The Conversation (0)
July 19, 2022
Kaiser Reef Limited (ASX:KAU) (“Kaiser” or the “Company”) is extremely pleased to report a maiden JORC Resource for the Maldon Gold Project (“Maldon”). The initial Resource Estimate has exceeded the Company’s expectations and will be the subject of mining studies with an engineering and geological team to be dedicated to investigating further drilling requirements and planning toward profitable mining at Maldon.
Importantly, the resources are situated within a granted mining licence that has extensive existing infrastructure including a modern decline (5m x 5m). Kaiser is permitted to mine at Maldon, however an emergency egress will need to be established and some infrastructure will require review and testing, before predictable and profitable production, which will now commence.
The Maldon decline portal is located only 2 kilometres to the west of Kaiser’s wholly owned gold processing plant which is currently operating profitably but well under capacity. Kaiser has a vision to develop the Maldon operations to become a two mine high grade production company.
MALDON HIGHLIGHTS
- A Mineral Resource Estimate of 1.2 Mt at 4.4 g/t gold (Inferred) for 186,656 ounces of gold; and
- An Exploration Target of 1.75 to 2.7Mt at between 3 g/t gold and 4 g/t gold for between 165,000 ounces of gold to 345,000 ounces of gold
- Extensive existing infrastructure and capital
- Existing mine permitting
- Proximity to wholly owned processing plant
- Processing plant currently operating profitably well below capacity
- Major Historic Goldfield with exceptional exploration potential. Historic production of 1.74M ounces at 28 g/t gold
Disclaimer: The potential quantity and grade of the Exploration Target is conceptual in nature and is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource
The Maldon Goldfield
The town of Maldon is located between Bendigo and Ballarat in the Victorian Goldfields. The Maldon Project (Maldon) is within a 100%-owned licence area that has produced over 1.74M ounces of gold at 28 g/t (2.1M ounces including alluvial gold). Maldon hosts one of Australia’s highest grade historic gold mines, the Nuggety Reef, that produced 301,000 ounces of gold at 187 g/t.
Maldon has an established and serviced decline which allows excellent underground access for drilling high-grade shoots and is currently facilitating the underground drilling and ultimately, could allow recommencement of modern mining if exploration is successful.
The Maldon goldfield is located in the Bendigo Zone and is hosted in similar geology and has undergone the same broad structural deformation and mineralisation events as regional Bendigo. Large deposits within the Bendigo area currently being exploited include the Fosterville Mine operated by Kirkland Lake Gold (Canada). The regional-scale mineralisation event is also the driver of goldfields at Bendigo, Fosterville, Castlemaine, Maldon and Daylesford.
One of the Maldon’s key advantages is the extensive existing infrastructure and proximity to Kaiser’s operating gold processing plant (2 km away) and that it is held under a granted Mining Licence. Kaiser is well staffed and has the capacity to move forward with the implementation of a viable plan.
Kaiser considers Maldon to be an underexplored and prospective prolific high grade historic goldfield. Exploration at Maldon remains a high priority objective for Kaiser.
The majority of recent drilling has targeted the historic high-grade mineralisation around the Alliance South Shoot lode within the Eaglehawk Reef, one of Maldon’s largest high-grade Reefs that produced nearly 500,000 ounces of gold (Figure 1). Kaisers initial drilling program targeted regions identified as being close to the existing underground development and with historically encouraging results within the Union Hill decline. This drilling has identified mineralised areas and will step out to explore for and define economic ore zones judiciously.
Click here for the full ASX Release
This article includes content from Kaiser Reef 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.
KAU:AU
7h
Executing WA Gold Strategy
Metal Bank Limited (ASX:MBK) (‘MBK’ or ‘the Company’) advises that it has signed a non-binding term sheet (Term Sheet) with Hastings Technology Metals Ltd (ASX:HAS) (HAS) for the acquisition of the gold assets of HAS, (subject to due diligence, binding documentation and other conditions precedent including MBK shareholder approval) (Proposed Acquisition), and has commenced a scoping study for the Kingsley and Homestead deposits at the Livingstone Project, furthering its Western Australian focussed gold strategy to expand MBK’s WA gold portfolio and move to production.
- Terms agreed to acquire the gold assets of Hastings Technology Metals Ltd (HAS), including the Whiteheads Project, for MBK shares, subject to binding documentation and other conditions precedent
- Livingstone Scoping Study for the Kingsley and Homestead deposits is underway
- Livingstone and HAS’ Whiteheads projects well placed for further exploration and fast-tracking to production
Expanding MBK’s WA gold portfolio – HAS to vend its WA gold assets into MBK for shares*
In accordance with the Term Sheet, MBK is to acquire:
- Great Western Gold Pty Ltd (GWG), the holder of a 75% interest in the Whiteheads Gold Project JV tenements and other tenements 100% held by GWG (refer Appendix 1), covering ~380km2 located approximately 80km NE of Kalgoorlie (Whiteheads Project);
- Ark Gold Pty Ltd (Ark), the holder of the Ark gold project, comprising two exploration licences located approx. 40km southeast of HAS’ Yangibana Project, 250 km northeast of Carnarvon in Western Australia (Ark Project); and
- The Darcy’s gold project comprising 3 exploration licenses covering an area of ~ 100km2 situated adjacent to HAS’ Brockman Niobium and Heavy Rare Earths Project in the East Kimberley region of Western Australia (Darcy Project).
*The Proposed Acquisition is subject to satisfactory completion of mutual due diligence, which is currently in progress, signing of binding documentation, MBK shareholder approval under Listing Rule 7.1 and other necessary approvals, including ASX review pursuant to Listing Rule 11.1.
As consideration for the Proposed Acquisition, MBK will issue to HAS MBK Shares (Consideration Shares) for a total value of $2,300,000, at a share price of $0.014373, being the 10 day VWAP at the date of signing the term sheet. The consideration comprises $2,000,000 for the HAS Gold Assets plus $300,000 for the cash balance to be held by GWG at Completion.
A deferred consideration of $800,000 to the vendors of Whiteheads and subject to defined resource milestones being achieved remains payable by HAS over the next five years1.
It is the intention of HAS to seek approval of its shareholders to the distribution of the Consideration Shares in-specie to its shareholders, following completion of the acquisition.
Charles Lew will join the board of MBK as a non-executive director and the Board has agreed to appoint Tim Gilbert, currently Chief Operating Officer with HAS, as MBK’s new CEO following completion. Ines Scotland will remain as MBK’s Chair in a non-executive role.
Mr Gilbert is a mining engineer with more than four decades of experience in a range of senior roles in the resources sector across multiple commodities, including battery and base metals, diamonds and gold. His expertise covers a range of strategic, operational, construction and technical roles for major contractors including Theiss, as well as global mining companies including Rio Tinto, Newmont and Gold Field Australia where he was VP Operations and previously General Manager, Agnew Gold Mine.
A summary of the agreed terms for the Proposed Acquisition is set out later in this release.
Fast-tracking Livingstone and Whiteheads to production.
MBK has commenced a scoping study for the Homestead and Kingsley deposits at Livingstone. These projects hold JORC 2012 Mineral Resource Estimates2 from surface of:
- 1.68Mt @ 1.35g/t Au for 73.0koz Au, 100% Inferred at Kingsley;
- a total of 1.00Mt @ 1.35g/t Au for 43.4koz Au at Homestead, comprising 83% Indicated – 821Kt @1.37g/t Au for 36.2koz Au and 17% Inferred – 183Kt @1.22 g/t Au for 7.2koz Au;
Mark Cossom and Peter Lester are managing the scoping study for MBK and a mine services group has been engaged to undertake the necessary pit design and technical work. Mark is a consultant geologist and was formerly managing director of Gateway Mining Ltd and prior to that General Manager – Geology and Exploration with Doray Minerals Ltd. Peter Lester is a consultant mining engineer to MBK with over 40 years’ experience in the mining industry.
In addition, MBK has engaged the services of Stuart Stephens to provide exploration management services for the Livingstone project, including progressing mining proposals and necessary approvals required to proceed to production. Stuart is a geologist and former Exploration Manager at Gateway Mining with extensive experience in the WA mining and environmental regulatory framework.
Since acquiring Whiteheads earlier this year, HAS has developed a strategy of fast-tracking the Seven Leaders and Blue Poles deposits to open pit. HAS will commence drilling at Whiteheads in the coming weeks for a maiden JORC Resource and small mining proposals and associated approvals will follow.
MBK’s Chair Ines Scotland commented: “Adding the HAS gold assets plus experienced management to MBK provides MBK with scale for future gold production. The HAS gold projects complement our strategy for the Kingsley and Homestead projects at Livingstone that we are now advancing to Scoping Study stage. The HAS acquisition furthers our strategy of building a gold portfolio in WA with assets that have the potential for near term production utilising nearby third- party processing infrastructure, as well as significant exploration upside. We are looking forward to welcoming Charles Lew to the Board and Tim Gilbert joining as CEO to assist us in implementing our strategy.”
Commenting on the Term Sheet for sale of Hastings’ gold assets, Hastings Executive Chairman, Mr Charles Lew said:
“I am pleased to see the strategic integration of our Whiteheads Project with Metal Bank’s Livingstone Project, creating a promising pathway toward early cash flow through the Seven Leaders deposit. The addition of Hastings gold assets, complemented by experienced management and a clear focus on near-term production opportunities in WA, positions the enlarged company well for future growth. Capitalising on the strong gold price and a talented management team, we aim to realize the full potential of these assets and to advancing our shared strategy for building a robust gold portfolio."
Click here for the full ASX Release
This article includes content from Metal Bank 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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8h
Exceptional result of 32m @ 7gt Au in Lord Byron drilling
Brightstar Resources (BTR:AU) has announced Exceptional result of 32m @ 7gt Au in Lord Byron drilling
11h
Jaime Carrasco: Gold, Silver, Miners — Where to Focus in Monetary Storm
Jaime Carrasco, senior portfolio manager and senior financial advisor at Harbourfront Wealth, shares his thoughts on gold and silver, emphasizing that it's important to keep the big picture in mind.
"In a nutshell, we're going back to a return to sound money — money not backed by the word of a politician and bankers, but by something sound like gold, which (has been) money for 4,000 years," he said.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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16h
Gold and Silver Stocks Dominate TSX30 List of Top Performers
The Toronto Stock Exchange (TSX) has released its annual TSX30 list, showcasing the 30 top-performing companies that are making the most impact in driving Canada’s economy forward.
Established in 2019, the TSX30 ranks stocks by their dividend-adjusted share price performance over three years.
The list was released on Tuesday (September 9), a day after the S&P/TSX Composite Index (INDEXTSI:OSPTX) reached an all-time high of 29,027. It's up 17.18 percent since the start of the year and nearly 30 percent since September 2024.
Mining stocks have helped drive these gains, and companies in the sector claimed 17 spots on this year's TSX30 list. Gold and silver miners dominated, accounting for 15 of the 17 resource sector stocks on the list.
The top-ranked precious metals producer was Lundin Gold (TSX:LUG,OTCQX:LUGDF), which took second place overall on the list, recording a 775 percent share price gain over the past three years.
Its surge has largely been driven by increasing output at its Fruta del Norte operation in Ecuador. According to Mining Data Online (MDO), its gold output came in at 502,000 ounces in 2024 and is projected at 475,000 to 525,000 ounces in 2025.
At number five was Avino Silver & Gold Mines (TSX:ASM,NYSEAMERICAN:ASM), which has gained 610 percent over the past three years. Silver production at its namesake mine in Durango, Mexico, reached a record 1.11 million ounces in 2024. In December 2024, the firm started development work at its La Preciosa project, also in Durango.
Since the start of the year, Avino’s share price has increased by more than 350 percent.
At number 11 is New Gold (TSX:NGD,NYSEAMERICAN:NGD), a mid-tier producer with two gold mines located in BC and Ontario. According to MDO, its Rainy River mine in Southwest Ontario recorded gold output of 226,000 ounces in 2024, while new Ashton increased its production to 72,000 ounces, up from 63,000 ounces in 2023 and 38,000 ounces in 2022.
The company beat its low-end guidance for all-in sustaining costs in 2024 at US$1,239.
The remaining precious metals-focused companies on the TSX30 list are: Kinross Gold (TSX:K,NYSE:KGC) (12), IAMGOLD (TSX:IMG,NYSE:IAG) (13), Torex Gold Resources (TSX:TXG,OTCQX:TORXF) (14), Alamos Gold (TSX:AGI,NYSE:AGI) (19), Perpetua Resources (TSX:PPTA,NASDAQ:PPTA) (21), Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) (22), China Gold International Resources (TSX:CGG) (25), Dundee Precious Metals (TSX:DPM) (26), Eldorado Gold (TSX:ELD,NYSE:EGO) (27), Galiano Gold (TSX:GAU,NYSEAMERICAN:GAU) (28), Skeena Resources (TSX:SKE,NYSE:SKE) (29) and Taseko Mines (TSX:TKO,NYSEAMERICAN:TGB) (30).
The non-gold resource companies listed are Almonty Industries (TSX:AII,NASDAQ:ALM) (10) and Cameco (TSX:CCO,NYSE:CCJ) (23). In the top spot overall was Celestica (TSX:CLS,NYSE:CLS), which provides artificial intelligence-powered supply chain optimization solutions. Over the past three years, its share price has gained 1,599 percent.
Gold and silver producers have fared well in 2025 as uncertainty bleeds into the global economy on the back of shifting US trade policies. This has prompted many investors to turn to the safety and stability of precious metals.
Gold has risen to record highs above US$3,600 per ounce in recent days, while silver is trading above US$40 per ounce.
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.
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09 September
North American Mining Conferences Presentation
08 September
Fortune Bay: Maximizing Shareholder Value in Gold and Uranium
Fortune Bay (TSV:FOR) is a gold developer-explorer focused on unlocking value at the steepest part of the Lassonde Curve. The company combines a de-risked Canadian gold project with transformational discovery potential in Mexico, while also exploring partner-funded uranium assets.
Backed by strong community partnerships and a disciplined approach, Fortune Bay’s share structure positions it for multiple near-term catalysts as capital returns to quality juniors.
The Goldfields project in Saskatchewan, Canada, is situated in a top-tier mining jurisdiction with road access, proximity to hydropower, historical infrastructure, and advanced permitting groundwork. The 2022 PEA outlined average production of 101 koz/yr over 8.3 years, with C$234 million initial capex and life-of-mine AISC of US$889/oz (base case US$1,650/oz), showing strong sensitivity to higher gold prices. In 2025, the company engaged Ausenco for an updated PEA and commenced permitting to support future production — both initiatives are now underway.
Company Highlights
- Cycle-smart model: Advancing projects through discovery, resource expansion and early-stage development, then monetizing before the capital-intensive build phase.
- Flagship development-ready gold asset in Saskatchewan, Canada: Goldfields project with open-pit 0.98 million ounce (Moz) indicated @ 1.31 grams per ton (g/t) gold and 0.21 Moz inferred @ 0.92 g/t gold; 2022 PEA shows robust economics; a 2025 PEA update is underway alongside permitting and existing infrastructure reducing risk and timelines.
- Poma Rosa Project (Mexico): Historical gold resource at Campamento (1.04 Moz measured and indicated; 0.70 Moz inferred) sitting atop an untested porphyry system – offering both near-term ounces and discovery blue-sky; community re-engagement progressing to enable exploration restart. Historical estimate, not treated as current under NI 43-101.
- Uranium optionality, non-dilutive: Advancing Murmac & Strike (optioned to Aero Energy) and The Woods (optioned to Neu Horizon) under partner capital while Fortune Bay remains operator, leveraging uranium expertise, offsetting overhead and preserving discovery upside and exposure to uranium market tailwinds.
- Strong leadership: Led by discovery-driven geologists and capital-markets veterans with a track record of building and monetizing companies.
This Fortune Bay profile is part of a paid investor education campaign.*
Click here to connect with Fortune Bay (TSXV:FOR) to receive an Investor Presentation
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