Poseidon Nickel Limited

via Australian Mining Poseidon Nickel Limited has finalised its agreement with Encore Minerals to develop the Windarra gold and nickel tailings project in Western Australia. Originally announced on July 31, the agreement will see Encore use proprietary glycine leaching technology (GLT), specifically the GlyCat and GlyLeach, to process valuable minerals from Windarra tailings, including #gold and #nickel. The agreement was subject to several conditions, with all conditions outlined in the agreement having now been satisfied or waived. Read the article: https://loom.ly/eDqmJkQ #PoseidonNickel #POS #ASX

via Proactive Poseidon Nickel Limited set to progress Windarra Tailings Project with Encore agreement now unconditional Read the article: https://loom.ly/22A81oE #POS #ASX #gold #nickel

via Mining.com.au Poseidon advances Windarra tailings agreement Poseidon Nickel Limited‘s agreement with Perth-based technology company Encore Minerals to develop the #gold and #nickel tailings at the Windarra Tailings Project in Western Australia is now unconditional. Read the article ➡️ https://loom.ly/fJWPVTQ #PoseidonNickel #POS #ASX #MiningNews

#ASXNews AGREEMENT WITH ENCORE MINERALS TO DEVELOP WINDARRA TAILINGS PROJECT NOW UNCONDITIONAL Poseidon Nickel Limited is pleased to announce the Agreement with Encore Minerals Pty Ltd to develop the gold and nickel tailings at the Windarra Tailings Project using Draslovka’s a.s.’s proprietary Glycine Leaching Technology (GLT) and other patented technology is now unconditional. • As announced on 31 July 2024, Poseidon entered into an agreement with Encore Minerals to develop the Windarra #gold and #nickel tailings project • The agreement was subject to various conditions precedent, including due diligence by Encore • Encore has confirmed that it is satisfied with its due diligence enquiries and the parties have agreed all other conditions precedent have been satisfied or waived Pursuant to the Agreement, Poseidon will receive a total of $1.25 million staged payments, an NSR royalty of 3% on production and $1.6 million towards the existing rehabilitation bond. The funding, development, operation, closure and rehabilitation of the project will be the responsibility of Encore. See the full announcement: https://loom.ly/TWXgcGA #PoseidonNickel #POS #ASX #MiningNews

#ASXNews Poseidon Nickel Limited is pleased to present its Quarterly Activities Report for the quarter ended 30 September 2024. • Proposed merger of Poseidon Nickel and Horizon Minerals. • Gold potential at Black Swan continues to build. • Copper-Gold targets at Lake Johnston. • Lithium in soils anomaly at Lake Johnston. • Gold rock chips samples at Windarra. • Agreement with Encore Minerals to develop Windarra tailings project. #POS CEO, Brendan Shalders, commented: “During the September 2024 quarter the Company undertook a process to consider offers from parties interested in corporate or asset level transactions with Poseidon. This process commenced early in the quarter with the appointment of an advisor following inbound interest during the first half of 2024. From this process, the recently announced proposed merger with Horizon is anticipated to present the greatest value and future growth potential for Poseidon shareholders. The proposed merger aligns with Poseidon’s strategy to unlock the value of our projects through exploration and business development opportunities in commodities other than nickel . "The proposed business combination provides Poseidon shareholders continuing exposure to the Company’s strategic assets, a low-capital, near term pathway to process Horizon’s #gold resources at Black Swan, exposure to projected strong operating cashflows in a high gold price environment from Horizon’s toll treating projects and the potential for future #exploration success across the combined significant landholding in the WA Goldfields region. The proposed transaction was equivalent to a 40% premium to the 30-day VWAP of Poseidon’s share price as of 22 October 2024 and an approximate 100% premium to the August 2024 entitlement offer price of $0.003/share. "Outside of the proposed #merger, the Company continues to build gold exploration targets identified across all three projects. Soil samples collected from Black Swan noted four coherent gold anomalies with the strongest adjacent to the existing mines and processing infrastructure. At Lake Johnston soil samples collected enhanced the Billy Ray anomaly and noted anomalous gold values at the Norfolk Prospect, in addition to, a large lithium anomaly across one of the Mantis tenements. While at Windarra gold bearing rock chip samples were collected from within the gold anomalies areas previously reported. The Company is continuing exploration programs, in particular, developing future drill programs for the Wilson’s Prospect at Black Swan and the Billy Ray Prospect at Lake Johnston." VIEW the Report https://loom.ly/IKHhgi8 #PoseidonNickel #Gold #Lithium #Shareholders #Investing #SeptemberReport

#ASXNews Horizon Minerals has today released the Horizon & Poseidon Nickel Limited Merger Presentation, "A Natural Pairing in the Goldfields". View the presentation: https://loom.ly/mPFbqA8 #POS #HRZ #ASX #exploration #gold

#ASXNews Horizon Minerals and Poseidon Nickel Limited have entered into a scheme implementation deed pursuant to which they have agreed to a merger to be conducted by way of Schemes of Arrangement, whereby Horizon will acquire 100% of the fully paid ordinary shares in #POS and 100% of the unlisted Poseidon options under the code POSAAB, subject to the satisfaction of various conditions. 🔸Logical consolidation of complementary assets in the WA Goldfields • The proposed transaction will consolidate Horizon’s large gold resource and Poseidon’s Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts. • The combination provides a pathway for sustainable, long-term gold production & cashflow as an independent mid-cap producer. 🔸Substantial resource base and regional tenure • Combined JORC Mineral Resources of ~1.8Moz #gold at an average grade of 1.84g/t Au & 422,700t #nickel at an average grade of 1% Ni. • Combined tenure of 1,309km² in an attractive geological position in the WA Goldfields. • A strong pipeline of production sources, Mineral Resource growth opportunities, advanced brownfield exploration targets & greenfield exploration opportunities. 🔸Aligned strategy of using Poseidon’s Black Swan infrastructure to fast-track gold production • Refurbishment to facilitate gold production presents a significantly faster, lower capital pathway to gold production compared to building a new gold processing plant. • Horizon’s 465koz Burbanks and 428koz Boorara gold deposits form pipeline aiming to deliver a 5-year mine plan to fill the Black Swan processing plant. • Conversion of the Black Swan processing plant to a gold plant with throughput optionality will unlock latent value in Horizon’s portfolio and open up the region for toll milling and further consolidation. 🔸Shared focus and ambition to become the next mid-tier gold producer • Horizon aims to become a sustainable, 100kozpa standalone producer following the merger and conversion & recommissioning of the Black Swan processing plant. 🔸Strategically positioned and permitted infrastructure • In addition to the combined entity’s Kalgoorlie-Coolgardie gold assets, Lake Johnston & Windarra present highly strategic assets that have the ability to deliver further shareholder value. • Permitted Lake Johnston 1.5Mtpa processing plant & associated infrastructure presents an opportunity to develop a lithium processing hub in this emerging lithium province. • Located in Laverton, Windarra’s water resource & gold tailings present highly strategic assets. 🔸Potential for re-rating based on enhanced scale and market relevance • Enhanced trading liquidity & scale to drive increased market relevance, grow investor appeal & improved access to capital. • Lower combined corporate overheads to enable greater focus on asset investment. View the full announcement: https://loom.ly/SyxUsI8

#ASXNews Poseidon Nickel Limited will be placed in an immediate trading halt pending the release of an announcement regarding a potential change of control transaction. The trading halt will remain in place until the earlier of #POS releasing the announcement, or the commencement of trading on Friday, 25 October 2024. View the announcement: https://loom.ly/dBAOf_4 #PoseidonNickel #ASX #gold #copper #mining

Poseidon Nickel Limited is pleased to release its Annual Report 2024 to shareholders, for the year ending 30 June 2024. Following the decline in the nickel price over 2024 #POS is now actively assessing the potential for other commodities across its project portfolio. This revised strategy has resulted in the discovery of developing #gold exploration targets across all three projects and inbound interest from peers with established mineral resources proximal to #POS sites and no processing capabilities. VIEW the full Report https://loom.ly/3qJXlhQ #Shareholders #AnnualReport2024 #Gold #Nickel

via @Mining Mag NEW COPPER-GOLD AND LITHIUM OPPORTUNITIES AT LAKE JOHNSTON Poseidon Nickel Limited has released an update regarding enhanced copper-gold and #lithium targets, following exploration programs at its Lake Johnston project. #POS CEO, Brendan Shalders, said that following completion of its recent soil sampling program at Lake Johnston, the company continues to receive positive results that have enhanced the greenfield opportunities at this project. “These include the copper-gold opportunities at Billy Ray and Norfolk Prospects, and the lithium potential across the Mantis tenement E63/2244,” Mr Shalders said. “Due to the historic nickel focus, large areas of the Lake Johnston greenstone belt that are prospective for gold, lithium and base metals have been under explored with no surface geochemistry coverage or assays for these targeted metals. “The maiden Mantis soil program is part of a larger systematic program that will be assayed for a broad suite of pathfinder elements to provide baseline coverage for the first time over the entire Lake Johnston tenement package. The results from the Mantis program have been very successful on several fronts.” READ the Article https://loom.ly/f01ElSM #Copper #Gold #MiningMag #PoseidonNickel