Member Info for goneawol

Mr. Brett Boynton, Managing Director – Tectonic Gold Plc

“The team is really encouraged by the recognition for what we have achieved in our research in Australia over the last five years. The Fiddlers Creek endorsement is validation of Tectonics’ courage to pioneer new ideas in exploration and winning the role with Optimus is a Company changing opportunity to take all of that experience into one of the premier gold belts in the world.

Tectonic is still deeply entrenched in research in Australia and is now exporting that expertise to Ghana, with a strong in-country partner who has a genuine desire, and the means, to see a new major gold play created. Ghana, like Australia, has a long and storied gold mining history. Tectonic is bringing expertise directly from the crucible of research and development in Australia, to be a part of the next generation of Ashanti mining stories.

Tectonic is actively reviewing opportunities where we can build a portfolio of holdings in high quality global gold projects.”

Rare earths in heavy mineral sands joint venture

Tectonic holds a 40% economic interest in Whale Head Pty Ltd, a heavy mineral sands mining (“HMS”) project being developed by joint venture partner, AIM quoted Kazera Global Plc (“Kazera”). In July, Kazera announced elevated radioactivity readings in ores beneficiated from alluvial mining of HMS in the Walviskop project in South Africa and as a result the need to engage South Africa’s National Nuclear Regulator. This is worth understanding in more technical detail as the source of the radiation is weakly radioactive thorium, a Rare Earth Element (REE) found in monazite.

The HMS ores at Walviskop include economic concentrations of rutile, zircon, and monazite. Rutile and zircon are widely used with a range of industrial applications. Monazites are less well known, but are rare earth minerals typically comprising thorium, lanthanum and cerium. Lanthanum and its neighbour on the periodic table, cerium, are used in high end lighting applications, think flat screen TVs and iPhones. Thorium is used in heat resistant ceramics and platinum catalytic converters in diesel engines on cars, trucks, ships and trains. The elevated radiation readings in the Kazera testing should be understood as evidence that the ores contain valuable monazites. With China’s recent restrictions on the export of certain REEs, this is a positive outcome for Tectonic.

Ashanti Gold portfolio development lead

Tectonic has been working closely with the principals of Optimus Resources Ltd (“Optimus”) over the last six months reviewing a 1,500km2 tenement portfolio surrounding the lucrative Obuasi and Tarkwa operations within the Ashanti Gold belt in Ghana. Independently verified historic exploration on this portfolio reports immediate resources of over 1 million ounces of gold.

The portfolio has been privately held for over twenty years by a leading Ghanian family office. Their interests span media, insurance, packaging and real estate and the family wishes to now commercialise the gold portfolio, building a vertically integrated gold mining business. Their objective is to have it listed on a major international stock exchange. Tectonic has been engaged to provide technical expertise and a corporate development strategy for the portfolio.

The Company has begun to evaluate, rank and prioritise assets within the portfolio and construct a project development pipeline, commercialisation strategy, identify suitable merger and acquisition opportunities and define a pathway to listing the group on a major exchange.

This program is being fully funded by the owners.

This is an exceptional opportunity for Tectonic to gain access to a tenement package of this scale in one of the most productive geological settings in the world. The Ashanti Gold Belt has been a major source of global gold production for over a century and hosts a number of the largest international mining companies. Tectonics’ key management has experience on the ground in Ghana and companies affiliated with Tectonics’ founding team are already operating in country, servicing these major gold mines. Tectonic is bringing its deep technical research capability, developed with support from the Australian Federal Government and leading Australian exploration and mining research institutions, to contribute to the discovery and development of the next generation of Ghanaian gold mines.

Specimen Hill project farm-out

In August Tectonic finalised terms with Fiddlers Creek Mining Company Pty Ltd (Fiddlers Creek) on an option for Fiddlers Creek to farm-in to a majority position in the Specimen Hill project. Fiddlers Creek is the exploration division of ASX listed White Energy Limited, a corporate vehicle being developed by a highly successful Queensland resources investment group. The terms are as follows:

Stage 1 – an option to acquire 51% at the project level for a cash spend of AU$1 million within 3 years

Stage 2 – an option to acquire a further 25% (76% in total) by spending a further AU$2 million

Stage 3 - Tectonic has the choice of co-funding further development or selling a further 15% to Fiddlers Creek for AU$2 million in cash

The remaining interest may then be converted into a non-diluting 3% royalty.

White Energy has a similar technology approach to Tectonic and has a proprietary ionic geochemistry technique that they will be deploying on Specimen Hill in the second half of August. This advanced testing is highly effective in identifying copper targets at depth and will complement the extensive work Tectonic has already completed on testing the gold in the Specimen Hill system. This will enable a comprehensive understanding of the copper/gold prospectivity of Specimen Hill.

This arrangement brings advanced technology and a successful Queensland based team into the project to complement the work done to date. In addition, it enables Tectonic to retain a significant economic exposure to Specimen Hill without incurring development cost as the project is further de-risked.

R&D update

In July Tectonic received a further $157,000 from the Australian Government under its research and development funding program. Over $3 million has been received from this program to date which has substantially funded the development of exploration technology improving the efficiency of gold resource identification and delineation.

The technology expertise and exploration methodology created through years of rigorous in-field testing at Specimen Hill has generated two significant opportunities.

The data package generated over multiple seasons of field testing at Specimen Hill has attracted a farm-in partner to undertake the continued development of the project. This is discussed in more detail below.

The advanced technical expertise developed over the program attracted the interest of an international gold investor and has resulted in Tectonic being appointed to lead the commercialisation of a large privately held gold portfolio in the world class Ashanti Gold Belt in Ghana. Details of this are provided below.

Expenses in Australia have been significantly reduced and all foreseeable costs will be covered by cash in hand and expected future funding from the Australian Government.

YEAR END CORPORATE UPDATE

Tectonic Gold plc (TDIM: TTAU, is pleased to provide an update on key corporate and operational developments including funding from the Australian Government, partnering with a leading Australian mining group on the ongoing development of the Specimen Hill gold project and an engagement to lead commercialisation of a major gold portfolio in Ghana.

Highlights:

Receipt of R&D funds from Australian Government

Farm-out of Specimen Hill copper/gold project

Commercialisation of privately held gold portfolio in the Ashanti Gold Belt

Rare earths outcome in Heavy Mineral Sands(“HMS”) joint venture

Tectonics’ strategy is to build participation in projects through a transfer of its IP, technology and expertise without having to internally fund project development. Farming out Specimen Hill at the completion of the research program, coupled with an expert advisory engagement to earn an interest in the Ghanaian portfolio is the most efficient way to crystalise value without having to raise additional capital. We are constantly evaluating additional opportunities to build project level interests and over time, a diversified revenue from those interests.

Https://www.investegate.co.uk/announcement/prn/tectonic-gold-plc--ttau/year-end-corporate-update/7681905

..

If a permit is required, the application could take between three and nine months whereupon the Company will immediately commence production and sales of the higher value HMS products.

The Company is using this time to undertake more sampling to confirm previous results and continue construction and area preparation for both the plants in Walviskop Bay. This includes the erection of a Trommel screening plant which is under construction by a third party in South Africa and remains on track for completion by the end of September 2023.

Further, the Company is in the process of creating drying, bagging, and loading facilities within a secure area recently supplied to the Company by Alexkor RMC JV. Alexkor RMC JV recognises the value of the project in terms of opportunities for the local community and the Company's increasingly positive and collaborative relationship with Alexkor RMC JV has also resulted in it being provid ed administration buildings, entrance /exit facilit ies and a sheltered and secure workshop facility for the repair, maintenance and storage of the Company's plant and machinery.

The provision of these secure sites and facilities will benefit both the Company's HMS operation and diamond project and should result in significant cost savings going forward.

From Kazera’s rns this morning..

Whale Head Minerals ("WHM") (60% interest) - Heavy Mineral Sands

The Company continues to make good progress on the Heavy Mineral Sands("HMS") project at Walviskop. The pilot plant, which incorporates an HMS circuit and double decker Horizontal Vibrating Screen, was installed in May 2023 and testing has revealed very promising results which the Company has been continually including in process alternatives, whilst also allowing the Company to determine the exact make-up of its HMS and guide its initial thinking on processing plant design.

Samples and test results from the pilot plant have also formed the basis for informed strategic discussions with industry experts and off-take partners on the short and long term potential of the Company's HMS. From these discussions, initial findings suggest that the Company's HMS has a heavy mineral content of approximately 62%, with around 55% of the resources classified as "saleable heavy minerals". Indicative pricing for the basic (unseparated) product is $160 per ton, but by undertaking further separation the price is expected to be approximately double this whilst, importantly, transport costs would remain at the same.

During the Company's testing, several samples were identified to have raised levels of radioactivity resulting from the presence of minerals such as rutile, zircon, and monazite, which typically have a much higher commercial value than ilmenite. Whilst radioactivity in HMS is not an uncommon occurrence, it does mean that the Company has engaged with the National Nuclear Regulator ("NRR") to determine whether any specific permitting is required prior to the production and sale of the Company's HMS products.

To guide this discussion and any possible application for exemption / additional permitting, a comprehensive baseline study of radioactivity has been conducted across all areas of Walviskop, including areas where the Company's HMS will be stored, processed, and transported. In addition, a Workers Safety Report and Operating Procedures are being compiled by a third party and should be completed by mid-August 2023 at the latest.

No, the next RNS will be probably be suspension on 6 September...

Completion of an RTO can be a time consuming event requiring negotiations, the successful completion of all party due diligence and the subsequent shareholder approval. In anticipation of our successful sale of AO Kun-Manie, an RTO Identification Plan was crafted by the Board in Q1 2022 to enable us to get a head start on the process. Throughout 2022 and early 2023, various evaluations and preliminary assessments of numerous international private and public companies has already been undertaken.

To date, we have examined numerous mineral resource RTO opportunities. Geographically these have been located in Canada, the US, Scandinavia, Spain, Brazil, Peru, Chile, Ghana, Kenya and Australia. Commodities have included potash, silica, alumina, copper, nickel, gold, silver, metallurgical coking coal, energy fuels substitutes and lithium. A total of 13 opportunities from within 10 organisations have been considered.

During the course of our investigation, we have also been contacted by two non-mineral resource companies. Discussions with these more financially advanced entities indicate there is potential for us to move into the Artificial Intelligence / Entertainment or Financial Services or other sectors. These warrant further investigation and we have therefore expanded our RTO investigation of opportunities beyond mineral resource sector.

We shall continue to explore viable options for an RTO and will make further announcement in due course. On behalf of the Board of Directors, I would like to thank the Group's staff and advisers for bringing the sale of AO Kun-Manie to completion, especially through such turbulent times and I look forward to the future of Amur Minerals.

Https://www.londonstockexchange.com/news-article/AMC/audited-final-results/16022913

Annual accounts due today.

Https://youtu.be/hh2ZdgEBCHo

That's my understanding too. I think it's more likely that we will suspended in September if no asset is found.

I’m not sure they automatically become an investment company 6 months after disposal. I think they may need to publish an admission document. Happy to be proved wrong.

https://docs.londonstockexchange.com/sites/default/files/documents/AIM%20Rules%20for%20Companies%20%2801012021%29_1.pdf

The proposed offer is based on $5m cash. If Amur have burnt more cash than expected the offer will be reduced.

Despite multiple conversations with the Board of Amur and multiple follow up correspondence, the Company has as yet been unable to elicit a written response to their offer.

:-)

Https://twitter.com/KazeraGlobalInv/status/1661687500350291968?t=ppVT4xn30O7xudaQBPOhaA&s=19

Https://www.newcrest.com/sites/default/files/2023-05/230515_Newcrest%20enters%20into%20binding%20scheme%20implementation%20deed%20with%20Newmont%20-%20Market%20Release.pdf