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![Augustus Minerals](https://investingnews.com/media-library/augustus-minerals.png?id=50685505&width=980&quality=80)
Quarterly Activities Report for the period ending 30 June 2024
Highlights
- Co-funded drilling grant up to $110,000 for 2 x 700m deep diamond drill holes under the Exploration Incentive Scheme (EIS) awarded for Minnie Springs Cu-Mo prospect. Drilling is planned for August.
- Potential for higher grade Cu and Mo zones identified at depth below “tilted” porphyry model.
- Two new prospects, Tiberius and Claudius, have returned high-grade copper and significant silver assays in rock chips from recent field work.
- High grade assays up to 17.8% Cu and 282g/t Ag have been discovered at Tiberius, currently 3m wide and extending for over 200m along strike.
- Claudius, 11km south of Tiberius, comprised of several parallel zones over a 100m by 300m area, returned grades up to 6.6% Cu and 86g/t Ag.
- UTS Geophysics to conduct a VTEM Max survey over several Copper, Cu-Ni-PGE, Broken Hill style and Uranium targets along the money Intrusion and within proximity of the prospective 85km long Ti-Tree Shear.
- The Money Intrusion is prospective for Cu-Ni-PGE mineralisation.
- The Munaballya Well area which shows potential for Uranium mineralisation.
- Coo Creek shows similar lithologies and alteration to Broken Hill Style massive sulphide mineralisation.
- In July ongoing field work returned high grade rock chip assays
- 35% copper and 236 g/t silver from Tiberius prospect.
- 32% copper, 3.26 g/t gold and 129 g/t silver from the South Snowy prospect.
- 10.1g/t gold from rock chips from the Justinian prospect.
- Mapping and field work is continuing around these prospects as well as new targets identified from a combination of geology, geophysics and multi-spectral image analysis.
- Cash position of $3.02M as of 30 June
- 16 July 2024 the Company raised an additional $1.66M through a placement.
Figure 1 Location of the prospects and planned VTEM Survey Areas.
EIS Grant for Minnie Springs Copper Porphyry Drilling
A co-funded drilling grant of up to $110,000 for 2 x 700m deep diamond drill holes under the WA Government’s Exploration Incentive Scheme (EIS) was awarded for Minnie Springs (Figure 1). Drilling is planned for August.
In preparation for the deeper drilling, modelling of the Minnie Springs system in an integrated manner by incorporating recent drilling, alteration mapping and geophysics has highlighted both potential extensions to existing near surface Mo rich zones, as well as the potential for high grade Cu-Mo zones at depth.
Southern Geoscience Consultants (SGC) reprocessed historic gradient array induced polarisation survey (GAIP) and a dipole-dipole induced polarisation survey (DDIP) conducted by Equatorial Minerals in 1997. A gradient array survey was conducted over both the Mo and Cu zones, highlighting elevated chargeability over the Mo rich zone.
This article includes content from Augustus 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.
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Augustus Minerals
Diversification can be key to a profitable mining and exploration strategy. While there's no shortage of companies that have experienced great success by focusing on a single commodity, there's always an element of risk to that approach. There is always the risk that certain commodities will fall in price whilst others rise. Augustus Minerals, a newly listed exploration company on the ASX (AUG) is cognizant of this fact. An exploration company based in Western Australia, Augustus has acquired a 100-percent interest in a land package covering some 3,600 square kilometers in Western Australia's Upper Gascoyne region. Although traditionally known as a source of base metals, gold and uranium, the Gascoyne is rapidly emerging as a prime target for rare earths and lithium discoveries.
As an early mover to the region, Augustus’s vast landholding is highly prospective for lithium, rare earths, copper and gold. Its Ti-Tree project contains 85 kilometers of the Ti Tree and Mingabar shear zones, with extensive, untested, multi-element mineralization and surface anomalies.
The Gascoyne region is a large emerging critical mineral province with several deposits having been discovered in the last few years. These include multiple Ironstone REE discoveries by Dreadnought Resources (ASX:DRE), Hastings Technology's (ASX:HAS) Yangibana Ironstone REE project and Lanthanein Resources' (ASX:LNR) Lyons Ironstone REE project, as well as a large lithium discovery at Delta Lithium's (ASX:DLT) Yinnetharra location.
Directed by a highly experienced management team with extensive knowledge about mining and exploration in the Gascoyne, Augustus's exploration program will focus on more than 50 priority targets already identified by the company. These include potential lithium bearing pegmatites, REE-rich ironstones and shear/porphyry-hosted copper systems. Thus far, the company has completed multiple geophysical surveys and collected more than 15,000 soil samples.
Company Highlights
- Augustus Minerals is an Australian exploration company focused on the highly-prospective Gascoyne region of Western Australia.
- The company has 100 percent ownership of a land package covering 3,600 square kilometers.
- Augustus has identified multiple high-priority lithium, rare earth and copper targets throughout its project, with strong mineralization intersected at multiple locations across multiple commodities.
- Augustus's leadership team has the benefit of significant local knowledge regarding exploration of the Gascoyne province.
Key Asset
Ti Tree Project
Situated in the Shire of Upper Gascoyne and the Shire of Carnarvon, the Ti Tree project displays significant exploration potential for a number of different mineralised styles as well as possibly, multi-commodity discoveries. Spanning a contiguous 3,600 square kilometers, it also has the distinction of being one of the largest properties in the region. Augustus Minerals maintains 100 percent ownership over Ti-Tree, which intersects along the shear of the same name.
The company has identified several high-priority drilling targets along the Ti-Tree and Mingabar structures ready for reverse circulation, diamond or air core drilling.
Highlights:
- Emerging Geological Province: The Gascoyne region displays highly prospective geology and has been the site of multiple rare earth and lithium discoveries in recent years, but has experienced limited historic exploration — making it a prime opportunity for Augustus Minerals.
- Multiple Commodities: Augustus has identified more than 50 significant lithium, rare earth and copper targets. Many of these high-quality targets are ready for drilling.
- Size and Speed: The Ti Tree Project consists of a single coherent block of tenements covering 3,600 square kilometers with 85 kilometers of strike along the Ti-Tree Shear. As an early mover in the region, Augustus was able to gain a considerable advantage in securing this project, into which it has thus far invested $5 million.
- Fertile Geology: Augustus's investment displays the same geology as multiple highly successful neighboring discoveries.
- Mineralization: Current mineral resource targets include:
- 27 rare earth targets across 65 kilometers of strike. All targets display strong thorium radiometric signatures.
- Multiple mafic intrusions with copper-nickel-PGE (platinum group elements) mineralization. The copper resource is both shear-hosted and porphyry-related.
- Elevated lithium stream samples over 10 kilometers of strike length. The target area displays the same geological host rock as the Yinnetharra lithium discovery.
- A narrow, shear vein-hosted gold occurrence with anomalous mineralization displayed in several surrounding areas. The area, known as the Bassit Bore, outcrops at the surface, where visible gold is readily identifiable in hand specimens. Samples collected over 600 meters returned very high gold values.
Management Team
Andrew Ford – General Manager, Exploration
Andrew’s career spans 35 years of exploration and mine development experience in multiple commodities for both majors, including Homestake and Barrick Gold, and junior ASX-listed companies. He has led technical teams throughout Australia, Africa, USA, Europe and Asia, including leading the geology team at the Bawdwin base metals project in Myanmar through the DFS process.
In his most recent role Andrew has led the geology team at Hastings Technology Metals with a focus on resource growth and exploration at the Yangibana Rare Earths Project, where Mineral Resources have now grown to 29.93Mt of TREO.
Brian Rodan - Executive Chairman
Brian Rodan is a fellow of the Australian Institute of Mining and Metallurgy with 45 years’ experience. Previously, he was the managing director and owner of Australian Contract Mining (ACM), a mid-tier mining contracting company that successfully completed $1.5 billion worth of work over a 20-year period.
For 15 years, Rodan held various roles with Eltin Limited (including general manager between 1993 and 1996 and executive director between 1996 and 1999), Australia’s largest full service ASX-listed contract mining company with an annual turnover of $850 million. He was a founding director of Dacian Gold (2013) and Desert Metals (2020) and became the largest shareholder upon listing both companies on the ASX.
Rodan is currently executive chairman of Siren Gold and Iceni Gold Limited, and is currently the largest shareholder in both companies as well as Augustus Minerals.
Graeme Smith - Non-Executive Director
Graeme Smith is an experienced resources sector chief financial officer, company secretary and corporate executive who has worked with mining and exploration companies with operations in Australia (Croesus Mining NL, Genesis Minerals Limited, Jabiru Metals Limited, Breaker Resources NL, Pluton Resources Limited) and overseas (Tanga Resources Limited, Ikwezi Mining Limited) for the past 30 years.
He is the principal of Wembley Corporate Services, which provides company secretarial, CFO and corporate governance services to public companies.
Smith is a fellow of the Australian Society of Certified Practising Accountants, the Institute of Chartered Secretaries and Administrators, and the Governance Institute of Australia. He is currently the company secretary for Alto Metals, Avenira, Renegade Exploration and Enterprise Metals, and was a director of ASX-listed Anglo Australian Resources.
Darren Holden - Non-Executive Director
Dr. Darren Holden is a geologist with 28 years of industry experience in mineral exploration and exploration technologies. He has worked in North America, the Pacific and Australia, where he has been involved in discovery-stage copper, gold, silver, molybdenum and platinum group elements deposits. He specializes in regional to local scale targeting using the integration of geology, geophysics and geochemistry.
Holden is a past vice-president of Geoinformatics/Fractal Geoscience and a former CEO of a publicly listed gold explorer. He currently runs exploration advisory business GeoSpy, and is a co-founder of successful private project generation businesses Marlee Minerals and Odette Geoscience. He is also currently a director Aurumin (ASX:AUN) and chair of OD6 Metals (ASX:OD6), as well as several private companies.
Holden holds a BSc (hons) first class (geology) from The University of Western Australia and a PhD (history) from The University of Notre Dame Australia. He is a fellow of the Australasian Institute of Mining and Metallurgy and a member of the Geological Society of Australia.
Quarterly Appendix 5B Cash Flow Report
Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to release its Quarterly Cash Flow Report for the period ended June 30, 2024.
Click here for the full ASX Release
This article includes content from Basin Energy, 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 Ending 30 June 2024
Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to provide an overview of activities for the period ending 30 June 2024 (‘Quarter’, ‘Reporting Period’) and an accompanying Appendix 5B.
Key Highlights
- Completion of exploration programs and preliminary results received for all three of Basin’s Athabasca uranium properties including:
- Phase 2 exploration drilling at Geikie
- Ground geophysics at Marshall and North Millennium
- Continued engagement and consultation with stakeholder groups
- U3O8 spot price1 stable in US$80/Lb - US$85/Lb range
Phase 2 exploration drilling at the Geikie Project (‘Geikie’) identified a 1.5km zone of alteration typical of basement-hosted mineralisation comparable to multiple world class uranium deposits. Results from the maiden ground electromagnetic surveys at the North Millennium and Marshall projects (‘North Millennium’, ‘Marshall’) were received, with significant conductive anomalies identified at Marshall, located above and below the unconformity, consistent with the regional exploration model.
The treasury was $2.5 million at the end of the Reporting Period.
Basin’s Managing Director, Pete Moorhouse, commented:
“Basin is highly encouraged by the drilling results at Geikie and geophysics at Marshall, and we remain committed to advancing these exploration targets in a scientific and system manner.
The fundamentals behind the uranium market remain strong, whilst spot price has stabilised, we have seen a steady increase in the long price underpinned by a shift to nuclear power globally for clean stable energy.
The recent entry into the Athabasca by ASX listed Paladin Energy Limited furthers enhances the appetite for quality uranium deposits in this jurisdiction, which are only found through exploration.
Basin is in a strong position with $2.5 million remaining in the treasury allowing continued work.”
Click here for the full ASX Release
This article includes content from Basin Energy, 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.
Auric Mining Ltd - NWR Perth Presentation
Auric ticks all the right boxes
Right People
- Board and leadership team with track record of delivering success for shareholders.
- Experienced team covering all disciplines.
Right Place
- World-class address in the heart of WA’s Goldfields.
- Best infrastructure in Australia for gold mining.
Right Structure
- Only 3 years from ASX listing to first gold and positive cashflow.
- Top 20 shareholders own 44.76%.
- Directors have skin in the game owning 17%.
Right Mineral
- Gold focused.
- Approximately 10,000 ounces of gold produced in 2023, Jeffreys Find Gold Mine.
- Higher production in 2024/2025 from Jeffreys Find Gold Mine.
Forward Looking Statements and Compliance Statement
This presentation does not include all available Information on Auric Mining Limited and should not be used in isolation as a guide to investing in the Company. Any potential investor should also refer to Auric Mining Limited’s Annual Reports and take independent professional advice before considering investing in the Company. For further information about Auric Mining Limited, visit o website auricmining.com.au.
Forward-Looking Statement
This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expect’, or ‘intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are considered reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and the management. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.
Disclaimer
- Whilst care has been exercised in preparing and presenting this presentation, to the maximum extent permitted by law, the Company and its representatives:
- Make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
- Accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
- Accept no responsibility for any errors or omissions from this Presentation.
Mineral Resources Reporting Requirements
As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Auric is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX listing rules that the reporting of mineral resources in Australia is in accordance with the JORC Code and that Auric’s mineral resource estimates are reported in compliance with the JORC Code, 2012 edition. The terms used in this announcement are as defined in the JORC Code.
Compliance Statement
The information in this presentation relating to exploration results, mineral resource estimates and the Munda scoping study is extracted from the following announcements all of which are available to view on the Auric website www.auricmining.com.au. The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources and of the scoping study, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.
Click here for the full ASX Release
This article includes content from Auric Mining, 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.
June Quarterly Activities Report
Firebird Metals Limited (ASX: FRB, “Firebird” or “the Company”) is pleased to provide an update on its activities during the June 2024 Quarter.
HIGHLIGHTS
CHINESE LMFP BATTERY STRATEGY
- Battery Grade Manganese Sulphate Feasibility Studyi. Key results include:
- Projected CAPEX of US$ 83.5 million
- Projected Working Capital of US$ 10.6 million
- Chinese circular industry and plant location within the Jinshi High-Tech Industrial Park provides localised key reagents and inputs that drive a highly competitive OPEX of approximately US$609/mt for production of battery grade manganese sulphate
- Plant Capacity for Battery Grade Manganese Sulphate (MnSO4) of 50kt/a & Manganese Tetra Oxide (Mn3O4) 10kt/or equivalent MnSO4 of 72.5kt/a
- Study incorporated conservative cost estimates and the lowest selling sulphate price compared with peers
- Results demonstrated the opportunity for Firebird to become a highly competitive producer of high-purity manganese sulphate
- Combined indicative and non-binding financing agreements up to US$56M well advanced, accounting for approximately 60% of the estimated construction and commissioning costsii
- Critical safety permit received for the construction and operation of the battery grade manganese sulphate plantiii
- Agreement signed with Zhongji Sunward Technology Co, Ltd (Sunward), a leading producer of rotary tunnel kilns used in many chemical plants across Chinaiv
- Sunward to fund 50% of the cost of a pilot plant which has a total cost estimate of US$200,000 and is responsible for the detailed engineering design and manufacturing of the pilot plant
- The new calcining unit has broad industrial applications. Sunward has agreed to pay Firebird a 5% royalty on future sales revenue
- Following a Final Investment Decision (FID), Firebird will be ready to commence construction of the sulphate plant, projected to take ~12-15 months
OAKOVER PROJECT (E52/3577)
- Oakover’s underlying value and importance as a key future operation continue to be underscored by significant manganese supply disruptions
NON-CORE MANGANESE TENEMENTS
- Execution of farm-out agreement with Macro Metals Ltd on non-core manganese tenements (E46/1456, E46/1457, E46/1389 and E45/5906) post quarter endv
CORPORATE
- Cash position at end of June 2024 of $5.1m
Cautionary Statement
The Feasibility Study referred to in this announcement is a Technical Feasibility of the establishment of the Battery Grade Manganese Sulphate Project Stage 1 Processing Plant in China (the Plant).
The Feasibility Study is based on the material assumptions contained in the Feasibility Study document released to the ASX on 7 May 2024. These include assumptions about the availability of funding. While the Company considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Feasibility Study will be achieved.
Notwithstanding the developments set out in this quarterly report, Investors should note that there is no certainty that the Company will be able to raise the amount of funding to develop the Plant when needed. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Company’s existing shares.
It is also possible that the Company could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the Plant. If it does, this could materially reduce the Company’s proportionate ownership of the Plant. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Feasibility Study.
Click here for the full ASX Release
This article includes content from Firebird Metals 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.
Elevated Uranium Confirmed in Preston Creek Drilling
Basin Energy Limited (ASX:BSN) (‘Basin’ or the ‘Company’) is pleased to announce a summary of analytical results (Figure 1) from the Phase 2 drilling program at its Geikie Uranium Project (‘Geikie’ or the ‘Project’), located on the eastern margin of the world-class Athabasca Basin in Canada.
Key Highlights
- Elevated uranium confirmed in multiple drillholes from Phase 2 drilling at Geikie within altered fault zones and favourable lithologies.
- Notable key uranium pathfinders identified beyond previously identified zones at Preston Creek.
- Highly encouraging geochemistry results at Preston Creek within a structured alteration system comparable to multiple world class basement-hosted uranium deposits of the Athabasca Basin.
- 1.5 km of strike length on the very prospective Preston Creek gravity anomaly remains untested.
- Drilling confirms the prospectivity of the Geikie Project and the effectiveness of Basin’s targeting methodology utilising multilayered geophysical datasets.
Basin’s Managing Director, Pete Moorhouse, commented:
“Confirming elevated uranium and pathfinder elements at Preston Creek in conjuncture with key structures and intense alteration patterns reaffirms the strategic direction we’ve pursued advancing exploration programs at Geikie. Drilling at Preston Creek has demonstrated the scale and style of structure and alteration typical of basement-hosted uranium mineralisation in the region.
Moving forward, we will capitalise on these results to refine our exploration model and prioritise future exploration targets. Phase 2 drilling demonstrated that the gravity survey successfully delineated an area of extensive alteration at Preston Creek within a wide complex structural corridor with uranium anomalism detected. This 1.5 km strike gravity low system has the scale and key elements which demonstrates good potential and remains untested to the northeast. Additionally, numerous regional gravity anomalies remain untested on the property. Needless to say, our team is very excited for the next round of exploration at Geikie.”
Figure 1: Compilation map highlighting best uranium intercepts from 20235 and 2024 drilling campaigns with insert highlighting results at the Preston Creek prospect over the AGG anomalism.
Phase 2 Drilling Geochemical Results
The Phase 2 drilling program consisted of eight diamond drill holes for a total of 2,295 metres, designed to follow-up on the success of the 2023 drill program6,7 and to test high-priority gravity anomalies identified during the 2023 AGG survey. Gravity anomalies were interpreted to be related to zones of enhanced basement alteration. The drill program was focused on three high priority target areas on the Project, with most of the work completed on the Preston Creek prospect.
Drilling at Preston Creek was highlighted by a wide quartz-rich fault zone showing cataclastic reactivation, intense hydrothermal fluid activity, redox style alteration, and localised elevated radiometry. Drill hole observations suggest that the previously identified gravity low in the Preston Creek target area is related to a broad hydrothermal fluid system. This gravity low feature remains untested to the northeast where it extends for approximately 1,500 metres.
Click here for the full ASX Release
This article includes content from Basin Energy, 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.
Augustus Minerals Drilling for Higher-grade Targets at Ti Tree Project, Exec Says
Augustus Minerals (ASX:AUG) has received commitments of over AU$1.66 million to accelerate the exploration of the Ti Tree project in the Gascoyne Province of Western Australia. Andrew Ford, the company’s general manager of exploration, said programs are in place to explore for high-grade targets.
“(We’re) continuing our rock chip sampling (and) prospecting mapping. We have an airborne geophysics program starting hopefully in early August, and that will be targeting a variety of (areas),” he said.
Augustus Minerals also earned sponsorship from the Western Australian government through an exploration incentive scheme, where 50 percent of the drill costs will be covered by the government, according to Ford.
“So we've got two 700 metre diamond holes, sort of targeted to test under the existing drilling in areas where we haven't done drilling, down to an area where we're hoping … we may hit some hopefully higher-grade copper and molybdenum. So that's another big program coming up," he explained.
Results of rock chips collected at the 3,600 square kilometre Ti Tree project have revealed new higher-grade assays of 35 percent copper and 236 grams per tonne silver from the Tiberius prospect.
Watch the full interview with Augustus Minerals General Manager of Exploration Andrew Ford above.
Disclaimer: This interview is sponsored by Augustus Minerals (ASX:AUG). This interview provides information which was sourced by the Investing News Network (INN) and approved by Augustus Minerals in order to help investors learn more about the company. Augustus Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Augustus Minerals and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
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