Latest news with #WarwickGrigor
The Age
3 days ago
- Business
- The Age
Aguia locks in $4M loan to kick-start Brazilian phosphate production
Aguia Resources has locked in a $4 million loan from the government-owned Southern Development Bank in Brazil to refurbish the company's recently leased processing plant and kick-start mining operations at its Tres Estradas phosphate project. The 20-year loan covers the initial $118,000 capital expenditure required to kick off mining activities and fund an estimated $1.97M needed to bring the plant up to speed to process an expected 100,000 tonnes of phosphate annually. The company is eyeing processing operations beginning in January next year on its organic phosphate product, dubbed Pampafos. Recent field trials showed Pampafos rivals the performance of top-shelf imported fertilisers at a fraction of their price. Aguia recently leased its plant in Caçapava do Sul from century-old agricultural limestone firm Dagoberto Barcellos SAS. The decision to lease a suitable facility may turn out to be a masterstroke, as it avoids the need for a capital raise for a new plant and its considerable associated shareholder dilution. 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project.' Aguia Resources executive chairman Warwick Grigor Aguia secured a 10-year lease on the fully operational Dagoberto Barcelos processing plant for what appears to be a modest $43,000 monthly fee and a one-off payment of $1.36M. After a $1.97M refurb and small capital expenditure outlay at the mine site, local mine services firm Contrasaper will then be positioned to supercharge mining activities at the project. Contrasaper's imprimatur is to undertake contract mining at the project and transport the phosphate to feed the processing facility at Caçapava do Sul, one of the oldest municipalities in the state of Rio Grande Do Sul. Aguia Resources executive chairman Warwick Grigor said: 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project, confirming strong governmental and social support for the development. The proposed capital for the first stage of 100,000tpa of phosphate product is able to be fully funded with the availability of the bank finance. The facility will also be useful in partly financing the subsequent expansion to 300,000tpa, in due course.'
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
Aguia locks in $4M loan to kick-start Brazilian phosphate production
Aguia Resources has locked in a $4 million loan from the government-owned Southern Development Bank in Brazil to refurbish the company's recently leased processing plant and kick-start mining operations at its Tres Estradas phosphate project. The 20-year loan covers the initial $118,000 capital expenditure required to kick off mining activities and fund an estimated $1.97M needed to bring the plant up to speed to process an expected 100,000 tonnes of phosphate annually. The company is eyeing processing operations beginning in January next year on its organic phosphate product, dubbed Pampafos. Recent field trials showed Pampafos rivals the performance of top-shelf imported fertilisers at a fraction of their price. Aguia recently leased its plant in Caçapava do Sul from century-old agricultural limestone firm Dagoberto Barcellos SAS. The decision to lease a suitable facility may turn out to be a masterstroke, as it avoids the need for a capital raise for a new plant and its considerable associated shareholder dilution. 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project.' Aguia Resources executive chairman Warwick Grigor Aguia secured a 10-year lease on the fully operational Dagoberto Barcelos processing plant for what appears to be a modest $43,000 monthly fee and a one-off payment of $1.36M. After a $1.97M refurb and small capital expenditure outlay at the mine site, local mine services firm Contrasaper will then be positioned to supercharge mining activities at the project. Contrasaper's imprimatur is to undertake contract mining at the project and transport the phosphate to feed the processing facility at Caçapava do Sul, one of the oldest municipalities in the state of Rio Grande Do Sul. Aguia Resources executive chairman Warwick Grigor said: 'The offer of finance from a government- owned bank speaks volumes for the quality of the Tres Estradas project, confirming strong governmental and social support for the development. The proposed capital for the first stage of 100,000tpa of phosphate product is able to be fully funded with the availability of the bank finance. The facility will also be useful in partly financing the subsequent expansion to 300,000tpa, in due course.'
The Age
4 days ago
- Business
- The Age
Aguia hits paydirt with first hole at Colombian gold project
The current drilling program is designed to target vein systems within a 7km-long mineralised corridor. Except for the first few holes, the drilling is planned to test near-surface mineralisation in holes that are shorter than 100m. Assays are pending. When the results are in, Aguia plans to map out the dip, strike and offset of the known gold-bearing veins for future mine planning and resource modelling. The gold at Santa Barbara seems to come from a mix of mesothermal and epithermal rocks, with signs of repeated mineral activity. The veins are found in pinkish rock, called San Lucas gneiss, which contain broken rock textures with coarse galena and yellow sphalerite - both are signs of a strong gold system. The project's vein system appears to be showing striking similarities to two of Colombia's biggest gold hitters, the Segovia and Buriticá mines. When Canadian outfit Continental Gold unveiled its maiden resource at Buriticá in 2011, it stunned the market with 3.1 million ounces of gold and 11 million ounces of silver - all pulled from just 14 veins in the Yaraguá zone. Some of those veins were razor-thin at just 3cm wide and were often tightly packed within 50m of each other, much like Santa Barbara's mineralisation. It was no surprise when the company revealed an internal study in April estimating a jaw-dropping exploration target of two to four million tonnes of material grading up to 30g/t. Aguia Resources executive chairman Warwick Grigor said: 'We have always been confident that we can build on the earlier trial mining and testing program to develop a small but highly profitable underground gold mine. The real speculative appeal comes from the possibility that we could be sitting on a large high-grade gold resource.' To keep the momentum going and subject to success, Aguia is planning to bring a second drill rig in on the action to expand the program and target deeper extensions of the mineralised zones. Meanwhile, the past few months have been a hive of activity on site as Aguia busied itself with the restart of gold production. Underground, the old workings have been fully rehabbed with a fresh ventilation system, upgraded electricals and a slick new electric locomotive now running through the tunnels. Up top, the processing plant has had a facelift. It's now turning over 30 tonnes per day of ore, with a bump to 50tpd expected by July when a new primary crusher comes online. Perhaps the biggest win came six weeks ago, when Aguia cleared a key regulatory hurdle, locking in full government approval to sell its gold locally and internationally. With the green light in hand, the company has wasted no time cashing in - just as gold prices flirt with record highs of more than $5000 an ounce. With assays pending and the drills turning, Aguia is positioning itself for what could be a major gold discovery in the making. If grades come back as hoped, Santa Barbara might just turn from a speculative play into Colombia's newest underground gold story.
Sydney Morning Herald
4 days ago
- Business
- Sydney Morning Herald
Aguia hits paydirt with first hole at Colombian gold project
The current drilling program is designed to target vein systems within a 7km-long mineralised corridor. Except for the first few holes, the drilling is planned to test near-surface mineralisation in holes that are shorter than 100m. Assays are pending. When the results are in, Aguia plans to map out the dip, strike and offset of the known gold-bearing veins for future mine planning and resource modelling. The gold at Santa Barbara seems to come from a mix of mesothermal and epithermal rocks, with signs of repeated mineral activity. The veins are found in pinkish rock, called San Lucas gneiss, which contain broken rock textures with coarse galena and yellow sphalerite - both are signs of a strong gold system. The project's vein system appears to be showing striking similarities to two of Colombia's biggest gold hitters, the Segovia and Buriticá mines. When Canadian outfit Continental Gold unveiled its maiden resource at Buriticá in 2011, it stunned the market with 3.1 million ounces of gold and 11 million ounces of silver - all pulled from just 14 veins in the Yaraguá zone. Some of those veins were razor-thin at just 3cm wide and were often tightly packed within 50m of each other, much like Santa Barbara's mineralisation. It was no surprise when the company revealed an internal study in April estimating a jaw-dropping exploration target of two to four million tonnes of material grading up to 30g/t. Aguia Resources executive chairman Warwick Grigor said: 'We have always been confident that we can build on the earlier trial mining and testing program to develop a small but highly profitable underground gold mine. The real speculative appeal comes from the possibility that we could be sitting on a large high-grade gold resource.' To keep the momentum going and subject to success, Aguia is planning to bring a second drill rig in on the action to expand the program and target deeper extensions of the mineralised zones. Meanwhile, the past few months have been a hive of activity on site as Aguia busied itself with the restart of gold production. Underground, the old workings have been fully rehabbed with a fresh ventilation system, upgraded electricals and a slick new electric locomotive now running through the tunnels. Up top, the processing plant has had a facelift. It's now turning over 30 tonnes per day of ore, with a bump to 50tpd expected by July when a new primary crusher comes online. Perhaps the biggest win came six weeks ago, when Aguia cleared a key regulatory hurdle, locking in full government approval to sell its gold locally and internationally. With the green light in hand, the company has wasted no time cashing in - just as gold prices flirt with record highs of more than $5000 an ounce. With assays pending and the drills turning, Aguia is positioning itself for what could be a major gold discovery in the making. If grades come back as hoped, Santa Barbara might just turn from a speculative play into Colombia's newest underground gold story.
Yahoo
26-02-2025
- Business
- Yahoo
Aguia Resources secures ten-year lease to use processing facility for Brazilian mine
Aguia Resources' 100%-owned Brazilian subsidiary Águia Fertilizantes has entered INTO a ten-year lease agreement with Brazilian company Dagoberto Barcelos to utilise its existing processing facility in Rio Grande do Sul, Brazil, to treat Pampafos ore. This strategic move is aimed at enhancing Aguia's phosphate production capabilities. Aguia also retains the option to extend the lease for a further ten years. Under the terms of the lease, Aguia will pay an entry fee of 5m reais ($871,765), structured in six payments to align with the company's cash flow strategy. The initial payment of 120,000 reais is due eight days post-signing, with subsequent payments spread across the following five months. From 1 August 2025, Aguia will incur a monthly lease fee of 163,200 reais. Aguia will take operational control of the processing facility, which currently has a processing capacity of around 100,000 tonnes per annum (tpa) of phosphate. Installing an extra hammer mill, a second drying unit, and minor system upgrades could boost annual production to 300,000tpa. Production at the facility is projected to begin by the third quarter (Q3) of 2025, initially utilising Pampafos ore. Aguia is fast-tracking exploration and development of the Mato Grande and Passo Feio deposits, which could potentially replace the Pampafos ore. These deposits are located near the DB plant, with Mato Grande less than 3km away, and Passo Feio located 8km away. Drilling and evaluation efforts at these sites are currently underway. Aguia executive chair Warwick Grigor said: 'Depending upon the speedof market penetration, Aguia will look to expand production at the plant as early as the start of 2026. When I became chairman of Aguia I stated that our goal was to clear the way to commence production of phosphate in Brazil as soon as possible. 'I am pleased to report that we are now close to realising that goal with our eye on progressive expansion through one or more processing plants and with significantly less capex [capital expenditure] than previously expected. With Brazil largely dependent on phosphate imports, we are confident of carving out a meaningful market position in southern Brazil, the country's preeminent agricultural region. 'We look forward to bringing on a second meaningful revenue stream this year, adding to our gold processing operations at the high-grade Santa Barbara project in Colombia which is advancing very favourably.' Aguia anticipates earning A$150 to A$160 per tonne for its high-grade company is in talks with another processing facility in Caçapava do Sul to expand production from its fully owned phosphate projects. "Aguia Resources secures ten-year lease to use processing facility for Brazilian mine" 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.
