Business Focus Magazine’s Post

MetalsGrove Mining Ltd (ASX:MGA) has completed an entitlement offer, which was fully subscribed with applications received for more than 52.7 million shares to raise $2.1 million before costs. Shareholders were offered one fully paid ordinary share for every share held at a price of $0.04 per new share. Participants were also offered one free attaching option with an exercise price of $0.12, expiring three years from their issue date. The funds will go to various exploration programs across the company’s assets while also offering opportunities for further potential acquisitions. MetalsGrove is focused on exploring its portfolio of #lithium projects in Zimbabwe as well as multi-metal projects including rare earth, copper-gold, #manganese and base metal assets in Western Australia and the Northern Territory. More at #Proactive #ProactiveInvestors #RareEarthElements #Copper #Gold http://ow.ly/bVTy105uwI2

New buyers offer N$5bn for Osino Resources, surpassing Dundee's N$4bn offer Osino Resources Corp. Resources Corp (Osino) says it has received a compelling proposal from an unnamed foreign mining company, surpassing Dundee Precious Metals' offer by over N$1 billion. Under the new proposal, Osino shareholders would receive C$1.90 for each common share, valuing the company at approximately N$5 billion (C$368 million). The development comes in the wake of Dundee Precious Metals Inc. (DPM)'s December definitive agreement to acquire Osino Resources for N$4 billion. DPM had offered C$0.775 in cash per Osino share along with 0.0801 of a DPM common share, implying a value of C$1.55 per Osino share and a total equity value of N$4 billion (C$287 million). Meanwhile, the premium offered by the new proposal, approximately 32% higher than the implied value of the consideration in the DPM Arrangement Agreement, underscores the enhanced value proposition presented by the foreign-based mining company. "Based on the closing price of the DPM common shares on the Toronto Stock Exchange as of February 16, 2024, the superior proposal represents a premium of approximately 32% to the implied value of the consideration offered pursuant to the DPM Arrangement Agreement and approximately 68% premium to the unaffected share price one trading day prior to the announcement of the DPM Arrangement Agreement," said Osino's President and CEO Heye Daun. https://lnkd.in/dh3TtTqq #namibia #goldmine #gold #mine #acqusition #investment Chamber of Mines Namibia Namibia Investment Promotion and Development Board (NIPDB) Tom Alweendo

HOCHTIEF subsidiary increases stake in mining services firm Hochtief’s Australian subsidiary Cimic has increased its stake in mining services company Thiess, in response to the importance of the energy transition. Cimic bought back an additional 10% equity interest in the Thiess business for A$320 million (US$208.1 million), taking its ownership of the company to 60%. Cimic sold 50% of Thiess to funds advised by Elliott Advisors (UK) in 2020, which had a put option to sell back to Cimic between January 2024 and December 2026. Following this latest deal, the put option for the remaining 40% is exercisable between April 2025 and December 2026. Hochtief said that Cimic will now strengthen its governance over the day-to-day operations of Thiess and as a result, Hochtief and Cimic will fully consolidate the business into their financial accounts. Hochtief CEO Juan Santamaría said, “Increasing our ownership of Thiess strengthens Cimic’s business profile, as it grows its commodities portfolio to include metals and minerals critical to the world’s shift to zero emissions and develops services to enable sustainable mining, reflects the strategic importance of the energy transition to the group. “Thiess is a well performing business underpinned by long-term, low-risk contracts, providing a stable income and cash flow stream.” For more information on the Construction, Mining Equipment and Allied Industries, please reach us at www.equipmenttimes.in Ramamurthy Mayavan Philip Varghese #mining #emissions #sustainable #energytransition #equipment #Manufacturing #constructionmachinery #infrastructure #constructionequipment #construction #constructionnews

via Bulls N' Bears with Matt Birney Dynamic Metals Limited has inked a landmark $20 million joint venture agreement with a 100 per cent-owned subsidiary of mining giant Mineral Resources Limited to sell up to 80 per cent of the #lithium rights at its Widgiemooltha project in Western Australia’s Goldfields region. The news immediately resonated with #ASX punters, with the company’s share price charging up to as high as 31c this morning from a previous close of 16c – a jump of more than 93 per cent. Under the terms of the deal, MinRes will pay #DYM an initial $5 million, broken down into an immediate $400,000 sign-on fee, $3.6 million on completion of the transaction and a deferred $1 million payment on July 1 next year. Learn more: https://loom.ly/nw792N4 #DynamicMetals #ASX

Kingfisher Mining Limited (ASX:KFM) has completed the sale of its 100% interest in the Boolaloo Project in WA to Black Cat Syndicate Ltd for 2 million fully paid ordinary shares in Black Cat based on a share price of $0.28 per share and valued at $560,000. The company will also receive a 0.5% net smelter return royalty on #gold and #copper produced from all the Boolaloo tenements. Boolaloo is located 35 kilometres from Black Cat’s Paulsens Gold Operation and adjoins Black Cat’s Ashburton tenure. The sale of this non-core asset enables Kingfisher to focus on exploration for #CriticalMetals at its wholly-owned projects in the highly prospective Gascoyne Mineral Field of Western Australia. More at #Proactive #ProactiveInvestors #ASX #KFM #GoldMining #MiningAustralia #BatteryMetals #CriticalMinerals http://ow.ly/5ccL105fjjS

Copper deficit is coming. Many of the majors have prioritised shareholder returns over the last decade as investors didn’t trust their capital allocation policies following the 2014 scare and prior empire building. With construction cost inflation, permitting issues, and the disconnect between equity investor investment horizons and the time frame between mining capex investment and payback, commissioning new mines is a challenge. Nice to see Anto leading the charge #antofagasta #copper #mining

Osino Resources receives new N$5bn offer, exceeding Dundee's N$4bn bid Osino Resources Corp. Resources Corp (Osino) says it has received a compelling proposal from an unnamed foreign mining company, surpassing Dundee Precious Metals' offer by over N$1 billion.   Under the new proposal, Osino shareholders would receive C$1.90 for each common share, valuing the company at approximately N$5 billion (C$368 million). The development comes in the wake of Dundee Precious Metals Inc. (DPM)'s December definitive agreement to acquire Osino Resources for N$4 billion. DPM had offered C$0.775 in cash per Osino share along with 0.0801 of a DPM common share, implying a value of C$1.55 per Osino share and a total equity value of N$4 billion (C$287 million). Meanwhile, the premium offered by the new proposal, approximately 32% higher than the implied value of the consideration in the DPM Arrangement Agreement, underscores the enhanced value proposition presented by the foreign-based mining company. "Based on the closing price of the DPM common shares on the Toronto Stock Exchange as of February 16, 2024, the superior proposal represents a premium of approximately 32% to the implied value of the consideration offered pursuant to the DPM Arrangement Agreement and approximately 68% premium to the unaffected share price one trading day prior to the announcement of the DPM Arrangement Agreement," said Osino's President and CEO Heye Daun. https://lnkd.in/dMuWknW9 #namibia #gold #twinhills #mine #investment Namibia Investment Promotion and Development Board (NIPDB) Chamber of Mines Namibia

Endeavour pours first gold at Lafigué - on budget and ahead of schedule. LONDON- and Toronto-listed gold producer Endeavour Mining has held the first gold pour at its new Lafigué mine in Côte d’Ivoire on budget and ahead of schedule just 21 months after construction launch. “The Lafigué project is the fifth project that that we have successfully built in West Africa in the last decade, which is a testament to the strength of our in-house project construction team and is a demonstration of our competitive advantage in West Africa, the world’s most prospective and largest gold production region,” said Endeavour CEO Ian Cockerill. Lafigué was expected to produce between 90,000 and 110,000 ounces of gold annually at a “sector-leading” AISC (all-in sustaining cost) of between $900 – $975/oz in financial year 2024. Production was expected to increase to about 200,000 oz in financial year 2025, said Cockerill. “We discovered Lafigué for a cost of $31m, equivalent to an industry-low discovery cost of just $12 per ounce of measured and indicated resources. “The project was quickly advanced through technical studies and permitting before construction was launched in quarter four – 2022. In less than eight years we have transformed Lafigue from a discovery to production creating a cornerstone asset that has the potential to produce over 200,000 oz a year at an industry-leading all-in sustaining cost of approximately $900/oz for at least 13 years.” Cockerill added that: “We believe this level of value creation is repeatable in West Africa and we have already identified the Assafou deposit on the Tanda-Iguela property in Côte d’Ivoire where we have delineated a top tier resource and another potential cornerstone asset which will underpin our next phase of organic growth in a few years time.” For additional reading see https://lnkd.in/ddtwAYfd #cowaninternational #executiverecruitment #mining #gateway4opportunity

CuFe Ltd (ASX:CUF) has joined forces with two other Australian mining companies – Emmerson Resources Ltd (ASX:ERM) and Tennant Minerals Ltd (ASX:TMS) – to develop copper, gold and critical metals assets in the Tennant Creek region of Northern Territory. The partnership reflects a shift toward collaboration to overcome modern regulatory, environmental and financial challenges that have made independent, smaller-scale developments less viable. Collectively, the companies control 7.3 million tonnes of mineral resources at average grades of 0.6 g/t gold and 1.7% copper. By pooling resources, the companies can leverage the pooled assets while sharing costs. More at #Proactive #ProactiveInvestors #ASX #CUF #Copper #Gold #CriticalMinerals #Mining #BaseMetals #PreciousMetals http://ow.ly/LB5O105N9Hf

BHP and Lundin Mining Corporation have announced a joint acquisition of Filo Corp., owner of the world-class #FiloDelSol copper-gold project, located along the border of the San Juan Province in #Argentina 🇦🇷 and the Atacama Region of #Chile 🇨🇱 . The deal, valued at approximately $3 billion (C$4.1 billion), underscores the intense competition for securing large-scale, long-term copper supply. By acquiring #FiloDelSol, BHP and Lundin Mining Corporation are making a significant investment in a project with huge copper potential. This project, which will require significant capital and time to bring into production, reflects the industry's long-term outlook on copper demand. 🔋 #FiloDelSol is an advanced-stage exploration project boasting a unique geological setting with multiple mineralization styles, including porphyry-epithermal with copper, gold, and silver enrichments. Drilling has intersected high-grade mineralization, with some holes exceeding 1km in depth and assaying over 1.0% copper equivalent. These exceptional results highlight the project's immense potential. 🚀 BHP and Lundin Mining Corporation have also agreed to form a 50/50 joint venture to develop the #Josemaria copper project, currently 100% owned by Lundin. The proximity of the two projects offers opportunities for shared infrastructure, enhancing the overall value of both ventures. With our #SaaS platform, you can explore all mining projects and available opportunities. Don’t miss out on the chance to dive into #Andes potential! 🌟 We are powered by ESRI Schweiz AG, Amazon Web Services (AWS), Maxar Technologies. 🤝 #mining #copper #gold #investment #jointventure #BHP #lundinmining #filodelsol #argentina #chile