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Auteco Minerals hits 12-year high on declaring maiden 830,000-ounce Pickle Crow resource at 11.6 g/t

Auteco Minerals Ltd (ASX:AUT) more than doubled after declaring a maiden JORC 2012-compliant inferred resource gold of 830,000 ounces at 11.6 g/t for the Pickle Crow Gold Project in Ontario, Canada.

The company is confident of building on this through its maiden drilling program, which started last month, with results to form part of a resource update later this year.

Mineralisation at the project in a world-class gold mining province is open in every direction and there are numerous walk-up targets to test.

Shares surged to a new 12-year high on volume of more than 74 million and have been up as much as 112% to 17 cents before closing at 16 cents.

Strong start at Pickle Crow[hhmc]
Auteco executive chairman Ray Shorrocks said the company had made a strong start in its strategy to establish Pickle Crow as a world-scale project in a Tier-1 location.

“This maiden JORC resource, which has been independently calculated, confirms Pickle Crow is a significant, high-grade deposit with imm..

Auteco Minerals Ltd (ASX:AUT) more than doubled after declaring a maiden JORC 2012-compliant inferred resource gold of 830,000 ounces at 11.6 g/t for the Pickle Crow Gold Project in Ontario, Canada.

The company is confident of building on this through its maiden drilling program, which started last month, with results to form part of a resource update later this year.

Mineralisation at the project in a world-class gold mining province is open in every direction and there are numerous walk-up targets to test.

Shares surged to a new 12-year high on volume of more than 74 million and have been up as much as 112% to 17 cents before closing at 16 cents.

Strong start at Pickle Crow


Auteco executive chairman Ray Shorrocks said the company had made a strong start in its strategy to establish Pickle Crow as a world-scale project in a Tier-1 location.

“This maiden JORC resource, which has been independently calculated, confirms Pickle Crow is a significant, high-grade deposit with immense growth potential,” he said.

The resource at a lower cut-off of 3.5 g/t runs from the surface immediately adjacent to existing underground and surface infrastructure.

This estimate stems from a review of the existing data at Pickle Crow, including previous non-JORC compliant resources and has been completed by Perth-based Cube Consulting.

Model validated


Shorrocks said: “The resource validates the geological model of our technical team, which in turn supports their view about the scope for further resource growth.

“We are now undertaking the first systematic exploration program at Pickle Crow for 50 years.

“Our confidence in the project has been strengthened by the visual results from the first few drill holes and as a result, we have added a second drill rig and increased the program from 5,000 metres to at least 10,000 metres.”

Maiden drilling progresses


Auteco started its maiden drilling program at Pickle Crow late last month and since then nine holes have been drilled with assays pending analysis.

Visual inspection of the initial drill intersections validates the geological interpretation with significant mineralisation, veining and visual gold intercepted.

With numerous high-grade targets identified since the acquisition, Auteco aims to continue drilling in 2020.

“This is just the beginning of work at Pickle Crow,” Shorrocks said.

“Our active exploration has three goals, firstly near-term resources growth focused on adding geological confidence to already identified areas of mineralisation that can be brought into the resource inventory.

“Secondly, extensions to the current known resources which remain open in both along strike and down dip.

“Finally, new discovery through step-out exploratioRead More – Source

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Australia

Emmerson Resources raising up to $4.5 million accelerate NSW gold exploration

Emmerson Resources Ltd (ASX:ERM) has secured commitments to raise up to $3.5 million in an oversubscribed placement to institutional and sophisticated investors with a Share Purchase Plan (SPP) also planned to raise up to a further $1 million.

Proceeds from the capital raising will be used to accelerate exploration of the company's gold and copper-gold prospects in NSW as well as to support its emerging gold royalty business.

New US-based investor[hhmc]
Consistent with the companys objective of diversifying its shareholder base, Canada's new resource-focused merchant bank Palisades Goldcorp Ltd has subscribed for $2 million of the placement to become a new strategic investor providing visibility to the important North American market.

Under the placement, Emmerson will issue about 35 million fully paid ordinary shares at an issue price of 10 cents each.

“Strong position” to advance projects[hhmc]
Managing director Rob Bills said: “This new funding places Emmerson in a str..

Emmerson Resources Ltd (ASX:ERM) has secured commitments to raise up to $3.5 million in an oversubscribed placement to institutional and sophisticated investors with a Share Purchase Plan (SPP) also planned to raise up to a further $1 million.

Proceeds from the capital raising will be used to accelerate exploration of the company's gold and copper-gold prospects in NSW as well as to support its emerging gold royalty business.

New US-based investor


Consistent with the companys objective of diversifying its shareholder base, Canada's new resource-focused merchant bank Palisades Goldcorp Ltd has subscribed for $2 million of the placement to become a new strategic investor providing visibility to the important North American market.

Under the placement, Emmerson will issue about 35 million fully paid ordinary shares at an issue price of 10 cents each.

“Strong position” to advance projects


Managing director Rob Bills said: “This new funding places Emmerson in a strong position to advance our NSW projects to the next phase while momentum builds in our emerging gold royalty business at Tennant Creek.

“We welcome Palisades Goldcorp and other new investors to the register and thank existing shareholders for their continued support.

“The strongly supported placement reflects investor appetite for Emmersons strategy and high-quality gold and copper-gold portfolio.”

For each share issued to participants under the placement, investors will also be issued one attaching unlisted option with an exercise price of 16 cents each, exercisable on or before July 8.

Share Purchase Plan


Additionally, a share purchase plan (SPP) will be undertaken through which existing holders of Emmerson fully paid ordinary shares will have the opportunity to acquire new shares and options under the same terms as the placement to raise up to a further $1 million.

The placement and SPP price are at a 4.8% discount to the last Read More – Source

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Australia

Cellmid has Wondfo SARS-CoV-2 rapid test distribution agreement extended

Cellmid Limited (ASX:CDY) has had the authorisation from Guangzhou Wondfo Biotech Co Ltd (SHE:300482) extended for Australia Application Pty Ltd to be a distributor of the Wondfo SARS-CoV-2 antibody test in Australia until December 30, 2020.

The company has also amended the agreement with Australia Application for Cellmid to be a distributor of the Wondfo test in Australia until December 30, 2020, with the previous minimum order requirements removed.

The amended agreement is subject to Cellmid maintaining registration of the product with the Australian Therapeutic Goods Administration.

Both the agreements would be extended beyond December 30, 2020, with written consent.

Cellmid shares have been as much as 20% higher today to 12 cents.

Antibody tests for clinical management[hhmc]
As the pandemic progresses in the coming months, it is Cellmids opinion that serological testing, including rapid tests, will have an important role in widespread population surveys as well as in research ..

Cellmid Limited (ASX:CDY) has had the authorisation from Guangzhou Wondfo Biotech Co Ltd (SHE:300482) extended for Australia Application Pty Ltd to be a distributor of the Wondfo SARS-CoV-2 antibody test in Australia until December 30, 2020.

The company has also amended the agreement with Australia Application for Cellmid to be a distributor of the Wondfo test in Australia until December 30, 2020, with the previous minimum order requirements removed.

The amended agreement is subject to Cellmid maintaining registration of the product with the Australian Therapeutic Goods Administration.

Both the agreements would be extended beyond December 30, 2020, with written consent.

Cellmid shares have been as much as 20% higher today to 12 cents.

Antibody tests for clinical management


As the pandemic progresses in the coming months, it is Cellmids opinion that serological testing, including rapid tests, will have an important role in widespread population surveys as well as in research and development activities such as drug and vaccine trials and as an adjunct device in diagnostic and triage settings.

The company also pointed to a recent peer-reviewed article by the Doherty Institute in Nature Medicine around the utility of antibody tests in clinical management of COVID-19 patients In countries where the incidence of the disease has been significantly higher, such as Spain, Germany and the United States, where population-wide seroprevalence studies have commenced.

The company is confident its agreement extensions maintain its ability to participate in this potential market.

The Wondfo test


The test was recently tested by the Doherty Institute, on behalf of the TGA.

In the most relevant period of 14+ days following the onset of symptoms, it was shown to have the equal highest sRead More – Source

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Australia

Syrah Resources well set to capitalize on new trends in post-coronavirus global graphite markets

Syrah Resources Ltd (ASX:SYR) could end up being one of the major beneficiaries of the economic transformations that are likely to take place in the post-coronavirus crisis world.

Major themes are already emerging: supply chains are likely to become increasingly localized, the electrification of the worlds vehicle fleet is set to gather pace, and markets in general are becoming more wary of the monopolistic tendencies of some countries as regards commodities.

With its graphite production in Mozambique Syrah covers all these bases and, as its shares are currently trading at a relatively lowly A$0.31, also offers investors an entry point to the future at a reasonable price.

But what exactly is possible here?

Well, for context, its worth noting that when the Australian graphite boom was in full swing Syrahs shares were trading at around 20 times higher than they are now. Back then though, there was a bubble mentality in the market and actualization of the companys plans was still some..

Syrah Resources Ltd (ASX:SYR) could end up being one of the major beneficiaries of the economic transformations that are likely to take place in the post-coronavirus crisis world.

Major themes are already emerging: supply chains are likely to become increasingly localized, the electrification of the worlds vehicle fleet is set to gather pace, and markets in general are becoming more wary of the monopolistic tendencies of some countries as regards commodities.

With its graphite production in Mozambique Syrah covers all these bases and, as its shares are currently trading at a relatively lowly A$0.31, also offers investors an entry point to the future at a reasonable price.

But what exactly is possible here?

Well, for context, its worth noting that when the Australian graphite boom was in full swing Syrahs shares were trading at around 20 times higher than they are now. Back then though, there was a bubble mentality in the market and actualization of the companys plans was still some way off.

This time round the market is in a fairly sober mood, following months of coronavirus-related lockdowns, but Syrah is now that much closer to becoming one of the worlds major players in anode graphite production.

Indeed, at the start of the year, as graphite prices stumbled, Syrah took the decision to cut back on production to some degree, in order to assist in balancing the market. Once youre taking decisions like that, you know youve reached a position of some relevance.

The questions now are: what will that market do next, and what will Syrah do next?

A key point of departure when it comes to answering both of these questions is to consider Syrahs ongoing expansion into upstream operations in the USA.

In 2019 the company sold of the order of 160,000 tonnes of natural graphite, of which around 120,000 tonnes of fines graphite went into the Chinese market, one of the biggest in the world.

That key market will remain in place for Syrah in the years ahead, but opening up America too puts the company much further up the value chain. Currently, 100% of anode precursor, the processed material that actually ends up being used in batteries, is produced in China. And 100% of coated precursor, the finished product, is produced in Asia.

But that is about to change.

“The aim,” says Syrahs Kristian Stella, “to become the first ex-China vertically integrated producer of finished anode material from natural graphite.”

The anodes in question are the negative electrodes of lithium ion batteries, which almost everyone expects to proliferate in the coming years. Vehicle sales as a whole took a hit during the coronavirus crisis, but it was notable that in the US Tesla (NASDAQ:TSLA) outsold everybody else. Meanwhile, charging infrastructure is increasingly being rolled out and, with the word just having reminded itself of what a major reduction of atmospheric emissions would feel like, there is plenty of positive sentiment around.

And unlike many companies around, Syrah is already well positioned to take advantage. In 2018 the company bought a site in Louisiana, where it subsequently produced unpurified spherical graphite and sent out a batch of samples to potential customers.

“The intent ultimately is to address the ex-Asia market,” says Stella.

“We initially established in the USA, but since that time European electric vehicle sales have gained momentum. So, we see the potential to export from the USARead More – Source

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