Latest news with #MarkCreasy
West Australian
6 days ago
- Business
- West Australian
Big copper target lurking for Southern Hemisphere, FMR
Southern Hemisphere Mining and JV partner FMR Resources say that reprocessed geophysics at their Llahuin's Curiosity–Southern porphyry at the Llahuin Copper‑gold‑moly project in Chile might have a copper tiger by the tail. The JV partners say the reprocessed geophysical reinterpretation blending MT, IP, and magnetic survey data with field mapping and historic drill-logging is showing all the potential hallmarks of a big copper porphyry target lurking at depth. The latest geophysical advancement builds on Southern Hemisphere and FMR's recent resource uplift to 218 Mt at 0.38 per cent copper equivalent, containing approximately 496,600 tonnes of copper, 654,000 ounces of gold, and 12,500 tonnes of molybdenum. That figure is backed up by a further 260–340 million tonne exploration target across the Llahuin domain. Llahuin sits in Chile's copper heartland of Coquimbo, roughly 350km north of Santiago with power, roads, and logistics already in play. Southern Hemisphere's field teams, together with FMR, flagged argillic alteration, silicification, quartz veining, and oxide-after-sulphide textures at surface, all hallmarks of a porphyry system right above the newly mapped geophysical footprint. The newly-modelled 3D inversion highlights a low-resistivity anomaly plunging more than 1,400m below the surface and extending laterally over 1 km, more textbook red flags for porphyry architecture. Chairman Mark Stowell called the geometry 'textbook' and likened it to the famous Valeriano deposit, signalling both technical pedigree and scale. To sharpen targeting, Southern Hemisphere is revisiting historic drill data: a standout intercept, for example, included 164m at 0.16 per cent copper equivalent from near surface and deeper, far richer grade hits like 2m at 1.45 per cent copper equivalent from around 168m. The staged data layers now feed into a tight targeting model ahead of deep drilling. Under the terms of the JV framework with Southern Hemisphere, FMR can earn up to 60 per cent of the southern concessions, funding exploration that's pegged to include a minimum 1,400m deep hole into Curiosity. A$2.2 million capital raise and support from heavy-hitter Mark Creasy has lent weight to the joint venture push. The next stage for the JV partners is to test the new geophysical theories with the rotary truth diviner which is expected to happen soon – watch this space. Is your ASX-listed company doing something interesting? Contact:
Yahoo
14-04-2025
- Business
- Yahoo
CZR Resources receives $46.4m offer for Robe Mesa project in Australia
CZR Resources has received a binding offer from the Robe River Iron Associates Joint Venture (RRJV) to acquire its interests in key tenements of the Robe Mesa iron ore project in Western Australia for A$75m ($46.4m) in cash. The deal includes a sale and purchase agreement, a loan facility and a release deed to facilitate the transfer of assets. The RRJV comprises North Mining, a fully-owned subsidiary of Rio Tinto; Robe River Mining, which is 60% owned by Rio Tinto and 40% by Mitsui; and Mitsui Iron Ore Development, a subsidiary of Mitsui & Co. An upfront non-refundable exclusivity fee of A$650,000 is also part of the offer. In addition, the agreement includes a working capital loan facility of A$3.85m secured against exploration licence E08/1686 and other assets of Zanthus, a CZR subsidiary. The CZR board has deemed the Robe River JV offer superior to the previous Fenix Resources takeover offer, citing a significant premium, immediate cash availability and the retention of non-Robe Mesa project portfolios. The cash consideration from RRJV is expected to provide CZR with approximately A$68m post-tax, allowing for the development of retained projects without dilutive capital raisings. CZR will retain a 50% interest in several projects, which represent significant value for the company. These retained projects include the Ashburton Link and the proposed Port of Ashburton export facility, the Croydon Gold Project, the Buddadoo titanium-vanadium magnetite project, and the Shepherd's Well and Yarrie exploration projects. Fenix Resources has been notified of the superior proposal and has the right to submit a counterproposal by 17 April 2025. If Fenix presents a counterproposal, the CZR Board will review it to determine if it is more favourable than the Robe River JV offer. CZR's largest shareholder, Mark Creasy, has expressed support for the Robe River JV offer, stating his intention to vote in favour of the proposed transaction at the upcoming shareholder meeting, barring a superior proposal. "CZR Resources receives $46.4m offer for Robe Mesa project in Australia" 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.
Yahoo
30-03-2025
- Business
- Yahoo
Peregrine Gold Insider Buyers See Boost After Market Cap Rose AU$3.2m
Peregrine Gold Limited (ASX:PGD) insiders who purchased shares in the last 12 months were richly rewarded last week. The stock climbed by 27% resulting in a AU$3.2m addition to the company's market value. As a result, the stock they originally bought for AU$1.31m is now worth AU$1.65m. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Over the last year, we can see that the biggest insider purchase was by insider Mark Creasy for AU$1m worth of shares, at about AU$0.15 per share. Even though the purchase was made at a significantly lower price than the recent price (AU$0.19), we still think insider buying is a positive. 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. Peregrine Gold insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below! Check out our latest analysis for Peregrine Gold Peregrine Gold is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying. Over the last quarter, Peregrine Gold insiders have spent a meaningful amount on shares. Not only was there no selling that we can see, but they collectively bought AU$1.3m worth of shares. This could be interpreted as suggesting a positive outlook. Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Peregrine Gold insiders own about AU$6.3m worth of shares (which is 42% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders. It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss during the last year, which makes us a little cautious. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Peregrine Gold. That's what I like to see! 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. Every company has risks, and we've spotted 5 warning signs for Peregrine Gold (of which 4 can't be ignored!) you should know about. Of course Peregrine Gold 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
