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Alvo Minerals Limited (ASX: ALV) – Trading Halt
Description
The securities of Alvo Minerals Limited (‘ALV’) will be placed in trading halt at the request of ALV, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 14 June 2023 or when the announcement is released to the market.
Inderprit Singh
Compliance Officer, Listings Compliance
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This article includes content from Alvo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Significant Gold, Copper and Nickel Soil Anomalies at Lady Grey Project
Lanthanein Resources Limited (ASX: LNR) (“Lanthanein” or the “Company”) is pleased to announce the gold and base metal results from the recent tenement wide soil sampling programme at the Lady Grey Lithium Project (“Lady Grey”) directly adjacent to Covalent Lithium’s (SQM & Wesfarmers) Earl Grey Mine, 189Mt @1.53% Li2O¹ at Mount Holland in the Forrestania Greenstone Belt. The programme collected 1,893 samples and has identified multiple coincident gold, copper and nickel anomalies (Figure 1, 2 and 3).
- New Gold, Copper and Nickel soil anomalies identified in the recently completed soil sampling programme
- >2km long gold anomaly coincident with structural flexure
- Peak result of 256ppb Au, with a total of 87 samples returning ≥25ppb Au
- Historic Bounty Gold Mine which produced ~1.3moz Au on Covalent Lithium’s (SQM & Wesfarmers, 50/50) Earl Grey Mine, 189Mt @1.53% Li2O¹ Mount Holland mine site located adjacent to Lady Grey Project
- Peak result of 170ppm Cu, with a total of 300 samples returning ≥50ppm Cu
- Peak result of 263ppm Ni, with a total of 464 samples returning ≥100ppm Ni
- Strong spatial correlation between Gold, Copper, Nickel and Sulphur anomalism
- Exploration work programmes targeting drilling mid year
Mr Brian Thomas, Technical Director of Lanthanein commented: “We are greatly encouraged by the identification of multiple new gold, copper and nickel anomalies picked up by the recent tenement wide soil sampling programme which adds another dimension to the project wide prospectivity following the recent discovery of two large Lithium anomalies, Godzilla and Avenger. The Forrestania region is well known historically for its significant gold production with the old Bounty Mine producing ~1.3moz Au, plus the region has proven nickel endowment with the IGO’s, Forrestania Operations ~30km to the south. We will now accelerate our work programmes and approvals processes to be drilling these targets by mid-year.”
Figure 1: New Gold Anomalies at the Lady Grey Lithium Project.
Figure 2: New Copper Anomalies at the Lady Grey Lithium Project.
Figure 3: New Nickel Anomalies at the Lady Grey Lithium Project.
Figure 4: New Sulphur Anomalies at the Lady Grey Lithium Project.
UltraFine+TM Soil Sampling Programme
The survey was completed on a minimum spacing of 400m x 100m, with a total of 1,893 soil samples collected.
Figures 1 through 4 show the soil anomalies delineated from the sampling results. The five gold soil anomalies in Figure 1, represent areas with >50ppb Au – considered highly anomalous using this soil sampling technique. The largest gold anomaly is extends over 2km of strike and is located in a highly favourable structural setting. The copper and nickel anomalies are spatially adjacent to each other along with the high sulphur with a peak value of 5.33% and 50 samples >0.05% which would indicate the presence of weathered sulphides. Exploration reconnaissance and further geochemical sampling is planned to investigate the potential for magmatic sulphides and the presence of gossanous outcrop or subcrop.
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This article includes content from Lanthanein Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
2024 Energy Transition Metals Summit Presentation
This Presentation and any accompanying verbal Presentation (together the Presentation) has been prepared by Culpeo Minerals Limited (“Culpeo” or “the Company”) and approved by the Board of the Company. The information contained in the Presentation (Information) is a summary only and should be read in conjunction with any oral briefing and all other documents provided to you by the Company. The Information is current as of 29 April 2024 and the Company does not undertake to provide any additional or updated information, whether as a result of new information, future events or results or otherwise. By receiving the Presentation, you acknowledge and represent to the Company that you have read, understood and accepted the terms of this disclaimer.
The Company has prepared the Presentation based on information available as of 29 April 2024. No representation or warranty, express or implied, is made as to the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Neither Culpeo, its related bodies corporate, shareholders or affiliates, nor any of their respective officers, directors, employees, affiliates, agents or advisers (Agents) guarantee or make any representations or warranties, express or implied, as to or take responsibility for, the currency, accuracy, reliability, completeness or fairness of the information, opinions and conclusions contained in this Presentation. Culpeo does not represent or warrant that this Presentation is complete or that it contains all material information about Culpeo or which a prospective investor or purchaser may require in evaluating a possible investment in Culpeo or acquisition of shares. To the maximum extent permitted by law, Culpeo and its Agents expressly disclaim any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of information contained in this Presentation, or otherwise arising in connection with it.
Any forward-looking statements in this Presentation, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of Culpeo and which are subject to change without notice and could cause the actual results, performance or achievements of Culpeo to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to future performance and recipients of this Presentation are cautioned not to place undue reliance on such forward-looking statements.
The information contained in this Presentation is for information purposes only, does not constitute investment or financial product advice (nor taxation, accounting or legal advice) and is not intended to be used as the basis for making an investment decision. In providing this Presentation, Culpeo has not considered the objectives, financial position or needs of any particular recipients. Before making an investment decision prospective investors should consider the appropriateness of the information in this Presentation having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances.
This Presentation is not a prospectus, product disclosure statement or other offering document under Australian law or any other law (and will not be lodged with the Australian Securities and Investments Commission, or any other foreign regulator) and is not, and does not constitute, an invitation or offer of securities for subscription, purchase or sale in any jurisdiction. In particular, this Presentation does not constitute an invitation or offer of securities for subscription, purchase or sale in the United States or any other jurisdiction in which such an offer would be illegal. The securities referred to in this Presentation have not been, and will not be, registered under the U.S. Securities Act of 1933 as amended or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly in the United States.
The information in this Presentation is strictly confidential. It may not be disclosed, reproduced, disseminated, quoted or referred to in whole or in part, without the express consent of Culpeo.
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This article includes content from Culpeo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Miramar Secures EIS Funding for Bangemall Ni-Cu-Co-PGE Drilling
Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that it has been successful in securing funding under the WA Government’s Exploration Incentive Scheme (EIS) for drilling at the Company’s 100%-owned district-scale Bangemall Projects in the Gascoyne region of Western Australia.
Miramar has been advised by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) that it has been awarded up to $180,000 towards the drilling campaign, which will target Norilsk-style nickel, copper, cobalt and platinum group element (Ni-Cu-Co-PGE) mineralisation at the Mount Vernon and Trouble Bore Projects for the first time (Figure 1).
Miramar is exploring for mafic intrusion-hosted Ni-Cu-Co-PGE sulphide mineralisation related to 1070Ma aged Kulkatharra Dolerite sills, part of the Warakurna Large Igneous Province and the same age as the large Nebo-Babel deposits in the West Musgraves.
Miramar’s Executive Chairman, Mr Allan Kelly, said the funding validated the Company’s exploration model and the potential district-scale opportunity within the Bangemall Project, and looked forward to the maiden drilling campaign.
“Over the last 24 months, the Company has advanced the Bangemall Projects from an exploration concept to regional-scale area selection followed by collection of project-scale datasets and, more recently, to delineation of individual drill targets through ground EM surveys,” Mr Kelly said.
“We have the opportunity to make a discovery of a new style of mineralisation in an underexplored geological province where we are the dominant landholder,” he added.
Upcoming work programme
Miramar’s initial aim is to show “proof of concept” of the Norilsk-style deposit model by discovering Ni-Cu- Co-PGE sulphide mineralisation.
- Upcoming work includes:
- Completion of heritage surveys where required
- Systematic rock chip sampling
- RC drilling
- Working towards grant of various tenement applications
Miramar already has Programme of Work (POW) approval for drilling at Mount Vernon and is currently waiting on approval for Trouble Bore.
Figure 1. Mount Vernon and Trouble Bore Projects showing airborne and ground EM anomalies in relation to Kulkatharra Dolerite sills.
Figure 2. Schematic diagram showing relationship between dolerite sills (green) and sedimentary units of the Edmund and Collier Basins, and the relative position of Miramar’s Ni-Cu-Co-PGE targets (red).
About the Ni-Cu-Co-PGE Bangemall Project
Miramar’s 100%-owned Bangemall Project comprises granted Exploration Licences and Applications covering approximately 2,190 km2 within the Gascoyne region of Western Australia.
The Proterozoic Edmund and Collier Basins have been intruded by numerous 1070Ma aged Kulkatharra Dolerite sills, part of the Warakurna Large Igneous Province, and the same age as the Giles Complex which hosts the large Nebo and Babel Ni-Cu deposits in the West Musgraves.
The region has been identified by both the Geological Survey of Western Australia and Geoscience Australia as having high prospectivity for Ni-Cu-PGE mineralisation associated with the Kulkatharra Dolerite sills, similar to the giant Norilsk-Talnakh Ni-Cu-PGE deposits in Russia.
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This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Cashflow Report
Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) has released its Quarterly Cash Flow Report.
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This article includes content from Culpeo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Activities Report for the Period Ended 31 March 2024
Culpeo Minerals Limited (“Culpeo” or the “Company”) (ASX:CPO, OTCQB:CPORF) is pleased to report on its activities for the Quarter ended 31 March 2024 (the Quarter).
HIGHLIGHTS
- Discovery of large copper-gold porphyry system at La Florida Prospect (Fortuna Project)1:
- Surface sampling results returned grades of up to 3.96% Cu and 2.61g/t Au.
- Large 1.7km x 0.5km mineralised footprint.
- Maiden drill program at El Quillay North Prospect returned shallow, wide copper mineralisation2:
- 26m @ 0.81 CuEq from 29m, including 4m @ 1.87% CuEq from 51m; and
- 5.8m @ 0.78% CuEq from 15.2m.
- El Quillay South Prospect strike length extended to 1,200m and up to 100m wide
- Discovery of new high-grade mineralised trend at El Quillay East Prospect4:
- Grades up to 3.29% Cu and 1.32g/t Au and all samples >1.0% Cu from rock chip sampling
- Mineralised footprint spans an initial area of 250m x 150m with and open in all directions
- El Quillay East is a separate parallel structure to the extensive El Quillay Fault.
- Culpeo’s interest in the high-grade Lana Corina Project increased to 50%5.
- Equity capital raisings totaling A$2.5M (before costs) to existing and new sophisticated and high-net-worth investors.
- Cash balance of A$1.3M and no debt as at 31 March 2024 adequately funds exploration programs.
Operating Activities
During the Quarter, Culpeo’s exploration activities were primarily focused on the Fortuna Project, targeting mineralisation along strike and proximate to the El Quillay Fault zone which has been identified to host copper and gold mineralisation over a strike length of >3km.
Figure 1: Plan view of the Fortuna and Lana Corina Project areas
La Florida Prospect
The La Florida Prospect is a newly defined north-south trending belt of copper-gold mineralisation located within the northern sector of the Fortuna Project, measuring approximately 1.7km long by 0.5km wide (Figure 2). Mineralisation is hosted within andesitic volcanic rocks that have been intruded by quartz- feldspar porphyry lithologies. During the Quarter, a litho-geochemical survey was undertaken to characterise the nature and extent of the mineralised system. Rock chip samples were collected in areas including historic small scale mine workings, outcrop and subcrop on hills where bedrock/fresh rock was visible. All 14 rock chip samples returned anomalous copper and gold results, as shown in Appendix C.
The best copper result of 3.96% Cu was returned from CPO0008688, located in the northern part of the interpreted porphyry system where strong surface mineralisation was identified in the form of malachite and chrysocolla. This sample also returned a gold result of 1.17g/t Au. Of significance was CPO0008692, which returned high-grade copper and gold at 3.18% Cu and 2.61g/t Au1. The sample was taken from historical workings in fresh, unoxidised mineralisation.
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This article includes content from Culpeo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Anglo American Rejects BHP's "Undervalued" US$38.8 Billion Bid
London-based Anglo American (LSE:AAL,OTCQX:AAUKF) has rejectedmining behemoth BHP's (ASX:BHP,LSE:BHP,NYSE:BHP) US$38.8 billion bid to acquire the company.
"The BHP proposal is opportunistic and fails to value Anglo American's prospects, while significantly diluting the relative value upside participation of Anglo American's shareholders relative to BHP's shareholders," said Anglo Chairman Stuart Chambers in a Friday (April 26) statement. BHP's offer for the company was made public on Thursday (April 25).
The proposal, whose aim is to create the world's largest copper miner while divesting Anglo's iron ore and platinum assets in South Africa, has been met with mixed reactions from market watchers.
BHP is keen to gain access to Anglo's copper mines in Chile and Peru. Combined, their output would total around 2.6 million metric tons annually, surpassing competitors such as Freeport-McMoRan (NYSE:FCX) and Chile's Codelco.
Will BHP kick off mega M&A deals?
BHP's offer of 25.08 pounds (US$31.39) per Anglo share is a premium of 31 percent from Wednesday's (April 24) closing price. If completed, it would be BHP's second big acquisition in a year after its 2023 purchase of OZ Minerals.
It would also be the first mega deal among the world's largest diversified miners in over a decade.
After years of caution following a series of failed transactions, including an attempted acquisition of Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) in 2007, BHP may now be poised to lead a resurgence in M&A activity.
Beyond copper, the proposal also holds implications for BHP's potential venture into the diamond business, as Anglo American holds an 85 percent stake in diamond giant De Beers.
Unlike Anglo American Platinum and Kumba Iron Ore, which BHP wants to see distributed to shareholders before proceeding, Anglo's diamond business would be subject to a strategic review post-transaction.
Industry reactions and future implications
Todd Warren, an Anglo shareholder and portfolio manager at Tribeca Investment Partners in Sydney, said BHP’s first offer only sought to feel out Anglo’s stance, adding that he does not expect BHP to give up easily.
"With regards to a price, I think it's pretty clear that the initial shot fired is just that. It’s just the first shot — it's not their best and final. We would need to see more money on the table before we sold our shares,” he said.
As mentioned market analysts and industry leaders have offered mixed reactions to the proposed deal. While some shareholders have expressed concern over the quality of BHP's bid, others anticipate further interest in Anglo, potentially igniting additional large-scale consolidation within the mining sector.
Analysts at Jefferies, led by Christopher LaFemina, told Fortune that BHP’s first bat will lead to more bids emerging.
They indicated that an offer valuing Anglo at US$42.6 billion, representing a 28 percent premium based on its latest share price, could be sufficient to push the deal across the finish line.
BHP's 2023 copper production of about 1.2 million metric tons on an equity basis surpasses Anglo's output of 826,000 metric tons; combined they would have a substantial 10 percent share of global mine supply.
However, analysts have cautioned that antitrust issues may pose a significant challenge, as governments often view copper as a strategic mineral. The proposal for Anglo may also prompt other mining giants to make moves.
Rio Tinto, the second largest mining company, has been actively investing in copper production, while Glencore (LSE:GLEN,OTC Pink:GLCNF) made an unsuccessful bid for Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK) last year before eventually reaching a deal for the Canadian company's coal assets.
For their part, BHP investors remain optimistic about the prospect of restructuring the offer to secure the deal.
"I am a bit surprised that the deal is not an agreed deal. It likely means BHP will need to offer more to win over shareholders and management and risks creating unhelpful animosity," said Pendal portfolio manager Brenton Saunders in comments to Reuters.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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