Latest news with #MetroMining
News.com.au
28-05-2025
- Business
- News.com.au
Resources Top 5: Locksley on the charge after arming itself for Mojave drilling
Funds raised in a placement will fund upcoming exploration at the Mojave antimony and rare earths project Placement funds will enable Victory to accelerate a pre-feasibility study and development of North Stanmore Bauxite miner Metro Mining reached 6.3c, a 6.8% increase on the previous close Your standout resources stocks for Wednesday, May 28, 2025 Locksley Resources (ASX:LKY) On the charge to a daily high of 7.1c, a lift of 45% on the previous close and on volume of more than 119m, was Locksley Resources after raising $1.47m in a strongly supported placement. There were 36.67 million shares issued at 4c each to sophisticated and institutional investors in the placement, which was heavily oversubscribed. Funds will be used to fund an upcoming exploration campaign, including drilling, at the Mojave antimony and rare earths project in California. The exploration team of Locksley Resources (ASX:LKY) is already mobilising to site in order to confirm priority targets and prepare for drilling to start. The team will confirm and peg drill collar locations and access routes while the company waits for Bureau of Land Management approvals to be granted. Priority activities also include access routes and the engagement of earthworks and drill contractors to complete the drilling program. In addition, the exploration 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, which is expected to begin in the September quarter, 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%. This comprehensive campaign is designed to progress priority targets and unlock the project's critical minerals potential. Mojave is immediately adjacent to MP Materials' high-grade Mountain Pass mine and processing facility, which is the only active REE processor in the US and produces ~15% of global REE supply. It is prospective for valuable magnet REEs such as neodymium and praseodymium, as well as antimony with rock chips having returned grades of up to 17% while sampling also returned high-grade results of between 3.74% and 9.49% total rare earth oxides within a six-metre wide mineralised zone at the El Campo prospect. 'We're extremely pleased with the strong support shown for this raise, which allows us to advance both antimony and REE drilling in one of the most strategic locations in the US,' chairman Nathan Lude said. 'This funding puts us in a strong position to execute our exploration program and deliver key value catalysts in the months ahead.' REEs and antimony are designated as critical minerals by the US government with the former – particularly magnet REEs – used to manufacture permanent rare earth magnets that are used in electric vehicle motors and wind turbines. Antimony, which reportedly cracked the US$60,000t mark recently, is used as a flame retardant and in the production of alloys, which are used in batteries, low-friction metals, small arms, tracer bullets, cable sheathing and other industrial products. Victory Metals (ASX:VTM) Another company on the move after raising funds was Victory Metals, which climbed 16.3% to a daily high of $1.00. The $4m raised will enable the company to accelerate a pre-feasibility study and development of its flagship North Stanmore rare earths project near Cue in Western Australia. Firm commitments have been received for the placement at 73c per share, which was a 15% discount to VTM's last traded price on May 26, 2025. The placement attracted strong backing from Victory's top 20 shareholders as well as directors and management, reflecting high confidence in the company and its North Stanmore project, Australia's largest clay-hosted heavy rare earth deposit. More than 5m will be issued to professional and sophisticated investors and around 340,000 shares to directors and management, pending shareholder approval. The company will also issue 1.8m unlisted options with an exercise price of $1.30 and a two-year exercise period to unrelated parties under the investor participation. Victory Metals (ASX:VTM) said this funding marked a turning point, positioning it as a global leader in critical minerals. Recent testwork recovered seven strategic metals, including gallium and other rare earths impacted by Chinese export restrictions, marking a key milestone in establishing a globally significant critical minerals platform. 'This raise will fast track our PFS and marks a pivotal moment for Victory with such strong support,' Victory's CEO and executive director Brendan Clark said. 'North Stanmore is emerging as one of the world's most advanced heavy rare earth clay projects and is already Australia's leading heavy rare earth project. 'Our MREC testwork has successfully recovered seven strategic metals currently under Chinese export restrictions, including gallium and the full suite of critical heavy rare earths. 'We are building a globally significant critical minerals platform and are proud to be leading the charge.' Settlement of the placement shares and placement options is expected to occur on Thursday, June 5, 2025, with shares to begin normal trading on the ASX on Friday, June 6. Shareholder approval for the director participation will be sought at a general meeting planned to be held in July 2025. Metro Mining (ASX:MMI) (Up on no news) ASX-listed bauxite producers and explorers have been buoyed by stronger prices and improved market fundamentals in the past few months and among them is Metro Mining, which has reached 6.3c, a 6.8% increase on the previous close, despite having no news. The primary driver of the changed markets for the key raw material for aluminium production, has been the suspension of exports from Guinea, the second largest producer globally and just behind Australia in production volume. This has seen increased demand from China for other sources as well as increased prices and the trend is expected to continue throughout the remainder of 2025. Metro Mining has operations in the bauxite region on the west coast of Queensland's Cape York. The 100%-owned Bauxite Hills Mine is on the Weipa bauxite plateau about 95 km north of Weipa, near the coast on the Skardon River. This month the company updated its ore reserve and resource estimates for Bauxite Hills, taking into account depletion from mining during 2024. The total resource estimate for Bauxite Hills is now 114.4Mt (dry), representing a decrease of 4.3Mt from the December 31, 2023, estimate. No additional resources were added as no exploration was undertaken during 2024 and there were no additional conversions from indicated to measured categories or inferred to indicated categories. The total reserve estimate is now 77.7Mt (wet). The decrease was 5.5Mt from that published in May 2024 which accounted for mining to the end of December 2024. Hawsons Iron (ASX:HIO) (Up on no news) Although it also has no news today, Hawsons Iron increased as much as 74% to 4c, a high of more than two years. Last week, testwork on ore from its namesake project in the far west of NSW supported a plan to use 100% dry processing as it is a cleaner, cheaper alternative to the traditional wet method. An independent report from Stantec Australia confirms the dry circuit is not only viable but also cuts costs and improves environmental outcomes while also opening the door to potential value-add side products like silica sand. Stantec's Project Report provides confidence for further investigation into potential secondary products (eg hematite, silica sands) and flow on optimisation of mine design, processing and logistics. Detailed analytical work completed recently demonstrates a high level of geochemical and physical material consistency, throughout the current resource, particularly within the early phase of operations, which significantly contributes towards de-risking the project during its early years of operation. The company is collating engineering and cost data with the aim of releasing an updated prefeasibility study together with maiden ore reserves for the Hawsons iron project. Pivotal Metals (ASX:PVT) After identifying bonanza-grade gold targets during a review of historical data from the Lorraine prospect in Canada, Pivotal Metals jumped 50% on the previous close to a daily high of 0.9c. The review included a result of 28m at 45.2 g/t gold and 3.2% copper in an historical underground channel sample. This and other high-grade results show potential for a significant system at the project in Quebec. Among the other results were: 9.5m at 14.1 g/t Au and 3.2% Cu; and 0.97m at 56.2 g/t Au including 0.15m at 233.9 g/t. A broad 600m strike prospective corridor has been defined with multiple signature Cu-Au quartz veining. The gold target is largely unexplored following the conclusion of copper-nickel focused mining in the 1960s and the company has started a gold focused work program, including the definition of drill targets with detailed surface mapping and sampling along with a high resolution UAV magnetic survey to inform structural controls. The Lorraine targets are a small part of the large and highly prospective Belleterre-Angliers Greenstone Belt (BAGB) project, which is close to the infrastructure-rich Abitibi mining camp. Pivotal managing director Ivan Fairhall said: 'With a large and robust shallow copper resource and clear exploration pathway in hand at Horden Lake, we are broadening our program to our BAGB projects; where bonanza Cu, Ni and Au grades are guiding us towards the next discovery. 'These gold targets at Lorraine are an exciting addition to our already attractive Cu-Ni projects at BAGB. The bonanza Au grades and their correlation over a significantly broad area provide very strong encouragement for discovery in this area which has largely unexplored for Au, with the historical focus on Cu-Ni previously mined. 'We are planning an aggressive summer field program to establish the continuity of the broad Au-Cu-quartz vein system adjacent to the Lorraine mine to develop drill targets for immediate follow up.' This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Locksley Resources and Victory Metals are Stockhead advertisers, they did not sponsor this article.
Yahoo
26-05-2025
- Business
- Yahoo
We Might See A Profit From Metro Mining Limited (ASX:MMI) Soon
We feel now is a pretty good time to analyse Metro Mining Limited's () business as it appears the company may be on the cusp of a considerable accomplishment. Metro Mining Limited, together with its subsidiaries, operates as an exploration and mining company in China. The AU$341m market-cap company announced a latest loss of AU$22m on 31 December 2024 for its most recent financial year result. As path to profitability is the topic on Metro Mining's investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts' expectations for the company. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Consensus from 2 of the Australian Metals and Mining analysts is that Metro Mining is on the verge of breakeven. They expect the company to post a final loss in 2024, before turning a profit of AU$103m in 2025. Therefore, the company is expected to breakeven roughly a year from now or less! At what rate will the company have to grow in order to realise the consensus estimates forecasting breakeven in under 12 months? Using a line of best fit, we calculated an average annual growth rate of 26%, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. Given this is a high-level overview, we won't go into details of Metro Mining's upcoming projects, though, keep in mind that by and large metals and mining companies, depending on the stage of operation and metals mined, have irregular periods of cash flow. So, a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. View our latest analysis for Metro Mining Before we wrap up, there's one issue worth mentioning. Metro Mining currently has a debt-to-equity ratio of 185%. Typically, debt shouldn't exceed 40% of your equity, and the company has considerably exceeded this. A higher level of debt requires more stringent capital management which increases the risk around investing in the loss-making company. There are too many aspects of Metro Mining to cover in one brief article, but the key fundamentals for the company can all be found in one place – Metro Mining's company page on Simply Wall St. We've also compiled a list of key aspects you should further examine: Valuation: What is Metro Mining worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Metro Mining is currently mispriced by the market. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Metro Mining's board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. 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
Yahoo
26-05-2025
- Business
- Yahoo
We Might See A Profit From Metro Mining Limited (ASX:MMI) Soon
We feel now is a pretty good time to analyse Metro Mining Limited's () business as it appears the company may be on the cusp of a considerable accomplishment. Metro Mining Limited, together with its subsidiaries, operates as an exploration and mining company in China. The AU$341m market-cap company announced a latest loss of AU$22m on 31 December 2024 for its most recent financial year result. As path to profitability is the topic on Metro Mining's investors mind, we've decided to gauge market sentiment. Below we will provide a high-level summary of the industry analysts' expectations for the company. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Consensus from 2 of the Australian Metals and Mining analysts is that Metro Mining is on the verge of breakeven. They expect the company to post a final loss in 2024, before turning a profit of AU$103m in 2025. Therefore, the company is expected to breakeven roughly a year from now or less! At what rate will the company have to grow in order to realise the consensus estimates forecasting breakeven in under 12 months? Using a line of best fit, we calculated an average annual growth rate of 26%, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. Given this is a high-level overview, we won't go into details of Metro Mining's upcoming projects, though, keep in mind that by and large metals and mining companies, depending on the stage of operation and metals mined, have irregular periods of cash flow. So, a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. View our latest analysis for Metro Mining Before we wrap up, there's one issue worth mentioning. Metro Mining currently has a debt-to-equity ratio of 185%. Typically, debt shouldn't exceed 40% of your equity, and the company has considerably exceeded this. A higher level of debt requires more stringent capital management which increases the risk around investing in the loss-making company. There are too many aspects of Metro Mining to cover in one brief article, but the key fundamentals for the company can all be found in one place – Metro Mining's company page on Simply Wall St. We've also compiled a list of key aspects you should further examine: Valuation: What is Metro Mining worth today? Has the future growth potential already been factored into the price? The intrinsic value infographic in our free research report helps visualize whether Metro Mining is currently mispriced by the market. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Metro Mining's board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. 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. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
07-02-2025
- Business
- Yahoo
Those who invested in Metro Mining (ASX:MMI) a year ago are up 200%
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But if you pick the right stock, you can make a lot more than 100%. For example, the Metro Mining Limited (ASX:MMI) share price has soared 200% return in just a single year. Also pleasing for shareholders was the 29% gain in the last three months. It is also impressive that the stock is up 120% over three years, adding to the sense that it is a real winner. Now it's worth having a look at the company's fundamentals too, because that will help us determine if the long term shareholder return has matched the performance of the underlying business. Check out our latest analysis for Metro Mining Given that Metro Mining didn't make a profit in the last twelve months, we'll focus on revenue growth to form a quick view of its business development. When a company doesn't make profits, we'd generally hope to see good revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size. Over the last twelve months, Metro Mining's revenue grew by 44%. That's a fairly respectable growth rate. The revenue growth is decent but the share price had an even better year, gaining 200%. If the profitability is on the horizon then now could be a very exciting time to be a shareholder. Of course, we are always cautious about succumbing to 'fear of missing out' when a stock has shot up strongly. The image below shows how earnings and revenue have tracked over time (if you click on the image you can see greater detail). Take a more thorough look at Metro Mining's financial health with this free report on its balance sheet. We're pleased to report that Metro Mining shareholders have received a total shareholder return of 200% over one year. There's no doubt those recent returns are much better than the TSR loss of 7% per year over five years. We generally put more weight on the long term performance over the short term, but the recent improvement could hint at a (positive) inflection point within the business. It's always interesting to track share price performance over the longer term. But to understand Metro Mining better, we need to consider many other factors. To that end, you should learn about the 2 warning signs we've spotted with Metro Mining (including 1 which makes us a bit uncomfortable) . If you are like me, then you will not want to miss this free list of undervalued small caps that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. 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.
