Latest news with #TerraMetals
The Australian
6 days ago
- Business
- The Australian
TM1's maiden Dante resource hints at more
Special Report: Terra Metals' Dante polymetallic project in WA has been confirmed as a globally significant critical minerals discovery after the definition of a maiden resource with plenty of upside. Terra defines 148Mt resource with 14.8% titanium dioxide plus significant vanadium, copper, gold and platinum at Dante Resource covers less than 10% of mapped mineralised trend and was defined within 12 months of discovery Phase 3 drilling imminent with metallurgical optimisation testwork underway Leading independent consultant Ken Lomberg from Pivot Mining Consultants pencilled in a resource of 148Mt grading 14.8% titanium dioxide, 0.54% vanadium pentoxide, 0.18% copper and 0.33% PGE. This represents resources of 22Mt TiO2, 800,000t V2O5, 270,000t copper, 400,000oz gold, 880,000oz platinum and 330,000oz palladium. It includes a high-grade indicated resource of 38Mt at 18.4% TiO2, 0.73% V2O5, 0.23% copper and 0.72g/t 3PGE. Terra Metals (ASX:TM1) noted that this resource was defined within 12 months of initial discovery and was made at a low discovery cost of just 7c per tonne, which highlighted the simple, laterally extensive and near-surface nature of the system. Adding further interest, the resource covers less than 10% of the mapped mineralised trend, which remains open along strike and at depth with reconnaissance continuing to expand the known footprint. Initial metallurgical testwork using flotation and magnetic separation has also confirmed excellent recoveries and concentrate grades across all key metals – titanium, vanadium, copper, gold and platinum – with optimisation work ongoing. Titanium metal is much sought after in the aerospace sector for its high strength and light weight compared with steel. 'Our maiden mineral resource confirms Dante as a globally significant critical metals discovery — and to achieve it within just 12 months, at a very low discovery cost per tonne of resource, is an exceptional result,' managing director Thomas Line said. 'Not only have we exceeded our previous exploration target but the quality of the mineral system — its scale, near-surface continuity, metallurgical performance and growth potential — positions Dante as a strategic, long-life critical metal asset on a global scale.' Outcropping magnetite reefs relative to the location of resource and drill holes at Dante. Pic: Terra Metals Dante project The Dante project in WA's West Musgrave region differs from other titanium projects in key aspects with its multi-commodity nature. It encompasses titanium, copper, gold, vanadium and platinum, and sits in hard rock mineralisation rather than the typical heavy mineral sands. The Dante Reefs are a series of gently dipping, laterally extensive mineralised layers which outcrop from surface and run for at least 42km, believed to mirror the Bushveld province of South Africa, which houses some of the world's largest, longest running and most profitable PGE, copper, nickel and gold operations. Recent tenement acquisitions have extended strike potential to over 80km, with hundreds of kilometres of prospective stratigraphy within the project's footprint. Metallurgical testing using simple and low-cost processing techniques returned promising recoveries of 95.8% for copper, 65.6% for titanium, 90.9% for vanadium, 74.4% for platinum group metals and 75.8% for gold. This work also demonstrated high-grade concentrate products, including a high-grade 28% copper, 17g/t gold and 21.4g/t PGM sulphide concentrate as well as a high-grade titanium-ilmenite concentrate and a high-grade vanadium-magnetite concentrate, which highlight Dante Reefs' potential to be a competitive producer of multiple strategic mineral products from a single source. TM1 is currently planning to carry out Phase 3 drilling imminently. This includes infill and extensional drilling at Reef 1 North (Crius), Reef 2 (Hyperion), and Reef 1 South (Oceanus) as well as the testing of new targets identified across the broader Dante trend, including outcropping mapped reefs and electromagnetic targets. Metallurgical optimisation work is underway to support future scoping and feasibility studies while reconnaissance exploration is expected to continue to expand the strike of known reef systems. Additionally, high resolution airborne magnetics is planned on the recently acquired HRM tenements (Dante West). This article was developed in collaboration with Terra Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
News.com.au
20-07-2025
- Business
- News.com.au
Kristie Batten: Terra attracts big names to unique project
One of Australia's top mining journalists, Kristie Batten, writes for Stockhead every week in her regular column placing a watchful eye on the movers and shakers of the small cap resources scene. Explorer Terra Metals (ASX:TM1) has built some real momentum in the past two months as the market catches on to the strategic nature of its Dante polymetallic project in Western Australia. Last month, the company announced a placement to raise $4 million to advance work at Dante. What was eye-catching about the placement was the involvement of two big names. Singapore's Golden Energy and Resources, which owns stakes in Stanmore Resources and the Ravenswood gold mine in Queensland, and Brisbane-based resources entrepreneur Matthew Latimore, founder of fellow Stanmore shareholder M Resources, participated in the raising. GEAR and M Resources have invested together in the past, jointly acquiring the Appin and Dendrobium coal mines last year. They join Terra's existing major shareholder, Tribeca Investment Partners, on the register. Terra managing director and CEO Thomas Line told Stockhead its shareholders had done their due diligence and had a good understanding of the Dante project. 'They understand the markets that the products that this resource that we have at Dante go into, and the value of those products, and also the size and scale of the project, so they've undertaken a level of analysis that retail investors in Australia would never have been able to get to,' he said. Line said the polymetallic nature of the Dante orebody was far more challenging to understand than a simple pure-play gold project. 'Our project's not just normal polymetallic. It's a mixture of metals that have never been found together before in the same deposit of this size,' he said. 'So sometimes there's been some challenges with the Australian retail market understanding the asset, and the brokers and analysts knowing how to do the analysis to work out the value, but these groups coming out of Southeast Asia, where a lot of these markets are close to the commodity traders, they understand this. 'They've done the analysis, and they've arrived at the view that this is extremely prospective and has huge potential value and scale, and therefore they've taken the risk to make an investment in a company which is the smallest investment they have ever made. 'They typically only come in on hundreds of millions to billion-dollar deals … so it says a lot about what they see on the project, and it's huge validation for the project.' Dante looms Line said another thing Terra's new investors liked about the Dante project was its simple geology. 'The mineralisation is like coal seams,' he said. 'They get it because they own coal mines and they understand that we don't need to have reported the resource or drilled everything to know that it's there if it sticks out of the ground – it's easy to target with the drill.' Exploration to date has identified a laterally extensive, stratiform reef-style system with mineralisation mapped over 10km of strike and extending from surface to 250m depth. Terra has likened it to the platinum-rich Bushveld Complex of South Africa. A maiden resource for Dante is due imminently. Terra also has approval for the next phase of drilling, which will include infill of the resource, as well as some new targets. The company has identified additional reefs across more than 80km of strike, with recent tenement acquisitions extending the potential to hundreds of kilometres. 'It's very hard to comprehend the size until you've been out there,' Line said, adding that he'd taken the new investors to site last month. 'At 80km an hour, it took us about 60 or 70 minutes to drive from one end of the project to the other on the highway, so it is really, really big.' Phase one metallurgical test work delivered three high-grade concentrates: a copper-gold-PGM sulphide concentrate, a high-purity titanium-ilmenite concentrate and a high-grade vanadium-magnetite concentrate. 'This is exceptional for a polymetallic deposit to have such good metallurgical recoveries to produce such high-grade concentrates using the simplest and lowest cost processing tools that you can use,' Line said. 'If you look at other vanadium and titanium deposits around the world, you'll see that the concentrate that we produce is the highest titanium hard rock concentrate, using that magnetic separation method, that we've seen globally. 'It's also one of the highest-grade vanadium concentrates in the world, but on top of that, no other vanadium-titanium deposit is capable of producing a very high-grade copper-gold-platinum concentrate as well, and that's what this asset can do. 'So it's a diversified critical metals portfolio in a single resource, and each of those commodities and concentrate products are in totally different commodity cycles, so it provides hedging upside and exposure to different markets and different cycles which should pay dividends over time.' Notable neighbours Dante sits in the West Musgrave region and is surrounded by BHP. BHP's 390 million tonne Nebo-Babel nickel-copper deposit is 15km to the south of Dante and the 160Mt Succoth copper deposit, 10km to the south. BHP was more than halfway through building a $1.8 billion mine when it was placed on care and maintenance last year. 'A lot of infrastructure has already gone in, even though they went into care and maintenance based on the nickel price,' Line said. Rio Tinto and private AI explorer Kobold Mining are also active in the district. 'Jeff Bezos and Bill Gates made a big investment into Kobold, Rio, Tinto, BHP, two of the world's largest mining companies, and then you've got us,' Line said. 'There are synergies and potential pathways for partnerships with larger mining companies down the line that can be seen as a possibility, given where we are and how much land we hold and how big we expect the resources will be.' Line admitted that Terra had previously marketed off the back of BHP building a large mine next door to Dante. 'So, people had this assumption that we might be in trouble because BHP weren't continuing the build immediately, and that we are reliant upon them,' he said. 'But now we've just had these two big miners invest in us, so no longer is this perception that we're relying on BHP to progress the asset.' Line said the company's new shareholders were strong operators and had deep pockets. ' don't need another partner to take a project like this further,' he said. 'That being said, they do like to partner and Matt Latimore, who's also come in on the investment, has co-invested with GEAR on several other opportunities, and they've done very, very well, so whilst they have the capacity to build mines on their own, they're very good at getting involved in partnerships that that work out well for all parties.'
Yahoo
17-06-2025
- Business
- Yahoo
Terra Metals Inc. Appoints Lord Dr. Tariq Abbasi to Board of Directors and Mark Donohue as Chief Operating Officer, Signaling Strategic Global Expansion
CHARLOTTE, N.C. and LUSAKA, Zambia , June 16, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc., a Delaware-registered company focused on critical minerals development, today announced the appointment of Lord Dr. Tariq Abbasi, MBE, DL, FRSA, to its Board of Directors and Mr. Mark Donohue as its new Chief Operating Officer (COO). These senior appointments come as the company prepares to finalize a historic $100 million U.S.–Zambia joint venture, scheduled for signing tomorrow at the American Center in Lusaka. Lord Dr. Tariq Abbasi, a distinguished global statesman and Deputy Lord Lieutenant of Greater London, brings decades of public service, diplomatic influence, and board-level experience. His appointment signals Terra Metals' commitment to principled governance, international credibility, and strategic capital market preparation ahead of its upcoming reverse takeover (RTO) of Waskahigan Oil & Gas Corp., listed on the Canadian Stock Exchange (CSE). 'Lord Abbasi brings stature, credibility, and global reach to our board,' said Mumena Mushinge, Chairman and Co-Founder of Terra Metals Inc. 'His presence aligns with our values of inclusion, accountability, and ethical stewardship.' Mr. Mark Donohue, a rising executive based in Washington, D.C., has been appointed Chief Operating Officer following his recent graduation from Georgetown University's McDonough School of Business (MBA). He represents a new wave of globally minded leadership, tasked with operational execution, ESG integration, and value creation across Terra Metals' expanding footprint. 'Mark is young, driven, and globally fluent,' said Mushinge. 'We're excited to empower emerging leadership as we scale both in Zambia and across international markets.' The appointments come ahead of the signing of Terra Metals' $100 million joint venture with Metalex Commodities — a transformative project that has already begun producing copper and cobalt concentrates, vital to the global electric vehicle and clean energy industries. The JV, known as Lunda Resources, is expected to create between 500 and 1,000 jobs in its first phase through direct hires and contractor engagement. Tomorrow's signing ceremony will take place at the American Center in Lusaka, with the support of the U.S. Embassy, the Zambian Ministry of Mines, and with the blessing of traditional leaders in the North-Western Province. 'The appointments of Lord Dr. Tariq Abbasi and Mark Donohue reflect Terra Metals' commitment to global governance and next-generation execution. As we advance a $100 million clean energy minerals joint venture, Terra Metals is positioned as a U.S.-anchored, Africa-operating force in the critical minerals supply chain.'— Mumena Mushinge, Chairman, Terra Metals Inc. Media Contact:H. FaseExecutive Assistant to the Chairman hfase@ (980) 349-3883
Yahoo
16-06-2025
- Business
- Yahoo
Terra Metals secures investment to fund Dante project in Australia
Terra Metals has secured financial commitments of A$4m ($2.6m) from strategic investors through the issuance of 114.2 million new ordinary shares at A$0.035 each. The proceeds will support the exploration and development of the company's wholly owned Dante copper-gold-platinum group metal project in Western Australia (WA). The strategic investors include Golden Energy and Resources (GEAR), an Asia-Pacific resources company, and Matthew Latimore, a notable figure in the Australian resources sector. GEAR operates through various coal and gold mining subsidiaries including Stanmore Resources and Illawarra Coal Holdings. GEAR executive director and chief investment officer Mark Zhou said: 'The Dante Project is clearly a standout district-scale opportunity for a globally significant critical minerals resource. GEAR is pleased to take up a shareholding in Terra Metals and to be partnering with and supporting Terra Metals in this exploration journey.' Latimore, founder and president of M Resources, holds stakes in several resource companies. Latimore said: 'This investment is aligned with M Group's long-term growth strategy in minerals essential to the energy transition and future economy. It also complements our existing Queensland-based vanadium and graphite assets held through M Critical Minerals.' Terra Metals' largest shareholder, Tribeca Investment Partners, has also pledged to maintain its 15% stake under the placement, subject to shareholder approval. The proceeds from the placement will be used for drilling activities and general corporate purposes. The placement will be completed in two tranches, with the second contingent on shareholder approval at an upcoming General Meeting. Terra Metals has already conducted more than 17,000m of drilling, revealing a laterally extensive reef-style system with potential across hundreds of kilometres. An independent South African resource consultancy is scheduled to visit the site in mid-June in preparation for the company's maiden mineral resource estimate. In January 2025, Terra Metals announced an option to acquire HRM Exploration, which holds four exploration licences covering 618km², contiguous with the Dante project. "Terra Metals secures investment to fund Dante 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. 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
16-06-2025
- Business
- Yahoo
Terra Metals secures investment to fund Dante project in Australia
Terra Metals has secured financial commitments of A$4m ($2.6m) from strategic investors through the issuance of 114.2 million new ordinary shares at A$0.035 each. The proceeds will support the exploration and development of the company's wholly owned Dante copper-gold-platinum group metal project in Western Australia (WA). The strategic investors include Golden Energy and Resources (GEAR), an Asia-Pacific resources company, and Matthew Latimore, a notable figure in the Australian resources sector. GEAR operates through various coal and gold mining subsidiaries including Stanmore Resources and Illawarra Coal Holdings. GEAR executive director and chief investment officer Mark Zhou said: 'The Dante Project is clearly a standout district-scale opportunity for a globally significant critical minerals resource. GEAR is pleased to take up a shareholding in Terra Metals and to be partnering with and supporting Terra Metals in this exploration journey.' Latimore, founder and president of M Resources, holds stakes in several resource companies. Latimore said: 'This investment is aligned with M Group's long-term growth strategy in minerals essential to the energy transition and future economy. It also complements our existing Queensland-based vanadium and graphite assets held through M Critical Minerals.' Terra Metals' largest shareholder, Tribeca Investment Partners, has also pledged to maintain its 15% stake under the placement, subject to shareholder approval. The proceeds from the placement will be used for drilling activities and general corporate purposes. The placement will be completed in two tranches, with the second contingent on shareholder approval at an upcoming General Meeting. Terra Metals has already conducted more than 17,000m of drilling, revealing a laterally extensive reef-style system with potential across hundreds of kilometres. An independent South African resource consultancy is scheduled to visit the site in mid-June in preparation for the company's maiden mineral resource estimate. In January 2025, Terra Metals announced an option to acquire HRM Exploration, which holds four exploration licences covering 618km², contiguous with the Dante project. "Terra Metals secures investment to fund Dante 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. 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
