The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Drilling commences at 100% owned Ernest Giles Project
Co-funded diamond core drilling to test the high priority Meadows gold prospect
Greatland Gold plc (AIM:GGP) (Greatland or the Company) is pleased to advise that drilling has commenced at the Meadows gold prospect within the Ernest Giles Project (Ernest Giles).
Highlights
§ Ernest Giles is an underexplored Archean greenstone belt which lies within the highly mineralised Yilgarn Craton of Western Australia
§ A drill rig is on site and has commenced diamond core drilling at the highly prospective Meadows gold prospect
§ Heritage surveys and mobilisation was completed safely and quickly following entry into the Ernest Giles Land Access Agreement (LAA) in September 2023
§ First two diamond holes will test interpreted mineralised zones and are co-funded by the Government of Western Australia's Exploration Incentive Scheme (EIS) drilling grant for up to A$220,000 (£115,000)
§ Current drilling builds on previous work at Ernest Giles and will provide important geological and structural information to inform a systematic reverse circulation drill program in 2024
Greatland Managing Director, Shaun Day, commented:
"We are very pleased to be drilling the high priority Meadows gold prospect at Ernest Giles following conclusion of the Land Access Agreement."
"Ernest Giles sits within an underexplored greenstone belt located north of the world-class Tropicana and Gruyere gold operations. As a 100% owned project, Ernest Giles represents an excellent exploration opportunity for Greatland and our shareholders."
ASX announcement
88 Energy Limited
PROJECT PHOENIX – BFF CONTINGENT RESOURCE ESTIMATE
Highlights
• Following Pantheon Resources Plc declaring a significant contingent resource for the Lower BFF, 88 Energy has appointed independent consultants NSAI to assess the BFF reservoir at Project Phoenix.
• The Company anticipates that NSAI will be able to complete the maiden contingent resource estimate in November 2023 for the BFF which may lead to Hickory-1 being confirmed as a discovery.
• Certification of a contingent resource for the BFF reservoir would be a significant milestone for the Company, allowing the focus of Hickory-1 testing to shift to the shallower reservoirs.
88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce that it has recently engaged the independent resource certifier, Netherland, Sewell & Associates, Inc (NSAI) following Pantheon Resources Plc declaring a significant contingent resource for the Lower Basin Floor Fan.
The Basin Floor Fan (BFF) reservoir was the deepest of the multiple hydrocarbon-bearing pay zones intersected during the drilling and logging of the Hickory-1 exploration well. NSAI will assess the BFF reservoir at Project Phoenix for a maiden contingent resource estimate based on Hickory-1 results and nearby offset well results, which may lead to the Hickory-1 being confirmed as a discovery.
Figure 1 shows the globally recognised resource classification framework published by the Society of Petroleum Engineers and known as the Petroleum Resources Management System (PRMS 2018). The maturation of a project from exploration to development and finally production requires the project to also upgrade its resource classification from Prospective Resources to Contingent Resources and finally to Reserves. It is the Company’s strong intention to make this progression for as many reservoirs as possible, with the first milestone expected to be achieved imminently for the BFF, followed by flow testing of multiple reservoirs at the Hickory-1 location. If successful, this data will then be integrated into a subsequent Resource Assessment later in 2024 with the intention of obtaining the Contingent Resource classification for all tested reservoirs.
To assist in this matter NSAI has commenced reviewing and integrating existing data of all reservoirs, specifically:
• Existing Prospective Resource Assessment carried out independently by Lee Keeling and Associates in 2022, prior to drilling of Hickory-1;
• Hickory-1 drilling and logging results;
• Any relevant data beyond 88 Energy’s acreage, such as results from wells in the adjacent
acreage that could be considered analogous to Project Phoenix; • 88 Energy and publicly available seismic data
“
Feasibility Study works will continue, incorporating the further hydrological drilling, data collection, and enhanced understanding of the LCA and water management requirements. Various other value enhancing workstreams continue to be progressed as part of the Feasibility Study which Greatland now expects to be completed by the September 2024 quarter given Newcrest's continued preference for the study to incorporate the understandings from development through the LCA.”
Completed by the September QUARTER - ie July to September
Greatland Managing Director, Shaun Day, commented: "Havieron is an outstanding orebody which has been developed on an expedited basis in parallel with finalisation of the Feasibility Study. Through this approach production can be brought forward to enhance the value of the asset. At the same time it is essential that we continue to set the project up for long-term success by optimising and de-risking the current development phase, while maintaining an accelerated pathway to production."
SD says this will “bring production forward👍
"We view Newmont's imminent involvement as our Havieron Joint Venture partner as a tremendous positive and look forward to working together to deliver the full potential of Havieron for all stakeholders."
chairmans report
dear shareholders,
i am pleased to present the chairman's statement for alien metals ltd (the 'company' or 'alien metals') for the year ended 31 december 2022. this year has been a pivotal one for the company, marked by significant progress in our exploration and development projects, and strategic acquisitions that have strengthened our portfolio.
operational highlights
during the year, we made significant progress in our exploration and development projects in australia. our flagship project, the han**** iron ore project in western australia, has continued to demonstrate strong potential for high-grade direct ship iron ore, and we remain well-positioned to capitalise on the growing demand for iron ore in china.
acquisitions
we have been active in pursuing strategic acquisitions that complement our existing portfolio and strengthen our long-term growth prospects.
in march 2022 the company completed the acquisition of a 100% interest in the munni munni platinum group metals and gold project in the west pilbara, western australia containing palladium and platinum group elements ('pge') plus significant quantities of other strategic metals including rhodium, nickel and copper.
in june 2022, we completed the acquisition of the elizabeth hill silver project in western australia, which has a historical production record of over 2.7 million ounces of silver and the vivash gorge iron ore project. these acquisitions expand our footprint in western australia and provides us with new high-grade silver and base metal projects.
in december 2022, we completed the acquisition of the potential high-grade iron ore project, brockman west, in western australia. this project is located in the heart of the pilbara region, one of the world's premier iron ore producing regions, and has the potential to deliver significant value for our shareholders.
project updates
han**** iron ore project: alien metals continued to progress its han**** iron ore project in western australia, which covers a large area prospective for iron ore. the company conducted exploration activities, including drilling, detailed mapping, sampling, and geophysical surveys. initial findings have led to a maiden mineral reserve and mining inventory along with improving the overall resource potential of continued high-grade iron ore ridges. the company plans further drilling to identify additional resources throughout the licence area. the company is continuing work on multiple fronts towards putting the han**** project into production and to this end there is a key native title meeting scheduled in july following which the company will have a clearer idea on the timing for production commencing. furthermore, work continues to define an updated mre on the sirius extension and this is now expected to be published in q3 this year.
elizabeth hill silver project: alien metals continued its exploration efforts at the elizabeth hill silver p
88 Energy Limited Hickory-1 Surface Hole Completed
• Hickory-1 surface hole successfully drilled to 3,570 feet, cased and BOP system tested successfully.
• Operations progressing with Nordic Calista’s Rig-2 now preparing to drill ahead.
88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to report that the Hickory-1 surface hole was successfully drilled to 3,570 feet, the surface casing installed and cemented and the Blow Out Preventer (BOP) system tested successfully.
Nordic Calista’s Rig-2 is now preparing to drill ahead, with the Hickory-1 exploration well expected to intersect the three primary SMD targets, before drilling ahead into the secondary SFS and BFF reservoirs targets. The KUP reservoir is a tertiary target and will be drilled subject to remaining time in the season, borehole conditions and other technical considerations.
The Company anticipates the primary and secondary target zones to be intersected within the next two weeks, before determining whether to drill ahead to the tertiary target and reaching permitted Total Depth (TD) of approximately 12,500 feet.
Logging while drilling and mudlogging are set to provide initial indications as to the prospectivity of the target zones at the Hickory-1 location. A sophisticated, targeted wireline logging program is planned to be run after reaching TD, which includes side wall cores (both pressurised and non-pressurised), triple combo, dielectric scanner and Nuclear Magnetic Resonance.
The wireline logging program is expected to take approximately five to seven days to complete. It is designed to gather extensive data which will be used to optimise the planned Hickory-1 flow test program scheduled for the 2023/24 winter season (subject to well results).
The Company will provide further updates subsequent to Hickory-1 achieving TD.
Figure 1: Nordic Calista Rig-2 at the Hickory-1 drilling location, adjacent to the Dalton Highway, North Slope Alaska.
www.88energy.com
ABN 80 072 964 179
Ground Floor, 516 Hay Street, Subiaco WA 6008
PO Box 352, Subiaco WA 6904 Australia
Phone +61 8 9485 0990
Figure 2: Hickory-1 well designed to test up to 6 stacked targets.
This announcement has been authorised by the Board.
BlackRock has taken a $92 million hit on the collapse of W Resources, a mining company listed on Aim.
The investment company has crystallised the loss after W Resources fell into administration in January following increases in the price of liquefied natural gas (LNG). W Resources first secured funding from BlackRock in 2018 to finance its La Parrilla tungsten and tin mine in southwest Spain.
The mining company faced headwinds from 2020 onwards when its production was affected by plant closures. Government officials told the company that it did not have the right licences to keep operating. The La Parilla mine, about 115 miles north of Seville, was then knocked by a substantial increase in the price of LNG from 2021. A report from W Resources’ administrators said its gas prices jumped by up to seven times.
W Resources, which listed on Aim in 2011, suspended its shares on April 5 last year.
BlackRock called up its debt by issuing a notice of events of default to the company through its security agent GLAS Trust Corporation. It took steps to put the company into administration and engaged FRP Advisory to handle the process.
The advisers were unable to trade the business through the administration and could not secure its sale as a going concern. FRP Advisory concluded it was unlikely that any dividend would be paid to BlackRock from the realisation of W Resource’s assets.
https://twitter.com/StreetSignsCNBC/status/1633338188679766022?s=20
In the interview she says there’s Molybdenum at Havieron ? Anyone heard that before?
Looks like we are done and dusted - reply to an email I sent to Administrator - sad for all LTH
W RESOURCES PLC (IN ADMINISTRATION) (“THE COMPANY”)
I refer to your email below and note the contents therein.
The report and proposals for the administration will be sent out within eight weeks of my appointment. This will include a full explanation of the circumstances leading to the present situation together with a summary of the prospects for recovery. In this case, it is not expected that there will be any recovery for shareholders
Yours Sincerely
John Woodhouse
For Chad Griffin
Joint Administrator
Managing Director & CEO Sandeep Biswas retires: Newcrest announces leadership changes
Newcrest’s Chief Financial Officer (CFO) Sherry Duhe will assume the role of Interim CEO, effective today.
Newcrest Mining Limited (ASX, TSX, PNGX: NCM) today announced that Managing Director and Chief
Executive Officer (CEO) Sandeep Biswas is retiring.
Sherry joined Newcrest in February 2022, bringing with her nearly three decades of experience across global
energy and resource companies. She is a seasoned executive leader, having served as Chief Financial Officer
at two ASX-listed companies.
Newcrest Chairman Peter Tomsett thanked Sandeep for his dedication and contribution since 2014, and for
advising the Board of his intention to retire.
“Our company has strong financial fundamentals, a relentless focus on safety and an unrivalled international
portfolio of long-life, low-cost gold and copper assets, all of which have been transformed during Sandeep’s
tenure,” said Mr Tomsett.
“Today, we are Australia’s largest gold company, the biggest gold producer in British Columbia, and have a
substantial presence in Papua New Guinea. We also have a meaningful and increasing exposure to copper –
a resource vital to global decarbonisation efforts.
“As we look towards the future, it is an opportune time for fresh leadership to accelerate the evolution of our
company and ensure we are best placed to make the most of the opportunities in front of us.”
Commenting on Sherry’s appointment, Mr Tomsett said, “Sherry’s business acumen, strategic insights, track
record of creating value and her focus on ensuring Newcrest is a great place to work means she is well placed
to serve as Interim CEO.
“Exciting times lie ahead for Newcrest as we continue to grow profitability, lead the way in innovation and
sustainability, and deliver a safe workplace where everyone can thrive and excel.”
Sandeep will remain available in an advisory capacity during the CEO transition period, ahead of his retirement
on 18 March 2023. His retirement as Managing Director takes effect as of 18 December 2022. A global internal
and external search for a new CEO is underway, supported by executive search firm Russell Reynolds, with an
appointment expected to be made next year. In line with the company’s executive succession planning, this
process has been ongoing for some months and included conversations with Sandeep.
“Much has been achieved over the past nine years, which has only been possible because of the efforts of the
very capable people who work at Newcrest and the strong partnerships built with the communities where we
operate. I wish them all the best for the future,” said Mr Biswas.
“It has been an honour to lead this company and ensure safety and innovation have become ingrained into the
very core of how we go about our business every day.”
Directorate Change
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, notes that Mark Potter has notified the Board that he will step down as Chief Investment Officer and as an Executive Director of the Company in March 2023 to focus on other professional commitments.
Charles Hall, Non-Executive Chairman, commented:
"On behalf of the Board, I would like to thank Mark for his significant contribution to Metal Tiger. Mark has been a valuable member of the Board and Executive team and we all wish him the very best for the future."
Greatland Gold plc (AIM:GGP), the mining development and exploration company with a focus on precious and base metals, is pleased to provide an exploration and development update at the Havieron gold-copper project in the Paterson region of Western Australia.
Exploration Activities
§ Growth drilling continues to confirm and expand the extensions to known mineralisation in the Eastern Breccia and the Northern Breccia
§ Exploration drilling continues to test regional geophysical targets outside of the main Havieron system on the Havieron mining lease
§ Six drill rigs presently on site ahead of scheduled wind down over the summer wet season
Accelerated decline development
§ The exploration decline reached a significant milestone during the month of November 2022 with 1,000 metres of decline development achieved
§ Development advance rates have continually improved providing additional confidence around the forecasted schedule
Feasibility Study Update
§ Technical work to support the development of the Feasibility Study continued during the quarter. As announced previously, the study remains in progress and will be extended beyond the December 2022 quarter to allow further time to enhance value. This will include the impact of significant additional drilling information and the assessment of optimisation studies.
Significant New Growth Drilling Results (intercepts are reported as downhole width not true width)
Eastern Breccia
§ HAD098W7
§ 26m @ 2.2 g/t Au & 0.17 % Cu from 1,584m
§ HAD134
§ 82m @ 2.1 g/t Au & 0.25 % Cu from 1,508m
§ including 30m @ 2.4 g/t Au & 0.19 % Cu from 1,540m
§ HAD163
§ 86m @ 1.2 g/t Au & 0.04 % Cu from 1,415m
§ HAD167
§ 78m @ 1.9 g/t Au & 0.19 % Cu from 1,516m
§ HAD152W5
§ 27m @ 1.4 g/t Au & 0.06 % Cu from 2,042m
Northern Breccia
§ HAD098W7
§ 84m @ 3.2 g/t Au & 0.14 % Cu from 1,008m
§ 78m @ 1.2 g/t Au & 0.28 % Cu from 1,242m
§ including 32m @ 2.4 g/t Au & 0.40 % Cu from 1,260m
Shaun Day, Managing Director of Greatland Gold plc, commented: "Havieron achieved a significant milestone with the exploration decline development extending beyond the 1,000 metre mark. The accelerated rate of advancement reflects the improved ground conditions.
"The growth drilling programme at Havieron continues to confirm and expand the high-grade extensions to the known mineralisation in the Eastern Breccia and Northern Breccia zones.
"The last twelve months of impressive growth drilling results supports the expectation for Havieron to deliver an expanded mineral resource estimate."
In addition to this release, a PDF version of this report with supplementary information can be found at the Company's website: https://greatlandgold.com/investors/regulatory-news
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Directorate Change
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, notes that Neville Bergin has notified the Board that he will step down as a Non-Executive Director of the Company at the end of January 2023 to focus on other professional commitments.
Charles Hall, Non-Executive Chairman, commented:
“On behalf of the Board, I would like to thank Neville Bergin for his significant contribution to Metal Tiger. Neville has been a valuable member of the Board and Committees and we all wish him the very best for the future.”
For further information on the Company, visit www.metaltigerplc.com
Watchstone Group PLC
Settlement with KPMG LLP
RNS Number : 3297G
Watchstone Group PLC
14 November 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014 ("MAR")
Watchstone Group plc
("Watchstone" or the "Company")
Settlement with KPMG LLP
Further to its announcement on 30 November 2021, Watchstone Group plc (LON:WTG) announces that it has agreed terms for the settlement of its claim against KPMG LLP (Claim number CL-2021-000673) ("KPMG") (the "Settlement").
Under the Settlement, which is made without admission of liability by KPMG, KPMG will pay Watchstone a sum of £4.95m in full and final settlement of the claim.
10 November 2022
Metal Tiger plc
(“Metal Tiger” or the “Company”)
Sandfire Update
Metal Tiger plc (AIM: MTR, ASX: MTR), the AIM and ASX listed investor in natural resources opportunities, is pleased to note that Sandfire Resources Limited (“Sandfire”) has announced the appointment of highly experienced mining executive Mr Brendan Harris as the company’s Managing Director and Chief Executive Officer.
Metal Tiger is interested in 7,006,953 Sandfire Shares representing approximately 1.71% of Sandfire’s issued share capital. As previously announced, 2,842,667 of the Sandfire Shares held by the Company are subject to an equity derivative financing arrangement with a global investment bank.
A link to Sandfire’s announcement, released today, is set out below:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02596271-6A1121449?access_token=83ff96335c2d45a094df02a206a39ff4
For further information on the Company, visit www.metaltigerplc.com
Interesting post on the Antipa Minerals Hot Copper thread;)
No answers, but just questions and ramblings, (some details might not be spot on)
Greatland Gold GGP
As we all know appointed these three, high profile, extremely credential, top executives to the board.
1) Mark Barnaba, eminent natural resources investment banker and Deputy Chair of A$50 billion ASX-listed Fortescue Metals
2) Elizabeth Gaines, former Fortescue CEO and Managing Director,
3) James 'Jimmy' Wilson, a former senior executive at BHP including the former President of its iron ore division,
These three are not at their end of their career lifestyle directors.
My point in case is this. Look at their massive option packages for signing on.
1) Mark = 100,000,000
2) Elizabeth = 55,000,000
3) James = 40,000,000
Now these options only come into the money if the share price rises by 45% above the recent placement price of 8.2 pence = 11.9 pence
For them to want to even contemplate on exercising them, the share price would have to be a minimum of 25% above the exercise price of 11.9 pence = 14.87 pence
Remember they would be whacking in a staggering sum of 23m pounds of their own money = $40m AUD
So if all that was all going to happen the Market cap of GGP would have to go up by about 80% from say by 500m pounds to 900m pounds.
= increase of 400m pounds or about $680m AUD
ALL before 31.08.26
And remember that Wyloo (Andrew "Twiggy" Forrest) now owns 8.6% and can go to 14.6%...he has whacked in $60m AUD and can whack in another $60m AUD.
Now Wyloo has not taken that stake in GGP that owns a non controlling 30% stake in a great asset to be passive, that's not his style.
Mark, Elizabeth, James are at the top of their careers, this is their prime time, with a massive incentives package to make their mark on the world.
You got to ask yourselves, where or how is this wealth creation for GGP going to come from.
It can't really come from Havieron, because really we know most things about that, and we already expect further expansion of the resource base, you don't need those directors or Wyloo for that, especially since NCM are running the show.
So it can only come from, merger and acquisition combined with their experience and financial might, still its a lot of value to create somewhere in the vicinity of $500m - $700m AUD before august 2026.
I'm certainly not implying a take over of AZY, but certainly on the agender is a tie up somehow, they will be wanting to own, control, or have an interest in a majority of the Paterson Province belt some how.
My starting assumption is it that it will be a % interest in Minyari Dome in the first instance to get the ball rolling.
These 3 directors and Wyloo have not made the jump into Greatland Gold to sit around the board room sipping coffee and deciding what their next move is.
They already know their next move and we shall find out in time what that is.
This move by those players