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Wiluna Mining up as high-grade gold results continue to underpin stage-1 sulphide strategy

Wiluna Mining Corporation Ltd (ASX:WMX) has received more high-grade results of up to 8 metres at 15.2 g/t from 248 metres, including 5 metres at 23 g/t from resource development and infill drilling at the Wiluna Mining Centre in WA.

The further strong drilling results, particularly at Essex continue, to deliver shallow sulphides into the company's stage 1 sulphide strategy at Wiluna.

Drilling at the Essex and Bulletin targets continue to increase the geological confidence in the high-grade sulphide resources around the existing mine infrastructure, which will allow for rapid and low-cost development of Wiluna.

Delivering into strategy[hhmc]
Shares have been up 15% to an intra-day high of $1.45.

Wiluna Mining executive chair Milan Jerkovic said: “These ongoing outstanding results under the headframe are continuing to deliver into our stage 1 sulphide strategy as we initially pursue shallow high-grade sulphides targets.

“The fact that we have now had exceptional drilling resul..

Wiluna Mining Corporation Ltd (ASX:WMX) has received more high-grade results of up to 8 metres at 15.2 g/t from 248 metres, including 5 metres at 23 g/t from resource development and infill drilling at the Wiluna Mining Centre in WA.

The further strong drilling results, particularly at Essex continue, to deliver shallow sulphides into the company's stage 1 sulphide strategy at Wiluna.

Drilling at the Essex and Bulletin targets continue to increase the geological confidence in the high-grade sulphide resources around the existing mine infrastructure, which will allow for rapid and low-cost development of Wiluna.

Delivering into strategy


Shares have been up 15% to an intra-day high of $1.45.

Wiluna Mining executive chair Milan Jerkovic said: “These ongoing outstanding results under the headframe are continuing to deliver into our stage 1 sulphide strategy as we initially pursue shallow high-grade sulphides targets.

“The fact that we have now had exceptional drilling results from both Essex and Bulletin is exciting."

High-grade results


Other drill results at Essex include:

  • 8 metres at 5.31 g/t from 168 metres, including 2 metres at 18.12 g/t;
  • 5 metres at 3.95 g/t from 287 metres, including 3 metres at 6.26 g/t;
  • 4 metres at 24.46 g/t from 159 metres, including 1 metre at 94.5 g/t;
  • 6 metres at 16.78 g/t from 174 metres;
  • 5 metres at 3.13 g/t from 199 metres, including 2 metres at 21.30 g/t; and
  • 11 metres at 10.51 g/t from 220 metres;

Results from drilling at Bulletin include:

  • 7.4 metres at 15.82 g/t from 40.56 metres; and
  • 4.1 metres at 4.88 g/t from 44.15 metres.

Jerkovic said: “Our plan to convert the large sulphide inferred resources at Wiluna into indicated resources continues to gather significant momentum and confidence with every new hole.

“These results will lead to new resource and reserves updates and mine planning work scheduled over the coming months.”

The company intends to provide its update to its mineral resource estimate in September 2020 and ore reserves in December 2020.

Essex high-grade results infilling current inferred and indicated areas

Mine development plan


The company is focused on drilling the sulphide ore bodies in support of the proposed mine development sequence at the Wiluna Mining Centre, which intends to:

  • Significantly increase the confidence in the sulphide resources from inferred to indicated category which will, in turn, underpin the stage-1 reserve estimation;
  • Add valuable tonnes and ounces to the companys overall mineral resources; and
  • Find new, high-grade shoots that will enhance the ounces per vertical metre and, more importantly, increase the grade.

This will help consolidate stage-1 and enhance the transition into stage-2 which plans to increase production to more than 200,000 ounces per annum of gold dore and gold in concentrate.

“Becoming a Tier 1 gold mine”


Jerkovic said: “Wiluna Mining is a development and growth company currently focused on stage-1 sulphide development by September 2021, as well as expanding our mineral resources and increasing grade to feed into stage-1 and to make new discoveries.

“The curRead More – Source

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Australia

VIP Gloves set to benefit from strong outlook for glove market as outlined in new research report

VIP Gloves Ltd (ASX:VIP) looks set to benefit from strong glove market fundamentals with glove demand expected to remain robust driven by COVID-19, the upcoming US flu season and the discovery of a new swine flu strain in China, according to Macquarie Research.

The research bank expects strong earnings growth to continue for glove manufacturers in 2021, which may cause a further re-rating of the sector.

Nitrile gloves

VIP Gloves manufacturers nitrile gloves, which according to Macquarie Bank, are Type-1 allergy-free, puncture-resistant, have good barrier protection against infection and contamination and are suitable in medical and high-risk tasks.

The company said sales orders had been filled through to the second quarter of 2021, with recent orders at higher sale prices which vary, depending on the specifications and volume.

These gloves are manufactured in Malaysia.

Research note[hhmc]
In a research note titled 'Malaysia Rubber Gloves: 2nd wave is coming; Get ready for th..

VIP Gloves Ltd (ASX:VIP) looks set to benefit from strong glove market fundamentals with glove demand expected to remain robust driven by COVID-19, the upcoming US flu season and the discovery of a new swine flu strain in China, according to Macquarie Research.

The research bank expects strong earnings growth to continue for glove manufacturers in 2021, which may cause a further re-rating of the sector.

Nitrile gloves

VIP Gloves manufacturers nitrile gloves, which according to Macquarie Bank, are Type-1 allergy-free, puncture-resistant, have good barrier protection against infection and contamination and are suitable in medical and high-risk tasks.

The company said sales orders had been filled through to the second quarter of 2021, with recent orders at higher sale prices which vary, depending on the specifications and volume.

These gloves are manufactured in Malaysia.

Research note


In a research note titled 'Malaysia Rubber Gloves: 2nd wave is coming; Get ready for the ride', the bank said its investment thesis of a shortage of gloves was still intact as an additional capacity of around 70% next year was only expected to come on board late in the second quarter of 2021.

It said the sector had not seen the peak in glove demand yet, especially with a new swine flu strain in China and the upcoming flu season in the US which peaks between December and February.

“This should support overall glove demand until first half 2021 and only gradually normalise in second half 2021, having assumed a vaccine is available in mid-2021.”

Macquarie Bank said despite ambitious expansion plans from Chinese manufacturers, they would not pose an immediate threat to Malaysian manufacturers as most capacity increases in China would only gradually start in late second quarter 2021 and be rolled out on a staggered basis.

Although there is a potential oversupply risk in 2022, Macquarie Bank analyst Denise Soon said this concern “can be easily eased with the deferment of expansion plans (which we have seen in the past) or absorption from higher China domestic consumption.”

COVID-19 vaccine


Global demand for gloves is expected to normalise gradually when there is a vaccine, which will take stages to commercialise globally.

Soon said vaccine from Pfizer inc (NYSE:PFE) and German group BioNtech (NASDAQ:BNTX) had shown promising results in early testing and looked to be on track to have the first shot in early 2021.

Despite COVID-19, Macquarie Bank notes that gloves are staples within the healthcare industry and foresees continued shortages in 2021. It projects strong earnings growth to continue for glove manufacturers in 2021 estimates.

New COVID-19 cases, flu season


“New cases globally continue to be on the rise, especially in the United States, Brazil and India. In addition, some countries ie Israel, China, Korea, Europe, are currently undergoing a second-wave of COVID-19.”

As most of the vaccines are still under Phase II clinical trials, it suggests that the availability of a vaccine will likely be in mid-2021.

Macquarie Bank highlighted that the last flu season in 2019 was “one of the worst in five years”. It believes the US healthcare system will be prepared for the annual flu season by stocking up personal protective equipment (PPE) such as medical gloves. The expected stocking up activity should support demand growth in the first half of 2021.

New swine flu


Further a new type of swine flu that can Read More – Source

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Mali Lithium in trading halt ahead of announcement around Goulamina mineral resources increase

Mali Lithium Ltd (ASX:MLL) has been granted a trading halt with an announcement pending in regard to a potential increase in Goulamina Lithium Project resources in Mali, West Africa.

Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Wednesday, July 8, 2020, or when the announcement is released to the market.

Before the halt shares were up more than 30% to 15 cents and have risen from 4.1 cents at the close on April 7.

Strong lithium results[hhmc]
In June, the company received strong and broad lithium results from RC drilling at the Danaya zone of the Goulamina project, including:

64 metres at 1.85% Li2O from 121 metres;
81 metres at 1.47% from 63 metres;
72 metres at 1.73% from 125 metres;
57 metres at 1.38% from 57 metres and 35 metres at 1.48% from 162 metres;
38 metres at 2.00% from 74 metres;
46 metres Read More – Source
[contf]
[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Mali Lithium Ltd (ASX:MLL) has been granted a trading halt with an announcement pending in regard to a potential increase in Goulamina Lithium Project resources in Mali, West Africa.

Unless ASX decides otherwise, the securities will remain in a trading halt until the earlier of the start of normal trading on Wednesday, July 8, 2020, or when the announcement is released to the market.

Before the halt shares were up more than 30% to 15 cents and have risen from 4.1 cents at the close on April 7.

Strong lithium results


In June, the company received strong and broad lithium results from RC drilling at the Danaya zone of the Goulamina project, including:

  • 64 metres at 1.85% Li2O from 121 metres;
  • 81 metres at 1.47% from 63 metres;
  • 72 metres at 1.73% from 125 metres;
  • 57 metres at 1.38% from 57 metres and 35 metres at 1.48% from 162 metres;
  • 38 metres at 2.00% from 74 metres;
  • 46 metres Read More – Source
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Australia

Matador Mining directors show faith in gold strategy with placement participation approved

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the companys gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZs shareholders at a general meeting held last month.

Director purchases[hhmc]
On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming[hhmc]
Matador Mining is currently in aRead More – Source

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[contfnew]

Proactiveinvestors
[contfnewc]
[contfnewc]

Matador Mining Ltd (ASX:MZZ) directors have demonstrated their confidence in the companys gold exploration strategy by participating in a $5.2 million private placement concluded earlier this year.

The participation by executive chairman Ian Murray and executive director Keith Bowes was approved by MZZs shareholders at a general meeting held last month.

Director purchases


On July 1, Murray purchased 1 million shares valued at $200,000 in an indirect interest and this was his first purchase of fully paid ordinary shares.

Also, on that date, Bowes acquired 150,000 shares valued at $30,000 in an indirect interest and now holds 190,000 shares in that interest.

The private placement to institutional, professional and sophisticated investors at a price of 20 cents per share raised $5.2 million.

Capital raising news upcoming


Matador Mining is currently in aRead More – Source

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