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Specimen Hill Copper | Gold Project
Queensland (0% WEC) – Farm-in
White Energy is undertaking exploration activities under the Farm in Agreement (“FIA”) with Aquis
listed Tectonic Gold Plc (Acquis: TTAU) (Tectonic) and its local subsidiary Signature Gold Pty Ltd
(“Signature”) in respect of the Specimen Hill Project that comprises four tenements in the Biloela area
of central Queensland which are highly prospective for copper and gold.
The location of this project within a major structural corridor makes this a natural fit to further advance
White Energy’s use of deep crustal lithospheric analytics, developed through its exclusive research
agreement with INRS, to identify mineralisation in areas where deep crustal scale structural corridors
provide mineralised fluid migration pathways to surface and subsurface zones.
An initial Ionic sampling survey was undertaken over the tenement areas in September 2023. Follow
up work in December 2023 included additional ionic sampling and rock chip sampling. Field
observations confirmed a large and complex mineral system with a number of outcropping zones of
what appear to be strong copper mineralisation with, in different areas, characteristics consistent with
porphyry, IOCG and skarn styles of mineralisation.
A helicopter magnetic survey was undertaken in April 2024, covering the most highly prospective areas
of the project and the results are currently being analysed. Additional ionic sampling and rock chip
sampling was carried out over a number of priority areas. This work is currently being analysed while
an ongoing geological mapping program has commenced which will be combined with petrological
work to assist in characterisation of the mineralisation in the area. Completion of this work is expected
to identify and confirm drill targets for a drilling campaign during early 2025.
Capitalised exploration expenditure related to Specimen Hill Project exploration activities of $372,000
was incurred for the quarter.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02833146-2A1538044&v=70bc033a22188bdfefb8a0b8ad3c24897ef2837d
Highlights
· Start of diamond sands mining and processing at Deep Blue Minerals.
· Optimistic about the imminent start of heavy mineral sands production at Whale Head Minerals - strong indications received regarding the National Nuclear Regulator permit.
· Board to be strengthened with the proposed appointment of Dr John Wardle as Chairman.
Deep Blue Minerals (diamonds)
Mining of diamond sands is underway, with initial processing at Alexkor's Muisvlak plant. The resulting diamond sands concentrate will be stockpiled and then processed by the Company using a FlowSort, which employs X-Ray technology to identify diamonds. Following this, secure and supervised hand sorting and grading of the diamond output will be conducted before the diamonds are prepared for sale. Ahead of its commissioning, Alexkor required the manufacturer to make several minor adaptations to the FlowSort, which have now been completed. Accordingly, the FlowSort has been signed off by the manufacturer, with Alexkor's approval pending.
Whale Head Minerals (heavy mineral sands)
The Company is awaiting the grant of a permit from the National Nuclear Regulator ("NNR") and can confirm that all required submissions have now been made and approved by NNR. The Company is confident that the permit will be received imminently. Upon receipt, and implementation of any further requests by the NNR, heavy mineral sands production will be able to commence, with custom made, on-site plant and machinery ready for processing.
Additionally, the Company remains engaged with multiple parties in relation to offtake sales of the various heavy mineral constituents.
https://www.londonstockexchange.com/news-article/KZG/operational-corporate-update/16593301
Https://tridentroyalties.com/wp-content/uploads/2024/07/Scheme-Document.pdf
Https://clients3.weblink.com.au/LSE_news/2024/06/26/Great%20Southern%20Copper%20PLC_16142164.pdf
'..Under the terms of the contracts, the purchaser has the right to purchase gold from the underlying mines at the lowest reference price from a list of specified reference prices in a defined period (the "Quotation Period"), which is between 6-8 days, dependent upon the contract, and commencing between 2-5 days prior to the delivery date of the gold. The purchaser then subsequently sells the gold, realising a margin equal to the difference between the purchaser's sale price, and the lowest reference price during the Quotation Period.'
'..The acquired offtake contracts provide 'royalty-like' exposure with returns driven by the gold price, volatility, production profile and exploration success. Over the last 10 years, the weighted average calculated margin of the acquired offtake contracts would be approximately equivalent to an 1.33% NSR2. The illustrative returns and revenues set out in this announcement are based on that rate and a gold price of US$1,800/oz. Over the last 15 years the NSR equivalent would be approximately 1.56%2. Between February 2020 and June 2021, under Orion's ownership, the acquired contracts have delivered an NSR equivalent return of approximately 1.7%.'
https://www.lse.co.uk/rns/TRR/acquisition-35m-placing-40m-debt-facility-1dtbyqaxycni5xj.html
'Any holder who holds their shares through an online broker will be able to vote through their retail broker immediately after the investor meet.'
I'm not sure this will be possible in all cases, online brokers tend to set an earlier deadline. Someone on Telegram said AJ Bell had given them two days to vote. It's poor from RY & Co, though as expected.
‘Firstly, there was no link to the RTO document in the RNS and it was only made available when someone from AMC’s PR department read my post and then out a link on LSE’
Not from AMC’s PR
Agneissearner -
14. Adoption of New Name and Articles
It is proposed that the name of the Company be changed to CRISM Therapeutics Corporation (the “New
Name”), that an application to so change the Company's name shall be filed with the BVI Registrar, that the
number of shares that the Company is authorised to issue be increased from 2,000,000,000 to
16,000,000,000 (the “Initial Share Increase”) and that the New Articles be adopted.
The purpose of the Initial Share Increase is to create additional authorised shares to permit the issuance of
shares and to facilitate, if approved, achieving a position where the ultimate number of authorised shares is
100,000,000 following the Share Consolidation.
“ 16bn after the 1 for 160 share consolidation certainly allows for massive share dilution”
It’s 16bn before consolidation. They expect to have 100m authorised shares.
Https://amurminerals.com/content/wp-content/uploads/Proposed-Reverse-Takeover-Admission-Document.pdf
Https://www.londonstockexchange.com/news-article/KZG/heavy-mineral-sands-project-update/16448778
White Energy's quarterly activities report -
https://hotcopper.com.au/threads/ann-quarterly-activities-report-and-appendix-5b.7977663/
'...During September 2023, ionic sampling surveys were undertaken over the
tenement areas. Follow up work in early December 2023, included additional ionic sampling and rock
chip sampling. Field observations confirmed a large and complex mineral system with a number of
outcropping zones of what appear to be strong copper mineralisation of an IOCG-style.
Helicopter magnetic surveys are scheduled for late April 2024, covering the most highly prospective
areas of the project. Additional ionic sampling will be undertaken to close off a number of anomalous
areas. Completion of this work is expected to identify and confirm drill targets for a drilling campaign
during 2024'
It's four months on the main market, but it's six months on AIM.
https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf
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