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West Australian
27-05-2025
- Business
- West Australian
Hastings heads down multi-commodity road with WA gold grab
Hastings Technology Metals has nabbed a promising Western Australian gold project, pushing along the company's plans to diversify into other commodities. The acquisition adds to Hastings' rare earths, gold and niobium portfolio, which includes its flagship Yangibana rare earths project. Hastings has signed a binding agreement to acquire all the shares in private firm Great Western Gold, which has an option and agreements to scoop up interests in the Whiteheads gold project held by several ASX-listed companies. The tenement package comprises 14 licences across 380 square kilometres, 80km northeast of Kalgoorlie, and will amalgamate and consolidate leases in an overlooked Goldfields area crying out for new managers to throw time and funding its way. Hastings will acquire the Whiteheads package via Great Western Gold's option to purchase a 75 per cent stake in nine exploration licences and a prospecting licence held by Great Boulder Resources. These licences are held in joint venture with private company Zebina Minerals. Great Western Gold has also reached an agreement to grab three remaining exploration licences and one mining lease from a mix of interests held by Great Boulder, Mithril Resources and Aberdeen Mining. Hastings will hold all of the three licences and the lease. Hastings will be able to lay its hands on a significant volume of historic data to instigate an extensive and systematic exploration program to outline a maiden JORC resource at Whiteheads. The company anticipates the estimate will be reveal-ready later this year. Andrew Forrest's Wyloo recently struck a deal with Hastings, in which Wyloo will pick up 60 per cent of Hastings' imposing Yangibana rare earths project, which also contains the coveted mineral niobium. Yangibana is 270km east-northeast of Carnarvon in WA's Gascoyne region. The Whiteheads project is in the gold-rich Eastern Goldfields and hosts several high-priority, drill-ready targets, including Blue Poles, Seven Leaders and Lady Betty. An estimated 10,000 metres of historical drilling, soil sampling, gravity surveys and geochemical programs have been completed across the project's ground. Whiteheads is considered an advanced gold project. It is close to existing gold processing facilities with a total processing capacity of more than 9 million tonnes per annum, established infrastructure, a well-maintained road network and other mines, such as Northern Star Resources' Kanowna Belle mine. Kanowna Bell is 40km south of Whiteheads and produced 166,000 ounces of gold in the past financial year. It has a processing plant with a 2Mtpa processing capacity. The purchase cost of $370,000 in cash and 3 million Hastings shares, valued today at 32.5 cents each for a share value of $975,000, could be considered a modest upfront sum at $1.345M in total if the company can quickly prove up a worthwhile resource. Hastings will pay an additional deferred sum up to $800,000 upon reporting certain mineral resource milestones, above minimum cut-off grades. Hastings expects to begin its due diligence and to start drafting the relevant paperwork to complete the purchase in the coming weeks. After it completes the acquisition, the company plans to launch into initial air core and reverse circulation drilling programs to test for extensions and infill key prospect areas at Blue Pole, Lady Betty and Seven Leaders. It will undertake soil and geochemistry programs across the entire project, conduct scoping studies and baseline environmental assessments, and assess the project's mining potential using nearby third-party processing options. The deal with Wyloo encouragingly resulted in Hastings shedding about $220M debt owed to Wyloo, which was becoming a burden to the company. That debt was created when Wyloo provided an exchangeable note to Hastings so it could pick up 21.5 per cent of Canadian rare earths magnet manufacturer Neo Performance Materials. Those shares have since dropped in value after the sharp decline in global rare earths prices. About $80M of the debt was paid down back in February when Hastings transferred the bulk of its shares in Neo to Wyloo. Under the terms of the now completed deal, Wyloo and Hastings have formed a 60:40 joint venture, with Wyloo assuming operatorship of Yangibana, which is considered one of the most advanced unmined rare earths projects globally in terms of spent capital. Wyloo retains an option to increase its stake to 70 per cent for at least an additional $20M. Hastings sees Whiteheads as a low-cost entry to a well-understood gold exploration opportunity, with plenty of upside potential, drill targets at the ready and other untested anomalies near surface. The company's latest decision to spread its wings across a diverse commodity base is part of its growth trajectory plans and could pay big dividends, as the gold price continues its gangbuster run, hovering near US$3330 (A$5145) per ounce. Is your ASX-listed company doing something interesting? Contact:
The Age
27-05-2025
- Business
- The Age
Hastings heads down multi-commodity road with WA gold grab
Hastings Technology Metals has nabbed a promising Western Australian gold project, pushing along the company's plans to diversify into other commodities. The acquisition adds to Hastings' rare earths, gold and niobium portfolio, which includes its flagship Yangibana rare earths project. Hastings has signed a binding agreement to acquire all the shares in private firm Great Western Gold, which has an option and agreements to scoop up interests in the Whiteheads gold project held by several ASX-listed companies. The tenement package comprises 14 licences across 380 square kilometres, 80km northeast of Kalgoorlie, and will amalgamate and consolidate leases in an overlooked Goldfields area crying out for new managers to throw time and funding its way. Hastings will acquire the Whiteheads package via Great Western Gold's option to purchase a 75 per cent stake in nine exploration licences and a prospecting licence held by Great Boulder Resources. These licences are held in joint venture with private company Zebina Minerals. Great Western Gold has also reached an agreement to grab three remaining exploration licences and one mining lease from a mix of interests held by Great Boulder, Mithril Resources and Aberdeen Mining. Hastings will hold all of the three licences and the lease. 'This acquisition is the next step in Hastings' growth trajectory.' Hastings Technology Metals executive chairman Charles Lew Hastings will be able to lay its hands on a significant volume of historic data to instigate an extensive and systematic exploration program to outline a maiden JORC resource at Whiteheads. The company anticipates the estimate will be reveal-ready later this year. Andrew Forrest's Wyloo recently struck a deal with Hastings, in which Wyloo will pick up 60 per cent of Hastings' imposing Yangibana rare earths project, which also contains the coveted mineral niobium. Yangibana is 270km east-northeast of Carnarvon in WA's Gascoyne region. Hastings Technology Metals executive chairman Charles Lew said: 'This acquisition is the next step in Hastings' growth trajectory following the successful creation of the Yangibana joint venture in partnership with Wyloo. The Whiteheads project provides Hastings with a low-cost entry to a well-understood gold exploration opportunity with significant upside potential.'
Sydney Morning Herald
27-05-2025
- Business
- Sydney Morning Herald
Hastings heads down multi-commodity road with WA gold grab
Hastings Technology Metals has nabbed a promising Western Australian gold project, pushing along the company's plans to diversify into other commodities. The acquisition adds to Hastings' rare earths, gold and niobium portfolio, which includes its flagship Yangibana rare earths project. Hastings has signed a binding agreement to acquire all the shares in private firm Great Western Gold, which has an option and agreements to scoop up interests in the Whiteheads gold project held by several ASX-listed companies. The tenement package comprises 14 licences across 380 square kilometres, 80km northeast of Kalgoorlie, and will amalgamate and consolidate leases in an overlooked Goldfields area crying out for new managers to throw time and funding its way. Hastings will acquire the Whiteheads package via Great Western Gold's option to purchase a 75 per cent stake in nine exploration licences and a prospecting licence held by Great Boulder Resources. These licences are held in joint venture with private company Zebina Minerals. Great Western Gold has also reached an agreement to grab three remaining exploration licences and one mining lease from a mix of interests held by Great Boulder, Mithril Resources and Aberdeen Mining. Hastings will hold all of the three licences and the lease. 'This acquisition is the next step in Hastings' growth trajectory.' Hastings Technology Metals executive chairman Charles Lew Hastings will be able to lay its hands on a significant volume of historic data to instigate an extensive and systematic exploration program to outline a maiden JORC resource at Whiteheads. The company anticipates the estimate will be reveal-ready later this year. Andrew Forrest's Wyloo recently struck a deal with Hastings, in which Wyloo will pick up 60 per cent of Hastings' imposing Yangibana rare earths project, which also contains the coveted mineral niobium. Yangibana is 270km east-northeast of Carnarvon in WA's Gascoyne region. Hastings Technology Metals executive chairman Charles Lew said: 'This acquisition is the next step in Hastings' growth trajectory following the successful creation of the Yangibana joint venture in partnership with Wyloo. The Whiteheads project provides Hastings with a low-cost entry to a well-understood gold exploration opportunity with significant upside potential.'
Yahoo
22-05-2025
- Business
- Yahoo
Besra Gold Announces Market Update
Clarification of Quantum Presentation Melbourne, Victoria--(Newsfile Corp. - May 22, 2025) - Besra Gold Inc. (ASX: BEZ) ("Besra" or the "Company") is aware of certain information related to Besra and its business that was provided as part of a presentation (the Unauthorised Presentation) made on behalf of Quantum Metal Bullion Pty Ltd (Quantum Metal). Quantum Metal is a company associated with Dato Lim Khong Soon, a director of Besra. The Unauthorised Presentation, which the Company is aware has been presented several times online, contains: (a) Besra's logo. (b) Photos of Besra's Malaysian office. (c) photos taken at Besra's Bau Project. (d) A statement that incorrectly names Dato Lim Khong Soon as Besra's Executive Chairman; and (d) a photograph of the head of the Company's development team, which the presenter incorrectly stated was Besra's Managing Director. The presenter also falsely claimed that this individual "personally confirmed" all of the Unauthorised Presentation's information with respect to Besra. The Unauthorised Presentation was neither authorised by, nor prepared with the permission of, Besra or any of its employees. Besra does not endorse the Unauthorised Presentation or any of the statements or offers made therein. The Unauthorised Presentation contains a number of factual inaccuracies and misleading statements with respect to Besra and its operations, including a claim that "we've uncovered a gold deposit with" a substantially overstated quantity of millions of ounces of gold that "is being explored and mined by Besra Gold" and then proceeds to quote a dramatically inflated quantity of "Proven Gold Reserves". The Unauthorised Presentation also misrepresents Besra, several times, as a "mining company" with a gold supply that "…is more secure and reliable than many others in the market." These statements are not factually accurate. Besra does not have any ongoing mining operations, nor does it give any guarantee that mining operations will be developed. Accordingly, shareholders and investors should not rely on the information presented by Quantum Metal concerning Besra and its operations. The Company has established a JORC compliant mineral resource within the area covered by the Jugan Gold Project of approximately 13.5 million tonnes @ 1.7 g/t Au for 721k oz Au comprising: Measured: 3.87Mt at 1.68g/t Au for 209k oz Au; Indicated: 8.32Mt at 1.62g/t Au for 434k oz Au; and Inferred: 1.28Mt at 1.90g/t Au for 78k oz Au. The Company has also established a JORC compliant mineral resource within the entire Bau Project area of approximately 57 million tonnes @ 1.4 g/t Au for 2.6 Moz Au comprising: Measured: 3.87Mt at 1.68g/t Au for 209k oz Au; Indicated: 10.20 Mt at 1.69 g/t Au for 555k oz Au; and Inferred: 43.30Mt at 1.27g/t Au for 1,843k oz Au. The Company cannot guarantee that it will ever obtain physical gold from this resource and accordingly Besra cautions against purchasing any securities or other investment products purported to be backed by physical gold obtained from Besra. Gold Contract Note Device The Unauthorised Video includes an offer to purchase from Quantum Metal a "gold contract note device", which is said to provide "the opportunity to buy gold at a more favourable price", and the Unauthorised Video indicates that with each such purchase, Quantum Metal "will be giving away 1000 units of shares from a gold mining company listed on the Australian Securities Exchange" (the Bonus Share Offer). The Company wishes to confirm that it has not issued or made any offer of securities in connection with the Bonus Share Offer, and the Company does not endorse and is not a party to the Bonus Share Offer. Accordingly, shareholders and investors should not rely on the information presented by Quantum Metal concerning Besra and its operations. Board Action Besra's Board and management has made repeated efforts to refrain and prevent Quantum Metal (including Dato Lim Khong Soon) from making unauthorised and misleading statements about Besra and its operations. Despite these efforts, Quantum Metal proceeded to publish and present inaccurate and misleading statements, including the matters referred to in this announcement. In an effort to remedy the ongoing non-compliance and in accordance with ASX Corporate Governance Recommendation 2.5, Dato Lim agreed on 14 February 2025 to step aside as Chair of Besra. Subsequently, on 25 February 2025, the Board resolved to call a special meeting of shareholders for the purpose of removing Dato Lim Khong Soon as a director of Besra. The special meeting will be held in Sydney on 24 June 2025 (at 11:30 a.m. EST), and the meeting documents will be dispatched to shareholders on or around 30 May 2025. The Company confirms that it complies with ASX Listing Rule 3.1. This announcement was authorised for release by Mr David Potter - Non-Executive Chair Michael Higginson, Company Secretary North American Contact:James HamiltonM +1-416-471-4494E jim@ The information in this announcement that relates to estimates of Mineral Resources has been extracted from the ASX release titled "Jugan Project Mineral Resource Update" dated 31 March 2025, and the ASX release titled "Management's Discussion & Analysis (31 March 2025)" dated 16th May 2025 available at . For the purposes of ASX Listing Rule 5.23, the Company confirms that it is not aware of any new information or data that materially affects the information related to the Bau Project Resources and that all material assumptions and technical parameters underpinning the estimates in the Resource Statement continue to apply and have not materially changed. To view the source version of this press release, please visit 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
Yahoo
22-05-2025
- Business
- Yahoo
Besra Gold Announces Market Update
Clarification of Quantum Presentation Melbourne, Victoria--(Newsfile Corp. - May 22, 2025) - Besra Gold Inc. (ASX: BEZ) ("Besra" or the "Company") is aware of certain information related to Besra and its business that was provided as part of a presentation (the Unauthorised Presentation) made on behalf of Quantum Metal Bullion Pty Ltd (Quantum Metal). Quantum Metal is a company associated with Dato Lim Khong Soon, a director of Besra. The Unauthorised Presentation, which the Company is aware has been presented several times online, contains: (a) Besra's logo. (b) Photos of Besra's Malaysian office. (c) photos taken at Besra's Bau Project. (d) A statement that incorrectly names Dato Lim Khong Soon as Besra's Executive Chairman; and (d) a photograph of the head of the Company's development team, which the presenter incorrectly stated was Besra's Managing Director. The presenter also falsely claimed that this individual "personally confirmed" all of the Unauthorised Presentation's information with respect to Besra. The Unauthorised Presentation was neither authorised by, nor prepared with the permission of, Besra or any of its employees. Besra does not endorse the Unauthorised Presentation or any of the statements or offers made therein. The Unauthorised Presentation contains a number of factual inaccuracies and misleading statements with respect to Besra and its operations, including a claim that "we've uncovered a gold deposit with" a substantially overstated quantity of millions of ounces of gold that "is being explored and mined by Besra Gold" and then proceeds to quote a dramatically inflated quantity of "Proven Gold Reserves". The Unauthorised Presentation also misrepresents Besra, several times, as a "mining company" with a gold supply that "…is more secure and reliable than many others in the market." These statements are not factually accurate. Besra does not have any ongoing mining operations, nor does it give any guarantee that mining operations will be developed. Accordingly, shareholders and investors should not rely on the information presented by Quantum Metal concerning Besra and its operations. The Company has established a JORC compliant mineral resource within the area covered by the Jugan Gold Project of approximately 13.5 million tonnes @ 1.7 g/t Au for 721k oz Au comprising: Measured: 3.87Mt at 1.68g/t Au for 209k oz Au; Indicated: 8.32Mt at 1.62g/t Au for 434k oz Au; and Inferred: 1.28Mt at 1.90g/t Au for 78k oz Au. The Company has also established a JORC compliant mineral resource within the entire Bau Project area of approximately 57 million tonnes @ 1.4 g/t Au for 2.6 Moz Au comprising: Measured: 3.87Mt at 1.68g/t Au for 209k oz Au; Indicated: 10.20 Mt at 1.69 g/t Au for 555k oz Au; and Inferred: 43.30Mt at 1.27g/t Au for 1,843k oz Au. The Company cannot guarantee that it will ever obtain physical gold from this resource and accordingly Besra cautions against purchasing any securities or other investment products purported to be backed by physical gold obtained from Besra. Gold Contract Note Device The Unauthorised Video includes an offer to purchase from Quantum Metal a "gold contract note device", which is said to provide "the opportunity to buy gold at a more favourable price", and the Unauthorised Video indicates that with each such purchase, Quantum Metal "will be giving away 1000 units of shares from a gold mining company listed on the Australian Securities Exchange" (the Bonus Share Offer). The Company wishes to confirm that it has not issued or made any offer of securities in connection with the Bonus Share Offer, and the Company does not endorse and is not a party to the Bonus Share Offer. Accordingly, shareholders and investors should not rely on the information presented by Quantum Metal concerning Besra and its operations. Board Action Besra's Board and management has made repeated efforts to refrain and prevent Quantum Metal (including Dato Lim Khong Soon) from making unauthorised and misleading statements about Besra and its operations. Despite these efforts, Quantum Metal proceeded to publish and present inaccurate and misleading statements, including the matters referred to in this announcement. In an effort to remedy the ongoing non-compliance and in accordance with ASX Corporate Governance Recommendation 2.5, Dato Lim agreed on 14 February 2025 to step aside as Chair of Besra. Subsequently, on 25 February 2025, the Board resolved to call a special meeting of shareholders for the purpose of removing Dato Lim Khong Soon as a director of Besra. The special meeting will be held in Sydney on 24 June 2025 (at 11:30 a.m. EST), and the meeting documents will be dispatched to shareholders on or around 30 May 2025. The Company confirms that it complies with ASX Listing Rule 3.1. This announcement was authorised for release by Mr David Potter - Non-Executive Chair Michael Higginson, Company Secretary North American Contact:James HamiltonM +1-416-471-4494E jim@ The information in this announcement that relates to estimates of Mineral Resources has been extracted from the ASX release titled "Jugan Project Mineral Resource Update" dated 31 March 2025, and the ASX release titled "Management's Discussion & Analysis (31 March 2025)" dated 16th May 2025 available at . For the purposes of ASX Listing Rule 5.23, the Company confirms that it is not aware of any new information or data that materially affects the information related to the Bau Project Resources and that all material assumptions and technical parameters underpinning the estimates in the Resource Statement continue to apply and have not materially changed. To view the source version of this press release, please visit Sign in to access your portfolio
