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Paradigm for Parity honors impactful female leaders on Women's Equality Day
New team to undertake strategic technical review and prioritise key assets
Kairos Minerals (ASX: KAI) ("the Company" or "Kairos Minerals ") is pleased to report on its Quarterly activities for the period ending 31 March 2022.
Highlights
- Cash position at the end of March of $7.5M.
- Experienced executives Mr Phil Coulson and Mr Zane Lewis appointed to board
- Company undertaking a thorough strategic and technical review of all lithium and gold projects
- Executive search underway for CEO/Managing Director
- New gold target identified at Mt York with anomalous rock chip samples up to 4.6g/t
- Lithium targets identified at Lalla Rookh Project • Large surface lithium and caesium anomaly defined at Roe Hills Project
- Large number of assays in laboratory – results expected Q2:
- Mt York (RC): over 4,000 single-metre samples and over 400 four-metre composite samples
- Mt York (Aircore): over 400 four-metre composite samples
- Kangan (Aircore): over 500 four-metre composite samples
- Kangan (Aircore): over 80 single-metre samples
- Croydon (Soil samples): over 300 samples
- Roe Hills (Soil samples): over 3,000 samples
CORPORATE
During the quarter, Mr Terry Topping and Mr Bruno Seneque tendered their resignations as directors. As a result of these resignations, the 249D notices received by the Company referred to in the ASX announcement on 8 March 2022 were withdrawn and Messrs Phil Coulson and Zane Lewis have been appointed as Directors effective 24 March 2022.
Upon appointment, Messrs Coulson and Lewis have initiated a strategic and technical review of the Company’s gold and lithium projects with a view to optimising exploration expenditure to match strategic objectives and exploring all opportunities to enhance shareholder value.
CASH ON HAND
At the end of the March 2022 quarter, the Company had cash and cash equivalents of $7.52million. In addition the company holds $432K of investments in ASX listed entities.
During the March 2022 quarter, there was a net increase in cash and cash equivalents of $2,449K as a result of 157,185,104 shortfall shares being issued to clients of CPS Capital in accordance with the Underwriting Agreement to raise $3.9 million before costs. Transaction costs of $357K relating to the issue of the shortfall shares was paid in the quarter.
Expenditure of $1,486k related to payments for exploration activities conducted on the Company’s Pilbara and Eastern Kalgoorlie (Roe Hills) exploration projects as detailed in the activities report below.
Administration costs increased for the quarter due to the termination payments for Messrs Topping and Seneque, legal fees and other operating activities.
The Company is reviewing all corporate expenditure with a view to minimising overheads where applicable.
EXPLORATION
PILBARA GOLD PROJECT, PILBARA REGION (KAIROS: 100%)
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This article includes content from Kairos 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.
KAI:AU
Acquisition of Penny South Gold Project, WA
HIGHLIGHTS
- Binding Tenement Sale Agreement to acquire 100% of the Penny South Gold Project (E57/1045) to bolster West Australian Gold exploration portfolio
- Penny South Gold Project located in world class gold district and ~550m south of one of Australia’s highest grade producing gold mines1, the Penny West/North Gold Mine (“Penny”), owned and operated by Ramelius Resources Limited (ASX:RMS) (“Ramelius”):
- The Penny West mine produced 154,000t at 18g/t Au (89,000 Au) in the early 1990’s2.
- The initial Penny North deposit of 569,000t at 16.8g/t (306,000oz) was discovered by Spectrum Metals Limited and subsequently subject to a takeover by Ramelius for >$200M during 20203, with the deposit now being mined and extended.
- The Penny West Shear, which hosts the Penny deposits, continues south into the Penny South Project (E57/1045) with ~2.5km of strike contained in E57/1045.
- Average historical drill hole depth across E57/1045 is ~42m, with only 18 holes deeper than 100m and 7 holes deeper than 200m4 5, with no diamond drilling.
- Historic drilling within E57/1045 has encountered various significantly anomalous intersections of gold mineralisation5.
- Review of all available data to generate high priority drill targets underway.
Commenting on the acquisition Managing Director Peter Woods said:
“We are extremely pleased to have reached an agreement for the acquisition of the Penny South Project. The addition of this exciting gold exploration asset next door to one of the highest-grade gold mines in production in Western Australia, and in a district seeing current M&A activity, greatly enhances our existing portfolio. Given the minimal deeper drilling and lack of diamond drilling, it is the Company’s view there may be substantial value to be unlocked at depth and we are eager to execute a path forward to test the theory as the momentum for gold continues.”
Penny South Gold Project, WA
The Penny South Gold Project (E57/1045) (Map 1) lies only 550m south of Ramelius’ operating Penny West/North gold mine project (Map 2), which is estimated to contain 440,000t of ore at 22g/t Au (320,000oz Au) (“Penny”)6. NKL’s Penny South Gold Project captures a ~2.5km strike extension of the Penny West Shear immediately south of Ramelius’ Penny deposits, southern Youanmi Greenstone Belt (Map 3).
Map 1: Location of the Penny South Project (E57/1045).
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Nimbus Zinc Silver Project Update
HIGHLIGHTS
- The current global Mineral Resource estimate for Nimbus stands at:
- 12.1Mt grading 52g/t Ag for 20.24Moz of silver and 0.9% Zn for 106kt zinc 1
- A high-grade subset exists within this global resource immediately below the historical pits and has a Mineral Resource estimate of:
- 260kt grading 774g/t Ag for 6.4Moz silver and 12.8% Zn for 33kt zinc 1
- Concept study has confirmed the optimal economic development pathway through mining of the higher-grade lodes and generation of a silver / zinc concentrate with more drilling required to increase overall tonnage and mine life 2
- Silver currently trading at A$42/oz and zinc at A$4,000/t
- A Programme of Work (POW) has been approved by DEMIRS and drilling expected to be undertaken in the first half of 2025 to drill test the exploration target 3
- Exploration Target defined below Nimbus to be tested.
Commenting on the Nimbus silver-zinc project, Horizon Managing Director and CEO Mr Grant Haywood said:
“We see the potential to grow the higher-grade core within the Nimbus resource at depth down plunge and along strike. Whilst we are firmly focussed on delivering on gold production at Boorara and Phillips Find, the Company will continue working to develop a longer-term production profile at Nimbus. We look forward to undertaking drilling in 2025 with the aim of increasing the resource prior to re-instigating a feasibility study for the project”.
Cautionary Statement – Exploration Target
The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and there is no certainty that further exploration work will result in the determination of mineral resources. See the basis of exploration target on pages 6 and 15-17, also Tables on pages 21-24, Competent Persons Statement on Pages 18.
Figure 1: Kalgoorlie project area locations and surrounding infrastructure
The Nimbus Project is sits 2km east of the Company’s cornerstone Boorara project and 6.5km north- northwest of Golden Ridge. Both Boorara and Golden Ridge are historic gold mining centres, with Boorara recommencing production activities.1 The Nimbus mine site on granted mining leases M26/490 and M26/598 and easily accessed from the Kalgoorlie-Bulong Road via an unsealed haul road. The tenements are located within the Hampton Hill Pastoral Station (Figure 2).
The Nimbus Project was mined by Polymetals in two stages. Phase 1 (Jan 2004 – April 2005) concentrated on mining extremely weathered oxide material in the Discovery and East Pits. Phase 2 (Nov 2005 – May 2006) concentrated on mining remnant oxide and supergene material from the Discovery Pit. Ore treatment was undertaken at an onsite mill utilising a Merrill-Crowe circuit.
The Nimbus Silver-Zinc Project was placed on care and maintenance in 2007 after producing 3.6 Moz of silver from 318 kt of ore processed at a grade of 353 g/t Ag.
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This article includes content from Horizon 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.
Newmont's Lori Douglas Honored as a 2024 Paradigm for Parity Woman on the Rise
Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) today announces Lori Douglas , Newmont's Head of Productivity for North America, has been honored as one of Paradigm for Parity's Women on the Rise for 2024. This recognition, in acknowledgement of Women's Equality Day, highlights Lori's exceptional leadership, commitment to advancing women in the workplace and continued efforts to promote diversity and inclusion.
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Newmont's Lori Douglas Honored as a 2024 Paradigm for Parity Woman on the Rise (Photo: Business Wire)
"Lori is a leader who has consistently worked to advance and inspire colleagues around the business," said Jennifer Cmil, Newmont's Chief People Officer. "Through her thoughtful leadership initiatives at the Cripple Creek and Victor mine, she has championed IDE practices while also helping to drive important cultural shifts to improve employee experience in the workplace. This recognition is a powerful testament to her commitment to cultivating an innovative and equitable workplace, particularly in a historically male-dominated industry."
The "Women on the Rise" award celebrates women who are not only rising stars in their companies but are also striving to be catalysts for change. Recipients of the award embody leadership qualities such as courage, innovation, authenticity, creativity, and a dedication to fostering environments where diversity and inclusion thrives, and where women can excel.
"The issue of gender parity feels more urgent than ever before, and these honorees have gone above and beyond to catalyze change and continue moving our mission forward," said Nadine Bullock-Pottinga, Paradigm for Parity CEO. "We look forward to seeing the contributions that these powerful women make in their workplaces and beyond."
In addition to her role as Head of Productivity for North America, where she oversees productivity improvements across seven sites, Lori has demonstrated an unwavering commitment to driving change. As the executive sponsor of the Cripple Creek & Victor mine's Women and Allies Business Resource Group, she has spearheaded efforts to break down barriers for women, ensuring that opportunities in mining are accessible and equitable for all. Her leadership has been instrumental in fostering a workplace where diverse voices are not only heard but also can contribute to the organization.
Paradigm for Parity is dedicated to addressing systemic barriers to close the gaps in gender and racial parity and transforming corporate culture to ensure all individuals can thrive. As a proud founding member of the coalition in 2016, Newmont joined as a reflection of its commitment to closing the gender gap and creating a supportive and inclusive work environment for all.
To learn more about the fight for gender parity and the 2024 Women on the Rise nominees, please visit Paradigm for Parity .
About Paradigm for Parity
As a nonprofit founded by a group of women executives in 2015, the Paradigm for Parity® coalition supports its 150+ member companies around the world in achieving gender parity including racial equity in their corporate leadership within 15 years of joining the coalition. The organization develops and promotes actionable strategies that transform corporate culture, so that women of all races, cultures and backgrounds have equal power and opportunity.
About Newmont
Newmont is the world's leading gold company and producer of copper, zinc, lead, and silver. The company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, the company has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, go to www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20240827356045/en/
Media Contact:
Jennifer Pakradooni
globalcommunications@newmont.com
Investor Contact:
Neil Backhouse
investor.relations@newmont.com
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