Efficacy News’ Post

🤝 Disposal of Victoria Goldfields Joint Venture Interest Read the full announcement here: https://bit.ly/3RtJZmv Power Metal Resources PLC (🇬🇧 AIM: POW, 🇺🇸 OTCQB: POWMF) is pleased to confirm that, further to previous announcements, the conditions precedent of the transaction have now either been fulfilled or waived. Completion of the disposal of #POW’s 49.9% interest in New Ballarat Gold Corporation plc will occur within five days of 11 June 2024. Following Completion: 1️⃣ Power Metal will transfer its holding in NBGC to Red Rock Resources plc (“RRR”) 2️⃣ RRR will deliver £250,000 in convertible loan notes with a conversion price equal to the price of any placement of new ordinary shares of RRR raising proceeds of over £200,000. Should conversion not be undertaken within six months of 8th March 2024, the CLNs of £250,000 are repayable immediately as cash 3️⃣ RRR will deliver 166,666,667 new ordinary shares in RRR to Power Metal, with accompanying warrants exerciseable at 0.25p per share in RRR CEO of Power Metal, Sean Wade, commented: "...For Power Metal, this disposal will further enable the Company to focus and direct its managerial, operational and financial resources on retained high value business interests and new opportunities...” #disposal #POWMet #exploration

The growth in #copper #exploration spend is met with dwindling discoveries. Time to leverage modern digital technologies such as #AI and #Machine #Learning to reduce the cost of exploration?

“What excites us the most at Novo is that the Egina JV tenements are considered highly prospective for significant intrusion-related gold deposits, with similar attributes to the 12.7Moz Au (JORC 2012) Hemi Gold Project,” says Novo co-chairman and acting CEO Mike Spreadborough. The Egina Gold Camp is Novo’s highly prospective gold belt in the Pilbara and includes the priority Becher and Nunyerry projects.  DYOR on Novo Resources Corp on Samso Insights on Patreon: https://hubs.ly/Q02q-GDf0 📌Registration on our Samso Insights on Patreon is free. Support us by getting on Samso Insights on Patreon. #Samso #Investments #CoffeeWithSamso #RoosterTalk #SamsoInsights #NoelOng #MineralExploration #ASX #compellingASXstories #Patreon #NovoResourcesCorp #EginaJV #NVO #Gold #GoldBelt #Pilbara

“What excites us the most at Novo is that the Egina JV tenements are considered highly prospective for significant intrusion-related gold deposits, with similar attributes to the 12.7Moz Au (JORC 2012) Hemi Gold Project,” says Novo co-chairman and acting CEO Mike Spreadborough. The Egina Gold Camp is Novo’s highly prospective gold belt in the Pilbara and includes the priority Becher and Nunyerry projects.  DYOR on Novo Resources Corp on Samso Insights on Patreon: https://hubs.ly/Q02q-K7R0 📌Registration on our Samso Insights on Patreon is free. Support us by getting on Samso Insights on Patreon. #Samso #Investments #CoffeeWithSamso #RoosterTalk #SamsoInsights #NoelOng #MineralExploration #ASX #compellingASXstories #Patreon #NovoResourcesCorp #EginaJV #NVO #Gold #GoldBelt #Pilbara

Namibia Critical Metals terminates transaction with Sylla Gold Corp Namibia Critical Metals Inc. has mutually terminated the share purchase agreement with Sylla Gold Corp. (TSX.V: SYG) to divest four non-material gold properties in Namibia. This termination affects the previously announced transaction on March 19, 2024, which was updated on June 13, 2024. The decision to end the agreement suggests a change in strategy or market conditions for both companies. This development may impact Namibia Critical Metals' portfolio management and future plans for these gold properties. https://lnkd.in/d2b9JAg4

Silver Mines Limited (ASX:SVL) (ASX:SVL, OTC:SLVMF) has closed its Share Purchase Plan (SPP), having raised $6 million before costs. The SPP attracted significant interest and followed a share placement that raised A$8 million before costs, significantly exceeding its A$2 million target. The demand for both the Placement and the SPP, highlights the strong support and loyalty of Silver Mines' shareholder base.  As a result, Silver Mines will issue 44,444,854 new fully paid ordinary shares, constituting approximately 3.04% of the company’s current issued capital.  The SPP shares are set to be issued at A$0.135 each, matching the placement share price, on March 12, 2024,. The funds raised will go to developing the Bowdens Silver Project. More at #Proactive #ProactiveInvestors #ASX #OTC #SVL #SLVMF #silver #silverexploration #smallcapstocks http://ow.ly/BcbL105l2Cl

#ASXNews UPDATE ON COMPLETION OF DUE DILIGENCE FOR DISPOSAL OF THE COMETA COPPER PROJECT TO HOT CHILI LIMITED Bastion Minerals Limited advises that the exclusivity period for ASX-listed Hot Chili Limited (ASX: HCH, Hot Chili) to complete due diligence and enter into an Option Agreement to acquire 100% of the Cometa Project (DD Period) referred to in the Cometa Option Announcement has now been extended by agreement between the parties to 19 February 2024. • The exclusivity period for ASX-listed Hot Chili Limited (ASX: HCH, Hot Chili) to complete due diligence and enter into an Option Agreement has now been extended by agreement between the parties to 19 February 2024. • The key outstanding requirement to finalising the Option Agreement is a shareholder meeting of SCM Cornet Constelación, a 99% owned subsidiary of Bastion to approve the Option Agreement (Shareholder Meeting) which has been called for 29 January 2024. Full announcement: https://loom.ly/cZsL_nc #BMO #BastionMinerals #ASX

Discoveries are there to be made. Requires technical diligence, nimbleness, a bit of time and capital investment. The big mining companies have the capital but due to their size and need for order are not ideal explorers. They are great at taking discoveries forward. The challenge (in Australia at least) right now is with interest rates high banks offer great no risk returns. So those technically apt nimble juniors are getting beaten down on valuation and being forced to offer a sweat deal to secure capital. This of course is value distructive to existing investors and difficult to see as encouraging the flow of supportive capital into the exploration space.

Investment in BC mineral exploration broke another record in 2023, further cementing BC's reputation as a top jurisdiction. Amarc $AHR.V | $AXREF will be among the leaders in this trend, advancing its high potential BC #copper-#gold districts in 2024! https://hubs.li/Q02fkVGD0

White Cliff Minerals Limited (WCN) in the The Australian Financial Review! We are proud to share that White Cliff Minerals Limited (WCN) was prominently featured in The Australian Financial Review over the weekend. The feature by Amanda Ellis delves into our exciting progress in Canada’s underexplored frontiers, where our recent assays have returned some of the highest grade copper, gold, and silver rock-chip samples in recent history. Our strategic positioning and early-mover advantage have already begun to yield remarkable results, particularly at the Great Bear Project. With an impressive silver find of 75,439g/t, we're proving that this ground is as rich as we anticipated. Stay tuned as we continue to uncover the potential of these promising sites and deliver value to our shareholders. The next steps are even more exciting as we prepare for further drilling at both the Great Bear and Rae projects. Troy Whittaker Roderick McIllree Dan Smith Eric Sondergaard Nicholas Ong #WCN #AFR #Canada #Silver #Gold #Copper #ASXNews #ASX