Proactive’s Post

It’s been a(nother) busy week at Belltree Corporate… 🔔 Mitre Mining Corporation announced a highly successful A$10.5m capital raise this morning to accelerate resource growth at its Cerro Bayo Silver-Gold Project in Chile. The placement received strong domestic and overseas institutional support from new investors and existing shareholders, with significant scaling required to manage demand. 🔔 Midas Minerals issued the first tranche of fully paid ordinary shares as part of its ~A$1.1m capital raise announced last week. Proceeds will be used to fund exploration at its lithium and gold projects in Canada and Western Australia. 🔔 FireFly Metals released the latest exceptionally high-grade copper drilling results from its Green Bay Copper-Gold Project in Newfoundland, Canada. The results include the first drilling from the development drill drive and highlight outstanding potential for more resource growth. 🔔 FireFly Metals also announced that it has strengthened its executive team with the appointment of highly experienced Chief Financial Officer Chen Sun, and we look forward to working closely with her at this exciting company. 🔔 Energy Transition Minerals expanded its exploration footprint in James Bay, Quebec with the acquisition of additional mineral claims adjacent to its Solo Lithium Project which are prospective for lithium. 🔔 Alicanto Minerals Ltd (ASX: AQI), Bellavista Resources, Energy Transition Minerals, FireFly Metals, Midas Minerals, Mitre Mining Corporation and Riedel Resources all released their quarterly activities and cashflow reports. Cygnus Metals got theirs out last week 😉 And of course, there is the usual prepping for Board meetings, management reports, dealing with equity securities etc. etc. Can’t say we know the meaning of the word “bored” around here! #BelltreeCorporate #capitalraisings #compliancereviews #explorationresults #tenementacquisitions #quarterlyreports #dayinthelife #companysecretary #neveradullday

With firm commitments to raise $4.1 million in a highly sought-after placement, Nexus Minerals Ltd (ASX:NXM) is putting itself in a strong position to advance its Wallbrook #Gold Project in the north-eastern Goldfields of WA. Following the raise, the company will have cash of around $7.2 million to go towards ongoing aircore, reverse circulation and diamond drilling, as well as geophysical surveys, general exploration activities and mine studies at Wallbrook.  Funds raised will also support minimum expenditure requirements at the Pinnacles Gold Project and its NSW and Victorian projects. Just a week ago, the company reported early regional exploration success at Wallbrook, receiving broad, high-grade near-surface assays demonstrating strong growth opportunities. More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks #MiningAustralia http://ow.ly/hzmA105HQ0U

Antipa Minerals Limited (ASX:AZY) will bank around $17 million after it agreed to binding terms for the sale of some 32% of its non-controlling interest in the Citadel Joint Venture Project to joint venture partner Rio Tinto Exploration.  Following the sale, Antipa will have around $23 million to advance its 100%-owned Minyari Dome Gold-Copper Project in the Paterson Province of Western Australia, which includes drilling programs and development appraisal-related workstreams. The #CitadelJointVenture, established in 2015, covers 1,200 square kilometres in the Paterson Province and contains a mineral resource estimate (MRE) across its Calibre and Magnum deposits, which collectively hold 127 million tonnes of resources. This includes 2.84 million ounces of #gold at 0.71 g/t, 173,000 tonnes of #copper at 0.13%, and 2.1 million ounces of #silver at 2.1 g/t. Since the project began, Rio Tinto has invested over A$47 million in... More at #Proactive #ProactiveInvestors #ASX http://ow.ly/4HQn105Ixpu

USD$3.5M Cash Sale Formalises Growth of WA Assets Labyrinth Resources Limited Chief Executive Officer, Jennifer Neild said, “The Sale of the Canadian Assets ensures Labyrinth is well placed to enter a new stage of exploration and growth in Western Australia. The cash injection into LRL provides significant optionality in the prolific WA Goldfields region that hosts the Company's 51% owned Comet Vale project. We look forward to communicating Labyrinth's strategic intent in the coming months.” Labyrinth Resources Limited (ASX: LRL) (‘Labyrinth’ or ‘the Company’) advises that it has agreed to sell the Labyrinth and Denain gold projects in the Abitibi region of Quebec, Canada (‘Projects’) along with related assets and mining information (together, ‘the Canadian Assets’) for US$3.5 million cash. https://lnkd.in/g-ty6N9B

Western Gold Resources Scoping Study released to has demonstrated the attractive value and potential cash generation of the Gold Duke Project over a broad range of gold prices. Importantly there is significant further upside as the study only includes 51% of the published resource of the Project. #asx #gold

🚨 Silvercorp Metals Deal for Adventus Mining Stalled by Environmental Lawsuit 🚨 Silvercorp Metals Inc. has provided a crucial update regarding its proposed acquisition of Adventus Mining Corporation. As announced on April 26, 2024, Silvercorp entered into an arrangement agreement to acquire all issued and outstanding common shares of Adventus via a plan of arrangement. However, a Material Adverse Effect has arisen, stemming from litigation reported by Adventus on June 17, 2024, which seeks to void the environmental license of the Curipamba-El Domo project. 📌 The Challenge Adventus is facing a lawsuit that challenges the environmental license for their Curipamba-El Domo project in Ecuador. Silvercorp considers this a "Material Adverse Effect" as defined in their agreement, potentially jeopardizing the entire acquisition. 📌 Silvercorp's Response Silvercorp has been diligently analyzing the lawsuit and its implications. They remain open to working with Adventus to find a solution that allows the deal to proceed if the closing conditions can be met. 📌 Key Dates The original deadline for finalizing the acquisition is July 31st, 2024. Silvercorp has expressed its willingness to discuss extending this deadline. Stay tuned for more updates on this acquisition. #Silvercorp #AdventusMining #AcquisitionUpdate #MiningNews #Investment #CSR #ESG #CuripambaElDomo #ResponsibleMining #StrategicGrowth #MiningIndustry #SilverMining #GoldMining #LeadMining #ZincMining #SustainableMining #CorporateStrategy #ShareholderValue #FreeCashFlow #MergersAndAcquisitions #OrganicGrowth

Resilience Resources is seeking to acquire an operational mine, tenements, processing plant and mine infrastructure assets over $200M currently operated under a care & maintenance plan. The mine is located approx. 150km south of Townsville, Queensland. To date, more than $380M of gold have been mined from the gold mine and satellite deposits show significant regional exploration potential. The tenement package expands 790km² and includes 11 exploration licences. To date, more than $12M has been spent on exploration/resource definition by the previous owner, having owned the project for the last 2 years delivering 5 satellite ore deposits and growing mineral resource inventory to over 1m ounces of gold equivalent. The mine has multiple ore sources with 4 deposits fully permitted for mining today with all approvals required in place and a large development opportunity with significantly high-grade deposits. Invest in Resilance Resources: https://hubs.la/Q02fX0bG0

SolGold saves $1bn in Cascabel upfront cost with phased mine development https://lnkd.in/dXHCGAiR

North Stawell Minerals is pleased to present our quarterly report for June 2024. Highlights include the appointment of Mr. Campbell Olsen as interim CEO bringing a wealth of Victorian mining experience to NSM’s management team. Mr. Olsen commented: “A challenging quarter for NSM, but we’ve continued to progress our corporate and operations positions, with focus on capital raising to support operations. Activities have been tailored to accommodate industry-wide junior exploration funding headwinds. Planning remains focused on drill-testing of two key prospects –Wildwood and Darlington – when access and funding permit. Both targets remain priorities following excellent results from the most recent drilling. At Wildwood, gold-bearing structures intersecting the target Wildwood basalt can be extended down-plunge into untested areas of the shallow Mineral Resource (ASX:NSM 23 June 2023). The target includes an opportunity for mineralisation to spill onto the flanks of the basalts – a critical requirement for increased tonnes that would significantly upgrade the identified mineralisation.” View the announcement in full here: https://rb.gy/flltld #gold #exploration #nsm #northstawellminerals #bettersciencebetterexploration

We have updated our research coverage of Matsa Resources Limited (ASX: MAT). Matsa maintains a gold Resource of 936Koz at 2.5g/t and is close to producing from its Devon gold mine, and is finalising the mining and processing contracts and obtaining funding. Devon is small but material, with cash flow likely to exceed the company’s current market capitalization, and a similar development model could be used for the company’s 100%-owned Fortitude deposit. The forecast cash flow will strengthen the balance sheet and fund further exploration for Western Australian gold and drilling walk up targets in Thai lithium. Our valuation range is A$0.10/sh to A$0.16/sh at a gold price of A$3500. Our base-case valuation is A$0.14/sh and assumes Devon developed as a 50% MAT JV, Fortitude 100% MAT to a toll processor with exploration upside valued at a conservative A$10M. Currently, Matsa’s share price is equivalent to the NPV of 50% of Devon only. Matsa can adopt a low-risk strategy (our base-case) where Devon is developed as a 50% joint venture with BML, generating sufficient cash to repay all current debt, develop the Fortitude mine for toll processing and still have spare cash for working capital and exploration. The alternate strategy is for Matsa to develop Devon as 100%-owner, borrowing to do so, and generate sufficient cash to build a 600ktpa processing plant at Fortitude. The later strategy involves more debt, more risk, and delays the arrival of Fortitude cash flow, but provides a long-term lower unit cost processing solution for development of Matsa’s gold exploration properties. As an explorer Matsa has delivered, with very exciting upside at Fortitude North. Against its 2020 gold Exploration Targets the company has delivered within its published range on tonnes and ounces. Fortitude North has yet to deliver a Resource but remains on track to deliver within range, or possibly exceed it, because drilling at the north end is booking wide intersections well outside the Exploration Target geological model. #gold #ausbiz #equities #exploration #mining #commodities #resources