The Conversation (0)
EMU NL Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
EMU NL
Investor Insight
EMU NL is an Australia-focused base and precious metals exploration company offering a compelling opportunity in the highly lucrative copper space. A strategic focus on delineating a potential large-scale copper porphyry system at its Fiery Creek copper deposit in Northern Queensland, combined with a leadership team of significant global experience and expertise, and an upward trending copper market, all make EMU NL worthy of considerable consideration for any investors looking at the copper sector.
Overview
EMU NL (ASX:EMU) is an ASX-listed precious and base metals exploration company with three projects in Queensland, Australia: Georgetown, Badja and Sunfire. EMU’s primary focus is accelerating exploration at the highly promising Fiery Creek prospect, located within the Georgetown project in Northern Queensland.
Australia is one of the most attractive regions for mining, according to the Fraser Institute. It ranks Queensland as the 13th most attractive destination for mining investment.
In 2023, Queensland's mines yielded 12.6 tons of gold, positioning it as Australia's fourth most prolific state for this precious metal. The company's presence in relatively attractive mining jurisdictions positions it to capitalize on opportunities in Australia's resource sector and deliver sustainable returns to its shareholders. The recent fundraises of A$1.45 million have provided sufficient funding to advance its exploration projects.
Gold and copper continue to demonstrate bullish trends. Various factors are driving the surge in copper prices, including demand patterns such as upgrades in utility grids, the increasing use of copper in electric vehicles, and housing construction. Additionally, the growing energy demand from data centres powering AI applications and servers contributes to the increased need for copper. Both gold and copper prices have hit their all-time high in 2024, which also enhance the prospects for junior miners to progress their projects and potentially secure financing easily.
Key Projects
Georgetown Project
The Georgetown project tenements span 850 sq. km. in North Queensland and comprises three exploration permits: Georgetown, Perpendicular Peak and the Fiery Creek copper prospect. Of these, Fiery Creek is the most promising and the current exploration interest for EMU.
The Georgetown project is located in a resource-rich yet under-explored region in Queensland’s far north, situated within the Georgetown mining district, with a significant history of mining activities and mineral discoveries.
EMU has identified the Fiery Creek copper prospect as a potentially massive-scale copper porphyry system within the 29 sq. km. Yataga Igneous complex. In the middle of 2023, EMU's reconnaissance efforts at Fiery Creek yielded numerous instances of heightened copper and polymetallic values. EMU conducted additional sampling to further assess the potential of the Fiery Creek prospect.
The work confirmed the significant, large-scale potential of the Fiery Creek copper prospect. It identified additional high-priority targets within the Yataga Granitoid complex, revealing polymetallic rock chip values reaching up to 0.27 parts per million (ppm) gold, 460 ppm silver, 1.9 percent bismuth, 23.5 percent copper, 43 ppm indium, 2.7 percent lead, and 341 ppm antimony. Similarly, values of 0.13 ppm gold, 44 ppm silver, 0.28 percent bismuth, 13.5 percent copper, 89 ppm indium, 1.62 percent lead, and 667 ppm antimony were recorded at Yataga South.
Initial fieldwork has provided strong indications of a potential large-scale copper porphyry system at Fiery Creek. EMU is planning further geological mapping, systematic geochemistry and a geophysics survey to delineate the indicated porphyry system.
Badja Project
The Badja project is located 32 kilometres southeast of the township of Yalgoo and covers an area of 870 hectares. The project's tenements include a centrally granted mining lease covering 7.3 hectares, an adjoining mining lease application covering 279.3 hectares, and a granted exploration license covering 590.3 hectares. EMU’s previous drilling work has identified areas that are prospective for high-grade gold, tungsten and lithium.
EMU is evaluating options to maximize the value of the project, either through sale or retention.
Sunfire Project
Sunfire is a nickel, copper and PGE exploration project in Western Australia. The project is currently awaiting permission from the Western Australian government to allow drilling activities in the area within the State forest. EMU has fulfilled all necessary environmental requirements for accessing these areas within the project and initiated onsite exploration activities. However, there has been no significant advancement to date, and government departments have not indicated the likelihood of granting drilling consent.
Management Team
Peter Thomas – Non-executive Chairman
Peter Thomas has over thirty years of experience running a legal practice specializing in giving advice to listed explorers and miners. He has served on the boards of various listed companies, including as the founding chairman of copper producer Sandfire Resources and mineral sands producer Image Resources. His current ASX-listed company board positions include non-executive director of Image Resources and non-executive chair of Middle Island Resources.
Terry Streeter – Non-executive Director
Terry Streeter brings over 30 years of experience in the exploration sector. He served as a director of West Australian nickel explorer and miner Jubilee Mines NL from 1993 to May 2004. In 1999, he became a founding shareholder of Western Areas NL (ASX:WSA), which later discovered and developed two high-grade nickel sulphide mines in the Forrestania region of Western Australia, producing 22,000 to 25,000 tons of nickel annually. He has served in leadership roles at Fox Resources, Midas Resources, Minera IRL and Alto Metals.
Gavin Rutherford – Non-executive Director
Gavin Rutherford has accumulated over 20 years of experience in the mining services, fabrication and contracting sectors. He served as managing director of a contracting and construction company in the water industry. His current endeavors involve project development in the renewable energy sector, business development in the Indigenous mining segment, and interests related to aviation.
Tim Staermose – Non-executive Director
Tim Staermose boasts 23 years of expertise in equity capital markets and equity research. His professional journey includes roles at international sell-side equity brokerage firms based in South Korea and Hong Kong, notably Banque Indosuez (now part of Credit Agricole) in the late 1990s and Lehman Brothers in the early 2000s. Transitioning from sell-side equity research, Staermose has since operated as an independent researcher and stock-picker for several private research firms, focusing on natural resources, gold and mining investments.
Intercepts up to 41g/t Au from In-Fill Drilling Program Nueva Sabana, Cuba
The aim of the program was to increase the Indicated Resources in the Initial Mineral Resource Estimate advised to ASX on 6 March 2024.
HIGHLIGHTS
Gold Domain – Nueva Sabana
Copper Domain – Nueva Sabana
Sampling Techniques and Data are set out in the JORC Code 2012 Edition Template attached.
NUEVA SABANA GOLD-COPPER MINE
- The in-fill results continue the excellent grades for both gold and copper in the oxide deposit that were incorporated in the Scoping Study for the first stage of the proposed Nueva Sabana gold-copper mine reported to ASX on 7 May 2024.
- Results from the remaining 18 holes are expected by the end of this month.
- An updated Mineral Resource Estimate (“MRE”) for the proposed mine is expected to be completed within two weeks of receiving these results, after which the pit design and mine schedule will be updated, followed by a Pre-Feasibility Study in September 2024.
- The Nueva Sabana oxide deposit is metallurgically simple, and the mine is being planned as a copper project which will benefit from the high-grade gold cap during initial operations.
- Metallurgical test work by Blue Coast Research Laboratories in Canada has indicated a gold recovery of 85% from a simple rougher flotation circuit, and a concentrate of 70.2 g/t Au.
- A copper recovery of 84.5% yielded concentrate grades of 27% Cu from a rougher and cleaner circuit, which has formed the basis of the process design criteria for the Nueva Sabana concentrator.
- Planning and permitting for the proposed mine is well advanced.
- Total development costs are estimated to be ~US$30 million including ~US$5 million of pre- development and concession acquisition costs, and ~US$25 million for mine construction based on quotations for site works, industrial buildings, and a turnkey offer for the design and construction of the concentrator and associated power station.
- The project requires minimal pre-stripping and will not involve the purchase of a mining fleet which is to be hired from the Cuban subsidiary of an international supplier.
- Finance for the mine construction is being negotiated in the form of an advance on concentrate purchases by an international commodities trader.
- The Nueva Sabana project, which is being developed by the 50% owned joint venture company, Minera La Victoria SA, is expected to be development-ready in October 2024.
Click here for the full ASX Release
This article includes content from Antilles Gold, 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.
Zodiac Gold
Investor Insight
A large, underexplored land package with potential for district-scale gold deposit makes Zodiac Gold a compelling opportunity amid a positive macroeconomic backdrop for the precious metal sector.
Overview
Zodiac Gold (TSX.V:ZAU) is a gold exploration company focused on its West African flagship Todi project situated in Liberia — an underexplored, politically stable, mining-friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 sq km land package. The project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts.
Liberia – Stable, Growing and Mining-focused
Liberia is considered a favorable jurisdiction for metals and mining for several reasons: 1) the government has shown a long commitment to developing the mining sector (the mining code is based on Australian legislation), 2) the country has a well-defined regulatory framework (minimal 3 percent royalty rate and a 25 percent basic rate of tax on earnings), and 3) transparent permitting process.
As Africa’s oldest republic, Liberia has had a politically stable democracy since 2003 after signing the Accra Peace Agreement. Additionally, the country has had four successful democratic elections since 2005.
The country is well-endowed with mineral resources that largely remain underexplored. The West African craton hosts numerous world-class deposits with a gold endowment of over 450 Moz. The craton is largely underexplored (~90 percent) with most recent exploration having occurred in the previous 30 years.
Just this year, US iron ore conglomerate High Power Exploration (HPX), founded by mining billionaire Robert Friedland, announced plans to develop the Liberty Corridor – a brand-new multi-user infrastructure corridor connecting Guinea and Liberia.
The Liberty Corridor would comprise a brand-new, world-class rail system connecting the Nimba district of Guinea to a new Liberian deep-water port. The Liberty Corridor is expected to be a leading African example of multi-user, independently operated, and open-access infrastructure that will support the economic opening of the West African region to world markets.
These newly announced Liberian initiatives, coupled with a US-dollar-denominated economy, a majority English speaking population and heavy US presence, makes Liberia a top-tier investment jurisdiction in Africa.
Company Highlights
- Zodiac Gold is a West African gold exploration company developing a district-scale gold discovery in the Republic of Liberia. The company’s land package totals over 2,300 sq km.
- Zodiac Gold has identified five exploration targets that would form the basis for satellite pits that would support a hub-and-spoke mining strategy.
- Proven gold at surface with five drill-ready targets that are open along strike and depth provide strong upside to organic growth from grassroots exploration.
- Discovery-driven management team led by CEO David Kol and director of exploration Tom Dowrick who have over 25 years of combined in-country experience. Management and insiders also own over one quarter of the company.
The Todi Project
Zodiac Gold’s 2,316 sq km, 100 percent owned land package in Liberia includes its flagship Todi property (418 sq km) and other license areas (1,898 sq km) overlying prospective geology and structures known to host gold mineralization. The land package is also strategically located 20 km southeast of Avesoro’s New Liberty Gold Mine (1.8 Moz resource) that produced 360 koz of gold in 2023.
The Todi property has five drill-ready targets:
Arthington
The target boasts more than 4 km of soil anomalies with the discovery of a mineralized gold trend along 1.5 km of strike. Highlight intercepts include 9.6 meters at 7.5 g/t gold and 10.6 meters at 6.6 g/t gold. The company recently completed 3,700 meters or trenching and 3,500 meters of drilling at the property and the Phase 2 drill program defined the strike and depth extents of the target.
Alasala
Target highlights include: 1) a 2.4 km long x 250 meter wide soil anomaly with artisanal workings, 2) rock chip samples up to 107 g/t gold, and 3) drilling intercepts with grades above 6 g/t over just under 20 meters.
Benben
Target highlights include: 1) a 4.5 km long soil anomaly with artisanal workings, and 2) rock chip samples up to 255 g/t gold.
Youth Camp
Target highlights include: 1) a 4 km long soil anomaly with artisanal workings and 2) best historical trenching results of 1 g/t gold over 30 meters.
Alasala South
Characterized by a 1 km long soil anomaly with artisanal workings
Zodiac Gold is developing these five exploration targets that would form the basis for satellite pits that support a hub-and-spoke strategy with material feeding a centralized facility that would process ore.
Management Team
David Kol – Director, President and Chief Executive Officer
David Kol is a highly experienced international business and startup executive with over 20 years of experience in finance, marketing, business development, M&A and executive management, primarily in the resource sector, media/entertainment, real estate and technology industries. Prior to Zodiac, Kol held senior management roles in Gem Rocks Mining Resources, Global Media Group Holdings, The Players Network and Interactive Enterprises, where he worked on projects for Sony, Wink Communications, Netcom, US West (now Qwest Communications), BskyB and JskyB. He currently serves on the board of directors of BluEarth Carbon Development and Global Wholesome Network 501. Kol attended the University of California, Davis, where he studied managerial economics, and has an A.A. (criminal justice) from Diablo Valley College.
Tom Dowrick – Director of Exploration
Tom Dowrick is a seasoned chartered geologist with 17 years of experience in the mining and exploration industry. Since 2011, he has been a driving force at ACA Howe International, where he serves as managing director. In this role, he manages a range of geological and mining consultancy projects around the globe, including serving as a consultant on Zodiac Gold’s Todi project in the Republic of Liberia, West Africa. Dowrick has substantial experience in West Africa, having completed field and desk-based reviews of the exploration activities of both public and private companies in Liberia, Mali, Guinea, Mauritania, Sierra Leone, South Sudan and Mozambique, in addition to projects in Argentina, Brazil, Costa Rica, Ecuador, Kazakhstan and Australia.
Peter Granata – Chief Financial Officer
Peter Granata has more than 18 years of experience in finance and operations management within global organizations. He is a dynamic, results-oriented professional with executive positions in TSXV companies and, prior to these, served as an audit manager for PricewaterhouseCoopers. Granata has prepared financial statements, MD&A, news releases, mine permitting applications and project cash flows. With PricewaterhouseCoopers, he performed audits for Canadian IFRS, US GAAP reconciliations, special purpose financial statements and has executed group reporting under Canadian GAAP. His experience includes CFO for TSXV entities, capital raising, international corporate structures, client engagement, C-suite and directors’ engagement, M&A, financing, investor relations, related party transactions, and finance transformation. Granata has a B. Bus and is a chartered accountant.
Sherry Siu – Corporate Secretary
Sherry Siu has over 30 years of experience working as a paralegal for a boutique law firm in Vancouver, specializing in securities, commercial and corporate matters, and has been corporate secretary of various junior resource companies since 2011. She has worked on a variety of securities-related and corporate transactions, including M&A, spinouts and business combinations, reorganizations, and going-public filings. Siu is a paralegal certified with the BC Paralegal Association.
Douglas Cater – Director
Doug Cater is a professional geologist who has worked extensively across Canada and internationally for more than 35 years, with a particular focus on the Abitibi gold belt located in northeastern Ontario. He has held positions with both senior and intermediate gold producers, including Barrick Gold, Placer Dome and Kinross Gold. His African exploration experience was obtained while serving as an exploration consultant for Barrick Gold in Tanzania, where he was responsible for the project management of an exploration diamond drill program in the Lake Victoria greenstone belt. His most recent executive position was as vice-president, exploration (Canada) with Kirkland Lake Gold. Cater is also a director of Sierra Metals, Mayfair Gold, Exploits Discovery and Gowest Gold. He is a graduate of the ICD-Rotman Directors Education Program.
Renaud Adams – Advisor
Renaud Adams has over 30 years of global mining experience in senior executive positions and operations. Currently, Adams serves as the president and chief executive officer of IAMGOLD (NYSE:IAG) (TSE:IMG), a mid-tier Canadian gold company with a US$1.4 billion market cap. From 2018 to 2022, he served as the president and chief executive officer of New Gold, where he led the strategic repositioning of the company and turnaround of its operations. Prior to New Gold. Adams served as the president and chief executive officer of Richmont Mines from 2014 until the company was sold to Alamos Gold in November 2017. During his time at Richmont Mines, the primary mine of the company experienced a two-fold increase in production, the mineral reserves were multiplied by more than three, and the costs were reduced significantly, leading to the Island Gold Mine in Ontario becoming one of the most cost-efficient underground mines in the Americas. From 2011 to 2014, Adams served as chief operating officer at Primero Mining Corporation, and prior to that he served as general manager of IAMGOLD’s Rosebel mine in Suriname before being appointed senior vice-president, Americas Operations. Adams holds a Bachelor of Engineering degree in mining and mineral processing from Laval University in Quebec, Canada.
Michael Demeter – Advisor
Michael Demeter is a highly experienced executive with a track record spanning over 30 years in financial services, including the past 22 years in capital markets, advising both companies and buy-side investors as well as raising growth capital for a wide range of companies. Michael has worked with boutique investment dealers, Canadian banks, and global investment banks, providing him with diverse exposure to companies of all sizes. Michael is a Partner with Fort Capital, one of Canada’s leading independent investment banking advisory firms. Mr. Demeter is the former Managing Director and Head of Institutional Sales at Haywood Securities and has held senior management roles at Macquarie Group, Dundee Securities, Royal Bank of Canada, and Scotiabank. Mr. Demeter earned a BA (Economics) from Huron College at the University of Western Ontario, and an MBA from the Rotman School of Management at the University of Toronto. His work in financial services has led him to attain his Chartered Financial Analyst (CFA) designation, Chartered Market Technician (CMT) designation, Chartered Alternative Investment Analyst (CAIA) designation, and Certified Financial Planner (CFP) designation. He is a member of the Rotman Dean’s Global Advisory Board (GAB), and the Loan Review Committee for Rise Asset Management, a charity dedicated to helping people with mental health and addiction challenges achieve financial independence through self-employment or small business ownership.
Ryan Hanley – Advisor
Ryan Hanley is currently the CEO of Springburn Capital, a private investment and consulting company. Before founding Springburn, he was the director and mining analyst at Laurentian Bank Securities in Toronto, where he worked from March 2017 to May 2024. Before joining LBS, Hanley was an equity research analyst specializing in mining and mining services at Research Capital from 2012 to 2017. His career at Research Capital also included roles as a mining research associate from 2009 to 2012, and an investment banking analyst in 2008.
Hanley has been ranked as a top analyst by Bloomberg, Thomson Reuters and Refinitiv, including as the third-ranked "Top Stock Picker (All Sectors)" in Canada in the 2017 Thomson Reuters Analyst Awards. He holds a BA from McMaster University in Hamilton, Ontario.
EMU NL Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects