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Gidji JV Exploration Update
December 2023 Quarterly Activities Report
Firebird Metals Limited (ASX: FRB, “Firebird” or “the Company”) is pleased to provide an update on its activities during the December 2023 Quarter.
HIGHLIGHTS
CHINESE LMFP BATTERY STRATEGY
- In-house Battery Grade Manganese Sulphate Scoping Study (‘SS’ or ‘the Study’) which delivered excellent results and reaffirmed the opportunity to establish Firebird as low- cost, near-term manganese sulphate producer
- Battery Grade Manganese Sulphate Pre-Feasibility Study at an advanced stage, with completion expected in late Q1 2024
- Establishment and registration of the Company’s Chinese subsidiary named Hunan Firebird Battery Technology Co Ltd
- Advanced and commercialised crystallisation technology secured, providing a key operation and cost advantage for Firebird
- Preferred location for battery grade manganese sulphate plant secured and will be situated in the Jinshi High Tech Industries Development Zone, Jinshi, Hunan province, China
- Subsequent to quarter end, Chinese-based Research and Development (R&D) Centre fit-out completed ahead of schedule and under budget
- R&D Centre situated in the Jinshi High Tech Industries Development Zone, Jinshi, Hunan province, China
- Completion of R&D Centre includes commencement of Pilot Plant operations, with samples of high-purity manganese sulphate (MnSO4) and manganese tetra oxide (Mn3O4) to be produced for potential customers and offtake parties
- R&D centre will be used to complete testing on several other potential manganese rich precursor cathode active materials (pCAM)
- Commencement of Pilot Plant operations represents the execution of another key milestone for the China-based LMFP battery strategy
OAKOVER PROJECT
- Planning for next stage environmental surveys and studies underway
- Diamond drill program for on-going metallurgical test work at Oakover to be carried out in Q1 2024
CORPORATE
- Cash $7.36 M
- The 2023 Annual General Meeting was held on Wednesday 29 November 2023 and all resolutions were successfully passed
CHINESE LMFP BATTERY STRATEGY
BATTERY GRADE MNSO4 SCOPING STUDY COMPLETED
FOR FULL DETAILS REFER TO ASX ANNOUNCEMENT DATED 21/11/2023 CAUTIONARY STATEMENT – CHINA BASED BATTERY GRADE MNSO4 SCOPING STUDY
The China-based Manganese Sulphate Scoping Study, is a preliminary technical and economic study of the potential viability of the processing of part of the manganese concentrate to be produced from the Oakover Manganese Project at a facility to be established in China. The Scoping Study outcomes, production targets and forecast financial information referred to in this release are based on low accuracy level technical and economic assessments that are insufficient to support estimation of Ore resources.
The Scoping Study has been completed to a level of accuracy of +/- 35% in line with a scoping level study accuracy. While each of the JORC modifying factors was considered and applied, there is no certainty of eventual conversion to Ore Reserves or that the production target itself will be realised. Further exploration and evaluation work and appropriate studies are required before the Company will be in a position to estimate any Ore Reserves or to provide any assurance of an economic development case. Accordingly, given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study. Given that the results of the Scoping Study are subject to the qualifications above (including assumptions as to accuracy), any results reported in this release should be considered as approximates and subject to variances having regard for the assumptions referred to in this release. The Company has reasonable grounds for disclosing a Production Target, given that approximately 99% of the Life-of-Mine (LOM) Production Target is in the Indicated Mineral Resource category, and 1% is in the Inferred Mineral Resource category. The production target stated in this announcement is based on Firebird’s current expectations of future results or events and should not be relied upon by investors when making investment decisions. Further evaluation work and studies are required to establish sufficient confidence that the production target will be met. Firebird confirms that the financial viability of the Oakover Manganese Project is not dependent on the inclusion of Inferred Resources in the Scoping Study.
The Company considers all the material assumptions in this to be based on reasonable grounds. These include assumptions about the availability of funding. While Firebird 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 Scoping Study will be achieved. To achieve the range of potential outcomes indicated in the Scoping Study, funding of in the order of US$82.3 million (excluding working capital and finance costs) will likely be required. Investors should note that there is no certainty that Firebird will be able to raise that amount of funding when needed. However, the Company has concluded it has a reasonable basis for providing the forward-looking statements included in this announcement and believes that it has a "reasonable basis" to expect it will be able to fund the development of the Project. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Firebird’s existing shares. It is also possible that Firebird could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the project. If it does, this could materially reduce Firebird’s proportionate ownership of the project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study.
The Mineral Resources underpinning the production target in the Scoping Study have been prepared by a competent person in accordance with the requirements of the JORC Code (2012). The Competent Person’s Statement is found on page 5 of this announcement.
For full details of the Mineral Resources estimate, please refer to Firebird’s ASX release dated 10th March 2022 and 23 March 2023. Firebird has confirmed that it is not aware of any new information or data that materially affects the information included in that release. All material assumptions and technical parameters underpinning the estimates in that ASX release continue to apply and have not materially changed.
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.
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Firebird Metals
Overview
Firebird Metals (ASX:FRB) is an Australian mining company that’s well-positioned to develop a new manganese mining operation in Western Australia with a strategy to become a global battery cathode producer supporting a rapidly expanding electric vehicle market.
Batteries currently represent the largest non-alloy market for manganese, accounting for roughly 3 percent of global annual manganese consumption. The metal has a long history of being used as a cathode material in batteries, both in its natural form and in the form of electrolytic manganese dioxide. That includes modern lithium-ion batteries, the supply and manufacturing chain for which could potentially grow by over 30 percent annually from now through 2030.
Manganese-rich batteries are increasingly being held up as an alternative to standard lithium-ion batteries, leading to an expected exponential demand for the mineral. Tesla alone has already committed to producing manganese-based batteries for two thirds of its supply, owing to the metal's relative abundance and lower cost compared to nickel and cobalt.
Lithium-iron-phosphate (LFP) represents one of the most prominent phosphate battery configurations. In recent years, however, the business case for using manganese as a cathode material for lithium-ion batteries, known as lithium manganese iron phosphate (LMFP), has become stronger. LMFP not only improves the battery’s energy density, but also increases capacity by up to 20 percent. LMFP batteries also perform better in low-temperature environments.
As LFP rapidly nears its theoretical energy density capacity, the rise of LMFP batteries as a replacement is all but inevitable as the world continues its slow march towards electrification and sustainable energy. Consequently, this means that demand for battery-grade manganese is set to explode in the coming years. And Firebird Metals is more than ready to step in and provide some much-needed supply.
Firebird maintains ownership over a massive manganese resource in Western Australia's Pilbara region in the form of its flagship Oakover project. Characterised by near-surface mineralisation, Oakover houses an estimated 176.65 million tons (Mt) of manganese across several different targets. Because of Oakover's favourable geology, Firebird can potentially leverage Oakover to supply not just the battery market but also multiple other industries, such as steel, all through a low-cost, simple mining operation.
The end result? Significant returns for investors — a projection only further emphasised by the impressive results returned by a recent concentrate scoping study on the project. Firebird maintains several other projects in Australia as well, including the Oakover-like Hill 616 and the exploration-focused Wadanya.
Firebird's long-term strategy reaches far beyond Australia's borders, however. From mining to downstream processing, the company's vision is to become a global cathode producer. For that, Firebird is looking to China, which to date accounts for roughly 90 percent of global manganese sulphate demand.
In early September 2023, the company announced its plans to establish a processing plant in China, noting to investors that an in-house scoping study was already well underway. According to Firebird's managing director Peter Allen, the construction of this plant represents the next phase of major growth for Firebird. As with the rest of Firebird's operations, this new plant will be constructed with the company's ESG methodology front of mind, ensuring transparency and accountability in addition to human welfare, support for local communities and environmental sustainability.
This plan, should it proceed apace, has the potential to make an enormous impact on global manganese supply — all while positioning Firebird as a cost-competitive player in the manganese sulphate market and a promising investment opportunity.
Company Highlights
- An Australian junior exploration company, Firebird Resources is well-positioned to take advantage of the growing demand for manganese as the rapidly expanding electric vehicle market and global electrification continue to ramp up.
- Firebird maintains ownership of a massive manganese resource in Australia with significant growth potential.
- A recent concentrate scoping study confirmed the potential and profitability of the company's flagship project, Oakover, situated in Western Australia's Pilbara region.
- Firebird's long-term goal involves leveraging its manganese resource to position itself as a leading global producer of manganese sulphate for the battery industry.
- The company is currently embarking on a scoping study with plans to build a manganese sulphate plant in China. This will allow it to gain a foothold in the Chinese market, which currently accounts for 90 percent of global manganese sulphate demand.
- This study represents the next phase of major growth for Firebird, and is a significant part of the company's overall strategy to establish itself as a near-term producer of battery-grade high-purity manganese sulphate.
Key Projects
Oakover
Situated 85 kilometres East of Newman in Western Australia's East Pilbara Manganese Province, Firebird's flagship Oakover project is characterised by favourable near-surface and shallow-dipping mineralisation. The project's favourable geology provides Firebird with multiple processing options, with the company currently targeting production of manganese concentrate and high-purity manganese sulphate. Oakover has, over the course of its history, been subject to extensive modern and historic exploration.
The most recent exploration program, completed by Firebird, resulted in a mineral resource estimate of 176.65 Mt at 9.9 percent manganese, including 105.8Mt at 10.1 percent manganese in the indicated resource category.
Project Highlights:
- Confirmed Potential: Firebird recently achieved a major milestone at Oakover with the completion of a concentrate scoping study which confirmed the project's outstanding long-term potential as a manganese hub. Highlights of the study include:
- Potential 18-year mine life.
- 1.2 Mt per annum with low strip ratio (0.45:1) and mining costs.
- Upfront capital investment of A$124 million with low capex optionality.
- A$741.3 million NPV and IRR of 73.1 percent.
- Indicated material accounts for 99.2 percent of material processed.
- 80 percent uplift in indicated resource at Oakover to 105.8 Mt.
- Metallurgical Results: Firebird has undertaken extensive metallurgical and hydrometallurgical testwork at Oakover, with results providing the company with a high level of confidence in its growth and profit potential. Notable highlights are as follows:
- Achievable 30 to 32 percent manganese concentrate saleable product
- Achievable battery-grade manganese sulphate
- Current Plans: Firebird's concentrate scoping study assessed two production scenarios, each utilising simple processing, crush, screen, scrub and DMS beneficiation. It has chosen to pursue full production from startup with ~4 Mtpa processing and ~1.2 Mtpa of 30 to 32 percent manganese concentrate.
Hill 616
Located 35 kilometres south of the Oakover project, Hill 616 shares highly similar geological characteristics to Firebird's flagship, with shallow, gently dipping geology. Covering approximately 15.7 square kilometres within the Peak Hill Mineral Field, Hill 616 has to date undergone extensive historical drilling, with 116 holes for 4,900 metres over a 2.2-kilometre strike.
This drilling has resulted in an inferred mineral resource of 57.5 Mt at 12.2 percent manganese.
Wandanya
Wandanya is a recently established exploration-focused project situated 50 kilometres southwest of the world-class Woodie Woodie Manganese Mine. Its close proximity to Port Hedland affords it considerable direct shipping ore potential. Rock chip results indicate that Wandanya's deposits are also exceptionally high grade, returning results up to 64.9 percent and 55.2 percent manganese.
Management Team
Evan Cranston — Chairperson
Evan Cranston is an experienced mining executive with a background in corporate and mining law. He is the principal of corporate advisory and administration firm Konkera Corporate and has extensive experience in the areas of equity capital markets, corporate finance, structuring, asset acquisition, corporate governance and external stakeholder relations.
Cranston holds both a Bachelor of Commerce and Bachelor of Laws from the University of Western Australia. He is currently the non-executive chairman of African Gold (ASX:A1G) and Benz Mining (TSXV:BZ, ASX:BNZ).
Peter Allen — Managing Director
Peter Allen is a mining executive with more than 20 years of experience in marketing of manganese, lithium and a range of other commodities. He was previously the managing director of marketing for Consolidated Minerals Limited, which operates Woodie Woodie mine in WA and the Nsuta Manganese mine in Ghana.
Allen assisted manganese-focused explorer Element 25 (ASX:E25) and Gulf Manganese Corporation (ASX:GMC) with PFS and product marketing. More recently, he was the marketing manager for AVZ Minerals (ASX:AVZ), a company focussed on the Manono lithium project.
Wei Li — Executive Director & CFO
Wei Li is a chartered accountant with extensive professional experience across several key sectors which include the resource industry, international trade, capital markets, project management of IPOs and spin-outs, and financial accounting. His experience includes being employed by and acting as director and CFO of several companies, predominantly in the resource sector. Prior to these roles, he managed a private base metal exploration company in the NT of Australia and assisted in commissioning an AU$150-million electrolytic manganese dioxide plant in Hunan China.
Li is currently a non-executive director of Macro Metals.
Ashley Pattison — Non-executive Director
Ashley Pattison brings over 20 years of experience in the resources sector across corporate finance and operational roles. Qualified as chartered accountant, he has extensive experience in operations, finance, strategy and corporate finance. Pattison has been the managing director of a number of listed and private mining companies over the past 10 years and also CEO of a listed mining service company.
Pattinson is currently the executive chairman of PC Gold and a non-executive director of Industrial Minerals (ASX:IND) and Macro Metals.
Brett Grosvenor — Non-executive Director
Brett Grosvenor is an experienced mining executive with over 25 years of experience in the mining and power industries. He holds a dual tertiary qualification in engineering and a master’s in business.
Investor Presentation Fiery Creek Georgetown
FIERY CREEK COPPER PROSPECT
- Georgetown Project Queensland
- Fiery Creek Copper Prospect
- 29 square kilometre Yataga Granitoid Intrusive Complex
- Identified as potential massive scale constrained copper porphyry system
- Targeting millions of tonnes of contained copper in “pencil porphyry style” Cadia type system
- 1,000 mines, prospects, mineral occurrences in Georgetown District
- 3 exploration permits covering 850km2
- Significant historical gold production, very little systematic modern exploration
- Gold, lithium, silver, lead, zinc, copper, tin, tantalum, niobium, uranium, fluorine and molybdenite
- 8 potential scale prospects gold, copper, silver lead identified to date
- 23% copper, 14 ounces silver (460 g/t)* from rock samples in quartz breccia hosted veins at Fiery Creek
- Hosted within the massive Yataga Granitoid Complex
- 1600m x 750m outcropping copper veining up to 2m wide
- Interpreted shallow constrained, scale porphyry copper system
- Veining has extensive secondary copper mineralisation at surface
- Multi element assays point to possibility of a significant copper polymetallic system
- Pathfinder element anomalism widespread
- 2 geochemistry surveys completed by EMU
Click here for the full ASX Release
This article includes content from EMU NL, 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.
EIS Grant for Minnie Springs Copper Porphyry Drilling
Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise the grant of a co-funded EIS drilling grant of up to $110,000 for the Minnie Springs Cu-Mo project in the Gascoyne Region. Augustus thanks the State Government and DEMIRS for supporting exploration in Western Australia with these grants.
- Augustus Minerals has been granted 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) for the Minnie Springs prospect.
- The deeper diamond drill program is designed to test and to provide a 550m deep, 1km wide geological/geochemical/structural cross-section through the large 3km long by 1km wide copper moly porphyry system, linking the Mo mineralised leucogranite to the extensive Cu in soil anomaly to the northeast.
- Previous RC drilling at Minnie Springs intersected mineralisation, geology and alteration halo consistent with the zoning of a large porphyry copper / moly system.
Andrew Ford, GM Exploration
“The Company is pleased to receive an EIS grant to complete deeper drilling at the Minnie Springs Copper Molybdenum Project. The resultant data will enable mapping of the lithology and alteration to a depth of 550m and potentially intersect, or provide vectors to, higher grade Mo-Cu mineralisation using a Mo-Cu porphyry geological model”.
Minnie Springs
Minnie Springs hosts porphyry related copper molybdenum mineralisation previously drilled and defined by Catalyst Metals. A molybdenum Exploration target has been defined for the historicdrillingareacomprisedofbetween12-84Mtasoutlinedbelow (Table 1 and Figure 1, 2.)1.
Table 1. Exploration target size estimate for Minnie Springs Molybdenum depositNote: Based on ~300 ppm cut-off at 100% recovery.
The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resources, and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The planned diamond drilling will complement the recently completed 3,200m RC drilling program that infilled around hole MSRC012 (18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole2) and tested the northern half of the 2km long copper-in soil anomaly. Assays from this program are expected to become available over the next month.
The limited exploration in the region, highlighted by 95% of the Ti-Tree project having no previous exploration, demonstrates the prospectivity of this underexplored mineral province.
Click here for the full ASX Release
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.
Quarterly Activity Report 31 March 2024
EMU NL (ASX: EMU) (“EMU” or “the Company”) is pleased to report on its activities for the quarter ending 31 March 2024.
Figure 1. Fiery Creek Copper Prospect/Yataga Granodiorite summarizing rock (brown diamonds) and termite mound sample results (black crosses)
Continuing with its primary exploration focus on the Georgetown project in the latter half of 2023, EMU received assay results during the quarter from its second, in field reconnaissance work. The geochemical sampling programme covered the Fiery Creek high grade copper vein swarm and the Snake Creek prospects with significant element results returned from the Fiery Creek Copper (elevated Cu-Au-Ag-Bi-In-Pb-Sb-Te) and Snake Creek (elevated Pb-Ag-Au-Sb).
Whilst the survey was cut short due to inclement weather, EMU was encouraged by the significant success reflected in the assays results. The results from mineralogical studies confirmed EMU’s interpretation of an indicative, scale Copper-Porphyry system at the Fiery Creek prospect and was a highlight of the survey with new information building on the scale and potential of the prospect1.
Assay results returned included:
- Fiery Creek rock assay results up to 23.5% Cu, 0.27ppm Au, 460ppm Ag, 1.9% Bi, 89ppm In, 2.7% Pb, 667ppm Sb, 1470ppm Zn2.
- evidence of strong potential for the presence of critical and strategic minerals (Cu, Bi, In), with precious and base metals.
- evidence of alteration mineralogy, mineralisation geochemistry and areal extent of the Fiery Creek quartz-Cu-Bi vein swarm strongly suggesting a previously unrecognised subjacent porphyry Cu-Mo system.
- Yataga Granitoid Complex termite mound and coincident rock chip sampling returned several anomalous polymetallic zones for follow up.
- Snake Creek Prospect assays returned 0.20ppm Au, 390ppm Ag, 22.4% Pb, 464ppm Sb1.
Significant results were returned from the Fiery Creek Copper prospect with elevated Cu-Au- Ag-Bi-In-Pb-Sb-Te and from the Snake Creek prospect with elevated Pb-Ag-Au-Sb.
The elevated pathfinder element results and a macro-petrology assessment3 of rock samples completed by Mr Nigel Maund, Consulting Economic Geologist, from the previously unexplored Fiery Creek Prospect, point to the discovery of a porphyry copper system.
The sampling program assessed a number of high-priority prospects within the Georgetown Project tenements utilising termite mound and outcrop rock chip geochemistry. A total of 46 rock chip and 489 termite mound samples were collected across eight prospects.
Click here for the full ASX Release
This article includes content from EMU NL, 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 Report for the Period Ending 31 March 2024
Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to provide its quarterly report for the period ending 31 March 2024 (the Quarter).
HIGHLIGHTS
WEST MUSGRAVE COPPER PROJECT (100% RDS) – WEST MUSGRAVE, WESTERN AUSTRALIA
- Redstone currently planning work programs to advance its copper exploration strategy at its 100% owned West Musgrave Project in WA
- Foundation set for growth ‐ existing copper resource base at West Musgrave:
- Tollu copper vein deposit with a resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper (ASX announcement of 15 June 2016).
- Significant drilling intersections of high‐grade Cu mineralisation at the Chatsworth and Forio Prospects within Tollu (dating back to 2017) are yet to be included in the existing JORC 2012 resource estimate.
- Significant and consistent high‐grade copper results at depth and to the surface at Tollu:
- Most recent drilling at Chatsworth intersected 11m at 1.2% Cu from only 29m downhole (TLC205), extending the previously intersected high‐grade copper lens a further 20m towards the surface.
- Together with prior drilling, TLC205 also confirmed the targeted high‐grade Cu lens at Chatsworth has the following encouraging characteristics:
- Up to 26m thick (downhole) and has a consistent Cu grade over 1% Cu;
- Extends over 140m vertical from TLC205 to its deepest intersection to date in TLC188;
- A consistent high average grade of over 1% in numerous holes; and
- Remains open at depth
- Historical Cu intersections at Chatsworth include mineralisation that continues from the surface to the maximum vein intersection depth at over 424m (downhole), where grades of 3.73% Cu over 10m, including 5m at 5.3% Cu from 427m (downhole), still continue and are not closed out
- Drilling at the Forio Prospect, which included the highest grade intersection ever recorded at Tollu, being 1m at 18.5% Cu from 18m downhole (TLC203) within an intersection of 8m at 4.1% Cu from 13m downhole, extend Forio’s high grade Cu mineralisation zone at Forio to a 60m strike length (north and south) of continuous high grade copper.
- The high grade Forio Cu Zone extends all the way to the surface with lenses of Cu mineralisation up to 34m thick (downhole) with average grades always over 1% Cu (34m at 1.04% Cu from 15m downhole in TLC181)
- Nearby to major BHP deposit: Tollu copper deposit is located 40km east of BHP’s world‐class Nebo‐ Babel Ni‐Cu‐Co‐PGE deposit ‐ estimated to have a resource of 390 million tonnes grading 0.33% copper and 0.30% nickel, for 1.2 million tonnes of contained nickel metal and 1.3 million tonnes of contained copper metal
- Redstone has been successfully awarded a $220,000 drilling grant from the DMIRS under the Round 29 Exploration Incentive Scheme (EIS) – grant will co‐fund a single deep drill hole of approximately 1,000m at the Chatsworth Prospect at Tollu
Click here for the full ASX Release
This article includes content from Redstone 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.
Metals Australia Quarterly Activities Report - to 31 March 2024
Metals Australia Limited (ASX: MLS) (“Metals Australia”, the “Company” or “MLS”) is pleased to report its activities for the quarter ended 31 March 2024 (“Quarter”):
Highlights
- Highly experienced Mining Executive, Paul Ferguson commenced employment with the Company, as Chief Executive Officer on January 22nd, 20241. Paul’s commencement has enabled the Company to significantly advance planning and preparation for the exploration, metallurgical test work programs and design studies required to move its flagship Lac Rainy high-grade graphite project towards development. Contract awards for key programs and studies are imminent and will be announced during May.
- The Company completed a $3.5M AUD2(before costs) capital raise to support funding of its planned exploration programs in Quebec, Canada. The raise was completed at a 40% premium to the prevailing stock price and utilised the Canadian Federal Governments exploration tax incentive program (Flow Through Shares). This program is provided by the Canadian Government to help stimulate mineral exploration investment by providing increased tax incentives to investors who support companies exploring for critical minerals. The Company has subsequently noted announcements in the April 16th Canadian Federal Govt budget of changes likely to negatively impact these investor incentives from June 25th. Having completed the capital raise, the Company has ensured it has sufficient funding to achieve its exploration and development objectives.
- Company representatives, including its CEO, hosted an investor booth at PDAC3(Prospectors & Developers Association of Canada) Mining convention in Toronto March 3rd to 6th. The convention was hugely successful with significant contacts and connections established, who have expressed their interest in our project. Connections made include government representatives, fund managers, investors and a wide range of technical services and engineering companies covering all aspects of the study programs required to advance the companies projects. This helped raise the profile of our Company’s flagship Lac Rainy project, along with our other Quebec based projects. Follow up meetings with the government and supportive, Quebec based, exploration and project investment funds has further enhanced our profile in Canada.
- The Company held strategic planning workshops in Australia and Canada to review the extensive portfolio of high-quality exploration tenements held by the group. Strategic plans and priorities were developed for each project and plans are advancing to progress further exploration and metallurgical test programs. The Company is also investigating additional exploration or project opportunities where they add scale or accelerated pathways to development. The balance of the financial year will see further announcements, outlining plans.
Click here for the full ASX Release
This article includes content from Metals Australia, 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.
Basin Energy Mining Exploration Entity or Oil and Gas Exploration Entity Quarterly Cash Flow Report
Basin Energy (ASX:BSN) is pleased to announced its mining exploration entity or oil and gas exploration entity quarterly cash flow report.
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.
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