Latest news with #ColinRose
The Age
12-05-2025
- Business
- The Age
Marmota pumps the pedal on SA gold play
Uranium, titanium and gold explorer Marmota Limited will hit the fast lane with its flagship Gawler gold project in South Australia, after a trio of game-changing developments persuaded the company to put its foot on the gas at the project's near-surface bonanza-grade gold resource. Management says whilst its uranium and titanium projects will continue to advance, for now however, it will shift its focus sharply to gold at Gawler where it says it has the quickest opportunity to get into cashflow at a time of record gold prices. Key to this focus will be the company's Aurora Tank gold prospect, part of a vast 10,000 square kilometre gold hub held by Marmota in South Australia's revered Gawler Craton. The company's recent metallurgical results at Aurora Tank - unveiled two weeks ago - delivered exceptional 93 per cent gold recoveries using low-cost column leach testing, which confirmed the project's economic potential and has unlocked a quick route to its all-important first cashflows. 'The results of the metallurgical test work have been very positive for the project.' Marmota Limited chairman Dr Colin Rose The metallurgical program was designed and managed by US-based Kappes Cassiday and Associates with Australian Minmet Metallurgical Laboratories performing the test work, including 31 composites from 197 metres of drill core. Gold started leaching fast, with over 55 per cent extracted in just 10 days. After 59 days, tests on a moderately weathered sample hit the impressive 93 per cent recovery point using an 8mm crush. Marmota Limited chairman Dr Colin Rose said: ' It has been a long wait for the results of the metallurgical test work but the outcomes have been very positive for the project.' Exploration drilling at Aurora Tank has already picked up exceptional bonanza grades near surface.
Sydney Morning Herald
12-05-2025
- Business
- Sydney Morning Herald
Marmota pumps the pedal on SA gold play
Uranium, titanium and gold explorer Marmota Limited will hit the fast lane with its flagship Gawler gold project in South Australia, after a trio of game-changing developments persuaded the company to put its foot on the gas at the project's near-surface bonanza-grade gold resource. Management says whilst its uranium and titanium projects will continue to advance, for now however, it will shift its focus sharply to gold at Gawler where it says it has the quickest opportunity to get into cashflow at a time of record gold prices. Key to this focus will be the company's Aurora Tank gold prospect, part of a vast 10,000 square kilometre gold hub held by Marmota in South Australia's revered Gawler Craton. The company's recent metallurgical results at Aurora Tank - unveiled two weeks ago - delivered exceptional 93 per cent gold recoveries using low-cost column leach testing, which confirmed the project's economic potential and has unlocked a quick route to its all-important first cashflows. 'The results of the metallurgical test work have been very positive for the project.' Marmota Limited chairman Dr Colin Rose The metallurgical program was designed and managed by US-based Kappes Cassiday and Associates with Australian Minmet Metallurgical Laboratories performing the test work, including 31 composites from 197 metres of drill core. Gold started leaching fast, with over 55 per cent extracted in just 10 days. After 59 days, tests on a moderately weathered sample hit the impressive 93 per cent recovery point using an 8mm crush. Marmota Limited chairman Dr Colin Rose said: ' It has been a long wait for the results of the metallurgical test work but the outcomes have been very positive for the project.' Exploration drilling at Aurora Tank has already picked up exceptional bonanza grades near surface.
Yahoo
08-05-2025
- Business
- Yahoo
Marmota to divest West Melton copper project to G4 Metals
Marmota, a South Australian mining exploration company, has signed a binding heads of agreement with G4 Metals to divest its rights to the West Melton copper tenement exploration licence, known as EL6701, in a A$1m ($647,160) deal. The move aligns with G4's strategy to bolster its portfolio of copper-focused assets in South Australia. The agreement is contingent upon G4 conducting exploration activities in 2025 and an initial public offering (IPO) in 2026, subject to market conditions. Under the terms of the agreement, Marmota grants G4 an exclusive right to acquire the tenement as the latter advances towards its IPO. If G4 does not achieve a successful IPO by 31 December 2026, Marmota reserves the right to pull out from the agreement. G4 will issue shares to Marmota valued at A$1m, effective from the date of a successful IPO. Additionally, Marmota is entitled to performance payments in G4 scrip based on the discovery of significant copper resources within the tenement or G4's Yorke Peninsula tenements. The first payment of A$250,000 will be due upon declaring a JORC resource exceeding 50,000 tonnes (t) of copper, with a subsequent payment of A$250,000 upon declaring a resource surpassing 100,000t of copper. Prior to the transfer of the tenement, G4 has made a preliminary cash payment of A$5,000 to Marmota to cover tenement fees and administration costs. The transaction's completion is also subject to receiving the necessary ministerial approval. Marmota chairman Colin Rose said: 'This deal has been specially structured with G4 Metals – a company being set up to advance copper projects in South Australia – in such a way that Marmota's shareholders will continue to be exposed to the upside by taking a substantial stake in the new company. 'We look forward to working with G4 to finalise the sale, and to future success in developing these assets in a prime copper tenement, in an area with a proud history of copper mining.' "Marmota to divest West Melton copper project to G4 Metals" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 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
The Age
07-05-2025
- Business
- The Age
Marmota inks $1M deal to divest South Australian copper project
Marmota Limited has inked a $1 million deal to sell its West Melton copper tenement in South Australia's copper-rich Yorke Peninsula to G4 Metals, securing a cornerstone equity position in the copper-focused IPO hopeful while maintaining the company's exposure to the emerging copper province. The divestment of West Melton for $1M in G4 shares is contingent upon a G4 achieving a successful IPO capital raise before the end of next year. The deal includes potential performance payments to Marmota of up to $500,000 in shares tied to discovery milestones. West Melton sits adjacent to the Hillside copper project, which was formerly owned and developed by Rex Minerals. MACH Metals - a subsidiary of Indonesia's largest conglomerate Salim Group - bought Rex last year for $393 million. The all-cash takeover underscored the allure of the well-endowed Yorke Peninsula. The region has a widespread history of copper production and is expected to become South Australia's next copper production hub, as copper prices begin to soar. Hillside has a massive 1.9 million tonnes of copper and 1.5 million ounces of gold. 'This deal has been specially structured with G4 Metals... in such a way that Marmota's shareholders will continue to be exposed to the upside by taking a substantial stake in the new company.' Marmota Limited chairman Dr Colin Rose Marmota's all-scrip deal ensures shareholders retain a front-row seat to the region's copper potential while allowing the company to focus on its bevvy of South Australian opportunities, including the advanced Aurora Tank gold project and its recent Muckanippie titanium discovery. Marmota Limited chairman Dr Colin Rose said: ' This deal has been specially structured with G4 Metals - a company being set up to advance copper projects in South Australia - in such a way that Marmota's shareholders will continue to be exposed to the upside by taking a substantial stake in the new company. We look forward to working with G4 to finalise the sale and to future success in developing these assets in a prime copper tenement, in an area with a proud history of copper mining. ' If G4's IPO does not materialise before 2027, Marmota can walk away from the deal. Further sweetening the pot, Marmota will pocket $250,000 in shares if a JORC resource exceeding 50,000 tonnes of copper is declared at West Melton or G4's Yorke Peninsula tenements, with an additional $250,000 in shares for a resource surpassing 100,000t. Following Rex's takeover, MACH carried out a competitive global partnering search to fund Hillside's $843M development. Hillside's stage one reserves contain 505,000t of copper and 435,000 ounces of gold. MACH has expansion plans underway, driven by a gold price sitting some US$1000 (A$1540) per ounce higher than at the time of its acquisition.
Sydney Morning Herald
07-05-2025
- Business
- Sydney Morning Herald
Marmota inks $1M deal to divest South Australian copper project
Marmota Limited has inked a $1 million deal to sell its West Melton copper tenement in South Australia's copper-rich Yorke Peninsula to G4 Metals, securing a cornerstone equity position in the copper-focused IPO hopeful while maintaining the company's exposure to the emerging copper province. The divestment of West Melton for $1M in G4 shares is contingent upon a G4 achieving a successful IPO capital raise before the end of next year. The deal includes potential performance payments to Marmota of up to $500,000 in shares tied to discovery milestones. West Melton sits adjacent to the Hillside copper project, which was formerly owned and developed by Rex Minerals. MACH Metals - a subsidiary of Indonesia's largest conglomerate Salim Group - bought Rex last year for $393 million. The all-cash takeover underscored the allure of the well-endowed Yorke Peninsula. The region has a widespread history of copper production and is expected to become South Australia's next copper production hub, as copper prices begin to soar. Hillside has a massive 1.9 million tonnes of copper and 1.5 million ounces of gold. 'This deal has been specially structured with G4 Metals... in such a way that Marmota's shareholders will continue to be exposed to the upside by taking a substantial stake in the new company.' Marmota Limited chairman Dr Colin Rose Marmota's all-scrip deal ensures shareholders retain a front-row seat to the region's copper potential while allowing the company to focus on its bevvy of South Australian opportunities, including the advanced Aurora Tank gold project and its recent Muckanippie titanium discovery. Marmota Limited chairman Dr Colin Rose said: ' This deal has been specially structured with G4 Metals - a company being set up to advance copper projects in South Australia - in such a way that Marmota's shareholders will continue to be exposed to the upside by taking a substantial stake in the new company. We look forward to working with G4 to finalise the sale and to future success in developing these assets in a prime copper tenement, in an area with a proud history of copper mining. ' If G4's IPO does not materialise before 2027, Marmota can walk away from the deal. Further sweetening the pot, Marmota will pocket $250,000 in shares if a JORC resource exceeding 50,000 tonnes of copper is declared at West Melton or G4's Yorke Peninsula tenements, with an additional $250,000 in shares for a resource surpassing 100,000t. Following Rex's takeover, MACH carried out a competitive global partnering search to fund Hillside's $843M development. Hillside's stage one reserves contain 505,000t of copper and 435,000 ounces of gold. MACH has expansion plans underway, driven by a gold price sitting some US$1000 (A$1540) per ounce higher than at the time of its acquisition.
