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Northern Minerals appoints Mark Tory to chief executive officer role

Northern Minerals Ltd (ASX:NTU) has appointed long-serving chief financial officer and company secretary Mark Tory as chief executive officer.

Acting executive chairman Colin McCavana will revert to his former role of non-executive chairman after a period care-taking the executive function of the company following the resignation of former managing director and CEO George Bauk in June.

Tory is a chartered accountant with 35 years of professional experience in the mining industry and accounting professions and has held the role of CFO and company secretary with the company for almost eight years.

“Appropriate path forward”[hhmc]
Acting executive chairman Colin McCavana said the board had conducted a process to evaluate executive leadership options for Northern Minerals as well as carefully considering the strategic direction of both the company and the Browns Range Project.

“The board believes the decision to promote Tory into the role of CEO represents the most appropriate path for..

Northern Minerals Ltd (ASX:NTU) has appointed long-serving chief financial officer and company secretary Mark Tory as chief executive officer.

Acting executive chairman Colin McCavana will revert to his former role of non-executive chairman after a period care-taking the executive function of the company following the resignation of former managing director and CEO George Bauk in June.

Tory is a chartered accountant with 35 years of professional experience in the mining industry and accounting professions and has held the role of CFO and company secretary with the company for almost eight years.

“Appropriate path forward”


Acting executive chairman Colin McCavana said the board had conducted a process to evaluate executive leadership options for Northern Minerals as well as carefully considering the strategic direction of both the company and the Browns Range Project.

“The board believes the decision to promote Tory into the role of CEO represents the most appropriate path forward for the company.

“As we continue to navigate the logistical and economic impacts of COVID-19, business continuity remains our priority and we believe maintaining leadership continuity will best support this outcome.

“Tory is a highly experienced resources executive with significant corporate memory of the journey Northern Minerals has been on with Browns Range.”

Previous executive experience


Read More – Source

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Australia

Lake Resources to present ‘clean’ lithium story at OTC virtual conference this week

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) (FRA:LK1) managing director Steve Promnitz will present the company's 'clean' lithium story at OTCs virtual conference on VirtualInvestorConferences.com this week.

The virtual conference is on Thursday, August 7, at 6.30 am AEST, which is Wednesday, August 6, at 4.30pm ET in the US.

It will be a live interactive online event where investors are invited to ask the company questions in real-time.

An archived webcast will also be made available after the event for those unable to join the live event.

Investors are recommended to pre-register and run the online system, check to expedite participation and receive event updates.

The link for registrations is https://www.tinyurl.com/August6VICPR and details of the event can be found at www.virtualinvestorconferences.com.

Update on progress[hhmc]
Promnitz will provide an update on progress and discuss the looming crisis in the supply of high purity lithium and the need for a disr..

Lake Resources NL (ASX:LKE) (OTCMKTS:LLKKF) (FRA:LK1) managing director Steve Promnitz will present the company's 'clean' lithium story at OTCs virtual conference on VirtualInvestorConferences.com this week.

The virtual conference is on Thursday, August 7, at 6.30 am AEST, which is Wednesday, August 6, at 4.30pm ET in the US.

It will be a live interactive online event where investors are invited to ask the company questions in real-time.

An archived webcast will also be made available after the event for those unable to join the live event.

Investors are recommended to pre-register and run the online system, check to expedite participation and receive event updates.

The link for registrations is https://www.tinyurl.com/August6VICPR and details of the event can be found at www.virtualinvestorconferences.com.

Update on progress


Promnitz will provide an update on progress and discuss the looming crisis in the supply of high purity lithium and the need for a disruptive tech solution to meet the demand.

The presentation will be available on the companys website before the conference timeslot at: https://lakeresources.com.au/investors/presentations/

Clean lithium technology


Lake Resources uses disruptive, clean, direct extraction technology to develop the production of sustainable, high purity lithium.

Its products are sourced from its flagship Kachi Lithium Brine Project in Argentina, within the prolific Lithium Triangle.

The direct lithium extraction process developed by technology partner Lilac Solutions Inc has the ability to produce a premium, battery-grade product sought by batterRead More – Source

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Australia

Red River Resources has solid final quarter, more copper and better earnings: Hartleys

Red River Resources Limited (ASX:RVR) achieved record copper production at its Thalanga Operation in Northern Queensland for the quarter ending June 30, 2020.

An increase in copper grade of ore milled to 1.0% and a record copper recovery to copper concentrate of 84.7% resulted in quarterly production of 2,697 tonnes of high-quality copper concentrate, compared to 2,310 tonnes in the previous quarter.

Hartleys has increased the price target for Red River to 20 cents per share from 19 cents (current price: 12 cents) following the release of June quarterly figures.

The following is an extract from Hartleys research update:

Red River Resources (RVR) reported stable production from its Thalanga Operations in Northern QLD in the JunQ, with production of 4,544t of zinc (+5% qoq), 1,133t of lead (+1% qoq) and 2,697t of copper (+17% qoq, record result) concentrates. The Thalanga Operations reported a positive site EBITDA of A$3.5M (up from negative A$2.6M MarQ), with increased revenue, lowe..

Red River Resources Limited (ASX:RVR) achieved record copper production at its Thalanga Operation in Northern Queensland for the quarter ending June 30, 2020.

An increase in copper grade of ore milled to 1.0% and a record copper recovery to copper concentrate of 84.7% resulted in quarterly production of 2,697 tonnes of high-quality copper concentrate, compared to 2,310 tonnes in the previous quarter.

Hartleys has increased the price target for Red River to 20 cents per share from 19 cents (current price: 12 cents) following the release of June quarterly figures.

The following is an extract from Hartleys research update:

Red River Resources (RVR) reported stable production from its Thalanga Operations in Northern QLD in the JunQ, with production of 4,544t of zinc (+5% qoq), 1,133t of lead (+1% qoq) and 2,697t of copper (+17% qoq, record result) concentrates. The Thalanga Operations reported a positive site EBITDA of A$3.5M (up from negative A$2.6M MarQ), with increased revenue, lower concentrate treatment charges and improved operating costs.

Cash at bank at JunQ end was A$8.1M (down 36% from A$12.7M), after payment of A$3.3M on Far West mine development, A$0.2M on exploration and A$1.5M (US$1M) debt repayment from a facility provided by metal trader Trafigura. Debt is now ~A$7.3m (US$5M) and due to be repaid by 30Sep20. Another US$5M (~A$7.3M) is available to draw for Thalanga, should it be required. RVR has a good working relationship with Trafigura (offtake partner for zinc and lead concentrates), and some flexibility could likely be afforded for the repayment schedule, though not guaranteed. Due to sales timing, a gold concentrate shipment provided another US$1.6M for estimated cash of A$10.4M and Net Cash position A$3.1M. We also note RVR ended the JunQ with higher concentrate inventories further improving the balance sheet.

JunQ result largely in-line


Processed throughput for the JunQ was 82Kt (-2% qoq) at a ~9.2% ZnEq grade (up 8% qoq), with improved zinc, lead and copper recoveries for 5% more zinc concentrate, 1% more lead concentrate and 17% higher copper concentrate production qoq. Payable zinc metal production was 4.6Mlb (up 5% qoq). Reported payable C1 cash costs of US$0.30/lb Zn (down 59%) and C3 costs of US$0.86/lb Zn (down 29%). We had previously forecast slightly higher throughput with zinc, lead grades in-line but lower copper grade. The historic gold tailings processed through Thalanga produced 475dmt of gold in concentrate grading over 62g/t Au for ~950oz and net revenues of US$1.6M.

FY20 delivered less zinc and lead, but more copper


In FY20, RVR delivered payable zinc metal production of 18.8Mlb (or 8.5kt) at a reported C3 cost of US$1.27/lb payable Zn, down from payable zinc metal production of 34.5Mlb (or 15.7kt) at C3 cost of US$0.87/lb payabRead More – Source

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Australia

Kalamazoo Resources adds two highly credentialed senior exploration geologists to team

Kalamazoo Resources Ltd (ASX:KZR) has secured two, highly credentialed senior exploration geologists to advance its newly acquired Ashburton Gold Project in Western Australia.

Matthew Rolfe joins Kalamazoo as a senior exploration geologist for the Ashburton project with extensive experience over Archean and Proterozoic terrains and comes from Northern Star Resources Ltd (ASX:NST), where he was senior exploration geologist for the Pilbara region.

His deep understanding of the Ashburton Gold Project will be particularly beneficial to Kalamazoo and will play an important part in expediting exploration at the project.

Dr Margaret Hawke has also been employed by the company as senior exploration geologist for the Ashburton Gold Project.

“Highly regarded individuals”[hhmc]
Non-executive director and project manager Paul Adams said: “Kalamazoo has been extremely fortunate in securing these two highly credentialed and highly regarded individuals.

“Matt and Margy are both extremely experie..

Kalamazoo Resources Ltd (ASX:KZR) has secured two, highly credentialed senior exploration geologists to advance its newly acquired Ashburton Gold Project in Western Australia.

Matthew Rolfe joins Kalamazoo as a senior exploration geologist for the Ashburton project with extensive experience over Archean and Proterozoic terrains and comes from Northern Star Resources Ltd (ASX:NST), where he was senior exploration geologist for the Pilbara region.

His deep understanding of the Ashburton Gold Project will be particularly beneficial to Kalamazoo and will play an important part in expediting exploration at the project.

Dr Margaret Hawke has also been employed by the company as senior exploration geologist for the Ashburton Gold Project.

"Highly regarded individuals"


Non-executive director and project manager Paul Adams said: “Kalamazoo has been extremely fortunate in securing these two highly credentialed and highly regarded individuals.

“Matt and Margy are both extremely experienced and will form the nucleus of our technical capacity at Ashburton, as we move quickly to generate value from this significant gold system.

“Both have come to Kalamazoo recognising the significant opportunity that the Ashburton Gold Project Read More – Source

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