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Rooster Talk: Discovery time – Galileo drilling at Fraser Range nickel project

Galileo Mining Ltd (ASX:GAL) is a resources company listed on the Australian Securities Exchange and is exploring for base metals in southeast Western Australia. The company has 100% ownership of its Norseman Project and has joint ventures with the Creasy Group over highly prospective tenements in the Fraser Range.

The Norseman Project is adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 10 kilometres from the companys current JORC cobalt-nickel resources. The Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects.

Nova nearology[hhmc]
The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. The Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012.

Galileos northern Fraser Range tenement is 80 kilomet..

Galileo Mining Ltd (ASX:GAL) is a resources company listed on the Australian Securities Exchange and is exploring for base metals in southeast Western Australia. The company has 100% ownership of its Norseman Project and has joint ventures with the Creasy Group over highly prospective tenements in the Fraser Range.

The Norseman Project is adjacent to the regional town of Norseman in an infrastructure-rich area of Western Australia. A bitumen highway runs parallel to the project area and is less than 10 kilometres from the companys current JORC cobalt-nickel resources. The Norseman Project includes numerous areas with potential for further cobalt discoveries as well as additional nickel and copper prospects.

Nova nearology


The Fraser Range Project covers two zones of the extensive Fraser Range geological belt. The Fraser Range is known for the world-class Nova nickel-copper-cobalt mine discovered by Sirius Resources in 2012.

Galileos northern Fraser Range tenement is 80 kilometres from the operating Nova mine while the southern tenements are just 30 kilometres from the mine. Galileo is targeting Nova style nickel-copper-cobalt mineralisation in the Fraser Range and has a deep level of experience in the region.

The company was originally privately owned by renowned prospector Mark Creasy and Galileo managing director Brad Underwood spent eight years as general manager of the Creasy Groups exploration at the Fraser Range and at Norseman.

Galileo Mining listed on the ASX in May 2018, raising $15 million in IPO funding.

Creasy continues to be the largest shareholder, controlling approximately 31% of the company. ASX-listed miner IGO Ltd (ASX:IGO) and Mineral Resources founder Chris Ellison are included within the companys top five largest shareholders.

Galileo key milestones:

  • 2003 – Registered as a private company wholly-owned by Mark Creasy
  • 2004 – Acquired the Norseman project
  • 2006 – Initial drilling conducted at Norseman
  • 2017 – Maiden JORC Resource completed at Norseman
  • 2018 – Acquired interest in the Fraser Range project
  • 2018 – Launched on the ASX as a public company

Moment of truth

Since the first Coffee with Samso in May, Galileo has been very active in preparing for this moment of drilling targets. We speak of the 'Truth Machine' being what all projects need or fear. In this case, I do believe that this will bring exciting times for shareholders.

Brad Underwood has been preparing these projects with desktop surveys, geochemistry and geophysics. The obvious next step is to drill the targets identified.

Strong newsflow


Brad tells us that there will be coming news for the next six months. He also tells us about how the geophysics is clean, meaning that the country rocks are not compromising the results.

Since preparing for the first Coffee with Samso with Brad, I have come to appreciate how unique this area is compared to your normal nickel project. When Brad talked about the unique metal composition, more copper, I think there are more discoveries left in the Fraser Range.

For further information about Coffee with Samso and Rooster Talks visit: www.samso.com.au

Samso is primarily a consulting company that delivers digital information to the market in terms of creating organic content. Samso simplifies your story to customerRead More – Source

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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
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Proactiveinvestors
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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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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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