Cottesloe Project Highlights:
· Rock chip geochemical sampling results reported up to 298g/t Ag
· Multiple significant drilling results including:
o SCR225: 5m at 102g/t Ag from 14m
§ Including: 2m at 165g/t Ag
o SCR247: 2m at 73g/t Ag & 4.6% Pb from 8m
o EWP-2: 22m at 42.7g/t Ag from 8m
§ Including 8m at 72.13g/t Ag from 22m
o EWP-3: 18m at 29.3g/t Ag from 6m
o EWP-7: 20m at 35.9g/t Ag from 2m
§ Including 2m at 100g/t Ag from 8m & 4m at 69g/t Ag from 16m
o EWP-11: 4m at 41.25g/t Ag from 14m & 10m at 41.6 g/t Ag from 24m
o EWP-12: 8m at 58.37g/t Ag from 20m
o EWP-24: 8m at 54.87g/t Ag from 40m
· Mineralisation trends interpreted to be over a 12km strike
Wishbone Gold Plc, the London listed precious metals trading and exploration company, advises that it has signed an exclusive deal to acquire 100% ownership of the 92.19 square kilometres Cottesloe Project in the Patersons Range region of Western Australia (the "Cottesloe Project"). This proposed acquisition will more than double Wishbone's exposure in the well-endowed gold province of the Patersons, increasing Wishbone's tenement holding to 159 km2 from 67 km2.
We hit 14.5 last week in anticipation for Red setter drilling campaign - everyday is a day closer and currently it's the longest time it's in between updates, can't be far.
+ Cottesloe Aerial survey - currently with excellent silver and copper grades across a 12km strike length - will further strengthen talks of possible JV with our boardering major's - sub 20mil Mcap
Drilling has outlined an ovoid shaped zone of variable brecciation, alteration and sulphide mineralisation with dimensions of approximately 650m x 350m trending in a north west orientation below 420m of Permian cover. Mineralisation has been intersected in drilling at depths greater than 1000m below the unconformity. Breccia mineralisation was initially identified internal to the Crescent Zone but most recently broad zones of mineralisation have been recognised external to the Crescent Zone to the east, northwest and southeast.
Vs wsbn 1400 x 400 x ? For target A
In addition, Chariot has received a non-binding EOI for the provision of Reserves Base Lending for the development of the Anchois Gas Discovery with a Multinational Investment Bank.
Both EOI's take into account the estimated capex required to bring the development online, anticipated to be in the region of US$300-500 million, but they also identify Lixus as being an important strategic asset, with strong Environmental, Social and Governance ("ESG") credentials, that has the potential to help Morocco transition to a low carbon economy, as it seeks to satisfy an anticipated doubling in domestic demand for energy over the next 20 years.
Mrs Amina Benkhadra, General Director Office National des Hydrocarbures et des Mines, commented:
"We are pleased to have signed this MOU with the Ministry of Industry and Chariot in line with ONHYM's Mission and Strategy where we look to attract investment from the private sector to accelerate the development of resources in Morocco. We look forward to working further with our partner Chariot and assisting them with the advancement of the Lixus Offshore Licence."
Adonis Pouroulis, Acting CEO, commented:
"I am delighted to announce this MOU with the Ministry of Industry in Morocco. The Kingdom of Morocco is firmly focused on decarbonising its economy and diversifying its power sources and the development of the Anchois gas project will enable them to achieve this. Anchois has very strong ESG credentials and, once developed, it also has the potential to deliver considerable value for all stakeholders for decades to come.
The signing of this MOU is a significant step in our efforts to access the Moroccan gas markets. With the Kingdom of Morocco's support we intend to build on the positive conversations we are already having with entities involved in the Moroccan gas market, giving us greater confidence that we will sign the necessary agreements to expedite the development of this value accretive gas project, for the benefit of the Kingdom and Chariot's investors."
Load and hold
Julian letting us know lixus has been substantially derisked with both the MOU With the morrocan government and LOIs for 300-500mil funding - that in his words they couldn't be in a better location with multiple pieces of newsflow to arrive shortly, and looking to provide and 10x event for shareholders - lixus worth 9bn+ funding 10x+ the current Mcap
The actual EL issuance should trigger HEAVY Instititional buying as criteria for investing will have been met and as the move into asset monetization occurs. That sort of inward, committed investment will have a massive upward impact on the share price to realize the 50p plus projections.
As announced on 25th February 2021, Conroy Gold has engaged with Demir Export on a proposed JV covering the Company’s gold projects in the Longford-Down Massif. Demir Export belongs to the Koç Family who also own the largest industrial conglomerate in Turkey, a Fortune Global 500 company and Turkey’s leading investment holding company.
The letter of intent signed in respect of the JV proposal would also provide the considerable injection of working capital needed for the development of commercial mining operations at Clontibret and elsewhere along our district scale gold trend. The proposed JV with Demir Export, if completed, would mean a further €1 million payment being made to the Company together with an initial €9 million of expenditure (excluding operator fees, Demir Export in-house costs and minimum regulatory work commitments) over two phases which would earn Demir Export a 40% interest in the Company’s Longford Down Massif projects as a whole.
The third phase which will see expenditure by Demir Export of the additional funds required to reach declaration of construction-ready status (i.e. a bankable feasibility study or equivalent and all related mining permits achieved) - for Clontibret and/or other mine developments will earn an additional 17.5% interest in the development(s) thus increasing Demir Export’s holding to a total of 57.5% in those development(s). At this point Conroy Gold would retain a 42.5% interest with various further options including a “Carry Loan” on capital expenditure to commercial production enabling Conroy Gold to retain an externally funded 25% project interest with minimal further cash outlay. This ongoing ownership aspect was a particularly key element of the JV for the Company.
In the Longford-Down Massif, the Company has already delineated an existing JORC compliant gold resource of 517,000 ounces and a series of targets across the 65km long district scale gold trend.
The existing resource has been generated from drilling covering a small fraction of the Clontibret gold target, with the majority of drilling to a depth of less than 200m and a maximum depth of 350m. The Clontibret deposit is geologically comparable to the Fosterville deposit in Victoria, Australia.
Engaging with Demir Export, a proposed JV partner with considerable financial and operational strength, is exactly what is needed to accelerate our exploration and mine development activities.
As we move forward to conclude the formal JV agreement, the Company is pleased to secure this significant financing which changes the Company’s treasury and balance sheet and supports the various business development activities that are ongoing. We are seeking an efficient conclusion of the formal JV agreement, advancement of gold exploration in Ireland and the drilling of key targets at the Company’s Finland gold interests.
Placing at 33p - the market has currently priced Conroy to fail - although the JV can be concluded at anytime and we'
Our aim now is to advance the Project to production. Accordingly, key work streams have been planned for 2021 to position Zinnwald Lithium to make the transition from developer to producer. These include engaging with potential off-take partners; advancing discussions with potential financing partners; performing the necessary testwork to assess the commercial viability of producing a broader range of lithium compounds; undertaking front-end engineering design work; finalising the selection of the optimal chemical processing site location and completing the final steps in the permitting process for the construction and operation of the mine. We have already made steps towards achieving several of these targets.
Would like a update on cottesloe also. Hopefully an Aerial survey will be taking place on cottesloe ( acquired at ( 14-16p ) while red setter drilling campaign gets underway
Market completely unaware of the potiencial here and what the JV means for the future of CGNR - it deriskes the 8.8+ mil Ozs/ 500k JORC resource with gold all around for 65kms potentially all the way to production
Both the JV conclusion and Finland drilling program could be announced at anytime - 33p placing price with warrants at 50 & 100p
What massive uninformed deramp. Assets acquired at 14-16p - tier 1 sized magnetic body red setter fully funded to start drilling soon with the nearest mines hold gold and copper + cottesloe and other assets. WSBN is already a screaming buy, the 18p yearly high wasn't for no reason and now we now in the strongest position while juniors are in a bear markets as billions flow to cryptos.
WSBN will see it's yearly highs and beyond once drilling starts at red setter and we find out what's happening with cottesloe - success at red setter will see WSBN many multiples from the current 17mil Mcap - similar geology and size to GGPs Havieron. Dyor, load and hold for the news rich period that's overdue.
I also recommend look at the time in between previous updates - news on multiple fronts could land at anytime while your waiting for your cheaper entry
It's been nearly 7 weeks since Red setter aerial results - 18th feb
And 6 since we aquired cottesloe at 14-16p - 3rd of march
Also long over due second white mountains results - 30th of November
+ Queensland wishbone 2 tenement - December 1st
Definitely getting silly, 40% of the yearly high, fully, a second large asset in the patterson ranges, and a drilling campaign anoucment due.
2 company making assets in the patterson ranges
White Mountains asset
+ wishbone 2, 3 and 4
Load and hold and these bargain prices before news
The Company’s gold exploration programme in Finland is an extension of the Company’s highly successful gold exploration programme in Ireland which has led to the discovery of a new district scale gold trend on which the Company is currently FINALISING a joint venture agreement with the Koç family owned Demir Export A.S..
9mil Mcap - 8.8mil Oz+ 500k JORC resource with proven gold all around them from past operations - Conroy is significantly derisked at this point and the fortune 500 JV could be finalized imminently
I see Conroy having a 90mil+ Mcap once the JV is concluded - funds recieved and exercise or currently warrants will give Conroy nearly double the current Mcap In cash to expand the current JORC resource into the 8.8mil ozs around them
Placing and subscription of 5,670,449 ordinary shares of €0.001 each (“Ordinary Shares”) at a price of 33 pence per Ordinary Share to raise £1,871,249 before expenses (the “Financing Shares”). In conjunction with the Fundraising certain parties, including Professor Richard Conroy (Chairman of the Company), have also capitalised amounts owed to them totalling £378,751 through the issue of 1,147,726 new Ordinary Shares at the Issue Price (the “Debt Capitalisation Shares”). The Financing significantly strengthens the Company’s balance sheet and working capital position. The funds raised will be used by the Company to support activities in relation to the proposed joint venture (“JV”) with Demir Export A.S. (“Demir Export”), announced on 25 February 2021, to meet the commitments and associated costs on the Company’s various licences in Ireland and Finland, for exploration drilling on the copper/gold licences in Finland and for general working capital. Each Financing Share and Debt Capitalisation Share carries a warrant to subscribe for one new Ordinary Share at a price of 50 pence per Ordinary Share exercisable for a period of two years from the admission to trading on AIM of the Financing Shares and the Debt Capitalisation Shares (“Admission”), creating 6,818,175 Financing Warrants. Any warrant holder who exercises Financing Warrants on or before 31 December 2021 will also be issued with, for every Financing Warrant exercised, an additional warrant to subscribe for one Ordinary Share at a price of 100 pence (£1.00) per Ordinary Share, again with a life to expiry ending two years from Admission. If all Financing Warrants are exercised before 31 December 2021, 6,818,175 Super Warrants would be created. Should all the above Financing Warrants be exercised on or before 31 December 2021 and subsequently all Super Warrants be exercised, this would generate an additional c.£10.2 million of funding for the Company over and above the £2.25 million secured through this Financing.
9mil mcap - the JV will fund 9 mil + and the warrants a futher 10mil
Once the JV is concluded - drilling will easily expand the current 500k JORC resource in the surrounding 8.8 mil Oz and up to 15-20 mil ozs. The future of Conroy looks 10x+ larger than the current sub 10mil Mcap
Conroy could be the largest gold mine in all of the UK or Ireland - the JV would fund up to construction ready status and then to fully funding the mine to production - its a fantastic deal for demir export and could be concluded anyday now
3D inversion of the Red Setter ultra-detailed magnetics has delineated 3 highly magnetic bodies over an expanded area now covering 3km x 1km.
· Largest individual priority 1 magnetic target has a 1500m strike length with a width of 400m and starts at around 75m from surface.
· Magnetic survey reveals that all magnetic targets are much shallower than 150m-250m depth previously modelled.
· The relatively shallower target depth is strongly advantageous both from an exploration and future development potential perspective.
· The Red Setter Project is located 13km south-west of Newcrest Mining's Telfer Gold-Copper Mine and 60km west of Newcrest and Greatland Gold's Havieron discovery.
Rock chip geochemical sampling results reported up to 298g/t Ag
Mineralisation trends interpreted to be over a 12km strike
Wishbone Gold Plc, the London listed precious metals trading and exploration company, advises that it has signed an exclusive deal to acquire 100% ownership of the 92.19 square kilometres Cottesloe Project in the Patersons Range region of Western Australia (the "Cottesloe Project"). This proposed acquisition will more than double Wishbone's exposure in the well-endowed gold province of the Patersons, increasing Wishbone's tenement holding to 159 km2 from 67 km2
Grades up to 44 g/t Au (grams per tonne gold) returned from NE Workings from stream sediments.
News rich period to follow. Funded to drill both cottesloe and red setter were either will be trasformative for WSBN going forward with Newcrest seeking new local high profit project's -
https://bmo.qumucloud.com/view/2021-gmm-newcrestmining#/ around 16mins in.
+ Futher results due from the white mountains.
18p yearly high and in the strongest position by far as we await an overdue operations update at both red setter and cottesloe.
ANNUAL PRODUCTION LITHIUM 7,285 t.p.a. LCE2
ANNUAL PRODUCTION K2SO4 32,000 t.p.a.
PROJECT LIFE 30 years
TOTAL RESOURCE 757,145 tons LCE (665,238 M&I)
CONSTRUCTION CAPITAL COSTS €159 million3
CONSTRUCTION PERIOD <24 months
NET PRESENT VALUE (PRE-TAX) €428 million (@8%)
AVERAGE LOM ANNUAL EBITDA ESTIMATE €58.5 million per annum
BASE CASE 30YR REVENUE AND PRE-TAX CASHFLOW €3.86 billion and €1.56 billion respectively
IRR (PRE-TAX) 27.4%
Zinnwald is an advanced, integrated lithium project in the heart of Europe designed to produce a suite of value-added downstream battery-grade lithium products. With a DFS completed, a mine life of 30 years, which equates to < 50% of the current identified mineral resources, approved mining licence, strong economics showing a potential NPV of €428m, IRR of 27%, and 46% EBITDA margin, the Company aims to fast-track the project to production