Gold Juniors

[Chippie]

ARS appears to be a good punt. Conditional takeover offer at 5.05 cents . Shares are about 4.3 cents so about 20 percent gain there

The condition of requiring 90% acceptance could be tricky. Although it does confirm that they think is is worth more than the 5 cents

Look at the millions of shares that traded hours before the announcement. If that is not insider trading, I do not know what is.

[JBmurc]

Ended up selling my PDIOA for a 12% profit(wasn’t happy with CR) and shifting funds into CNB well worth a look planning to toll treat 25,000oz gold next year =around $30mill EBIT (marketcap 7mill) have some very nice exploration grounds

[zero]

11 May 2020 Copied this off the Bellevue site on hotcopper, didn't give a source.

The lack of new major deposits being discovered means that the project pipeline is increasingly short of large, high-quality assets needed to replace ageing major gold mines.

The share of gold exploration budgets devoted to grassroots exploration has fallen by half since the 1990's
S&P Global Market Intelligence’s annual analysis of major gold discoveries has revealed that none have been made in the last three years.

Only 25 deposits have been discovered over the past decade, containing only 154.3 million ounces (or 7%) of all gold contained in discoveries since 1990.

According to the report, the severe lack of new major discoveries over the past decade is a result of companies focusing on advanced-stage assets and known deposits, rather than searching for new discoveries.

The share of gold exploration budgets devoted to grassroots exploration has fallen by half since the 1990s with both pure explorers and producers have shifted their spending.

Juniors have increasingly focused on expanding known deposits, while producers have increasingly focused on exploration at existing operations.

Known deposits and mineralisation
In 2019, none of the four initial gold resource announcements made was actually discovered in the last few years.

The Gran Bestia announcement of 4.2 million ounces made by Lumina Gold Corp (CVE:LUM) is a new zone at the Cangrejos deposit in Ecuador, which was discovered in 1999.

The 4-million-ounce Chulbatkan deposit announced by N-Mining Limited was discovered in 1980, although this was the first resource for the project.

Nelligan's initial resource of 3.2 million ounces announced in 2016 is the group's most recent discovery, while the 2.5 million ounces Estelle deposit was first drilled in 1988.


African and Latin American hot spots
The 10 countries in Africa and Latin America with discoveries over the past decade account for two-thirds, or 102.3 million ounces, of the 154.3 million ounces discovered.

S&P's report observed there was relatively little gold in recent discoveries in Canada and the US, which host only 17% of gold discovered in the last decade compared to Africa and Latin America, which discovered 37% and 29% of gold respectively.

Ecuador is one of the up-and-coming countries for exploration, hosting the most gold discovered in the 2010-19 period, despite having only one discovery - SolGold plc (LON:SOLG) Cascabel copper-gold deposit.

The US and Australia host the most gold in discoveries prior to 2010, accounting for 14% and 10%, respectively, of the annual totals but since 2010 each has had only one major discovery with the US hosting 10% and Australia just 4% of the gold discovered in the past 10 years.

70% of gold hosted in largest assets
Of the 154.3 million ounces contained in the 25 discoveries made over the past 10 years, 70% is contained in the 10 largest deposits.

The biggest is SolGold's Cascabel copper-gold deposit found in 2013, which forecasts annual production of 150,000 tonnes of copper and 245,000 ounces of gold.

Zhaojin Mining Industry Company Limited's (HKG:1818) Haiyu gold project in China's Shandong province is the second-largest discovery, found in 2011 and hosting almost 16.4 million ounces in reserves and resources.

Barrick Gold Corp’s (NYSE:GOLD) Goldrush discovery in Nevada, also found in 2011, is third with 14.9 million ounces in reserves and resources.


Replacing ageing gold mines
While there are still plenty of gold assets to be developed, the lack of new major deposits being discovered means that the project pipeline is increasingly short of large, high-quality assets needed to replace ageing major gold mines.

The report identified 278 deposits discovered over the 1990-2019 period containing 2.19 billion ounces of gold in reserves and resources but 135 of these are not yet in production.

Only 30 have over 10 million ounces of gold in reserves and resources and only nine of these assets have a grade of 1 g/t or greater.

Some of the assets will likely enter production over the next few years, such as Barrick's Goldrush and Zijin Mining Group's (HKG:2899) Buritica.

Some, like Rosia Montana in Romania, face significant challenges and might never be developed, and others, like NovaGold Resources Inc’s (NYSEAMERICAN:NG) Donlin in Alaska, have a potentially long road to production.

And with production from existing mines expected to begin decreasing in 2022, there is a need for more high-quality assets that can be developed in the medium term.

Future trends
S&P's report states that additional grassroots exploration is needed to ensure the pipeline has enough quality assets required to replace ageing mines.

The industry has trended away from this generative exploration over the last few decades, and the trend is not expected to reverse in the near term.

S&P expects the opposite in 2020, as COVID-19 impacts exploration plans by companies of all sizes.

[Skene]

Some good news out of AMG this morning: Gilded Rose sells for $4,000,000 ($2,500,000 already received) which adequately funds progress at Mt Freda & progressing the Golden Mile lease and development.

https://www.asx.com.au/asxpdf/202005...jww1trd63b.pdf

[JBmurc]

Some good news out of AMG this morning: Gilded Rose sells for $4,000,000 ($2,500,000 already received) which adequately funds progress at Mt Freda & progressing the Golden Mile lease and development.

https://www.asx.com.au/asxpdf/202005...jww1trd63b.pdf

yes should push AMG cash balance past 4mill ... they already have the round oak toll agreement 600kpa plant ... just need to get the licenses some more infill drilling to prove JORC reserves from Fes study ...not sure how much more funds will be needed ,,,but surely not much more

[JBmurc]

OBM trading Halt for JORC Reserve update ... if Good should push SP towards 30c

RXL trading halt
--Street talk understands the company would seek to raise as much as $8.75 million through a placement of new shares.

It is understood the offer was set to be priced at 2.4¢ a share, which represented an 11.1 per cent discount to Rox's 2.7¢ last close and a 10.3 per cent discount to the five-day VWAP.

Taylor Collison and Canaccord Genuity were joint lead managers on the offer and UK-based broker Tamesis was also on board to help bring in some European money.

It is understood bids into the placement would be due by 5pm on Monday.

The fresh capital would be used to increase Rox's stake in the Youanmi gold project in Western Australia. Rox would pay fellow listed resources small cap Venus Metals Corporation $3 million to increase its stake in the project to 70 per cent, from 50 per cent.

Funds would also be used to accelerate the drilling program at Youanmi and also accelerate drilling at one of Rox's nickel projects.

The $39 million company's flagship project is Youanmi, which it acquired through a joint venture in April 2019.

The company was expected to enter a trading halt on Monday.

[Skene]

More positive news for AMG with the JORC out today.

https://www.asx.com.au/asxpdf/202006...qylgfyfg5f.pdf

Highlights:
• Maiden Mineral Resource Estimate has been defined within the Mt Freda Complex for a total
of 1.7 Mt at 2.06 g/t Au, containing 113,000 Oz of Gold
• The JORC Resource has been estimated over the following Ausmex Cloncurry Gold projects:
o Mt Freda Open Cut Gold Mine (Granted Mining Leases)
o Golden Mile ML100201 mines Falcon, Shamrock, Comstock and Little Duke
• The Mineral Resource estimate highlights that gold mineralisation extends from surface, with
the potential to develop a multi-pit gold mining hub at Cloncurry, targeting gold ore processed
via third party CIP processing facilities utilizing current haul road infrastructure in place.
• Previous cyanide leach test work for gold completed by Amdel for QMC in 2012 using Mt
Freda ore produced high yields above 90%. The previous operator of Mt Freda, Diversified
Mineral Resources reported CIP recoveries of up to 95% for gold.
• The Company has a binding agreement where all ore produced from the Golden Mile must be
processed at the Round Oak Minerals Limited Great Australia Mine 600 ktpa ore processing
facility in Cloncurry.
• The Mineral Resource estimate for the Mt Freda Pit has additional upside as numerous
historical high-grade gold drill holes did not meet the JORC (2012) reporting requirements and
were not used in the estimate.
• The Company is now focused on completing current scoping studies for the Mt Freda Complex
to assess mining and processing options available in Cloncurry.
• The Company is focusing on near term gold production to fund additional drilling to upgrade
and potentially extend known mineralisation.
• A second Mining Lease application will be submitted for the Little Duke gold resource,
cementing the region as a central mining hub.
• The Company has a strong cash position to advance the Complex following the sale of the
Gilded Rose Gold project for $4 million. (Refer ASX release 25th May 2020)

[Joshuatree]

Hope you dont mind Younga ive transferred your post and mine to here. Good luck with WCN, i was a pretty stale holder and pleased to get out.

JoshuaTree "Flicked WCN off today for a re 65% gain .Held for two years.Interest is trickling down to the Gold explorers now. And WCN's soil sampling etc is in progress and their holding in RTG has jumped in value."

Younga "I bought some WCNOE's last Friday....I'm loading up for the drilling. Also got some WRM and some BNR.. and CCZ. All should be drilling soon ... And CR1 announcing drill results soon...."

More good news for tiddly spekky explorers EXR ( i hold) being taken over by PRU with an all share takeover.(well im happy with it)

[Joshuatree]

WCN doing it for you Younga. ive punted into MSR with its nearology.

DYOR punting here.

[JBmurc]

More positive news for AMG with the JORC out today.

https://www.asx.com.au/asxpdf/202006...qylgfyfg5f.pdf

Highlights:
• Maiden Mineral Resource Estimate has been defined within the Mt Freda Complex for a total
of 1.7 Mt at 2.06 g/t Au, containing 113,000 Oz of Gold
• The JORC Resource has been estimated over the following Ausmex Cloncurry Gold projects:
o Mt Freda Open Cut Gold Mine (Granted Mining Leases)
o Golden Mile ML100201 mines Falcon, Shamrock, Comstock and Little Duke
• The Mineral Resource estimate highlights that gold mineralisation extends from surface, with
the potential to develop a multi-pit gold mining hub at Cloncurry, targeting gold ore processed
via third party CIP processing facilities utilizing current haul road infrastructure in place.
• Previous cyanide leach test work for gold completed by Amdel for QMC in 2012 using Mt
Freda ore produced high yields above 90%. The previous operator of Mt Freda, Diversified
Mineral Resources reported CIP recoveries of up to 95% for gold.
• The Company has a binding agreement where all ore produced from the Golden Mile must be
processed at the Round Oak Minerals Limited Great Australia Mine 600 ktpa ore processing
facility in Cloncurry.
• The Mineral Resource estimate for the Mt Freda Pit has additional upside as numerous
historical high-grade gold drill holes did not meet the JORC (2012) reporting requirements and
were not used in the estimate.
• The Company is now focused on completing current scoping studies for the Mt Freda Complex
to assess mining and processing options available in Cloncurry.
• The Company is focusing on near term gold production to fund additional drilling to upgrade
and potentially extend known mineralisation.
• A second Mining Lease application will be submitted for the Little Duke gold resource,
cementing the region as a central mining hub.
• The Company has a strong cash position to advance the Complex following the sale of the
Gilded Rose Gold project for $4 million. (Refer ASX release 25th May 2020)

Market didn't warm to it ... but looks to me like a nice wee project to get $20mill+ free cashflows to fund much larger exploration projects