Minerals 260 (ASX:MI6) Aston project and Zeus Resources (ASX:ZEU) Mortimer Hills landholding. Both acquisitions took Delta's total footprint in WA's Gascoyne from 1769km2 to more than 3100km2, opening immediate exploration opportunities along strike of the company's existing deposits at Malinda and Jameson. Near total control of Leake Springs lithium hub Mortimer Hills is just 5km southeast of Malinda while Aston is ~20km from Malinda and another 2km along strike from the 800,000t at 1.66% Li2O Jameson prospect. The company now controls almost all of the Leake Springs meta-sediment unit, which hosts the Malinda and Jameson resources for a combined 21.9Mt of lithium. Mortimer Hills presents enormous prospectivity owing to its location near Malinda, where Yinnetharra's M1 and M36 pegmatites contain a combined 14.6Mt of the indicated resource, providing enough confidence to begin mining studies. Aston features multiple lithium, tantalum and rubidium soil anomalies, including a 5km-long lithium trend at Pyramid Hill – with no drilling previously undertaken. Many of these tenements adjoin Delta's existing holdings and JV areas, streamlining exploration and potential development. Final piece of the lithium puzzle DLI managing director James Crosser told Stockhead Aston filled the last crucial piece of the puzzle for the company as it looked to utilise the knowledge gained over the last few years and apply it over that ground. 'It filled the last keystone in the Leake Springs meta-sediment unit to the southeast of Jameson – and we knew that the anomalism in the surface geochemistry trended that way,' he said. 'Minerals 260 had done some fairly extensive work across the six or seven kilometres of strike that we were most interested in and being able to acquire that ground for the deal we did was too compelling to ignore. 'It was a good pick up.' With an extensive heritage survey all wrapped up, Crosser said the $107.7m market cap explorer was eager to drill more holes into the Jameson prospect to expand the resource the company defined there. 'We'll then progress out to the southeast along the Leake Springs metaseds across the Aston project and drill some holes into that and then some other prospects on our tenure like Yamazaki back towards Melinda, and we're really hopeful that we'll hit some more lithium pegmatites on the way,' he said. 'There's a fair bit of drilling to be done to keep us busy for the rest of the year but the work we'll be doing isn't the high intensity, multiple drill rig work we were doing when we were delineating Malinda. 'We're being a lot more judicious with the amount of capital we're spending until the lithium market looks like it has turned, and we're starting to maybe see that now,' Crosser added. 'Until we're a bit more confident, we're being a little restrained, keeping the geology teams on that relatively cheaper field work with some modest drilling on high priority targets rather than drill everything.' Delta keeps eyes on lithium at Mt Ida Despite a busy start to the year with Yinnietharra acquisitions, Delta continues to prioritise lithium development at Mt Ida, adjacent to the gold resources at the site. In 2023, the company revealed combined inferred and indicated resources at Mt Ida of 14.6Mt at 1.2% Li2O and 191ppm tantalum pentoxide, with the indicated resource (7.8Mt at 1.3% Li2O) representing a 136% increase on the previous estimate. Given the scale of the Mt Ida Gold MRE and a potential future standalone mining operation, Delta's board decided to demerge the asset into Ballard to drive value for both Delta and new Ballard shareholders. The demerger received strong institutional and retail support, raising $30m through an IPO to drive a 130,000m drilling campaign and tap into 26km of under explored greenstones along gold-rich structures known for major finds. Crosser said Delta was quite proud of getting Mt Ida into its own little home, with the demerger taking up most of the company's time. 'The most prudent thing for us to do now is wait and see how the Ballard feasibility on the gold proceeds,' Crosser said. 'When Ballard is able to put some real infrastructure and mining shapes around the gold - particularly at the Baldock deposit where Delta's lithium is - we'll be able to collaborate on optimising that outcome to suit Ballard as much as suit Delta. 'We're really waiting to see that come together so we can leverage off Ballard's investment to get a cheaper outcome and to exploit our lithium there.' Potential M&A on the cards Now, with Delta's 46% equity position in Ballard and its cash balance of nearly $59m, Crosser said the company was set on using its strong balance sheet to have a look around and see if they put that towards some good M&A. 'We're particularly interested in projects that support our current strategy, which is to bolster the scale and scope of our existing projects and also perhaps open a third front,' he said.
News.com.au
03-07-2025
- Business
- News.com.au
IPO Watch: Ballard Mining – the ‘new' gold explorer ready to hit the ground running
Delta Lithium spin-off Ballard Mining has raised $30m ahead of anticipated July 14 ASX listing Plan is to explore and develop 1.1Moz Mt Ida gold project in WA, including 930,000oz Baldock deposit 130,000m of drilling planned to prep potential mid-tier gold mine for investment decision Paul Brennan, the executive charged with bringing the ASX's newest gold explorer Ballard Mining to public markets, says the launch of its IPO has been "the great reveal". That's because the company's Mt Ida gold project has been, so to speak, hiding in plain sight. Sitting in the back pocket of Mineral Resources (ASX:MIN) and Gina Rinehart backed Delta Lithium (ASX:DLI), the project has quietly grown into one of the largest pre-development standalone WA gold assets on the ASX. Located west of the WA Goldfields towns of Menzies and Leonora, Mt Ida contains a resource of 1.1Moz of gold at 3.33g/t, scale and grade rarely found in a new explorer. The centrepiece is the Baldock deposit, a 930,000oz at 4.1g/t deposit quirkily named after St Kilda's sole premiership captain Darrel and odds-on to be become a gold mine before the Sainters crack a second. "I think it's been the great reveal. It's been sitting within Delta Lithium, people aren't going to go there looking for gold investments," Brennan, who once ran the large Carosue Dam gold operations in a three year stint with Raleigh Finlayson's Saracen Mineral Holdings, said. "In addition to the resource you're on granted mining leases, there's no native title, we're fully permitted for mining, we've submitted a works approval application to DWER (WA's Department for Water and Environmental Regulation) for a standalone processing plant. "There are three key risks. Resource risk is obviously always number one, metallurgy risk is number two and permitting risk is number three, because if you haven't got your permitting sorted, you haven't got a mine. " The advanced permitting status in particular, as well as the high-grade resource and the million ounces, will be what sets us apart from our peers." Big raise Ballard will come to the ASX, currently scheduled for July 14, stocked with $30 million to drive an expansive 130,000m exploration campaign. That's come in the form of a priority $5m raise to existing DLI investors, which will bring MinRes and Rinehart's Hancock Prospecting into the fold as foundation shareholders, along with a $25m public raising, both oversubscribed. With gold prices at US$3350/oz, there has been no shortage of admirers and it still screens value. Delta will maintain a ~46% stake, bolstering its balance sheet, and after an in-specie distribution to DLI shareholders Ballard will boast an EV of just $57m or $52/oz. To give a sense of how the open market is valuing junior gold stocks, when the IPO was launched neighbour Gorilla Gold Mines (ASX:GG8) was running at an EV to resource ounce ratio of $288/oz. Baldock has what it takes to be the centrifugal force for a significant gold project of mid-tier scale. Around 80,000m of infill and extensional drilling will be focused there, with the intention of eventually defining a reserve that could underpin the first half of a hoped for decade long mine life. 402,000oz at Baldock sit in the higher confidence indicated category. Around 50,000m of drilling will be pure exploration spend, tapping into 26km of underexplored greenstones, located along the shears known for hosting major gold deposits in the Goldfields. With any luck and solid exploration work, Mt Ida could be shepherded to a final investment decision in the next 18 months. "The first five years (will be) fully de-risked out of Baldock and then an additional five years based on exploration success which we're reasonably confident of," Brennan said. "We've got a site team who comes across from Delta to Ballard. So they've all been out there kicking rocks around for the last two or three years. "There's a lot of on-ground knowledge and they've already identified 20 walk-up drill targets. We're flying a high resolution magnetic survey in July just to firm up those targets and then we'll roll out with the rotary lie detector test probably early August to start on the exploration." Hot property It is with great irony that Mt Ida has come, effectively, full circle. The 19 tenements that comprise the Mt Ida gold and lithium projects were vended into the old TNT Mines in 2021 by a then struggling Ora Banda (ASX:OBM) for $11m. At the time, the project contained an outdated JORC 2004 resource of 318,000t at 13.8g/t for 141,000oz, though historic mining at the Timoni mine – 265,000oz at 1-2oz to the tonne from until 1960 – gave a sense of the site's potential. Later renamed Red Dirt Metals and then Delta Lithium, the landscape has transformed since. Delta uncovered swathes of untested pegmatites at the project which, separate to the known gold deposits, led to a maiden resource of 14.6Mt at 1.2% Li2O and 207ppm Ta2O5. As lithium prices climbed to record highs, ~$200m of fresh capital passed through the door along with major institutional backers in MIN, Gina, America's Waratah and Japan's Idemitsu. When lithium went south, the focus turned to maximising the value of the nearby gold resources, pushing critical mass beyond 1Moz in April this year. The demerger will unlock new capital for Ballard while conserving the balance sheet of Delta, which also owns the +20Mt Yinnetharra lithium project in WA's Gascoyne region, preserving its lithium deposits for the next battery metals boom. Ballard is a potential whale in an increasingly interesting but often overlooked gold hotspot. Just 6km to the south is the Mt Ida gold project owned by private Aurenne Group, which contains a 200 person camp and 1.5Mtpa CiL plant. Around 100km to the south sits Ora Banda, which under new management has become a $1.4bn gold miner at its Davyhurst gold mine, at last word on track to produce 95,000oz last financial year. "Ora Banda is probably a good analogue for us," Brennan said. "It's the same geology, same narrow vein, high-grade underground mining method – we certainly see Mount Ida as predominantly an underground operation. "Aurenne are friendly, we continue to talk to them, we currently give them water, we share an aerodrome. There's an ongoing relationship there. " Our plan is to continue to go for genuine standalone scale. " (But) there's four processing plants within 100km so that just gives us the flexibility and optionality which is great. We're not some stranded gold mine. It's the first rule of real estate, right? Postcode, postcode, postcode." The aforementioned Gorilla – market cap $240m – owns the high-grade Comet Vale underground near Menzies, close to where $220m capped Brightstar Resources (ASX:BTR) also owns a collection of gold deposits where production is planned to start next year. Institutional support The attractiveness of Ballard to new investors has been accentuated by corporate activity and growth among mid-tier miners capitalising on the booming gold price. That's hollowed out the field of sub-ASX 100 and ASX 200 stocks small cap funds can dabble in. "You've got companies like Capricorn, Genesis, and Ramelius all entering the ASX 100, if they haven't already," Brennan said. " They've had De Grey, Spartan and Gold Road obviously acquired. So there's six companies that for a lot of funds are un-investable because their mandates don't allow them to invest in the ASX 100, and there's another three that are gone completely. "That's certainly what we've seen during the IPO. We were surprised at the amount of institutional support we received and I think there's a big recycling of capital occurring there." Ballard's board brings with it a wealth of experience. Alongside MD and CEO Brennan and Delta MD James Croser (a non-exec director in his Ballard hat) are non-exec chair Simon Lill, hot on the heels of the successful sale of his explorer De Grey Mining (ASX:DEG) to Northern Star Resources (ASX:NST) in a $6bn scrip deal, and former Gold Fields Australasian boss Stuart Mathews. The most recent addition has been finance director and CFO Tim Manners, who brings top-tier pedigree including six years as CFO at Ramelius Resources (ASX:RMS).
Daily Telegraph
27-05-2025
- Business
- Daily Telegraph
DLI gold spin-off Ballard has the right stuff
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Special Report: While junior explorers branching off non-core assets is hardly uncommon, it's not every day that a spin-off begins life with a gold asset with defined resources above the million-ounce mark. Delta Lithium's spin-off Ballard Mining will debut with a resource of more than a million ounces of gold Ballard will have an experienced team including chairman Simon Lill and Delta's chief development officer Paul Brennan as its MD Post-IPO activity will include drilling to boost existing and find new resources as well as work towards development That's exactly the exalted position that Delta Lithium's (ASX:DLI) spin-off Ballard Mining will enjoy once it hits the ASX, given that it will hold the Mt Ida project that has an inferred and indicated resource of 10.3Mt grading 3.33g/t, or 1.1Moz of contained gold following a recent resource upgrade. The upgrade came after Delta let the market know about the gold prospectivity of Mt Ida, where an initially modest gold resource had been defined from its lithium-focused drilling, then supercharged by targeted gold drilling over the last 6 months. Managing director James Croser told Stockhead in a video interview in late May that the company decided to spend $5-6m in September 2024 to specifically target gold. This proved to be money well spent after it delivered a resource that exceeded the company's target of a million ounces – the magical point where potential project lenders sit up and take notice. While no doubt thrilled by the find, the company then decided on a spin-off as it felt the funds used for drilling for gold had originally been raised for lithium exploration and Delta needed to honour that lithium commitment. Croser said that while the gold was a wonderful distraction to have, it not desirable to utilise cash raised from lithium investors for the significant sums needed to test the large gold potential at Mt Ida. 'It will take … $25-30m to advance the Delta gold assets at Mt Ida and we decided the best way to do that was in a separate vehicle,' he noted. Golden credentials This led to the decision to spin-off Mt Ida into Ballard Mining, which will raise between $25m (minimum subscription) and $30m (maximum subscription) through an initial public offering priced at 25c per share to fund exploration. Delta shareholders will retain exposure to the gold asset as they will receive one fully paid Ballard share for every 11.25 Delta shares they own as part of the spin-out while Delta itself will hold between 46% and 49% of the new company depending on the take-up of the IPO. 'Ballard will be raising $30m and that'll be 100% dedicated to gold exploration growth and development at the Mt Ida gold asset and Delta gets to ride that wave. (We) will still be exposed via our shareholding in Ballard but we will be a pure lithium business,' Croser said. While this funding will allow the new gold company to go all out with exploration, the composition of its leadership is also headline-worthy. Chairing the board will be Simon Lill of De Grey Mining fame while Delta's chief development officer Paul Brennan will be leaving to take up the helm as Ballard's managing director. Lill oversaw De Grey from its beginnings as a gold minnow and through its explosive growth following discovery of the renowned Hemi asset and its eventual acquisition by Northern Star (ASX:NST), which wrapped up in May this year. Former Ramelius Resources (ASX:RMS) and Wildcat Resources (ASX:WC8) chief financial officer Tim Manners will also step down as a non-executive director of Delta to take up an executive position at Ballard to assist Brennan. 'Stuart Matthews used to be the executive vice president of Goldfields Australia, so he'll be a non-executive director. And I'll be there as a non-exec looking after Delta's interests,' Croser said. Gold resources at Mt Ida. Pic: Delta Lithium Watch: Perfect timing for a golden move at Mt Ida Expansion plans This team will oversee an ambitious work program that could deliver significant progress towards a final investment decision for Mt Ida, which covers some 250km2 of ground. 'Ballard's going to be a very exciting proposition with $30m to spend on the growth piece at Mount Ida,' Croser said. 'They'll be exploring the 26 kilometres of strike around the Copperfield Granite, which really hasn't had any serious gold exploration outside the Baldock area for decades, if ever. 'Everyone's been drilling holes around the Baldock deposit, and that's yielded 930,000 ounces. So a big portion of the use of funds will be looking to expand the gold resources and find another Baldock.' He added that infill drill at Baldock could underpin a pretty good mine reserve. Besides Baldock, the recent resource upgrade also increased resources at the Kestrel deposit to 53,000oz at 1.7g/t gold and defined maiden contained resources of 33,000oz, 40,000oz and 11,000oz for the Bombay, West Knell and Jupiter deposits. The regional drilling and infill work at Baldock will help complete metallurgical and geotechnical studies to a DFS level and progress the project towards FID. A works approval has already been submitted for a processing plant with capacity of up to 1.5Mtpa and associated tailings storage facility. On listing Ballard will also start the process of converting exploration leases into mining leases for regional resources. In-principle approval for the demerger has already been received from the ASX. Delta itself will be busy carrying out exploration at the newly expanded Yinnetharra lithium project following the acquisition of the adjacent Aston project that gives it a dominant position over the Thirty-Three supersuite granites, which are proven to be the source for the Malinda and Jameson deposits. This article was developed in collaboration with Delta Lithium, 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 Delta spin-off Ballard's star team and big gold inventory will be its key drivers
The Australian
15-05-2025
- Business
- The Australian
DLI spins out Mt Ida
Special report: Delta Lithium has entered into binding agreements to demerge its full interest in the Mt Ida project to Ballard Mining, pending shareholder and ASX approval. Delta's Mt Ida asset will be spun out via a demerger and concurrent IPO A new, standalone and gold focused ASX-lister will be formed, named Ballard Mining Delta will retain upside exposure to Ballard through a substantial equity holding in Ballard As part of the proposed spin-out, eligible Delta Lithium (ASX:DLI) shareholders will receive one fully paid Ballard share for every 11.25 Delta shares they own, retaining exposure to the Mt Ida asset through an in-specie distribution. Ballard intends to conduct an initial public offering, targeting a raise of $25-30 million at 25c per share, to facilitate its proposed admission to the ASX official list. Following the demerger and successful IPO, Delta will maintain a significant interest in Ballard— roughly 49% at the minimum raise, and 46% at the maximum. The spin out paves the way for DLI to continue focusing on its primary business, being the exploration and development of its lithium assets at Mt Ida and Yinnetharra in WA. Potential for a standalone mining operation The decision follows an update to the inferred and indicated resource at the Mt Ida asset, now totalling 10.3Mt at 3.33g/t gold for 1.1Moz, significantly increasing the project's gold inventory and demonstrating the presence of a large system. DLI said the update represented significant potential upside for future exploration across the 250km2 Mt Ida tenement package (including pending tenure) and another 1,300km2 for water exploration. In light of its scale and viability as a standalone mining operation, Delta determined it was the right move to spin off the asset, a decision which comes at a time when lithium prices are depressed but gold prices are near record highs at close to A$5000/oz. Delta will remain as a lithium focused exploration and development company and will retain Delta's balance sheet strength by maintaining a significant shareholding in Ballard post demerger. Upon successful ASX admission, Ballard will allocate IPO funds to accelerate exploration at Mt Ida, including regional drilling and infill work at Baldock, aimed at completing DFS studies and progressing toward a final investment decision. Ballard, named after Lake Ballard – a local landmark in WA's Shire of Menzies famed for hosting the Gormley sculptures – will hold the gold asset through its shareholding in Mt Ida AU Pty Ltd, which will be a wholly owned subsidiary of Ballard. 'Opportune time in the gold price cycle' DLI managing director James Croser believes that the separation of the lithium and gold assets will create greater value for shareholders of both Delta and Ballard by enabling direct participation in the growth of the gold asset through an independent vehicle. "Delta has been working diligently towards this outcome for some time, and we are delighted to be finally able to announce these details of the demerger and Ballard IPO,' he said. 'Re-setting the exciting and prospective Mt Ida gold asset into Ballard, a pure new gold company, at such an opportune time in the gold price cycle best positions Ballard to launch into early success, underpinned by a strong foundation of 1.1Moz gold and a new dedicated and specialised management team. 'Momentum is crucial to a new listing and the pricing of the gold asset is compelling with significant potential to create investor returns and shareholder value.' Forecasters continuing to tip higher levels for gold, despite a recent pullback from an apparent normalisation of trade relations between the US and China. By way of example, State Street Global Advisors says 'there is a strong tactical and strategic case to be made that the gold market has transitioned to a higher price regime north of US$3000/oz.' They've loaded up a new baseline floor price of US$3000-3100/oz, with a base case of US$3100-3500/oz for 2025. Their H2 bull case has been upgraded, with new projections ranging between US$3500 and US$3900 per ounce. Looking ahead If approved by shareholders, the demerger is expected to be completed by early July 2025. Ballard has secured a high-calibre and experienced team with extensive experience in mineral exploration, project development, mining and financing in the resources industry. The team includes a combination of existing Delta directors and new appointments, including two independent non-executive directors with suitable technical expertise. The Ballard board and senior management comprises previous De Grey (ASX:DEG) chairman Simon Lill as independent non-executive chairman, Paul Brennan as managing director and CEO and former Ramelius Resources (ASX:RMS) CFO Tim Manners as finance director. Proposed chairman Simon Lill said Delta has done an excellent job in preparing Ballard for a spin out on behalf of its shareholders through IPO. 'I was pleasantly surprised with the substantial exploration upside at the Mt Ida gold project,' he said. 'With multiple walk-up targets over a largely untested 16km of trend, the opportunity to find another Baldock with its 930,000oz at 4.1g/t Au is real with the potential to grow into a camp-scale endowment.' This article was developed in collaboration with Delta Lithium, 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.
