The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
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
FINANCING SUMMARY
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.
https://www.lse.co.uk/rns/WSBN/high-grade-silver-acquisition-in-patersons-range-7jk13trd795edq9.html
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
https://www.lse.co.uk/rns/WSBN/excellent-initial-results-from-exploration-zhrx83uwzmp9o2i.html
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.
DFS Summary
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
“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..
The results to date on the Company’s Sodankylä target are highly encouraging with a series of IOCG and Shear Zone hosted gold targets highlighted for drilling and the Company is commencing preparations for a drilling programme over these targets.”
News due imminently to start Drilling campaign at red setter and cottesloe both aquired at 14-16p - in the strongest position and falling for no reason. Massive value at WSBN while we wait for them to start drilling giant targets on the boarders if the biggest mines in Australia. Uniformed market - Load and hold
The below is from February 18th - as the gold and silver uptrend continues. The more research I do I cant see any large silver producers in the region either. We acquired cottesloe on the 3rd of march.
Having the FTSE gold index chairman on our board helps connect us to the surrounding majors .
https://goldprice.org/live-gold-price.html
Strengthening gold prices - Anyone would doubts funding coming is an emotion investor and part of the herd - KEFI will be a large contributor to Ethiopians annual GDP and is too far advanced not happen.
Interesting artucle on the present market action
https://seekingalpha.com/article/4413699-gold-silver-giant-bull-market-awakening
"Gold mining shares are also highly likely to rise in price significantly. They are currently at fire sale prices"
Exciting times ahead for KEFI holders
· 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.
The highest priority magnetic bodies within Red Setter (Referred to as Targets A, B and C in Figure 1) cover an expanded area of 3.5 km in strike length and 1 km in width. The highest order Target A occurs over a strike length of 1500m with a width of 400m and occurs within 50-75m of surface. Results of this modelling shows several north plunging magnetic bodies within this anomaly of equivalent susceptibility (possibly pyrrhotite alteration) to that evident at both Newcrest Mining and Greatland Gold's Havieron and RioTinto's Winu discoveries.
Gold rising and everyday a day closer to drilling. WSBN in its strongest position and far of its 18p yearly high - calm before the storm - fully funded
https://m.youtube.com/watch?v=QBRWhTcbWkE&feature=youtu.be
2.23. 8.8mil Oz upwards to 15-20mil Ozs
Funded while the fortune 500 JV is being finalized
11mil Mcap - what does the future look like for Conroy?
“The continued progress on the Company’s Glenish licence, including the discovery of a substantial new gold anomaly at Corlongford close to the border with the Clontibret licence, is highly encouraging and gives further credence to the estimates of 8.8 million potential contained ounces gold in the Clontibret-Clay Lake-Glenish gold target areas. This is in addition to the 517,000 ounces gold (JORC 2012) resource at Clontibret. I am looking forward to accelerated progress in the coming year as part of a joint venture relationship and the Company is planning accordingly.”
“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..
The results to date on the Company’s Sodankylä target are highly encouraging with a series of IOCG and Shear Zone hosted gold targets highlighted for drilling and the Company is commencing preparations for a drilling programme over these targets.”
DFS Summary
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
Euroclear is a major clearing house that settles and clears securities trades executed on European exchanges. Euroclear also functions as central securities depository, where it is custodian for major financial institutions involved in European markets.
Turkish fortune 500 JV is coming Conroy holders
Im heavily invested in EMH from 12.5 and will continue to be for years - but I'm very surprised to see ZNWD at such a fraction of EMHs Mcap when they share the exact same deposit but in the German side of the board.
Keiths talking about upwards of 700mil funding this year for EMH - I believe EMH will see 200p plus throughout 2021
Keith also says that all local supply will have to come online to meet the EU's demands - I see ZNWD bringing similar returns to EMHs 2020, in 2021
Happy Friday all
I'm heavily invested in both and have been since early 2020
ZNWD looking cheap with a 6x smaller Mcap than EMH and will follow EMHs trajectory with Keith saying all locals supplies with have to come online
"For electric vehicle batteries and energy storage, the EU would need up to 18 times more lithium and five times more cobalt in 2030, and almost 60 times more lithium and 15 times more cobalt in 2050, compared to the current supply to the whole EU economy. If not addressed, this increase in demand may lead to supply issues."
Accordingly, having spent many months searching for the right project, we were delighted to be given the opportunity to play a role in the EV revolution through developing the Zinnwald Lithium Project. This project ticked many boxes for us:
· Compelling market: lithium is an important component of battery chemistry and demand for batteries is anticipated to grow due to factors including a transition to EVs.
· Flexible strategy: opportunity to produce several high-value, battery-grade lithium products including LiF, Li2CO3 and LiOH*H2O.
· Strategic location: situated in Germany, which is host to both a major automotive industry and several major chemical producers.
· World class attributes: a September 2020 Feasibility Study on the Project estimated a pre-tax, NPV of approximately €428 million (discounted at 8%); an Internal Rate of Return of 27.4%; and an average life of mine annual EBITDA of €58.5 million.
· Robust mine plan: a 30-year Feasibility Study mine plan equating to the extraction of less than 50% of the currently identified resource and mining licence in place.
· Available expertise: technical expertise in Germany at the project level consisting of world-leading scientists, engineers and geologists.
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.