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The insect diet takes off – but will you swallow it?

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How flies having sexRead More – Source

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How flies having sexRead More – Source

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Australia

Ausmex Mining extends settlement date for sale of Gilded Rose Gold Project Group

Ausmex Mining Group Ltd (ASX:AMG) and Jin Resources Limited (HK) have agreed to extend the settlement and completion date of the Gilded Rose Gold Project sale in Queensland by one week.

The date has been postponed to Friday, December 13, from December 6.

The terms of the sale and purchase agreement entered into between the parties are:

The sum of $2,400,000 is to be paid on completion, with completion to take place on or before December 13, 2019, in lieu of December 6, 2019;
The sum of $500,000 shall be paid to Ausmex 12 months from December 6, 2019; and
$1,000,000 shall be paid to Ausmex on the production of 10,000 ounces of gold.

The Parties are working swiftly to a successful conclusion of the Transaction.

Mullaby drill targets
The company recently identified three-conductor targets for drilling at the Mullaby prospect within its Burra Copper-Gold Project in South AusRead More – Source

Ausmex Mining Group Ltd (ASX:AMG) and Jin Resources Limited (HK) have agreed to extend the settlement and completion date of the Gilded Rose Gold Project sale in Queensland by one week.

The date has been postponed to Friday, December 13, from December 6.

The terms of the sale and purchase agreement entered into between the parties are:

  • The sum of $2,400,000 is to be paid on completion, with completion to take place on or before December 13, 2019, in lieu of December 6, 2019;
  • The sum of $500,000 shall be paid to Ausmex 12 months from December 6, 2019; and
  • $1,000,000 shall be paid to Ausmex on the production of 10,000 ounces of gold.

The Parties are working swiftly to a successful conclusion of the Transaction.

Mullaby drill targets

The company recently identified three-conductor targets for drilling at the Mullaby prospect within its Burra Copper-Gold Project in South AusRead More – Source

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Australia

Macarthur Minerals hits the ground running in encouraging ASX debut

Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) has hit the ground running for its listing on the Australian Securities Exchange today as it prepares to transition from explorer to producer in the near-term.

The company opened at 28 cents this morning with shares trading more than 10% higher at 31 cents.

Listing on the ASX complements the companys existing, 10-year-old listing on the TSX Venture Exchange in Canada while its securities are also swapped over the counter in New York.

“I shall return”
The companys CEO, vice-president and executive director Joe Phillips told a recent Melbourne meeting of potential investors that the company was named after famed American General Douglas Macarthur.

He said it was appropriate that the General was famous for the words I shall return uttered when he left the Philippines during WWII because the Australian listing represented a return home for the company.

Focus on Lake Giles
Supporting the companys ASX listing is the advanced Lake Giles Iron..

Macarthur Minerals Limited (ASX:MIO) (CVE:MMS) has hit the ground running for its listing on the Australian Securities Exchange today as it prepares to transition from explorer to producer in the near-term.

The company opened at 28 cents this morning with shares trading more than 10% higher at 31 cents.

Listing on the ASX complements the companys existing, 10-year-old listing on the TSX Venture Exchange in Canada while its securities are also swapped over the counter in New York.

“I shall return”

The companys CEO, vice-president and executive director Joe Phillips told a recent Melbourne meeting of potential investors that the company was named after famed American General Douglas Macarthur.

He said it was appropriate that the General was famous for the words I shall return uttered when he left the Philippines during WWII because the Australian listing represented a return home for the company.

Focus on Lake Giles

Supporting the companys ASX listing is the advanced Lake Giles Iron Ore project in WAs Yilgarn region, about 175 kilometres northwest of Kalgoorlie-Boulder.

Macarthur also has conglomerate and hard-rock greenstone gold assets in Western Australia and hard-rock lithium holdings in the battery metals powerhouse of Nevada.

Strength in the iron ore market, a positive future outlook and impressive Lake Giles fundamentals have seen the company take great strides towards production with 2020 to be an important year in the transition from explorer to producer.

Iron ore companies on the ASX have been doing well this year with Fortescue Metals Group Limited (ASX:FMG) up around 140% year-on-year (YOY) and Champion Iron Ltd (ASX:CIA) up around 77% YOY.

Six-month price target of 43 cents

Macarthur opened an offer to list on the ASX in early November seeking to raise up to A$7.5 million via the issue of shares at A25 cents.

This offer was well supported, prompting Breakaway Research to provide a buy recommendation and set a 6-month price target of 43 cents.

Breakaway said the listing would enable the company to profile its “valuable” Lake Giles Iron Ore Project “to an investor base more familiar with the earnings and cash flow potential of the project and its strategic positioning which is driven by rail and port access”.

Lake Giles is 175 kilometres northwest of Kalgoorlie and has substantial magnetite resources at Moonstone project and hematite resources across a number of deposits at the Ularring project.

Moonshine has an indicated and inferred resource of 1.31 billion tonnes at 30.1% iron and metallurgical test work indicates this can be upgraded to 68.5-69.1% iron.

Ularring has an indicated resource of 54.46 million tonnes at 47.2% iron and an inferred resource of 26 million tonnes at 45.4% iron.

Further resource updates are expected with drilling results imminent.

Magnetite focus

Macarthur plans to exploit the hematite resource through tribute mining and to focus on the high-value, high-grade magnetite resource.

After working the project for the last 7-8 years, Macarthur has positioned the project to optimise future and growing demand for high-grade magnetite concentrate, supported by positive studies, strong eRead More – Source

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Australia

Tietto Minerals fully funded to deliver further growth in 2020: Hartleys

Tietto Minerals Ltd (ASX:TIE) recently raised $17 million and has already commenced a 50,000-metre diamond drill program aimed at growing the recently updated Abujar Gold Project resource in Côte D'Ivoire.

Hartleys has maintained its Speculative Buy recommendation for Tietto. The broker has increased its 12-month price target to 42 cents from 40 cents.

Following is an extract from Hartleys research update on Tietto:

Last month, the company met our expectation and delivered a substantial upgrade to the resource, delivering a 24% increase to 45.5Mt @ 1.5g/t Au for 2.15Moz (from 1.7Moz @ 1.4g/t).

Importantly, the core of the AG deposit grew both in terms of tonnes and grade; now 19.3Mt @2.2g/t Au for 1.4Moz.

What is really exciting to see is the Indicated resource within the core now stands at 9.6Mt @ 2.5g/t Au for 760koz, and forms the basis of our base case model for a future operation at Abujar.

Opportunities to optimise
While resource growth is highly likely, the bigger pri..

Tietto Minerals Ltd (ASX:TIE) recently raised $17 million and has already commenced a 50,000-metre diamond drill program aimed at growing the recently updated Abujar Gold Project resource in Côte D'Ivoire.

Hartleys has maintained its Speculative Buy recommendation for Tietto. The broker has increased its 12-month price target to 42 cents from 40 cents.

Following is an extract from Hartleys research update on Tietto:

Last month, the company met our expectation and delivered a substantial upgrade to the resource, delivering a 24% increase to 45.5Mt @ 1.5g/t Au for 2.15Moz (from 1.7Moz @ 1.4g/t).

Importantly, the core of the AG deposit grew both in terms of tonnes and grade; now 19.3Mt @2.2g/t Au for 1.4Moz.

What is really exciting to see is the Indicated resource within the core now stands at 9.6Mt @ 2.5g/t Au for 760koz, and forms the basis of our base case model for a future operation at Abujar.

Opportunities to optimise

While resource growth is highly likely, the bigger prize that could help pay back capital earlier, is potential for a higher-grade starter pit in the northern end of the deposit.

TIE has pointed to a continuous 1.4km zone where at a 1.5g/t cut-off, the resource yields 1Moz @ 3.4g/t Au. The Company has received 6 drill intervals of >200 gram-metres from this zone.

While very encouraging at this stage, we await further detail as to how this will play out.

Is this a 2Moz mine or bigger?

A Scoping Study could be released before the end of the MarQ CY20 but we view the latest resource update as an interim update.

TIE has 3,000m of samples awaiting assay and is drilling a further 50,000m with 4 company owned diamond rigs to deliver another resource update in the SepQ CY20.

A target of 2.7-3Moz could be a reasonable expectation given the deposits are open, presence of artisanal miners and promising geochem on adjacent shears.

Also, the deposit is only defined to ~350m below surface and remains open, so deeper underground opportunities may present themselves.

The question is whether this is a 2Mtpa, 150kozpa open pit scenario today; or does TIE delay Scoping Studies to demonstrate a much larger opportunity with underground potential and/other additional open pits in 12 months time?

Is there continuity?

The published drill results show that the foliated ortho-gneiss and thicker mineralised intervals are generally carried by a narrow but very high-grade zone, surrounded by a halo of lower grade gold above a 0.3g/t Au cut-off.Read More – Source

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