- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Impact Awarded $2.87 Million in Federal Funding for Pilot Plant Work on the Lake Hope High Purity Alumina Project, WA
Impact Minerals Limited (ASX:IPT) is pleased to announce that in collaboration with CPC Engineering and the Mineral Recovery Research Centre (MRRC) at Edith Cowan University, they have been awarded a grant of $2.87 million grant towards the commercialisation of the company’s innovative process to produce High Purity Alumina (HPA) from the Lake Hope deposit located 500 km east of Perth in Western Australia. HPA is on the list of critical minerals for Australia, Europe, and North America.
The grant is provided under the Federal Government’s Cooperative Research Centres Projects (CRC-P) program which fosters short-term, industry-led research collaborations. The grant is part of an estimated $6.4 million research and development project to be completed within three years and designed to provide Impact with the relevant information required to complete a Definitive Feasibility Study in that time frame. A key component of the grant funding will be to construct a pilot plant, which is a key goal for 2025, and this will provide consistent material for off-take and qualification trials.
Impact Minerals’ Managing Director Dr Mike Jones with Eugenia Phegan of CPC Engineering andAssociate Professor Amir Razmjou of the Mineral Recovery Research Centre at ECU holding a pilot scale Membrane.
Impact Minerals’ Managing Director Dr Mike Jones, said, “We are immensely proud to drive this transformative project, which aligns with and advances Australia’s strategic interests in critical minerals. We thank Minister Husic for his personal interest in the project as this federal funding not only underscores the national importance of our work but also enhances our capability to implement world- leading technologies that set new standards in sustainability and efficiency in the mineral sector. Being able to commence work on our pilot plant and the subsequent feasibility studies with the world-leading research of Edith Cowan University and the unique skills and experience of CPC Engineering will position Impact Minerals at the forefront of the global HPA market, ready to meet increasing demands with a sustainably produced, high-quality product. The project is scheduled to advance from initial trials to a definitive study phase swiftly, ensuring timely delivery of HPA and fertilizer samples to potential customers and partners. This grant and likely contributions from the R and D rebate will ensure our next stage of work after the PFS will be well funded.”
The research project brings together three groups with the unique assets and skills to bring the Lake Hope project to fruition.
Impact has developed innovative metallurgical processes to produce HPA and fertiliser by-products from the salts in the Lake Hope deposit, which will be mined and trucked to Kwinana for processing. The mining and processing will have a minimal environmental footprint, with no on-site beneficiation required at the mine, nominal long-term rehabilitation requirements and one of the lowest Scope 1 and Scope 2 CO2 emissions of any HPA production process globally (ASX Release June 19th 2024).
The Mineral Recovery Research Centre at ECU, led by Associate Professor Amir Razmjou, is a world leader in Membrane Selective Technology (MST) in which plastic or ceramic membranes are used to remove a wide variety of contaminants from reagents and water. The technology is well-established in water treatment, and the MRRC is adapting the technology to the mining industry.
Impact believes MST to be a further game changer for producing HPA, and in particular, for cost-effective reagent regeneration and removal of contaminants in waste water. This, in turn, will lead to lower energy costs, emissions and, in particular, operating costs for the project. It adds to the overall small environmental footprint of the Lake Hope project and the research aims to design a “zero-liquid discharge” project to minimise or even eliminate waste from the process.
CPC Engineering is completing the engineering design studies and estimates of the operating and capital costs for the proposed 10,000 tonnes per annum HPA plant as part of Impact’s Pre-Feasibility Study on Lake Hope (ASX Release October 9th 2024). Eugenia Phegan of CPC, who has previous experience in building HPA pilot plants, recognised the potential of MST for Lake Hope and Impact thanks her for her insight and energy in helping design and complete the grant application as well as her on-going contribution to the Lake Hope journey.
CPC will design, build and manage the pilot plant under the research project. In addition, Impact will also work with ECU and CPC to generate new uses for HPA.
About the Grant and Future Directions
The CRC-P grant of $2.87 million aims to foster the development of competitive, sustainable, and productive Australian industries through strategic research collaborations. Impact Minerals, along with its partners, will fund the remainder of the $6.4 million project, being $3.53 million, with cash and in-kind contributions. Impacts contribution will be about $1.7 million, much of which will be potentially eligibility for the Research and Development rebate of 43%.
Click here for the full ASX Release
This article includes content from Impact 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.
Impact Minerals Limited Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Impact Minerals Limited
Investor Insight
With a mining lease application underway and a scoping study that shows excellent economics, Impact Minerals’ game-changing, advanced Lake Hope high-purity alumina project makes for a compelling investment case.
Overview
Impact Minerals (ASX:IPT) is an exploration and development mining company focused on discovering and developing new resource projects within Australia. Lake Hope, a transformational acquisition by the company and its current flagship asset, is a high-purity alumina (HPA) project in Impact’s home territory of Western Australia, a tier-one jurisdiction.
This advanced-stage project allows the company to fast-track the asset toward development, firmly establishing the company on the road to production and increasing shareholder value.
HPA is a high-value product with various uses in several industries that are key to the transition to a low-carbon world. It is mainly used in LED lighting, micro-LED screens, and ceramic-coated separators in lithium-ion batteries. Both these markets are forecast to grow dramatically over the next decade, and a looming supply shortage is predicted for 2026.
HPA is also necessary for producing synthetic sapphire and scratch-resistant glass. With these ever-widening applications for HPA, demand for this resource is expected to grow from US$3.18 billion to US$12.21 billion by 2030 with a compounded annual growth rate of about 20 percent.
Lake Hope is the company’s current focus as it moves towards production, and where a very shallow, high-grade resource of HPA precursor material has been identified in the top two meters of a dry salt lake. The deposit has unique physical and chemical properties that will allow for inexpensive digging and mining, with transportation to a processing facility off-site in an established industrial area. This will accelerate the approvals processes required to get into production.
With a mining lease application pending, Impact aims to bring Lake Hope, which contains almost 1 million tons of potential HPA, into production when the forecast average price for 4N HPA (99.99 percent Al2O3) and related products is about US$20,000 per ton. The ‘4N’ designation indicates the purity grade, making it suitable for high-tech end uses.
Outstanding economics from the latest scoping study released by the company shows Lake Hope’s potential to be the lowest-cost producer of HPA globally by up to 50 percent.
Lake Hope has a maiden mineral resource estimate (MRE) of 3.5 million tons at 25.1 percent alumina (Al2O3) for a contained 880,000 tons of alumina. The company also received heritage clearances for the entire Lake Hope deposit further de-risking the project and providing another critical component in the company’s application for a mining lease.
Impact completed a bulk sampling and test pits program at the Lake Hope project in December 2023, and later reached a key milestone by producing HPA greater than 99.99 percent (4N) purity from the metallurgical processing of lake clays acquired from Lake Hope.
In February 2024, a new proprietary metallurgical process for producing HPA from the lake clays was identified. Impact produced 99.99 percent (4N) Al2O3 from a low-temperature leach (LTL) process. The LTL process may lower the capital and operating costs to produce HPA compared to the sulphate process which underpinned the recent scoping study. The LTL process will be included in the ongoing pre-feasibility study in parallel with the sulphate process at marginal extra cost to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
A comparison of the LTL process and the sulphate process
The company is well funded to finance the pre-feasibility study at the Lake Hope High Purity Alumina project and exploration activities at the Arkun battery minerals project.
Impact Minerals has been awarded a $2.87 million grant for the commercialisation of its innovative process to produce High Purity Alumina (HPA) from the Lake Hope deposit. The grant is under the Federal Government’s Cooperative Research Centres Projects (CRC-P) program which fosters short-term, industry-led research collaborations. The grant is part of an estimated $6.4 million research and development project to be completed within three years and designed to provide Impact with the relevant information required to complete a definitive feasibility. A key component of the grant funding will be to construct a pilot plant, which is a key goal for 2025, and this will provide consistent material for off-take and qualification trials.
Impact Minerals was also one of the inaugural cohort of seven companies selected to be part of the prestigious BHP Xplor program. BHP Xplor, an accelerator program introduced by BHP in August 2022, is designed to help provide participants with the opportunity to accelerate their growth and the potential to establish a long-term partnership with BHP and its global network of partners.
The BHP Xplor funding was used to identify new target areas for copper and other energy metals around the Broken Hill area in New South Wales, eastern Australia, where Impact has been quietly adding to its ground position for several years.
Additionally, the company is exploring its large Arkun battery metals project, also in Western Australia which covers nearly 2,900 square kilometres. Three new exploration licence applications were submitted recently immediately north of the Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe, and the Caligula copper anomaly. These anomalies require drill testing which will occur in 2024 and is an exciting development in the emerging mineral province of southwest WA.
A strong management team with over 50 years of combined industry experience leads the company. With a mining and exploration geology degree, Dr. Mike Jones, managing director, launched a long career consulting and leading mining organizations. Peter Unsworth, the non-executive chairman, has more than 35 years of experience in multiple financial sectors, such as securities industries and wealth management. Paul Ingram, a non-executive director, has led several mining companies since 2003. Impact Minerals has the experience and expertise to lead the company to success.
Company Highlights
- Impact Minerals is an exploration and development mining company focused on rapidly moving its flagship Lake Hope high-purity alumina (HPA) project toward production.
- The Lake Hope project has a high-grade maiden mineral resource estimate (MRE) of 3.5 million tonnes at 25.1 percent alumina (Al2O3), for a contained 880,000 tonnes of alumina that can be converted to HPA.
- HPA is used throughout multiple industries, and the overall HPA market is projected to grow by a CAGR of 18.4 percent by 2030.
- A pre-feasibility study is currently in progress and scheduled to be completed by Q4 2024. A mining lease application for the Lake Hope High Purity Alumina (HPA) was recently lodged with the aim of being granted by 2026.
- The company’s project portfolio also includes assets with high-grade mineral deposits of a range of base, critical and precious metals.
- Impact Mineral’s 2,000-square-mile Arkun nickel-copper-PGE project in Western Australia has produced encouraging assays that motivate further exploration. Maiden drill programmes are planned for early 2025.
- The company is also exploring its Broken Hill copper project in New South Wales following a major grant under the auspices of the BHP Xplor program in 2023..
- A strong management team leads the company with experience in geology, mining and corporate finance.
Key Projects
Lake Hope HPA Project
Impact Minerals’ Lake Hope HPA project is in Western Australia, a tier-one mining jurisdiction. HPA is a crucial component in many new and emerging technologies, creating ongoing demand for high-grade sources. The Lake Hope project is the company’s flagship as it moves toward production.
Project Highlights:
- Maiden Mineral Resource Estimate: A maiden mineral resource of 3.5 million tonnes at 25.1 percent alumina (Al2O3) for a contained 880,000 tonnes of alumina has been defined at the Lake Hope HPA Project. About 88 percent of the resource, or 775,000 tonnes of alumina, is in the higher confidence indicated resource category.
- Amenable to Open-pit Mining: The Lake Hope project is a unique HPA asset amenable to shallow, open-pit mining. The deposit is soft and shallow, allowing for cheap digging and minimal infrastructure requirements. This type of deposit also lowers the environmental footprint of the operation.
- Fast-tracked to Production: A mining lease application is currently underway. Once granted, the company will begin working towards a pre-feasibility study and mini pilot plant. Impact Minerals plans to reach a complete pilot plant by 2026.
- Impressive Results of the 2023 Scoping Study: Outstanding economics show Lake Hope to potentially be the lowest-cost producer of High Purity Alumina (HPA) globally by up to 50 percent. Key outcomes from the scoping study include:
- Annual production of 10,000 tpa of 4N HPA with an initial 25-year mine life
- Annual EBITDA of A$174 million.
- 2 years construction period with 5,000 tonnes of production during the first year, 8,000 tonnes in the second year and 10,000 tonnes of production thereafter.
- US$934 million post-tax NPV8 at an IRR of 55 percent.
- Mining Lease Application: Amining lease application was lodged in mid-2024 over the West Lake resource while a miscellaneous licence application (L63/99) was lodged to cover mine infrastructure and haulage road.
The scoping study was underpinned by a sulphuric acid process allowing the company to achieve a new milestone by producing HPA with purity of more than than 99.99 percent (4N) from the metallurgical processing of lake clays acquired from Lake Hope. The company further identified a new proprietary metallurgical process for producing HPA from the lake clays. Known as the low-temperature leach (LTL) process, this also produced 99.99 percent (4N) Al2O3 and has the potential to lower even further the capital and operating costs to produce HPA compared to the sulphate process. The LTL process will be included in the ongoing pre-feasibility study along with the sulphate process to determine the best processing route to HPA. The PFS is due to be completed in late 2024.
Broken Hill Copper Project
The Broken Hill project has a significant land position of 815 square kilometers and hosts multiple targets with the potential for high-grade copper. Broken Hill is located in New South Wales, Australia, an area known for its prolific silver-lead-zinc mining operations and the giant Broken Hill deposit.
Project Highlights:
- Participant in the BHP Xplor Program: Impact was selected for the BHP Xplor program in 2023 based on its Broken Hill project. The program is designed to allow participants to accelerate growth and establish a long-term partnership with BHP.
- Potential for Additional Minerals and Deposits: As well as copper, the project has significant exploration potential for magmatic nickel-copper-PGE sulphides, and at the time the host rocks were formed, Broken Hill was located close to the world-class nickel-copper-PGE deposit of Jinchuan and the significant Lengquisheng deposit. The project area also has the potential to contain zinc-lead-silver deposits, providing even more value.
Arkun Nickel-Copper-Gold-Lithium-REE Project
The Arkun project is a 2,900-square-kilometer nickel, copper and gold project located in the emerging Ni-Cu-PGE province near the world-class Julimar Ni-Cu-PGE deposit and surrounded by Anglo American Corporation, which secured its ground holding shortly after Impact secured its asset. Anglo-American is one of the world’s top ten mining companies, and their presence in the region brings confidence in the project’s potential.
Project Highlights:
- Additional Exploration Underway: Impact plans follow-up work programs, including drilling, at its priority targets.
- Significant Targets Identified: Recent soil sampling identified two new prospects:
- Hyperion prospect - Located in the northwestern part of the project area returned with rare earth element anomalism of up to 5,880 ppm (0.59 percent) total rare earth oxide (TREO+Y) and neodymium and praseodymium (Nd+Pr) of up to 21 percent.
- Caligula prospect - Initially identified on the roadside, the Caligula prospect is a large and significant target for porphyry copper mineralisation.
- Three New Exploration Licences: Impact applied for three new exploration licences expanding Arkun project along trend from the recently discovered REE soil geochemistry anomalies at Hyperion, Swordfish and Horseshoe as well as the Caligula copper anomaly.
Management Team
Peter Unsworth - Non-executive Chairman
Peter Unsworth, formerly a chartered accountant, has over 35 years of experience in the corporate finance, investment and securities industries and a wealth of management experience with public and private companies. A former executive director with a leading Western Australian stockbroking company, Unsworth has been a director of several public exploration and mining companies. He recently completed a long time serving as chairman of the Western Australian Government-owned Gold Corporation (operator of The Perth Mint). Unsworth is the founding chairman of Impact Minerals.
Dr. Mike Jones - Managing Director
Dr. Mike Jones is the founding managing director of Impact Minerals Limited, which was listed on the Australian Stock Exchange in November 2006. Reporting to the board of directors, he is responsible for the company's performance as it moves towards production at its Lake Hope High Purity Alumina Project and also for implementing strategies to explore and maximize the value of the company's other extensive tenement holdings.
Since listing, he has helped raise more than $60 million to help fund the exploration of Impact’s projects and managed the company through significant adverse events, including the global financial crisis and the Fukushima nuclear disaster, which affected Impact’s considerable investment in the uranium sector, a five-year global downturn in the mining sector and more recently, the COVID-19 pandemic.
Paul Ingram - Non-executive Director
Paul Ingram is a geologist with extensive experience managing major mineral exploration programs for several publicly listed companies and has been involved in the mining sector for over thirty years. He has designed and implemented innovative techniques for exploration in remote areas and has managed projects in countries throughout Australia and East Asia. Ingram has been a director of the following listed companies in the past three years: Polo Resources from January 2008 to January 2011; A-Cap Resources since June 2009; Consolidated Global Investments since September 2006; Caledon Resources from February 2003 to March 2008; and Australian Pacific Coal since March 2011.
Dr Frank Bierlein - Non-executive Director
Dr. Frank Bierlein is a geologist with 30 years of experience as a consultant, researcher, lecturer and industry professional. Bierlein has held exploration and generative geology management positions with QMSD Mining, Qatar Mining, Afmeco Australia and Areva NC, and consulted for, among others, Newmont Gold, Resolute Mining, Goldfields International, Freeport McMoRan, and the International Atomic Energy Agency. He is currently a non-executive director of PNX Metals. He was previously a non-executive director of Gold Australia NL and chaired the advisory board of a Luxembourg-based private equity fund between 2014 and 2021.
Dore Copper Mining: Copper-Gold Exploration in the Chibougamau area of Québec, Canada
Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF,FRA:DCM) is positioning itself as a near-term producer in the prolific Chibougamau region of Québec, Canada. The company is actively advancing its assets toward production, taking advantage of its brownfields high-grade copper and gold projects, existing infrastructure, and supportive jurisdiction. The company aims to establish itself as Quebec’s next copper producer, with a hub-and-spoke mining strategy centered around its Copper Rand mill.
Doré Copper Mining operates in the Chibougamau mining camp, an area known for its historical copper and gold production, within the world-renowned Abitibi Greenstone Belt. The company’s flagship asset, Corner Bay, is complemented by several other projects, including Devlin, Joe Mann, Cedar Bay, and Copper Rand. These properties form the foundation of Doré Copper Mining’s near-term and future production plans.
Doré Copper Mining’s assets are located within a well-known copper and gold mining region, with a long history of production. The company’s current strategy revolves around a hub-and-spoke model, with the Copper Rand mill serving as the processing hub, fed by multiple satellite deposits. The key projects in the PEA include Corner Bay, Devlin, and Joe Mann. Other past producing mines, like Cedar Bay and Copper Rand, have further exploration potential.
Company Highlights
- Doré Copper Mining’s hub-and-spoke mining model—using the Copper Rand mill as the central processing facility for its satellite deposits—would support an initial production target of more than 50 million pounds of copper equivalent annually, with a mine life exceeding 10 years.
- A Preliminary Economic Assessment (PEA) was released in 2022 outlining a relatively modest initial capital expenditure of C$180.6 million, highlighting the economic potential of the project with an after-tax net present value (NPV) of C$193 million and an internal rate of return (IRR) of 22.1 percent.
- A feasibility study is underway, which is expected to provide more detailed engineering data and further de-risk the operations
- Corner Bay, the flagship asset, is among the highest-grade copper deposits in North America, with an indicated resource of 2.6 million tonnes at a grade of 2.66 percent copper and an inferred resource of 5.8 million tonnes at a grade of 3.44 percent copper.
- The 100 percent owned Copper Rand mill will be refurbished for future production and will be the only operating mill in the Chibougamau region. The mill will have extra capacity and provides the ability to process its own ore while potentially offering toll milling services to other nearby mining projects.
- Doré Copper Mining is led by an experienced and highly skilled management team.
This Doré Copper Mining profile is part of a paid investor education campaign.*
Click here to connect with Dore Copper Mining (TSXV:DCMC) to receive an Investor Presentation
Completion of Transformational Mt Isa Copper and Uranium Acquisition
- Completed the acquisition of all the issued capital in Capella Metals Limited (Capella) (Capella Acquisition). Capella holds a 100% legal and beneficial interest in one granted exploration permit, EPM 28620, and three exploration permit applications, being EPM 28791, EPM 28792 and EPM 28793 (together, the Capella Tenements); and
- Exercised the option (Bacchus Option) with Bacchus Resources Pty Ltd (Bacchus) and subsequently completed the acquisition of a 100% legal and beneficial interest in the five granted exploration permits, being EPM 26987, EPM 27570, EPM 27947, EPM 27439 and EPM 28297 (together, the Bacchus Tenements) (Bacchus Acquisition).
Key Highlights:
- NIS has completed the acquisition of a 100% interest in the Mt Isa North Copper and Uranium Project comprising highly prospective exploration permits covering 2,003km2 in the Mt Isa region in Northwest Ǫueensland, Australia.
- The fully underwritten pro rata non-renounceable entitlements offer to raise $2.1 million has completed.
- In accordance with the Capella Acquisition Agreement, NIS has appointed Bruno Seneque and Richard Maddocks to the Board of the Company as Non-Executive Directors with effect from today.
- NIS is now well funded to commence undertaking exploration activities at Mt Isa North Project with 1,500m reverse circulation (RC) drilling campaign at the high-grade Surprise Cu-Au-Ag prospect, planned for Ǫ4-CY24, subject to all approvals being received.
The Capella Tenements and the Bacchus Tenements (collectively, the Mt Isa North Project) are a portfolio of granted exploration permits and exploration permit applications covering 2,003km2 in the Mt Isa region, Northwest Ǫueensland, Australia. The Mt Isa North Project is considered prospective for copper , uranium, and zinc-lead-silver deposits.
The Mount Isa region is one of the world’s premier exploration and mining locations and hosts extensive mining-oriented infrastructure, numerous mines and processing facilities, water and power utilities, rail and national highway transport connections, frequent commercial air services, and a skilled labour force.
Capella’s exploration model at Mount Isa recognises that world-class discoveries may be made in structurally favourable sites in parts of the stratigraphy largely overlooked by previous explorers, as well as in various units of known prospectivity that have only been superficially explored within the Mt Isa North Project.
Further details about the Mt Isa North Project are set out in the Company's ASX announcement dated 28 August 2024.
Entitlement Offer
In addition, as announced on 11 September 2024, the Company has successfully raised $2,135,424 (before costs) under its Entitlement Offer, which was on the basis of 2 New Shares for every three 3 Shares held by eligible shareholders with 1 free-attaching unquoted option (exercisable at $0.03 and expiring on 30 June 2027) (New Option) for every 2 Shares subscribed for and issued.
Capella Acquisition
The Company, Capella and the key shareholders of Capella (Major Capella Shareholders) entered into a share purchase agreement (Capella Acquisition Agreement) pursuant to which the Company agreed to acquire 100% of the issued capital in Capella from the Major Capella Shareholders. Subsequently, the Company entered into separate share purchase agreements with each minority shareholder of Capella (Minor Capella Shareholders). The Major Capella Shareholders and Minor Capella Shareholder (together, the Capella Vendors) are unrelated third parties of the Company.
In connection with the Capella Acquisition, the Company agreed to issue 88,419,220 Shares (Capella Consideration Shares) to the Capella Vendors (or their nominees) on a pro-rata basis and 15,829,526 unquoted options exercisable at $0.03 on or before 30 June 2027 (New Options) (Capella Consideration Options) to certain Capella Vendors (or their nominees). The Company has since issued the Capella Consideration Shares and Capella Consideration Options to the Capella Vendors in their respective proportions.
In addition, the Company agreed to appoint Mr Bruno Seneque and Mr Richard Maddocks, who were existing directors of Capella, to the Board of the Company as Non-Executive Directors. The Company has now appointed Mr Bruno Seneque and Mr Richard Maddocks to the Board of the Company as Non-Executive Directors with effect from today.
Appendix 3X’s for Messrs Seneque and Maddocks are to be released subsequently.
Further details summarising the material terms of the Capella Acquisition Agreement are set out in the Company's ASX Announcement dated 28 August 2024.
Click here for the full ASX Release
This article includes content from NickelSearch 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.
September 2024 Qtr. Activities Report
Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is an ASX-listed Critical Minerals exploration company which is advancing projects within the Fifield (“FI”) and Broken Hill (“BH”) districts of New South Wales (Figure 1).
Highlights
- Maiden Scandium (Sc) Mineral Resources estimated for the Melrose and the northern portion of the Murga area (“Murga North”) comprising;
- 3Mt @ 240 ppm Sc (1,120t Sc Oxide) Indicated and Inferred Mineral Resource at Melrose
- 21Mt @ 125 ppm Sc (4,050t Sc Oxide) Inferred Mineral Resource at Murga North which is open to the south and west
- Significant upside demonstrated by an Exploration Target for the broader Murga area and pipeline of satellite Scandium prospects
- Rimfire funded infill aircore drilling at the Murga Exploration Target has commenced
- Initial assay results for Bald Hill step out diamond drilling confirms high-grade cobalt mineralisation (with associated copper);
- 18m @ 0.16% Co, 0.16% Cu from 110 metres including 5m @ 0.21% Co, 0.23% Cu
- South 32 (S32.ASX) and Red Hill Minerals (RHI.ASX) have recently farmed into leases immediately adjoining Rimfire’s Broken Hill Project
- Rimfire raised $1.15M during the quarter with a placement and an additional $1.2M post end of Quarter following exercise of Options
Commenting on the Quarterly Activities report, Rimfire’s Managing Director Mr David Hutton said: “Rimfire continues to explore for and discover the critical minerals that are associated with global decarbonisation strategies. We are leveraged to and provide unique ASX investment exposure to scandium – an extremely valuable metal.
Announcing maiden Mineral Resource estimates for both Melrose and Murga North as well as the significant upside demonstrated by the Murga Exploration Target is a hugely pivotal moment for the company and its shareholders as we work towards building a globally significant scandium resource inventory across our projects in the Fifield district of NSW.
We have also commenced infill drilling to potentially convert the Murga Exploration Target into our third Scandium Mineral Resource estimate
Along with our Broken Hill Project cobalt and copper exploration success, Rimfire now has several emerging critical mineral opportunities to drive enduring shareholder value”.
Introduction & Operational Summary
During the September 2024 Quarter (the “Quarter”), Rimfire announced a 3Mt @ 240 ppm Sc (1,120t Sc Oxide) Indicated and Inferred Mineral Resource estimate at Melrose and a 21Mt @ 125 ppm Sc (4,050t Sc Oxide) Inferred Mineral Resource at Murga North, together with an Exploration Target for the surrounding Murga area (excluding Murga North) of 100 to 200Mt at 100 to 200ppm Sc (15Kt – 46Kt Scandium Oxide)*.
Declaring maiden Scandium Mineral Resources for Melrose and Murga North and an accompanying Exploration Target for the broader Murga area is an important first step in achieving Rimfire’s objective of building a globally significant scandium resource inventory at Fifield.
Murga North and Murga lie on the Fifield Project and Melrose lies on the Avondale Project. At the end of the Quarter, Rimfire issued a notice of termination to Rimfire’s exploration partner Golden Plains Resources (GPR) in respect of the Fifield Project Earn-in Agreement, with the termination stated to take immediate effect.
The Company exercised a termination right which has arisen as a result of a change of control of GPR following the judgement of the Victorian Supreme Court in: Resource Capital Ltd v Giovinazzo [2024] VSC 548 (Judgement), delivered 6 September 2024.
Separately on its 100% - owned projects, Rimfire drilled 5 diamond holes (974 metres) to test for extensions to previously drilled high-grade cobalt mineralisation at the Bald Hill Cobalt Copper prospect at Broken Hill. Assays received for the first drill hole confirmed further high-grade cobalt mineralisation and associated copper, i.e.; 18m @ 0.16% cobalt, 0.16% copper from 110 metres including 5m @ 0.21% cobalt, 0.23% copper.
Looking ahead to the December 2024 Quarter, our primary focus will be aircore drilling at the Murga Exploration Target to infill existing 400m x 400m spaced drill holes. Rimfire will also receive the remaining assay results from the Bald Hill drilling.
Click here for the full ASX Release
This article includes content from Rimfire Pacific Mining 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.
September 2024 Quarterly Activities Report
Anax Metals Limited – “consolidating base metals production in the Pilbara”
Anax Metals Limited (ASX: ANX, Anax, the Company) is pleased to provide its Activities Report and Appendix 5B for the quarter ended 30 September 2024 (Quarter).
Highlights:
- Massive sulphide mineralisation intersected in drilling at Evelyn
- Multiple exciting high-potential VMS targets identified
- Memorandum of Understanding (MOU) executed with Artemis Resources Ltd
- Commercial-scale trial of aggregate production from previously mined waste rock paves the way for possible near-term revenue through the production of road base and aggregates
- Advancement of the project growth processing hub studies
- Strategic capital raise of $2.54 million completed post Quarter-end
Project Growth (Exploration)
Diamond Drilling
In July 2024, Anax announced commencement of a diamond drilling programme at the Evelyn deposit (Figure 1).12 The programme was designed to increase drill density and test for down- plunge extensions below a 2022 RC hole, 22AER005B, which intersected 13m @ 4.46% Cu, 3.10% Zn, 45 g/t Ag and 1.61 g/t Au from 204 m (Figure 2).2
Figure 1: Whim Creek Project Location in the Pilbara Region of Western Australia
Figure 2: Evelyn Long Section (local grid) showing CuEq grade x thickness contours and current drilling pierce points. The view direction is to northwest.2
The drilling programme was successfully completed in late August 2024 with all holes intersecting visual sulphide mineralisation.13
The best observed intersection from the drilling programme was from 24AED002A, which encountered a strongly mineralised zone between 176.45m and 189.9m. Preliminary results from Minalyzer continuous XRF-scanning have confirmed the high-grade nature of the intersection (Table 1 and Figure 3).13
Table 1: Significant continuous XRF-scanning results for 24AED002A1
CAUTIONARY STATEMENT ON CONTINUOUS XRF SCANNING RESULTS:
Core was processed through the Minalyzer CS (Minalyzer) continuous XRF scanning unit in Perth. Six trays of calibration core samples were submitted with the new drilling, but no high-grade mineralisation was available. The results presented in this announcement are therefore considered partially calibrated as the upper limit of likely assays are not represented in the calibration core. The XRF results that are subject of this report will be submitted for laboratory assay and some variation from the results presented herein should be expected. For further information about the XRF scanning results and Minalyzer refer to the ASX Announcement dated 27 August 2024.
Click here for the full ASX Release
This article includes content from Anax 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.
5 Best-performing Junior Copper Stocks on the TSXV in 2024
Copper prices saw significant momentum in the first half of the year, surging above the US$10,000 per metric ton mark on the London Metals Exchange.
Although prices have retraced to around the US$9,400 mark, they remain elevated in comparison to prices in 2023.
Support for the metal has come from a combination of factors including increasing demand from energy transition sectors that is coming alongside strained supply due to underdevelopment and geopolitical issues.
How have these dynamics affected small-cap copper explorers on the TSXV? Below are the five best-performing junior copper stocks since the start of 2024. Data for this article was gathered on October 16, using TradingView's stock screener, and all companies had market caps of over C$10 million at that time.
1. Koryx Copper (TSXV:KRY)
Year-to-date gain: 388.89 percent
Market cap: C$62.28 million
Share price: C$1.10
Koryx Copper is focused on the advancement of copper exploration projects in Namibia and Zambia. Its flagship asset is the Haib copper project located in Southern Namibia near the border with South Africa.
In an amended preliminary economic assessment released on January 8, the company indicated 20 million metric tons per year of ore processing with 85 percent copper recovery for a yearly production of 38,337 metric tons of copper and an additional 51,081 metric tons of copper sulfate.
Since the start of 2024, Koryx has published several assay results from exploration at Haib, the most recent came on August 8 when the company provided final results from its 2024 drill program. In the announcement, the company highlighted near-surface grades of 0.30 percent copper over 44 meters, including an intersection of 0.5 percent copper over 8 meters.
Company President and CEO Pierre Léveillé said the program demonstrates that the deposit can deliver grades over 0.3 percent copper for substantial width in the project area. He also said the results indicate above average grades in the outer limits of the deposit.
Following the final results, Koryx released an updated mineral resource estimate from Haib on September 10. The announcement reported indicated resources of 1.46 million metric tons (MT) contained copper from 414 million MT of ore at an average grade of 0.35 percent along with additional inferred resources of 1.14 million MT of copper from 345 million MT of ore at 0.33 percent.
The most recent news from Koryx came on October 15 when it announced it had closed an oversubscribed first tranche of its non-brokered private placement. The company said it had raised C$9.67 million in funding for the sale of 8.79 million common shares and would be increasing the size of the offering up to C$17 million. Koryx noted that the second tranche was fully subscribed and would be closing shortly.
Funds raised will be used to advance the Haib copper project and the Luanshya West copper-cobalt project in Zambia as well as general working capital purposes.
Shares of Koryx reached a year-to-date high of C$1.24 on September 24.
2. Sandfire Resources America (TSXV:SFR)
Year-to-date gain: 244.44 percent
Market cap: C$317.24 million
Share price: C$0.31
Sandfire Resources America is a copper development company focused on its Black Butte copper project located east of Helena, Montana, in the US. In 2021, a state district court revoked the company's mine operating permit for Black Butte, halting construction activities of the underground mine.
Sandfire describes the project as one of the highest grade undeveloped copper deposits in the world; a resource estimate for the project's Johnny Lee deposit completed in 2020 reported measured and indicated resources of 10.9 million metric tons grading 2.9 percent copper for a total of 311,000 MT contained copper.
Shares of Sandfire soared following a February 26 decision by the Montana Supreme Court to reinstate the company's mine operating permit. The win is a crucial step for it to continue the construction of its mine.
Sandfire is working to improve Black Butte's economics as it works towards a final investment decision. The most recent update from the project came on July 25, when the company released an exploration update that highlighted high-grade copper intercepts of 12.8 percent copper over 13.2 meters.
Although, much of Sandfire’s focus in 2024 has been on the exploration and development of Black Butte, the company also has two copper-producing assets: Motheo in the Kalahari Copper Belt in Botswana and MATSA in the Iberian Pyrite Belt in Spain. In the company’s FY24 report released on August 29, Sandfire reported that it produced 109,000 MT of copper equivalent during the fiscal year, an increase of 47 percent over FY23.
Shares of Sandfire reached a year-to-date high of C$0.395 on May 12.
3. T2 Metals (TSXV:TWO)
Year-to-date gain: 234.78 percent
Market cap: C$15.93 million
Share price: C$0.385
T2 Metals is a copper exploration company that has spent 2024 focusing on advancing its Sherridon copper, gold and zinc project near Flin Flon, Manitoba, Canada.
The property consists of 28 mining claims and one mineral lease over 4968 hectares, with T2 holding an option agreement with Halo Resources for a 90 percent earn-in stake. The site was home to the Sherridon/Sherritt Gordon mine, which was in operation until 1955 and milled 7.55 million MT of ore with an average grade of 2.46 percent copper.
Today, Sherridon hosts several inferred resources with near-surface targets having been identified with limited drilling activity.
T2 has been exploring Sherridon in 2024, with the latest update coming on October 3 when it announced it had completed the summer/fall phase of its core drilling program, consisting of 2,180 meters across eight holes. The remaining 1,800 meters will be carried out in the first quarter of 2025 after the ground freezes.
The completion of summer drilling marked an expenditure milestone for T2 in its option agreement. The company now owns an 80 percent stake in Sherridon.
In addition to its work at Sherridon, T2 reported on September 18 that it had completed a follow up sampling and mapping at its early stage Copper Eagle project located in Douglas County, Nevada, US, and is awaiting results. Its past samples from the site indicated high sulfidation with elevated tellurium, selenium, antimony, copper and gold.
Share prices in T2 reached a year-to-date high of C$0.395 on October 14.
4. Hannan Metals (TSXV:HAN)
Year-to-date gain: 211.11 percent
Market cap: C$68.65 million
Share price: C$0.56
Explorer Hannan Metals is focused on advancing gold, silver and copper deposits in Latin America.
The San Martin project is a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC), a Japanese government agency established in 2004 to secure stable resources and fuel supplies. Under the terms of the agreement, JOGMEC can earn up to a 75 percent stake in the project if all its funding goals are met.
The site is located northeast of Tarapoto, Peru, and hosts a copper and silver system with 120 kilometers of combined strike. Exploration has shown grades at the Tabalosos target of 4.9 percent copper and 62 grams per metric ton (g/t) silver over 2 meters.
In addition to the JOGMEC joint venture, Hannan wholly owns the Valiente project, which hosts a previously unknown porphyry and epithermal mineralized belt within a 140 kilometer by 50 kilometer area containing copper, gold, molybdenum and silver.
Results from two channel samples were reported in early August confirming extensive leached copper mineralization at the Previsto Central prospect. The two channels, separated by 700 meters, had grades of 0.22 percent copper over 126 meters and 0.16 percent copper over 192 meters. Hannah said the results continue to further their understanding of the mineralization system, with gold-rich areas at higher elevations that transition into copper-rich areas at lower elevations.
This was followed by news on October 8 that the company completed the first stage of an induced polarization geophysical survey at the Previsto prospect. Combined with its other data, the results confirm a 6 kilometer by 6 kilometer copper and gold porphyry epithermal mineralization system. Hannan said the survey identified seven high priority targets that the company is now evaluating for drilling.
Shares in Hannan reached a year-to-date high of C$0.63 on July 22.
5. Awalé Resources (TSXV:ARIC)
Year-to-date gain: 207.14 percent
Market cap: C$39.06 million
Share price: C$0.43
Awalé Resources is a copper and gold explorer focused on its Odienné project in Côte D’Ivoire.
The site, located in the country’s northwest, covers an area of 2,462 square kilometers across two granted permits and five under application; two are being advanced as part of an earn-in joint venture with Newmont (TSX:NGT,NYSE:NEM). Newmont has the chance to earn up to 65 percent ownership of the permits via exploration expenditures of US$15 million.
On May 15, Awalé announced it had advanced to the second phase of its earn-in agreement. The completion of phase 1 of the agreement comes after it had carried out drilling at the Charger and BBM targets during early 2024 exploration programs.
To earn the final 14 percent of the earn-in agreement requires Newmont to fund an additional US$10 million toward exploration of the project. Company CEO Andrew Chubb said that Awalé is on good footing to deliver exploration success between the funding from Newmont and Awalé's C$11.5 million bought-deal equity financing closed on May 8.
Awalé has delivered several exploration announcements in 2024, the latest coming on September 9, when it reported highlighted assays of 0.48 percent copper over 35 meters, including an intersection of 0.6 percent copper over 23 meters at the BBM zone.
Shares in Awalé reached a year-to-date high of C$0.98 on March 25.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Awalé Resources is a client of the Investing News Network. This article is not paid-for content.
Dore Copper Mining
Investor Insight
Doré Copper Mining is advancing high-grade projects in the Chibougamau region through a hub-and-spoke strategy centered around its flagship high-grade copper Corner Bay deposit, leveraging its unique advantage of owning the only mill in the area, while benefiting from supportive communities and existing infrastructures.
Overview
Doré Copper Mining (TSXV:DCMC,OTCQB:DRCMF,FRA:DCM) is a copper-gold exploration and development company, positioning itself as a near-term producer in the prolific Chibougamau region of Québec, Canada. With a clear strategic focus, Doré Copper Mining is actively advancing its assets toward production, taking advantage of its brownfields high-grade copper and gold projects, existing infrastructure, and supportive jurisdiction. The company’s overarching goal is to establish itself as Quebec’s next copper producer, with a hub-and-spoke mining strategy centered around its Copper Rand mill.
Doré Copper Mining's operations are located in the Chibougamau mining camp, an area known for its historical copper and gold production, within the world-renowned Abitibi Greenstone Belt. The company’s flagship asset, Corner Bay, is complemented by several other projects, including Devlin, Joe Mann, Cedar Bay, and Copper Rand. These properties form the foundation of Doré Copper Mining’s near-term and future production plans.
The company is unique because it owns the only mill in the area. The Copper Rand mill is designed to process an average of 1,350 tonnes-per-day and will need to be refurbished. This infrastructure gives Doré Copper Mining a significant competitive advantage, both in terms of reducing capital expenditure requirements and potentially generating additional revenue streams by processing ore from third-party operations.
Québec, as a mining jurisdiction, provides strong support for mineral exploration and development. It ranks highly in the Fraser Institute’s rankings of mining-friendly jurisdictions, offering political stability, favorable tax incentives, and access to well-established infrastructure, including roads, rail, and power.
Doré Copper Mining is led by an experienced and highly skilled management team. Ernie Mast, the company’s president and CEO, has over three decades of experience in the mining industry, including leadership roles at companies such as Primero Mining and Minera Panama (Inmet Mining). Mast’s background in managing junior and small-cap mining companies is well-suited to Doré Copper Mining’s current development phase. The broader management and technical teams bring a wealth of operational expertise, with several individuals having extensive experience in exploration, project development, and mining operations in Canada and internationally.
Company Highlights
- Doré Copper Mining’s hub-and-spoke mining model—using the Copper Rand mill as the central processing facility for its satellite deposits—would support an initial production target of more than 50 million pounds of copper equivalent annually, with a mine life exceeding 10 years.
- A Preliminary Economic Assessment( PEA) was released in 2022 outlining a relatively modest initial capital expenditure of C$180.6 million, highlighting the economic potential of the project with an after-tax net present value (NPV) of C$193 million and an internal rate of return (IRR) of 22.1 percent.
- A feasibility study is underway, which is expected to provide more detailed engineering data and further de-risk the operations
- Corner Bay, the flagship asset, is among the highest-grade copper deposits in North America, with an indicated resource of 2.6 million tonnes at a grade of 2.66 percent copper and an inferred resource of 5.8 million tonnes at a grade of 3.44 percent copper.
- The 100 percent owned Copper Rand mill will be refurbished for future production and will be the only operating mill in the Chibougamau region. The mill will have extra capacity and provides the ability to process its own ore while potentially offering toll milling services to other nearby mining projects.
- Doré Copper Mining is led by an experienced and highly skilled management team.
Key Projects
Doré Copper Mining’s assets are located within a well-known copper and gold mining region, with a long history of production. The company’s current strategy revolves around a hub-and-spoke model, with the Copper Rand mill serving as the processing hub, fed by multiple satellite deposits. The key projects in the PEA include Corner Bay, Devlin, and Joe Mann. Other past producing mines, like Cedar Bay and Copper Rand, have further exploration potential.
Corner Bay (Main Asset):
Corner Bay is the cornerstone of Doré Copper Mining’s portfolio. This copper-gold deposit has demonstrated exceptional grades and exploration potential, positioning it as one of the highest-grade copper projects in North America. The latest resource estimate, as of 2022, includes 2.7 million tonnes of indicated resources at a grade of 2.66 percent copper and 5.8 million tonnes of inferred resources at a grade of 3.44 percent copper. The deposit remains open in several directions and at depth, suggesting that further drilling could potentially expand the resource base and extend the mine life.
Corner Bay is expected to be mined by longhole open stoping with pillars and Avoca underground mining methods. The project will utilize existing infrastructure, including a portal and decline to a depth of 115 meters. The ore will be processed at the Copper Rand mill, with pre-concentration of the material through ore sorting technology at the Corner Bay site.
The PEA for the project anticipates a mine life of over 10 years, with the potential to produce 53 million pounds of copper equivalent annually. Metallurgical testing at Corner Bay has yielded positive results, with copper recoveries ranging from 96.8 percent to 98.2 percent, and the concentrate is of high commercial quality, making it highly attractive to smelters.
Devlin (Secondary Asset):
Devlin is a smaller satellite deposit located approximately 10 kilometers west of Corner Bay. The project has a measured and indicated resource of 775,000 tonnes at a grade of 2.17 percent copper, along with an inferred resource of 484,000 tonnes at a grade of 1.79 percent copper. While Devlin’s size is modest compared to Corner Bay, it plays a crucial role in Doré Copper Mining’s hub-and-spoke mining strategy. Ore from Devlin will be transported to Corner Bay for pre-concentration, before being trucked to the Copper Rand mill for final processing. The company is planning to employ room-and-pillar and drift-and-fill mining methods at Devlin, with operations expected to commence shortly after Corner Bay comes online.
Cedar Bay:
Cedar Bay is a past-producing mine located near the Copper Rand mill. It produced 3.9 million tonnes of ore at an average grade of 1.63 percent copper and 3.21 grams per tonne gold during its operating life. Doré Copper Mining drilling programs have defined in the southwest zone 130,000 tonnes of indicated resources at a grade of 9.44 grams per tonne gold and 1.55 percent copper, and 230,000 tonnes of inferred resources at a grade of 8.32 grams per tonne gold and 2,13 percent copper .
Joe Mann:
The Joe Mann gold-copper deposit is another component of Doré Copper Mining’s hub-and-spoke strategy. Located 60 km south of the Copper Rand mill, Joe Mann produced 1.2 million ounces of gold and 28 million pounds of copper over its mine life, at an average grade of 8.26 grams per tonne gold and 0.25 percent copper. The current resource estimate includes 608,000 tonnes of inferred resources, with an average grade of 6.78 grams per tonne gold and 0.24 percent copper. The PEA plan is to have Joe Mann operational once Devlin is depleted, and its ore will also be processed at the Copper Rand mill.
Copper Rand:
Copper Rand was historically the largest copper mine in the Chibougamau camp, producing over 16 million tonnes of ore during its operational life, which spanned from 1959 to 2008. The mine has excellent exploration potential, particularly at depth, where limited drilling was conducted before the mine’s closure. Copper Rand has historical reserves and resources, and excellent potential below previously mined areas.
Board and Management
Mario Stifano – Executive Chairman and Director
Mario Stifano is a seasoned mining executive and chartered professional accountant with over 16 years of experience working with exploration, development and producing mining companies. Stifano is currently the chief executive officer of Galantas Gold. Stifano has held a number of senior executive positions including chief executive officer of Cordoba Minerals, executive chairman with Mega Precious Metals, vice president and chief financial officer with Lake Shore Gold, and vice president and chief financial officer of Ivernia. Stifano has been instrumental in raising over $700 million to explore and fund mining projects, including raising over $500 million at Lake Shore Gold, to develop three gold mines which are currently producing over 180,000 ounces of gold annually, and are now part of the Canadian assets within Pan American Silver.
Ernest Mast – President, CEO, and Director
Ernest Mast has 30 years of experience in various technical and executive roles in the mining industry, across a wide range of commodities, geographies and development stages. Mast is on the board of Scottie Resources. Mast previously held the positions of president and chief executive officer at Primero Mining, vice president of corporate development at Copper Mountain Mining, vice president of operations at New Gold and president and CEO of Minera Panama S.A., Inmet Mining Corporation’s subsidiary, developing the $6 billion Cobre Panama project. Mast began his career with Noranda and its affiliates, where he took on roles of increasing responsibility over a 20-year timeframe. Mast is a member of l’Ordre des ingénieurs du Québec and has a bachelors’ and masters’ degree in metallurgical engineering from McGill University. Mast also received post-secondary business training at Henley College in the UK and at the Universidad Catolica in Chile.
Gavin Nelson – CFO
Gavin Nelson has over 15 years of finance experience in public practice and corporate accounting and reporting, including being responsible for all levels of financial reporting and day-to-day accounting oversight for several public mining exploration companies. Nelson has held a number of financial oversight positions in mineral exploration companies, including chief financial officer of Mexican Gold. Nelson is a member in good standing of the chartered professional accountants of Ontario. Nelson holds a Bachelor of Administrative and Commercial Studies (Finance), with a minor in Political Science, from the University of Western Ontario.
Nicholas Kwong – COO
Nicholas Kwong, P.Eng., MBA, has more than 15 years of corporate, technical, operations experience in the mining industry, predominantly in gold and base metals in North American, Australia, Latin American and Saudi Arabia. Most recently, Kwong was general manager at Ma’aden Gold’s’ Sukhaybarat & Bulghah gold mines in Saudi Arabia. There he completed the mine and mill expansion and modernization which resulted in a significant increase in production and decrease in unit costs, all while controlling capital costs during the COVID-19 pandemic. Prior, he worked at New Gold from 2005 to 2019 in progressively responsible leadership and management roles, starting as a project engineer for the design and construction of the New Afton underground mine and gradually progressing to manager of mining engineering and director of technical services.
Kwong holds a Bachelor of Applied Sciences in Mining Engineering and a Master of Business Administration from the University of British Columbia.
Latest News
Impact Minerals Limited Investor Kit
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.