
June 16, 2024
Sarama Resources Ltd. (“Sarama” or the “Company”) (ASX:SRR, TSX- V:SWA) is pleased to present its investor presentation.
INVESTMENT HIGHLIGHTS
50KM UNEXPLORED GREENSTONE BELT IN WA + 0.5M OZ OF GOLD IN WEST AFRICA
Sarama has signed a Non-Binding MOU1 to acquire the Cosmo Newbery Project, highlights include:
- Project situated on one of the last unexplored greenstone belts in Western Australia
- Tenure is contiguous over 583km2 and covers the entire +50 km of greenstone belt
- The belt has seen virtually no modern exploration and no drilling of merit
- Located 95km west of +7Moz Gruyere (Gold Road) and 85km northeast of Laverton
- Documented historical gold workings (discovered in 1890’s)
- Reserve since 1980 but Land access now obtained, easy access via Great Central Road
Material additional value includes:
- Burkina Faso gold assets including 100% owned, 0.5Moz (Inf) Bondi Gold Deposit2
- Significant arbitration claim3
COSMO NEWBERY PROJECT LOCATION
LOOKING FOR GOLD IN AN AREA SURROUNDED BY GOLD
EXPLORATION OPPORTUNITY
LARGE AND PROSPECTIVE SYSTEM WITH MULTIPLE TARGETS TO BE TESTED
- Cosmo Newbery greenstone belt has clear gold showings and strong geological and structural similarities to the adjacent Dorothy Hills greenstone belt which hosts the +7Moz Gruyere gold deposit
- Project is underlain by prospective volcanic and volcano-sediment rocks with localised intrusives, however is mostly under shallow cover and has seen little to no significant exploration
- A major regional fault/shear system extends for over 50km through the Project
- The fault/shear system combined with granite-greenstone rocks has the potential to provide requisite fluid pathways and favorable host rocks that are amenable to gold mineralization
- Historic, small-scale mining east of this regional system indicates gold deposition in the immediate area
- Soil geochemical and geophysical surveys identified numerous exploration targets for gold and nickel-cobalt
- Currently 8 areas of interest & 17 specific interpreted targets for follow up
This article includes content from Sarama Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
SRR:AU
Sign up to get your FREE
Sarama Resources Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
The Conversation (0)
20 May
Sarama Resources
Investor Insight
Sarama Resources offers a compelling investment opportunity driven by a +US$120 million fully-funded arbitration claim and two new belt-scale gold projects encompassing 1,000 km2 of the Cosmo Newbery and Jutson Rocks Greenstone Belts in Western Australia’s prolific Eastern Goldfields.
Overview
Sarama Resources (TSXV:SWA,ASX:SRR) is an Australian gold exploration and development company with two key value drivers: a fully funded, multi-million-dollar arbitration claim and two highly prospective gold projects in Western Australia’s Eastern Goldfields. Each of these presents significant standalone value, while together they offer strong upside and optionality for investors.
Sarama recently secured the Cosmo Newbery and Mt Venn Gold Projects, covering 580km² and 420km² respectively. These projects encompass the majority of the greenstone belts they are located within - regions historically underexplored but geologically similar to the nearby Dorothy Hills belt, host to Gold Fields’ +8Moz Gruyere Gold Mine. Both projects offer a compelling exploration opportunity in one of Australia’s most prolific gold provinces.
In parallel, Sarama is advancing a fully funded arbitration claim against the Government of Burkina Faso, seeking no less than US$120 million in damages. The claim is backed by a non-recourse loan facility, with leading international law firm Boies Schiller Flexner - renowned for securing large settlements - engaged to lead proceedings.
The Company is led by a highly experienced board and management team with a strong track record in gold discovery and development, including the +25Moz Kibali Gold Mine and the +3Moz Sanutura Gold Project.
Sarama’s Regional Exploration Strategy
Sarama’s regional strategy is centred on unlocking value across 1,000km² of contiguous, underexplored greenstone terrane in one of Australia’s most productive gold provinces. With 100% control of the Cosmo Gold Belt and a majority stake in Mt Venn, Sarama is strategically positioned between two of the region’s most prolific gold belts - Yamarna/Dorothy Hills to the east and Laverton to the west.
Both projects share key geological signatures with nearby multi-million-ounce deposits and benefit from existing infrastructure and access. The Company’s exploration efforts will focus on high-priority targets across both belts, with systematic programs planned throughout 2025 to rapidly advance discovery.
Together, Cosmo Newbery and Mt Venn offer a rare opportunity to explore at scale in a region that has delivered some of the largest gold discoveries in recent decades - yet remains largely underexplored.
Company Highlights
- Sarama Resources is advancing two key value drivers: a fully funded, multi-million-dollar arbitration claim and two highly prospective belt-scale gold projects in Western Australia’s Eastern Goldfields.
- The flagship Cosmo Gold Project spans 580km², covering much of the underexplored Cosmo Newbery Greenstone Belt. Complementing this, Sarama holds an 80% interest in the 420km² Mt Venn Project, located just 40km from both its Cosmo Project and Goldfields +8Moz Gruyere Gold Mine. The region has remained largely under-explored due to historical access restrictions, leaving considerable untapped potential.
- The Company is also pursuing a fully funded arbitration claim seeking not less than US$120 million in damages from the Government of Burkina Faso. This claim, related to the Sanutura Project, is supported by a non-recourse funding facility covering all legal costs, with formal proceedings initiated in December 2024.
- Sarama is led by a seasoned team with all members having over 30 years’ experience each and a strong track record in gold discovery and development.
Key Projects
Cosmo Newbery Gold Project
The Cosmo Gold Project is a unique, underexplored, belt-scale gold opportunity in Western Australia's prolific Eastern Goldfields. Sarama holds the entire Cosmo Newbery Greenstone Belt under granted exploration licenses covering approximately 583km². The belt is one of the few remaining greenstone belts in Western Australia to have seen little to no modern exploration.
The project is located approximately 85 km northeast of Laverton and 95 km west of the +8Moz Gruyere Gold Mine, operated by Gold Fields and Gold Road. The surrounding region hosts several world-class gold systems, including the Yamarna and Dorothy Hills belts to the east (home to Gruyere, the 1Moz Golden Highway, and 300koz Gilmore deposits) and the Laverton Belt to the west, with over 35Moz in gold endowment and 12Moz of historic production.
Cosmo shares strong geological and structural similarities with these prolific belts. Key elements of orogenic gold systems are present, including:
- Archaean greenstone lithologies
- Crustal-scale shear zones
- Felsic intrusions
- Localised faulting and shearing
- Historic gold mineralisation and high-grade rock chips (up to 52 g/t Au)
Despite gold first being discovered here in the 1890s, the region has seen virtually no modern exploration or drilling, offering a unique opportunity to unlock value in a highly prospective setting.
Project Highlights
- Proven Gold Terrane: Located in a world-class gold province surrounded by major deposits
- Scale and Control: 100% control of the entire Cosmo-Newbery Belt, spanning +50 km of strike
- Underexplored: Minimal historical exploration; no modern drilling of merit
- Historic Potential: Early gold discoveries in the 1890s with artisanal workings still visible
- Strategic Location: Proximal to major gold operations including the Gruyere Gold Mine and multiple large scale mines in the Laverton gold belt
Mt Venn Gold Project
The Mt Venn Gold Project is a large-scale, underexplored gold exploration asset in Western Australia’s Eastern Goldfields, located approximately 40 km east of Sarama’s Cosmo Newbery Gold Project and 40 km west of the +8Moz Gruyere Gold Mine. Sarama holds an 80% interest in the project, which spans 420km² across a substantial portion of the Jutson Rocks Greenstone Belt - a geologically prospective system with gold first discovered in the 1890s.
Mt Venn shares many geological similarities with the Cosmo Project, and is viewed as a complementary, belt-scale exploration opportunity. The project comprises three contiguous exploration tenements and hosts a 35km gold corridor, defined by semi-continuous gold-in-soil anomalies, historic workings, and encouraging drill intercepts. Historic drilling has returned multiple results of merit, including intercepts up to 8.5 g/t Au, over a 4km trend at the Three Bears Prospect.
Geologically, Mt Venn is highly prospective, featuring:
- Archaean greenstone lithologies
- A major regional shear zone running the full 50km length of the belt (1–3 km wide)
- Favourable structural and lithological settings for orogenic gold mineralisation
Despite early discoveries, the project will benefit from a systematic, project-wide approach to exploration and offers substantial discovery potential in a proven gold district.
Project Highlights
- Proven Gold Terrane: Covers a significant part of the Jutson Rocks Greenstone Belt in a region known for major gold discoveries
- Contiguous Tenure: 420km² across three tenements, including a 35km anomalous gold corridor
- Geological Potential: Hosts a large regional shear zone with associated gold mineralisation and strong structural controls
- Historic Workings: Gold discovered in the 1890s; limited systematic follow-up exploration
- Drill-Ready Targets: Historical drilling includes intercepts up to 8.5 g/t Au at the Three Bears Prospect
- Strategic Location: Positioned 40 km from Gruyere (+8Moz), 20 km from the 1Moz Golden Highway deposit, and 40 km from Sarama’s Cosmo Gold Project
Management Team
Andrew Dinning – Executive Chairman
Andrew Dinning is a founder and the Executive Chairman of Sarama Resources. Dinning has over 35 years of experience in the international mining arena and has worked in Australia, the Democratic Republic of Congo, West Africa, the UK and Russia. He has extensive mine management, operations and capital markets experience and has spent most of his career in the gold sector.
Dinning was a Director and President of the Democratic Republic of Congo-based Moto Goldmines Ltd from 2005 to 2009. He oversaw the development of the company's Moto Gold Project (Kibali Gold) from two million to more than 22 million ounces of gold. Dinning took the project from exploration to pre-development. The Moto Gold project was later taken over by Randgold Resources and AngloGold Ashanti for $600 million in October 2009.
Dinning has an MBA, a First-Class Mine Managers Certificate in Western Australia and South Australia and a Bachelor of Engineering in Mining degree.
John (Jack) Hamilton - Vice-president of Exploration
Jack Hamilton is a founder and the Vice President of Exploration at Sarama Resources. Hamilton has 35 years of experience as a professional geologist. Hamilton has worked around the world for international resource companies. Before Sarama, he was the exploration manager for Moto Goldmines in the Democratic Republic of Congo. At Moto Goldmines, he led the team that discovered the main deposits and resource at the world-class Moto Gold Project (now Kibali Gold) which has a resource of more than 22 million ounces.
Hamilton specializes in precious metal exploration in Birimian, Archean and Proterozoic greenstone belts. He has worked and consulted in West, Central and East Africa for the past 30 years with various companies, including Barrick Gold Corporation, Echo Bay Mines, Etruscan Resources Inc, Anglo American, Geo Services International and Moto Goldmines. Whilst at Moto Goldmines, he led the exploration team that took the Moto gold deposit from discovery to bankable feasibility. The Moto gold deposit was later sold to Randgold Resources and AngloGold Ashanti in October 2009.
Paul Schmiede - Vice-president of Corporate Development
Paul Schmiede is a major shareholder and the Vice President of Corporate Development at Sarama Resources. He is a mining engineer with over 30 years of experience in mining and exploration. Before joining Sarama Resources in 2010, Schmiede was Vice President of Operations and Project Development at Moto Goldmines. At Moto Goldmines, he managed the pre-feasibility, bankable and definitive feasibility study for the more than 22 million-ounce Democratic Republic of Congo-based Moto Gold Project (now Kibali Gold). Whilst at Moto Goldmines, he also managed the in-country environment, community studies and pre-construction activities. Before joining Moto Goldmines, he held senior operational and management positions with Goldfields and WMC Resources. At these companies, Schmiede was responsible for underground and open-pit operations as well as project development and planning.
Schmiede holds a first-class mine managers certificate in Western Australia and a Bachelor of Engineering in Mining degree. He is also a fellow of the Australasian Institute of Mining and Metallurgy.
Lui Evangelista - Chief Financial Officer
Lui Evangelista is Sarama's chief financial officer with 35 years of experience in accounting, finance and corporate governance with public companies. He has more than 20 years of experience in the mining industry - 10 years of which have been at the operational and corporate level with companies operating in Francophone Africa.
Evangelista held the positions of group financial controller and acting CFO at Anvil Mining which operated 3 mines in the DRC. He was an integral part of the senior management team that saw Anvil's market capitalization grow from C$100 million in 2005 to C$1.3 billion upon takeover by Minmetals in 2012.
Evangelista holds a Bachelor of Business in Accounting degree, a graduate diploma in business administration and a graduate diploma in applied corporate governance.
Simon Jackson - Non-executive Director
Simon Jackson is a founder, shareholder and non-executive chairman of Sarama Resources. Jackson is a Chartered Accountant with over 30 years of experience in the mining sector. He is the Chairman of Predictive Discovery and Non-Executive Director of African gold producer Resolute Mining. He has previously held senior management positions at Red Back Mining, Orca Gold and Beadell Resources.
Jackson specializes in M&A, public equity capital markets, management and corporate finance. His career has included corporate transactions in Canada, Australia, Africa and Indonesia. He holds a Bachelor of Commerce degree from the University of Western Australia and is a fellow of the Institute of Chartered Accountants in Australia.
Adrian Byass - Non-executive Director
Adrian Byass has more than 30 years of experience in the mining industry. He has focused his career on the economic development of mineral resources. He is skilled in economic and resource geology. Byass has experience ranging from production in gold and nickel mines to the evaluation and development of mining projects with listed and unlisted entities in multiple countries. He has also held executive and non-executive board roles on both ASX and AIM-listed companies.
Byass presently operates in a corporate and market-focused capacity on a national and international basis. He has board-level experience in mine development, capital raising and M&A in Australia and on overseas stock exchanges. Byass has played key roles in a range of exploration and mining projects in Australia, Africa, North America and Europe. These projects were based on a suite of commodities including gold, base and specialty metals.
He holds a Bachelor of Science in Geology and a Bachelor of Economics. Byass is a member of the Australian Institute of Geoscientists, a fellow of the Society of Economic Geology and a competent person for the reporting of mineral resources (JORC 2012).
Michael Bohm - Non-executive Director
Michael Bohm is a seasoned director and mining engineer in the resources industry. His career spans roles as a mining engineer, mine manager, study manager, project manager, project director, and managing director.
He has been directly involved in the development of multiple mines in the gold, nickel, and diamond industries, and made significant contributions to Ramelius Resources during its formative years. This experience is particularly important as Sarama is currently in the process of rebuilding its operations in the Eastern Goldfields region of Western Australia.
He is a current director of ASX-listed Riedel Resources and has previously been a director of ASX listed Perseus Mining, Ramelius Resources, Mincor Resources NL and Cygnus Metals.
Keep reading...Show less
Promising new gold projects in Western Australia, plus a large fully funded arbitration claim.
09 July
Completion of Tranche 1 Equity Placement & Cleansing Notice
29 June
A$2.7m Equity Placement to Fund Laverton Drilling Campaign
09 June
Sarama Outlines Extensive Gold Trends at Cosmo Gold Project
13 May
Q1 2025 Management's Discussion and Analysis
12h
Wide Gold Intercepts at Mt York Support Future Resource Growth
Three diamond drill rigs on site at 1.4Moz Mt York Gold Project, WA, with 56% of Stage 1 resource drilling complete; Results extend mineralisation along strike and at depth; good continuity of higher-grade shoots confirms new structural model
Kairos Minerals Ltd (ASX:KAI) (“KAI” or the “Company”) is pleased to announce results from the first 16 diamond holes drilled at its Mt York Gold Project in WA’s Pilbara, where current resources at the Main Trend sit at 1.4Moz Au. The results are from Gossan Hill (7 holes), Breccia Hill (5 holes) and Main Hill (4 holes) (Table 1), and are shown on drill plan (Figure 1) and long-section (Figure 2).
Highlights
- 36 holes for 10,025m completed at Mt York, ahead of schedule and on-budget; Stage 1 is an 80-hole, 18,000m resource expansion program
- Results for 16 holes received, with best intercepts including:
- 21m @ 1.87 g/t Au from 169m incl 9m @ 3.19 g/t Au (25MYDD009);
- 5m @ 4.26 g/t Au from 299m (25MYDD010);
- 34m @ 0.81 g/t Au from 242m incl 7m @ 2.66 g/t Au from 269m (25MYDD012);
- 24m @ 1.17 g/t Au from 222m incl 7m @ 2.62 g/t Au from 222m (25MYDD016);
- 48m @ 1.03 g/t Au from 227m incl 11m @ 3.38 g/t Au from 264m (25MYDD017).
- Higher-grade mineralisation consistently reported across Main Trend confirming and extending high-grade shoots at all prospects
- Encouraging first results likely to positively impact grades and widths of mineralisation for an updated resource estimate later in 2025
- Drilling accelerated with third diamond drill rig capable of low-angle drilling on site at the highly prospective but under-drilled Main Hill Prospect
Stage 1 drilling aims to boost gold resources at Mt York and test extensions of high- grade shoots ahead of a mineral resource estimate (MRE) update expected in 2H CY25. Stage 2 drilling later in the year or early 2026 aims to convert Inferred resources to higher confidence Indicated resources.
Kairos Managing Director Dr Peter Turner said: “The first results from Mt York continue to reinforce our belief in the potential scale of this project, and we are on track to deliver a new and much improved mineral resource estimate later in 2025 incorporating at least 18,000m of additional drilling results. We continue to ask ourselves ‘how big is the Mt York gold resource’ and will increase and expand Stage 1 drilling if we believe the mineralisation continues to be open which appears to be the case at the moment.
We are seeing good widths of mineralisation in areas where the resource model is unguided and importantly, solid higher-grade gold intercepts within the lower-grade envelopes. From the previous 2023 resource, Mt York has more than 750,000 ounces of gold at 1.6 g/t Au and the current drilling is confirming that high-grade shoots are both horizontal within the system, but also likely to be extensive (>300m) along-strike in both footwall and hangingwall positions. This is great news.
We are drilling the western half of the large Main Hill Prospect where the mineralised banded iron formation (BIF) host rocks attain 100m in true thickness but where topographic challenges previously prevented drilling. With a suitable small-footprint rig now in place, we can see an assemblage of sulphide-bearing BIF in many drill holes in this area that is associated with free-milling gold mineralisation in other parts of the Main Trend.
With drilling scheduled to continue into September and possibly beyond, we look forward to releasing results as they become available.
We are confident Mt York will become one of the Pilbara’s (and Western Australia’s) largest undeveloped gold resources with clean metallurgy once drilling is complete.”
Drill Results
Results from the first 16 holes are shown in Table 1. The Stage 1 drill holes have been designed to test the grades and widths of mineralisation and purposely looking for extensions of higher-grade pods within the entire 3,000m-long Main Trend Gold Deposit. The positions of the drill holes and their results are shown on Figure 1 (plan view) & Figure 2 (long-section).
Holes 25MYDD007 to 25MYDD009 test gaps in the resource model at Breccia Hill and confirm multiple zones of mineralisation, where 25MYDD009 returned high-grade core of 9m @ 3.19 g/t Au from 176m. This confirms the extension of a high-grade pod of mineralisation some 75m away from historic drillhole KMYD040’s result of 10m @ 4.90 g/t Au from 257m1, that confirms that higher-grade mineralisation may well form significant, horizontal zones previously not recognised yet confirmed in recent structural interpretation.
Deeper drilling into the eastern side of Main Hill has infilled and extended mineralisation with holes 25MYDD010, 012, 014 and 017. Big gains in both mineralisation width and grade are captured in hole 25MYDD017 that intercepted multiple zones including 48m @ 1.03 g/t Au from 227m including a higher-grade zone of 11m @ 3.38 g/t Au from 264m. This extends a new zone of high-grade mineralisation on the footwall position and forms part of the horizontal-plunging, high-grade zone drilled >300m to the west in hole 25MYDD012 (7m @ 2.66 g/t Au from 269m) extending to 25MYDD010 (5m @ 4.26 g/t Au from 299m) (see Figure 2). Another 5 drillholes are planned to the west of these holes to test the extension of the high-grade mineralisation for a further 500m to the west (Figure 1).
The results of the mineralised intercepts are considered close to true widths as the mineralisation has been intercepted orthogonally.
A third diamond drill rig (DDH1 drill rig #83) capable of low-angle drilling has been sent to site to accelerate the program, especially at the poorly tested but prospective Main Hill Prospect. Historic drill results of 109m @ 2.09 g/t Au from 50m (MYD24A) entirely in banded iron formation (BIF) host rocks demonstrate the importance of this prospect. The mineralised banded iron formation (BIF) rocks are the thickest (~100m true thickness) in the area but due to the topographic and access challenges around the hill, the Main Hill target has, until now, been inaccessible for drill rigs.
Holes 25MYDD001-006 are largely testing the mineralised banded iron formation (BIF) on the extreme eastern end of the Main Trend at Gossan Hill.
Rig #83 is drilling the Main Hill Prospect extensively from both the northern and southern sides of the hill (see Photo 2) to truly understand the scale of the resource in this area. There is plenty of evidence that high-grade mineralisation exists at this prospect. Results for these holes (25MYDD023, 028, 031, 032, 033, 034 – see Figure 1 and 2 for location of holes) are awaited.
Further drill results are expected throughout July, August and September and will be released to the ASX once routine quality-assurance, quality-control (QAQC) checks have been completed.
Click here for the full ASX Release
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.
Keep reading...Show less
13h
Drilling Commences at Leonora South Gold Targets
13h
Operations update with mine production up 25% QoQ
15h
Andy Schectman: Reset Happening Now — Gold is Key, Silver Has Massive Potential
Andy Schectman, president of Miles Franklin, lays out his takeaways from the latest BRICS meeting, saying he sees a reset happening now.
He also weighs in on the implications for gold and explains why he sees massive potential in silver.
"The word that I think of is asymmetrical — low downside, high upside," 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.
Keep reading...Show less
15h
Dr. Nomi Prins: Gold, Silver, Uranium and More — I'm Focusing on What's Real
Dr. Nomi Prins of Prinsights Global discusses the real asset uprising and how to invest.
"The uprising actually means that real assets don't have value just for what they are in terms of price — they have value for their positioning in the geopolitical power battle," she explained.
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.
Keep reading...Show less
15h
5 Best-performing Gold Stocks on the TSX in 2025
The gold price soared to new record highs during the second quarter of 2025, the most recent coming when it climbed to C$4,663.85, or US$3,433.47, on June 13.
Several factors fueled gold price momentum toward the end of the second quarter, including an escalation in Middle East tensions as Israel and Iran entered into direct conflict. Although a cease fire was announced, it came after the United States dropped several 30,000 pound bombs on key Iranian nuclear sites.
Additional support for gold has come from continued uncertainty in global financial markets as the US's tariff strategy continues.
Since the beginning of the year, investors have sought the relative safety of gold and gold-backed investment products, which have pushed the price up more than 25 percent.
Against that backdrop, which TSX-listed gold stocks have performed the best? The companies listed below have been the top performers this year. Data was retrieved on July 2, 2025, using TradingView's stock screener. Only companies with market capitalizations greater than C$50 million are included.
1. Belo Sun (TSX:BSX)
Year-to-date gain: 276.47 percent
Market cap: C$144.68 million
Share price: C$0.32
Belo Sun Mining is an exploration and development company focused on advancing its Volta Grande gold project in Brazil.
The property covers approximately 2,400 hectares within the Tres Palmeiras greenstone belt in Pará State, Brazil. The company has been working on the project since 2003, and acquired necessary development permits in 2014 and 2017.
A 2015 mineral reserve estimate demonstrated a proven and probable reserve of 3.79 million ounces of gold from 116 million metric tons of ore with an average gold grade of 1.02 per metric ton (g/t).
Development at the site stalled in 2018 after a federal judge ruled that the Federal Brazilian Institute of the Environment (IBAMA) would be the competent authority for issuing environmental permits. The decision was overturned in 2019, with the Secretariat of Environment and Sustainability of the State of Pará (SEMAS) reassuming its permitting authority. The decision was once again reversed in September 2023, returning authority to IBAMA.
On January 23, Belo Sun announced that the Federal Court of Appeals had reassigned SEMAS as the permitting authority for the Volta Grande project. The company said it was pleased with the decision, as the agency is familiar with the project and enjoys a constructive and transparent relationship with it.
The most recent news came on June 23, when the company announced that shareholders had approved a renewal of the company’s governance structure and elected four new directors to the board. Four of the board's six members are now either Brazilian or have spent significant parts of their careers working in Brazil.
Shares in Belo Sun reached a year-to-date high of C$0.35 on June 16.
2. Euro Sun Mining (TSX:ESM)
Year-to-date gain: 200 percent
Market cap: C$53.71 million
Share price: C$0.135
Euro Sun Mining is a development-stage company advancing its Rovina Valley copper-gold project in Romania. The project’s mining license received full approval for 20 years in 2018, with the option to renew it in five year increments.
An updated feasibility study from March 2022 demonstrated the project's economics, showing a post-tax net present value of US$512 million and an internal rate of return of 20.5 percent, assuming a base case gold price of US$1,675 per ounce and a copper price of US$3.75 per pound.
Proven and probable mineral reserve estimates for the site include 1.84 million ounces of gold and 197,522 metric tons of copper from 123.3 million metric tons of ore with an average grade of 0.47 g/t gold and 0.16 percent copper.
Shares in Euro Sun saw their most significant gains around the same time as a March 25 announcement that the EU included Rovina Valley on its first list of strategic assets. The inclusion, which Euro Sun applied for in May 2024, will enable the company to expedite permitting at Rovina Valley and shorten the development timeline.
On May 7, Euro Sun reported it met with Romania’s Minister of the Environment to discuss the advancement of the project. Both parties agreed that a single point of contact was needed to ensure compliance and fulfill requirements under the CRMA framework. The company plans to submit an updated environmental act in the near future.
On June 20, Euro Sun reported it signed a copper concentrates prepayment facility for up to US$200 million with private metals trader Trafigura, with the funding going towards the necessary permitting and investment to advance Rovina over the next 18 months.
Shares in Euro Sun reached a year-to-date high of C$0.145 on June 2.
3. Collective Mining (TSX:CNL)
Year-to-date gain: 165.05 percent
Market cap: C$1.26 billion
Share price: C$15.85
Collective Mining is a gold, copper and silver exploration company with focused interests in Caldas, Colombia.
Its two projects, Guayabales and San Antonio, consolidate large portions of a mineral belt that surrounds Aris Mining's (TSX:ARIS,NYSE:ARMN)Marmato mine and within a region with 10 operating mines.
The Guayabales project comprises 26 claims spanning a total area of 4,780.98 hectares. Collective Mining has conducted extensive exploration at the property in 2025, with a primary focus on expanding the Apollo zone. The company also drilled multiple look-alike targets.
The most recent exploration report was released on June 30, when the company announced the discovery of a new high-grade vein system, with a highlighted assay of 534 g/t gold over 0.67 meters. However, the company stated that drilling was retargeted after results from a gravimetric survey indicated that the drill hole was outside the mineralized breccia body.
On June 23, Collective accelerated its agreement to acquire a 100 percent stake in the Guayabales property. Under the original agreement, Collective had until 2032 to make the required payments and incur the necessary exploration expenditures.
The company reported that the financial considerations remained the same under the amended agreement, but C$2 million would be paid immediately, with an additional C$2 million paid within one month of the title transfer request being filed and C$2.3 million after two months. The remaining C$3.5 million will now be paid out in six equal installments over a three-year period from the date of the amended agreement.
Shares in Collective Mining reached a year-to-date high of C$15.85 on July 2.
4. Starcore International (TSX:SAM)
Year-to-date gain: 150 percent
Market cap: C$19.06 million
Share price: C$0.325
Starcore International is a gold exploration and mining company with assets in Mexico, Canada and Côte d’Ivoire. Its primary asset is the San Martin mine in Queretaro, Mexico.
In the company’s fourth-quarter production results, released on May 13, it reported reaching a significant commissioning milestone in the new processing circuit and milling 5,000 metric tons of stockpiled ore.
The mine produced 3,242 gold-equivalent ounces during the quarter, up 3 percent from 2,268 ounces during the previous quarter. The company added that it was continuing to explore and develop a new area in the southern section of the mine.
Outside its Mexican operations, the main focus throughout 2025 has been its Kimoukro gold project in Côte d’Ivoire.
On April 9, Starcore reported results from 2024 exploration work at the project and an update on its activities at the project. In 2024, the company completed 55 line kilometers of induced polarization geophysical and ground magnetic surveying, along with a 355 hole, 2,988 meter auger drilling campaign.
Based on the results from the drilling, which aimed to confirm an identified gold anomaly in the topsoil, the anomaly is about 2.5 kilometers long and 500 to 800 meters wide, with an average grade of more than 20 parts per billion gold.
In the update, Starcore reported it established a field office during Q1 2025 and is completing a soil sampling program covering 5.5 square kilometers and 1,300 samples up to a depth of 1 meter.
Shares in Starcore reached a year-to-date high of C$0.325 on June 4.
5. Troilus Gold (TSX:TLG)
Year-to-date gain: 139.9 percent
Market cap: C$272.7 million
Share price: C$0.69
Troilus Gold is advancing its namesake property in Northern Québec, Canada.
The project is situated within the region covered by Plan Nord, a 25 year, C$80 billion development initiative focused on mining launched by the Government of Québec.
A May 2024 feasibility study revealed financials with a post-tax net present value of US$884.5 million, an internal rate of return of 14 percent and a payback period of 5.7 years based on a gold price of US$1,975 per ounce.
The included mineral resource estimate reports a probable mineral reserve of 6.02 million ounces of gold from 380 million metric tons of ore at an average grade of 0.49 g/t gold. It also hosts probable copper and silver reserves of 484 million pounds and 12.15 million ounces respectively.
Troilus has spent much of 2025 raising funds for the project's development. The most significant came on March 13, when the company announced that it executed a mandate letter for a non-binding term sheet for a debt financing package of up to US$700 million.
The company noted that it had followed up on four letters of intent, resulting in a total potential funding of up to US$1.3 billion.
More recently, Troilus announced on June 18 that it had entered into an offtake agreement for gold-copper concentrate with German smelting company Aurubis (OTC Pink:AIAGF,XETRA:NDA).
The agreement is being executed in connection with the previously announced letter of intent for US$700 million in funding. According to Troilus, this includes a loan guarantee of up to US$500 million from a firm representing the German Federal Ministry of Economic Affairs and Climate Action.
Shares in Troilus reached a year-to-date high of C$0.73 on June 17.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
Latest News
Sign up to get your FREE
Sarama Resources Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00