Latest news with #FiretailResources
Yahoo
4 days ago
- Business
- Yahoo
Firetail secures options to buy two gold projects in US
Australian exploration company Firetail Resources has entered into two separate binding option agreements with Athena Gold and Badlands Resources to acquire two high-grade projects in prolific gold-producing regions in the US. Under the deals, Firetail will acquire 80% of the Excelsior project in Nevada and 100% of the Bella project in South Dakota, US, respectively. The Excelsior Springs project within Nevada's Walker Lane Trend has produced more than 40 million ounces (moz) of gold, with the Buster Mine yielding more than 19,000oz at 41 grams per tonne. The trend is home to a variety of gold mines at different stages, including existing operations and those under development, such as the AngloGold Ashanti Silicon/Merlin Project, Kinross Gold's Round Mountain Mine and the Comstock Project. Firetail Resources has committed to spending $5m (A$7.71m) over five years to earn its 80% interest in Excelsior, with Athena retaining a 20% free-carried interest until a definitive feasibility study is completed. The commercial terms for the Excelsior Springs project include an exclusivity fee of A$50,000, cash consideration of A$200,000, an issue of 32 million fully paid ordinary shares and a 1% net smelter royalty (NSR) to Athena Gold on ground without pre-existing royalties. The agreement is subject to shareholder approval and a formal joint venture agreement, with completion expected by 7 August 2025. The Bella project is within the Homestake Gold Belt, known for hosting approximately 85moz of gold. For the Bella project, Firetail has paid an exclusivity fee of C$100,000 ($72,777.6) and will pay a cash consideration of C$600,000, along with issuing 17 million fully paid ordinary shares. A 1% NSR royalty is granted to Badlands Resources, which can be repurchased by Firetail Resources within five years post the commencement of commercial production for C$500,000. Upon completion of both transactions and the issue of deferred York Harbour Consideration Shares, Firetail will have a total of approximately 504 million shares on issue. Firetail managing director Glenn Poole said: 'The acquisition of such high-calibre gold assets will complement our current portfolio and leverages off the board's strengths, enabling us to diversify our exposure to the prevailing strong gold and copper prices. The Excelsior Springs Project represents an advanced, drill-proven opportunity with gold from surface, and the mineralisation remaining open in all directions with the potential to deliver an expedited resource – reinforced by the presence of further historic mines within the mineral claim that highlight the potential precious metal endowment of the area. 'The Bella Project sits in the shadow of a giant, with the Homestake mine being one of the most notable in modern history. The evidence we see on the ground – of extensive mineralisation-hosting Banded Iron Formation and multiple, significant grades occurring across the wider project area is highly encouraging. The opportunity to follow up on multiple, extensive, historically producing trends that have not been drilled in the modern era in a district known for its size and scale is hugely exciting.' In September 2024, Firetail met the conditions of an option agreement to earn interest in York Harbour Metals' Newfoundland copper-zinc-silver project. "Firetail secures options to buy two gold projects in US" 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. Sign in to access your portfolio
News.com.au
5 days ago
- Business
- News.com.au
Resources Top 5: Firetail heats up, lifting gold exposure with US tier-1 acquisitions
Firetail has signed an option to acquire gold projects in tier-1 jurisdictions in the US A 400kg bulk sample from Jupiter deposit in WA has been sent to the Centre of Science and Technology of Minerals and Environment in Vietnam. Trigg Minerals reached a three-year high as it steps up quest for critical mineral antimony in the US Your standout resources stocks for Monday, June 2, 2025 At a time of strong gold prices, Firetail Resources will increase its exposure to the yellow metal through an option to acquire two high-grade gold projects in tier-1 jurisdictions in the US. Acquiring 80% of the Excelsior Springs project in Nevada and 100% of the Bella project in South Dakota will complement the company's flagship Skyline copper project in Newfoundland, Canada, and the Picha copper-silver play In Peru. Investors have greeted the news enthusiastically, sending share prices as much as 36.67% higher to 8.2c with almost 40m changing hands. Both gold projects have potential to stand on their own merits with Excelsior Springs sitting within the >40Moz Walker Lane Tectonic Zone and with historical production of 19,200oz at 41g/t gold from shallow underground workings. Bella lies within the world-class Homestake Gold Belt with a gold endowment of ~85Moz and is just 20km along trend from the Homestake mine which has produced ~42Moz. 'The acquisition of such high-calibre gold assets will complement our current portfolio and leverages off the board's strengths, enabling us to diversify our exposure to the prevailing strong gold and copper prices,' FTL managing director Glenn Poole said. FTL has the option to earn up to 80% in Excelsior Springs by paying the vendor an initial consideration of $200,000 in cash and 32m FTL shares along with a commitment to spend US$5m over a five-year period while for Bella, the company is paying the vendor $600,000 in cash and 17 million FTL shares with no work commitment. Non-executive director Simon Lawson, who is also executive chairman of gold developer Spartan Resources, said securing gold assets of this quality in two of the premier gold belts in North America was a major coup for Firetail. 'From my recent experience at Spartan Resources, the opportunity to discover high-grade ounces close to high-quality infrastructure can be a major value driver for a junior resources company – and both of these projects offer that opportunity in spades,' he added. Besides the historical production, drilling at Excelsior Springs also defined a gold mineralised zone striking >3km with a width of 200-400m across an east-west trend. Notable results include: 51.8m grading 4g/t gold from a down-hole depth of 39.6m including 6.1m at 16.3g/t from 42.7m; 33.5m at 5.35g/t gold from 41.2m including 10.7m at 15.99g/t from 41.2m; and 32m at 2.45g/t gold from 44.2m including 6.1m at 10g/t from 45.7m. Bella covers 110km of mapped banded iron formation with high-grade potential as evidenced by multiple >100g/t gold rock chip samples, similar to the main gold host at the Homestake mine. Drilling at the historical Standby Mine returned results topping up at a massive 12.2m at 46.62g/t gold including 1.5m at 343g/t. Channel sampling across the wider project returned multiple significant results such as 15m at 16g/t gold at the King of the West target, 10.7m at 13.3g/t (Yellow Bird), 29m at 11.3g/t (Gold King Mine) and 10.7m at 15g/t (Charter Oak Mine). 'The Excelsior Springs Project represents an advanced, drill-proven opportunity with gold from surface, and the mineralisation remaining open in all directions with the potential to deliver an expedited resource – reinforced by the presence of further historic mines within the mineral claim that highlight the potential precious metal endowment of the area,' Poole said. 'The Bella project sits in the shadow of a giant, with the Homestake mine being one of the most notable in modern history. 'The evidence we see on the ground – of extensive mineralisation-hosting Banded Iron Formation and multiple, significant grades occurring across the wider project area is highly encouraging. 'The opportunity to follow up on multiple, extensive, historically producing trends that have not been drilled in the modern era in a district known for its size and scale is hugely exciting.' On completing the option to acquire Excelsior Springs, FTL plans to carry out an extensional RC drill program to define width and grade of mineralisation along the prospective strike. Recent rock chip sampling returned assays of up to 6630g/t silver towards the eastern extent of the project area suggesting that a parallel structural trend supports a wider precious metal opportunity around the Blue Dick Mine in an area which is yet to be drill tested. At Bella, the company will carry out detailed mapping, sampling and geological modelling on completion of the acquisition aimed at improving the understanding of potential targets identified from geophysical surveys and historical mining records. Critica (ASX:CRI) (Up on no news) One of the strongest performers among junior resources stocks was rare earths explorer Critica, which jumped 76.92% to 2.3c with more than 129m changing hands. It follows the company last week revealing that it has sent a 400 kg bulk sample from the Jupiter deposit in WA to the Centre of Science and Technology of Minerals and Environment (CSTME) in Vietnam. This decision followed successful initial beneficiation work that achieved a better than 9x rare earth element (REE) upgrade. CSTME will use the bulk sample to refine the beneficiation processes and produce material for initial leach test work. The realisation of a 64% iron by-product via Wet Low Intensity Magnetic Separation, as part of the REE beneficiation process in CSTME's initial test work, also demonstrates the potential for by-product opportunities from Jupiter. Critica will continue to assess and refine these opportunities as part of the REE bulk sample test programs. The company also continues to receive support from Curtin University's Resources Technology and Critical Minerals Trailblazer program. Under this scheme, the company will submit a second bulk sample to the WA School of Mines at Curtin University to produce additional beneficiated material for future leach testwork. The Jupiter deposit includes more than 280,000 tonnes of contained heavy rare earth elements and the company is committed to work focusing on the key HREE zones. It is already Australia's largest and highest grade clay hosted rare earth deposit and is expected to see further resource growth as reconnaissance drilling tests numerous satellite targets within the province-scale Brothers REE project. Jupiter deposit in the Yalgoo area of Western Australia about 250km east of Geraldton benefits from existing mining precinct infrastructure, including proximity to the sealed Geraldton-Mount Magnet highway and the mid-west gas pipeline. The project, which contains low levels of thorium and uranium, is close to rare earth processing facilities, such as Lynas Rare Earths' concentrator at Mount Weld and Iluka Resources' planned facility at Eneabba. The initial discovery was announced in late 2023 and comprises clay-hosted rare earth mineralisation. In February 2025, Critica announced a global inferred resource of 1.8Bt at 1,700 ppm, including 520Mt at 2,200ppm total rare earth oxides. It contains 682,000t of magnet rare earth oxides (MREO) within the global resource. Rare earth export controls were announced in early April 2025 by China as a response to the US tariff trade war, with new controls targeting seven REEs including the HREEs which Jupiter contains. Trigg Minerals (ASX:TMG) (Up on no news) As it steps up the quest for critical mineral antimony in the US, Trigg Minerals reached a new three-year high of 10.25c, up 26.55% on the previous close on volume of more than 67m. The company is focused on the Antimony Canyon project in Utah with the intention of becoming a mainstay in the US critical minerals supply chain. A US-based exploration team has been mobilised to the site with maiden exploration to target several high-priority areas within and beyond the existing resource at Antimony Canyon. The area contains several historical mines, including Emma-Albion, Mammoth, Stebinite, Gem, Pluto and more. Trigg will assess potential of the historically productive antimony mines, which have had no modern exploration and very limited investigation along strike and at depth. The company sees an opportunity to define a materially larger resource using contemporary exploration methods. Alongside exploration, potential sites will also be assessed for the development of a smelter, as Trigg looks to secure its place in the US antimony supply chain. Antimony Canyon previously played a major role in securing domestic antimony during periods of conflict and Trigg plans to become a vertically integrated and dependable supplier of the mineral to the USA and greater western economy. Locksley Resources (ASX:LKY) (Up on no news) Locksley Resources was a stellar performer on the ASX during May, climbing from 1.8c on May 1, to 11.75c on the first day of training in June, a new high of almost three years. This was also an increase of 46.88% on the previous close with more than 57m changing hands. The primary catalyst for the most recent gain was a strongly supported placement with 36.67 million shares issued at 4c each to sophisticated and institutional investors resulting in $1.47m. Funds will be used to fund upcoming exploration, including drilling, at the Mojave rare earths and antimony project in California. The company's exploration team is mobilising to site to confirm priority targets and prepare for drilling to start. It will confirm and peg drill collar locations and access routes while the company waits for Bureau of Land Management approvals to be granted. Activities also include access routes and the engagement of earthworks and drill contractors to complete the drilling program. In addition, the team will conduct follow-up mapping and rock chip sampling across high-priority antimony, REE, polymetallic and copper targets. Further activities will include refining geophysical targets, additional surface sampling for geochemistry and structural mapping, and starting petrological studies to inform future metallurgical testing. Drilling is expected to begin in the September quarter and will focus on the El Campo prospect where six holes will be drilled to test TREO of up to 12.1% and the Desert Antimony Mine with three holes testing high-grade antimony mineralisation of up to 46%. Dateline Resources (ASX:DTR) Also having a strong month, rising from 0.9c on May 1 to 17c on June 2, was Dateline Resources, and the latest rise was a 75.26% jump on the previous close with more than 219m shares changing hands The latest rise was prompted by the start of a geochemistry and geophysics program at the Colosseum gold and rare earths project in California, USA, targeting new breccia pipes and REE bearing fenites. This comes after recent fieldwork and data reviews expanded the geological understanding of the Colosseum deposit, which is less than 10km north of the Mountain Rare Earth mine. A multi-pronged exploration program is being launched to 'stack the evidence' from geology, geochemistry and geophysics for drill targeting. A grid-based soil and rock sampling program will begin in mid-June 2025, spanning about four weeks while the company has engaged a geophysics firm to complete a magnetotelluric survey to aid in drill hole targeting. Dateline is finalising the design of a dedicated rare earths drilling program and will subsequently factor in additional evidence collected from the geochemistry and geophysics program. In June 2024, the company announced that Colosseum has a JORC-2012 compliant mineral resource of 27.1Mt at 1.26g/t Au for 1.1Moz. The existence of a viable gold system at Colosseum provides a strong foundation to pursue REE exploration with greater confidence.
Yahoo
17-02-2025
- Business
- Yahoo
Pleasing Signs As A Number Of Insiders Buy Firetail Resources Stock
When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in Firetail Resources Limited's (ASX:FTL) instance, it's good news for shareholders. While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing. See our latest analysis for Firetail Resources In the last twelve months, the biggest single purchase by an insider was when insider Brett Grosvenor bought AU$80k worth of shares at a price of AU$0.04 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of AU$0.063. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price. While Firetail Resources insiders bought shares during the last year, they didn't sell. The average buy price was around AU$0.047. We don't deny that it is nice to see insiders buying stock in the company. However, you should keep in mind that they bought when the share price was meaningfully below today's levels. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! Firetail Resources is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket. I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 9.6% of Firetail Resources shares, worth about AU$2.0m, according to our data. But they may have an indirect interest through a corporate structure that we haven't picked up on. Overall, this level of ownership isn't that impressive, but it's certainly better than nothing! There haven't been any insider transactions in the last three months -- that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. While we have no worries about the insider transactions, we'd be more comfortable if they owned more Firetail Resources stock. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Our analysis shows 4 warning signs for Firetail Resources (2 are a bit unpleasant!) and we strongly recommend you look at these before investing. Of course Firetail Resources may not be the best stock to buy. So you may wish to see this free collection of high quality companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
