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Published by Paydirt Media, 2020-12-09 01:40:31

2021-Media-Kit-Profiles-A4

Profiles Gallery 2020












Capital Drilling - Profile ➔




Nucleus - Profile ➔



Auteco - Profile ➔




Bellevue - Profile ➔




MinAnalytical - Profile ➔



First Graphene - Profile ➔




Steinert - Profile ➔




Perth Mint - Profile ➔



Sarama Resources - Profile ➔

Capital Drilling’s continued evolution


has seen the company recently


change its name to Capital Limited. The company’s blast hole drilling teams achieve redrill


rates of less than 1%, well below industry standards


Capital Drilling changed its company name to Capital Limited CAPITAL LIMITED PROVIDES:
(Capital) in June 2020, to better reflect the expanded range of
• Exploration and production drilling
services it now offers.
The company provides load and haul services, fleet • Load and haul services
maintenance and geochemical analysis laboratories in
• Fleet maintenance
addition to its traditional exploration and production drilling
services, providing clients with a fully integrated mining • Geochemical analysis solutions
services offer.

In 2019, Capital increased its mine-site based services Capital’s load and haul services will complement the existing
to include Load and Haul and mine management. The production drilling services, including drill and blast, grade
By providing a fully integrated service, Capital can manage The Capital group of companies now gives clients the option
company’s first mining services contract was also awarded control, pre-splits, dewatering and underground grade
every stage of the process - from designing the blast to to work with a single service provider to supply all their
last year, at Allied Gold Corp’s Bonikro Gold Mine in Côte control drilling.
through to delivery of ore to the mill, delivering a number of needs from exploration programs to full-scale production.
d’Ivoire.
efficiencies for its clients. Clients will benefit from improved project management
Capital invested in new equipment to support its mining Capital can provide clients It is exploration drilling where the Capital story began and efficiencies, an experienced team who have been delivering
business and the fleet continues to rapidly expand. It now the company continues to provide a full range of exploration professional services across Africa for more than 15 years
includes CAT D9 dozers, CAT 16M grader, CAT 6020B with a more efficient, fully drilling services, including RAB, air core, diamond core and a partner with an uncompromising commitment to
mining shovel, CAT 340 excavator and CAT 785 haul trucks. and directional drilling, together with underground RC and safety.
integrated mining services
The company has also recruited a team of well credentialed diamond drilling. Capital has not only expanded its services recently, it has
professionals delivering significant contract mining expertise In 2017, the company completed a strategic acquisition also opened new premises in Perth and London to better
and further African experience for the division. solution support clients where their major regional headquarters are
of Canadian-based geochemical laboratory services,
located.
MSALABS. This gave the company access to a global
network of assay laboratories and capability to provide on- Capital has a long history of successfully expanding the
site laboratories for mining operations. MSALABS provides a services it offers to clients. The company has a culture of
complete range of geochemical analysis for both exploration ensuring professional execution and service delivery and it
and mining projects. is these high standards that have driven many of Capital’s
service extensions, often at their client’s request. It is also
As the company looks to further expand into complimentary
these high standards that will see the continued success
services, including broadening their mine-site based
of the company in its next phase as Capital Limited, a
service offer, it established MSM in 2019 to provide asset
complete mining services provider.
maintenance and labour hire, together with specialist mining
supplies.
Additionally, Well Force International complements
exploration drilling projects with a complete range of survey
and core orientation tool rental solutions, on-site surveying www.capdrill.com
and geophysical logging services, and HiTT, a unique
software solution for borehole management. [email protected]

Capital Drilling’s continued evolution


has seen the company recently


change its name to Capital Limited. The company’s blast hole drilling teams achieve redrill


rates of less than 1%, well below industry standards


Capital Drilling changed its company name to Capital Limited CAPITAL LIMITED PROVIDES:
(Capital) in June 2020, to better reflect the expanded range of
• Exploration and production drilling
services it now offers.
The company provides load and haul services, fleet • Load and haul services
maintenance and geochemical analysis laboratories in
• Fleet maintenance
addition to its traditional exploration and production drilling
services, providing clients with a fully integrated mining • Geochemical analysis solutions
services offer.

In 2019, Capital increased its mine-site based services Capital’s load and haul services will complement the existing
to include Load and Haul and mine management. The production drilling services, including drill and blast, grade
By providing a fully integrated service, Capital can manage The Capital group of companies now gives clients the option
company’s first mining services contract was also awarded control, pre-splits, dewatering and underground grade
every stage of the process - from designing the blast to to work with a single service provider to supply all their
last year, at Allied Gold Corp’s Bonikro Gold Mine in Côte control drilling.
through to delivery of ore to the mill, delivering a number of needs from exploration programs to full-scale production.
d’Ivoire.
efficiencies for its clients. Clients will benefit from improved project management
Capital invested in new equipment to support its mining Capital can provide clients It is exploration drilling where the Capital story began and efficiencies, an experienced team who have been delivering
business and the fleet continues to rapidly expand. It now the company continues to provide a full range of exploration professional services across Africa for more than 15 years
includes CAT D9 dozers, CAT 16M grader, CAT 6020B with a more efficient, fully drilling services, including RAB, air core, diamond core and a partner with an uncompromising commitment to
mining shovel, CAT 340 excavator and CAT 785 haul trucks. and directional drilling, together with underground RC and safety.
integrated mining services
The company has also recruited a team of well credentialed diamond drilling. Capital has not only expanded its services recently, it has
professionals delivering significant contract mining expertise In 2017, the company completed a strategic acquisition also opened new premises in Perth and London to better
and further African experience for the division. solution support clients where their major regional headquarters are
of Canadian-based geochemical laboratory services,
located.
MSALABS. This gave the company access to a global
network of assay laboratories and capability to provide on- Capital has a long history of successfully expanding the
site laboratories for mining operations. MSALABS provides a services it offers to clients. The company has a culture of
complete range of geochemical analysis for both exploration ensuring professional execution and service delivery and it
and mining projects. is these high standards that have driven many of Capital’s
service extensions, often at their client’s request. It is also
As the company looks to further expand into complimentary
these high standards that will see the continued success
services, including broadening their mine-site based
of the company in its next phase as Capital Limited, a
service offer, it established MSM in 2019 to provide asset
complete mining services provider.
maintenance and labour hire, together with specialist mining
supplies.
Additionally, Well Force International complements
exploration drilling projects with a complete range of survey
and core orientation tool rental solutions, on-site surveying www.capdrill.com
and geophysical logging services, and HiTT, a unique
software solution for borehole management. [email protected]

COST SAVINGS


VISIBILITY

OPTIMISATION




Johannesburg-based Nucleus Mining & Africa Logistics
is celebrating its 15th anniversary in 2019. From humble
beginnings, the company has grown organically to become
one of the most recognised and respected logistical
solutions providers on the African continent. Since day For chief executive Iain Clark, Nucleus has won respect and While Nucleus has traditionally focused on regions it knows well, the
one, the focus has always been on improving a customer’s recognition in the industry for maintaining a customer-first company welcomes all opportunities to expand its presence into new
competitive edge and their bottom line by continuously approach over the past 15 years, particular in more recent jurisdictions and its capabilities to new customers.
times when construction and development costs have been
“It’s about engaging with the right people in the right areas and where
adding value wherever possible. heavily scrutinised. we don’t have our own people we have got very good partners who
“We’re still a medium-sized business, but we compete in the market we can work with,” Clark said.
with the multinationals for projects, which is a real feather in our cap “That’s the key to working in Africa, making sure that you have the
that people see us in the same category as those huge multinationals,” right people on the ground to give you the relevant feedback on any
Clark said. potential changes to requirements for importation, for example.
“There are a number of benefits in dealing with a business of our size. “Over the last 18 months, we’ve probably become a lot more reliant
We are lucky enough that we can make decisions immediately and we on modern technology in terms of warehousing systems and track-
don’t have to go through board meetings to get decisions on what we ing interfaces for our customers. We’ve really stepped up our IT side
can and can’t do. We are still an owner-managed business. which I think is a really important part of where logistics is going.”
“We engage at all levels with our customers through having open dis- If there is one thing which Clark looks back on with more fondness
cussions. We like to work very closely with our customers in terms than anything else from the last 15 years it is the fact Nucleus has es-
of both pricing and strategy. We don’t have a fixed formula. How we sentially grown from “word of mouth”.
put our operations together is based purely on individual projects and “Often the suppliers and service providers to the mines we deal with
what their needs are.” come back to us and ask if we can help them in other areas,” Clark said.
While headquartered in South Africa, Nucleus has offices in Zambia, “We have had mostly organic growth from the mines we deal with
Mozambique and the DRC where the majority of its business come where out of 50 different suppliers, many of them come back to us
from. The company specialises in offering logistics solutions services seeking help with logistics into Tanzania or elsewhere. I see that as be-
for both the construction and operational aspects of a mine. ing quite a positive outcome for our business.
Earlier this year, Nucleus signed off on a full logistics programme for “We still very much believe in personal relationships. Africa is a big
the construction of Alphamin Resources Corp’s Bisie tin mine, north- place and there are many big multinational mining companies and ser-
eastern DRC. Finalisation of this contract took place while the country vice providers that operate there, many of whom operate in multiple
was undergoing major changes in government, including the election regions and projects. Nucleus offers high service levels and cost effec-
of a new president. tive logistics solutions.
Clark believes the contract was not impacted by the elections due to “Our business has grown substantially by word of mouth and industry
the ground work his company has put in place over several years. recommendations and we’re very proud of that.”
“In many African countries, the lay of the land changes constantly and
you’ve got to be aware of these situations and how they could poten-
tially affect you and your clients,” Clark said.
“We always strive to be ahead of the game. We get involved with pro-
jects sometimes 2-3 years before we start moving anything in country.
That’s why we try to work with our clients to understand their lo-
gistics needs right from day one when they’re still doing exploration
drilling out of small camps.
“So, by the time we’re moving thousands of tonnes into a particular
area, we’ve got the whole route planned, we know the area, we know
who the contacts are in the region and we even have our own logistics
manager out on the ground as well.”
Exposure to a number of logistics projects in key markets appears to Contact us
have prepared Nucleus for what has already been a busy year to date.
On top of completing work at Bisie, the company has been pressing
ahead with long-term project contracts and operational mines in the Stand 208B, Corner Malibongwe Drive
DRC and moving operational loads into Mozambique via the Balama and Ebsom Ave, Boundary Park, Northriding,
graphite mine where required. Johannesburg
Tel +27 (0)11 0281181
Clark is optimistic the company will add further projects to its broad Email [email protected]
scope of work over the coming months as sentiment continues to re-
turn to the African resources sector, especially from a construction www.nucleusml.co.za
perspective.

COST SAVINGS


VISIBILITY

OPTIMISATION




Johannesburg-based Nucleus Mining & Africa Logistics
is celebrating its 15th anniversary in 2019. From humble
beginnings, the company has grown organically to become
one of the most recognised and respected logistical
solutions providers on the African continent. Since day For chief executive Iain Clark, Nucleus has won respect and While Nucleus has traditionally focused on regions it knows well, the
one, the focus has always been on improving a customer’s recognition in the industry for maintaining a customer-first company welcomes all opportunities to expand its presence into new
approach over the past 15 years, particular in more recent jurisdictions and its capabilities to new customers.
competitive edge and their bottom line by continuously times when construction and development costs have been “It’s about engaging with the right people in the right areas and where
adding value wherever possible. heavily scrutinised. we don’t have our own people we have got very good partners who

“We’re still a medium-sized business, but we compete in the market we can work with,” Clark said.
with the multinationals for projects, which is a real feather in our cap “That’s the key to working in Africa, making sure that you have the
that people see us in the same category as those huge multinationals,” right people on the ground to give you the relevant feedback on any
Clark said. potential changes to requirements for importation, for example.
“There are a number of benefits in dealing with a business of our size. “Over the last 18 months, we’ve probably become a lot more reliant
We are lucky enough that we can make decisions immediately and we on modern technology in terms of warehousing systems and track-
don’t have to go through board meetings to get decisions on what we ing interfaces for our customers. We’ve really stepped up our IT side
can and can’t do. We are still an owner-managed business. which I think is a really important part of where logistics is going.”
“We engage at all levels with our customers through having open dis- If there is one thing which Clark looks back on with more fondness
cussions. We like to work very closely with our customers in terms than anything else from the last 15 years it is the fact Nucleus has es-
of both pricing and strategy. We don’t have a fixed formula. How we sentially grown from “word of mouth”.
put our operations together is based purely on individual projects and “Often the suppliers and service providers to the mines we deal with
what their needs are.” come back to us and ask if we can help them in other areas,” Clark said.
While headquartered in South Africa, Nucleus has offices in Zambia, “We have had mostly organic growth from the mines we deal with
Mozambique and the DRC where the majority of its business come where out of 50 different suppliers, many of them come back to us
from. The company specialises in offering logistics solutions services seeking help with logistics into Tanzania or elsewhere. I see that as be-
for both the construction and operational aspects of a mine. ing quite a positive outcome for our business.
Earlier this year, Nucleus signed off on a full logistics programme for “We still very much believe in personal relationships. Africa is a big
the construction of Alphamin Resources Corp’s Bisie tin mine, north- place and there are many big multinational mining companies and ser-
eastern DRC. Finalisation of this contract took place while the country vice providers that operate there, many of whom operate in multiple
was undergoing major changes in government, including the election regions and projects. Nucleus offers high service levels and cost effec-
of a new president. tive logistics solutions.
Clark believes the contract was not impacted by the elections due to “Our business has grown substantially by word of mouth and industry
the ground work his company has put in place over several years. recommendations and we’re very proud of that.”
“In many African countries, the lay of the land changes constantly and
you’ve got to be aware of these situations and how they could poten-
tially affect you and your clients,” Clark said.
“We always strive to be ahead of the game. We get involved with pro-
jects sometimes 2-3 years before we start moving anything in country.
That’s why we try to work with our clients to understand their lo-
gistics needs right from day one when they’re still doing exploration
drilling out of small camps.
“So, by the time we’re moving thousands of tonnes into a particular
area, we’ve got the whole route planned, we know the area, we know
who the contacts are in the region and we even have our own logistics
manager out on the ground as well.”
Exposure to a number of logistics projects in key markets appears to Contact us
have prepared Nucleus for what has already been a busy year to date.
On top of completing work at Bisie, the company has been pressing
ahead with long-term project contracts and operational mines in the Stand 208B, Corner Malibongwe Drive
DRC and moving operational loads into Mozambique via the Balama and Ebsom Ave, Boundary Park, Northriding,
graphite mine where required. Johannesburg
Tel +27 (0)11 0281181
Clark is optimistic the company will add further projects to its broad Email [email protected]
scope of work over the coming months as sentiment continues to re-
turn to the African resources sector, especially from a construction www.nucleusml.co.za
perspective.

Auteco nests on 1 moz



at Pickle Crow





Rather than dwell on a subdued response to the announcement of an inferred resource of
1 moz @ 11.3 g/t gold at the Pickle Crow project in the Uchi sub province of Ontario, Canada,
Auteco Minerals Ltd has forged ahead with a substantially expanded drilling programme
across the property.

“We’ve upped the drilling from 10,000m to 45,000m,
which we’re pretty happy about,” Auteco executive
chairman Ray Shorrocks said.
Despite a buoyant gold sector and a healthy appetite from
investors to back explorers, there are few companies in the
smaller end of town with the ability to act as decisively as
Auteco has in this instance.
In early July, Auteco’s $30.4 million placement at 13.5c/
share was done on the back of a maiden resource of
830,000oz gold @ 11.6 g/t.
“From our point of view, this raising has really shaped our
register and given us strength of capital to chase this asset
wholeheartedly,” Shorrocks said at the time.
The company has stayed true to its word with the beefed-
up drilling programme geared towards delivering another
resource upgrade at Pickle Crow in the first half of 2021.
Therefore, Auteco has two diamond drill rigs operating at
Pickle Crow, with a third mobilising this month with a total of
Ray Shorrocks



Auteco Minerals Ltd ASX:AUT Resource drilling highlights from Pickle Crow
Address: Suite 3, Level 3, 24 Outram Street, 10.7m @ 50.9 g/t from 5.49m
West Perth WA 6005 1.1m @ 150 g/t from 156.5m
Email: [email protected] 1.7m @ 55.5 g/t from 91.29m
Phone: +61 (8) 9220 9030 6.9m @ 17.7 g/t from 1.83m
1.2m @ 103.4 g/t from 20.24m
LinkedIn: Auteco Minerals Limited 1.5m @ 444.4 g/t from 22.65m
Twitter: @AutecoMinerals (includes 0.5 m @ 1,325.7 g/t from 23.65m)
Facebook: Auteco Minerals 2m @ 69.1 g/t from 23.7m
Market cap: $266 million 0.9m @ 878.7 g/t from 65.89m
Share price: 17c/share 9.9m @ 12.9 g/t from 66.2m
Key people: Ray Shorrocks (Executive Chairman), 2.6m @ 78.8 g/t from 37.08m
Sam Brooks (Executive Technical Director), Steve Parsons 1.2m @ 79.5 g/t from 104.8m
(Non-executive Director), Michael Naylor (Non-executive 2.2m @ 37.6 g/t from 117.43m
director), Nick Katris (Company Secretary),
Marcus Harden (Chief Geologist) Drilling highlights beyond the Pickle Crow
resource
Projects:
0.6m @ 99.4 g/t from 167.4m
Pickle Crow gold project (including 0.3m @ 181 g/t from 167.4m)
Uchi sub province of Ontario, Canada 1.6m @ 25.8 g/t from 95m
Limestone Well vanadium project (including 0.6m @ 65.2 g/t from 95.7m)
Murchison, Western Australia 1.6m @ 19.6 g/t from 372m
3m @ 7.37 g/t from 261m



Page 62 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT

19 holes for 4,400m completed at the time of print. Pure Gold Mining Inc’s Madsen (2.6 moz @ 8.9 g/t) and First
Historical production of 1.5 moz @ 16 g/t gold gives Pickle Mining Gold Corp’s Springpole project (4.67 moz @ 1.04 g/t
Crow the status of being one of Canada’s highest grade indicated).
mines and the fast-pace nature in which Auteco has It is little wonder to Auteco that with a steely focus at Pickle
delivered a maiden resource (June 2020) and followed Crow, it is unearthing high-grade mineralisation in a number
up with a 20% increase in resources since suggests the of areas up to 250m outside the 1 moz gold resource
company has a grip on the geology. recently confirmed.
“Our results speak to the quality of the asset in addition to Such targets and other walk-up opportunities will be drilled
its size. This reconnaissance drilling in the Core Mine Trend this year as step-out drilling at Pickle Crow continued at the
has resulted in what looks like multiple, near surface, high- time of print.
grade early stage discoveries within a few hundred metres With winter approaching, Shorrocks said that would do little
of the current mine infrastructure,” Shorrocks said. to slow Auteco’s momentum.
“A lot of people don’t realise that our focus has been on “They [drillers] prefer winter because the ground is much
getting geological confidence around that headframe and more solid when it’s frozen over. Sometimes you can get
the old mine infrastructure and then slowly stepping out 2m of snow out there, but they are used to those conditions
from there. We have brownfields opportunities outside of and put the graders to good use,” Shorrocks said.
this area and then the regional play outside that, which is a “Even COVID hasn’t had much of an impact on us, of
pretty exciting time for us.”
course it has slowed a few things down like getting crews
Results from drilling within the Core Mine Trend have in from different areas and there are a lot more checks and
returned abundant visible gold and assays grading up to balances to achieve but our 24-man camp has adapted well
137.3 g/t, giving Auteco the belief that its geological ideas to all the protocols that need to be adhered to.”
and open-minded approach to evaluating old datasets
through the lens of traditional geological principles is the
playbook for Pickle Crow.
The latest resource update at Pickle Crow included drilling
done by Auteco plus historical information collated by the
company.
Pickle Crow has been bereft of any modern-day exploration
since it closed in 1966 even though there has been great
successes in the district by the likes of Evolution Mining
Ltd’s Red Lake (historic production of 25 moz gold @ plus-
20 g/t), Newmont Mining Corp’s Musselwhite (5.7 moz),






























Auteco is earning into Pickle Crow via a two-stage process where
initially it can own a 51% in the project from First Mining Gold Corp.
Auteco can take its interest to 70% through a buy-in option and
acquire a further 10% in the future, subject to conditions.






autecominerals.com.au

Time to #Believe:



Bellevue sets



the PACE Steve Parsons




























Few companies have asserted
themselves the way Bellevue Gold
Ltd has in the past three years.









Coming to market with the hope of reviving a forgotten about gold project in Work on the decline, preliminary surface infrastructure plus mining studies
Western Australia’s Leinster region, the company’s dream is quickly becoming and continued exploration to grow the current 2.3 moz @ 10 g/t gold resource
reality as first gold from the Bellevue gold project is in sight in 2022. at Bellevue, are part of the early-stage work programme designed to help the
Significantly, specialist underground mining contractor GBF Mining and Industrial company achieve production as quick as commercially possible.
Services Pty Ltd from the Macmahon Holdings Ltd stable, started Stage 1 works at A feasibility study on Bellevue is on track for completion late this year/early 2021,
Bellevue recently. as the company aims to keep pace with its discovery success on the back of over
Early works by GBF are centred around construction of a new portal which will open 240,000m of diamond drilling completed so far.
the way for access to historical underground workings and link up with the existing It is fair to say that the company’s strike rate of 75,000 oz gold discovered on
decline. a monthly basis at $18/oz since 2017 has borne a decent amount of fruit for
Underground activities will be made somewhat easier by the 28km of development shareholders who are revelling in Bellevue’s $1.02c/share price and market cap of
left behind when the mine was closed in 1997 after 800,000oz gold @ 15 g/t was $865 million.
produced. In Western Australia’s second biggest gold mining district outside of Kalgoorlie, the
Re-establishing the existing decline for mechanised use at Bellevue means that sky appears the limit for what could unfold across Bellevue’s 3,500sq km of ground
underground drilling platforms can be created allowing for accelerated infill and in Leinster.
exploration drilling Given that others had discounted the potential of the property when it closed
Completing such work now helps reduce costs ahead of an intended low capital- over 20 years ago, the ability of the current owners to find gold at a quick rate
intensive restart at Bellevue, with the refurbishment of the existing decline to be indicates the confidence and philosophies driving Bellevue’s success are a winning
used for future exploration and haulage. combination.


Page 38 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT

Bellevue Gold Ltd (ASX:BGL) Key people:


Share price: $1.02 Steve Parsons (managing director),
Michael Naylor (executive director/company secretary),
Market cap: $865 million
Sam Brooks (chief geologist),
Address: Suite 3, Level 3, 24 Outram St West Perth, WA, 6005 Kevin Tomlinson (independent non-executive chairman),
Craig Jones (chief operating officer),
Phone: +61 (8) 6424 8077
Fiona Robertson (non-executive director),
Email: [email protected] Shannon Coates (non-executive director),
LinkedIn: @bellevuegold Luke Gleeson (head of corporate development),
Daina Del Borrello (GM people and company culture)
Facebook: @bellevuegold
Twitter: @bellevuegold




“One of the programs that has proved dear to us at the moment is at the
Leonora high school. The high school principal said that attendance was at such
a low rate and indicated that food was a problem. Therefore, we’ve started
providing lunch for the school which has seen attendance rates increase and
kids are getting an education. The program with the Leonora High School aligns
directly with everyone of our PACE core values”
Now more than ever, mining companies are being held to high account for the
impact they have on the surrounding communities and environment, factors
Parsons and the Bellevue team are warmly embracing.
While the questions are being asked on the ground, having completed a $100
million equity raising and $35 million share placement this year, Parsons is fully
aware of the expectations within the global investment community as well.
“ESG is the new paradigm in investing. Ten years ago, you’d say what does that
mean? I am telling you now it is super important. Every investor globally wants
to know what your policies are, what you have in place,” he said.
“Climate, community, corporate governance, environment are all super
important and the thing about Bellevue is that we have a clean slate. We are on
granted mining licences for an underground development and we are looking at
a whole bunch of options to make sure we get it right.
“Of course these things take time and making sure we are on the right path to
having a low carbon footprint and environmental footprint in developing an
underground gold mine the best we possibly can,” he said.
Having consolidated its bank balance to be well funded with $151 million,
indicates Bellevue has ticked the right boxes for all stakeholders and investors
“The mine closed because of a fault that the nickel company [previous owners] along the chain thus far.
thought killed the mineralisation. Over the fault is where we hit 7m @ 27 g/t; The company’s cash will see it through the completion of feasibility studies
theories change as does science,” Bellevue managing director Steve Parsons said. and development activities for Bellevue to unlock the full potential of one of
“You have to sell yourself and your thoughts, have ownership of what you’re doing Australia’s great historical high-grade gold mines.
that is important.”
Empowerment within the wider Bellevue organisation, which boasts 40% woman
leadership at board level and 36% woman participation overall, went another level
earlier this year.
“We came up with our core values with what we see and what the staff see as what
is important; what they really want to take on board and where they want to see the
company go and we came up with PACE,” Parsons said.
“We thought this was quite appropriate given we are working at quiet a rapid pace
with our discovery and the pace of turning this into a mine.”
Passion, Accountability, Community, Excellence – PACE – is the acronym
representing Bellevue’s drive now and what will take it into the future as a gold
mining company.
“Given we work in Western Australia in remote communities, we need our
stakeholders on side and support from them, so we like to support the community
as much as we can. There is a whole bunch of things we are doing at the moment
that we are very proud of,” Parsons said.

Market ready to sample


new MinAnalytical innovation






ten years after establishing itself as a leading player in
the assaying services industry MinAnalytical is heading
into its second decade as a pioneer in industry innovation
and technology while continuing to provide traditional
assaying services and excellent customer service.

Since its inception in October 2010, immensely from having the weight of
MinAnalytical has focused on delivering the entire Perenti group behind them.
clients the essentials of lab analysis; “It is a huge advantage for MinAnalytical,”
prompt, reliable, high-quality services James says. “It provides not only the
which can be trusted. Added to that balance sheet to support the business
mix is a commitment to innovation and but the customer base within the group MinAnAlyticAl
the support network of the large global – whether through Barminco, Ausdrill,
mining services company which African Mining Services or African A Perenti Global Ltd company,
created it. Underground Mining Services – and the MinAnalytical offers a
“Starting a new lab from a clean reputation to leverage from.” comprehensive range of
geochemical and precious
canvas with a healthy budget from a The ensuing decade has seen metal analyses to the mineral
strong parent company was fantastic,” MinAnalytical expand its presence in the exploration and mining
MinAnalytical’s Business Development Australian market where the company industry
Manager Gary Wheeler says. has developed a loyal client base. Addresses:
Having Perenti as its parent company “These are clients who have been with 50 Baile Rd, Canning Vale WA 6155
delivered MinAnalytical an immediate us for the whole journey and trust us,” 43 Great Eastern Hwy, Kalgoorlie WA
flying start and the company quickly Wheeler says. 6430
established itself by leveraging Perenti’s Tel: +61 8 6258 9600
international network of businesses to An emphasis on client relationships Email:
deliver additional value for clients in runs deep throughout Perenti – one of [email protected]
terms of add on services. its five core principles is “Walk in their Key personnel: teresa Soanes
shoes” – and the experience within the (General Manager) Gary Wheeler
According to Perenti – Investments MinAnalytical team offers them a unique
Chief Executive Officer Donald insight into client needs. (Business Development Manager)
James, MinAnalytical’s clients benefit


Page 56 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT

“It is a huge advantage for MinAnalytical,” James says.
“It provides not only the balance sheet to support the
business but the customer base within the group –
whether through Barminco, Ausdrill, African Mining
Services or African Underground Mining Services –
and the reputation to leverage from.”





Having started its existence with a enhance client outcomes in ways not
focus on doing the simple things possible with fire assay. It allows us
well, MinAnalytical is now confident to provide reliable information faster
of expanding its capabilities. Like and with cleaner safer outcomes. It
other companies in the wider Perenti is an opportunity to better integrate
group, MinAnalytical is committed to ourselves with clients by enhancing
technological innovation – Enabling their value creation.”
tomorrow is another of the company’s Trust will again be vital to clients’
core principles – and is delivering what adoption of the new technology.
it believes is a step-change in gold Since securing National Association
assay analysis techniques.
of Testing Authorities (NATA)
The Chrysos PhotonAssay technology accreditation in 2018 for PhotonAssay,
– originally developed by CSIRO MinAnalytical has spent two years
“We have to really know our clients, and brought to market by Chrysos familiarising clients with the assaying
not just who they are and what they’re Corporation – is a chemistry-free technique and its capabilities.
asking for, but what really matters to approach to gold assaying, offering a “With NATA accreditation we ensure
them,” MinAnalytical General Manager faster, safer and more environmentally- the quality of the process is spot
Teresa Soanes says. “At MinAnalytical friendly alternative to the conventional on and clients can understand the
we have a dedicated group of fire assay techniques. MinAnalytical decisions and processes. We make sure
professionals who have been with us and Chrysos have been refining the we maintain high standards,” Soanes
from the beginning. People like Dave technology for the last three years says. “Our clients are trialling our new
Martin (production manager), John across a variety of sample types and technology and are transitioning across
McGrath (commercial manager), Daryl particle sizes. The new technique to it when they’re comfortable in the
Harris (chief fire assayer), Thomas Dass has ultimately proved quicker, more absolute certainty of the quality of their
(senior laboratory technician) and reliable and as accurate as fire assaying results.
Gavin D’monte (spectroscopist) are but without the toxic waste. MinAnalytical’s investment in
an integral part of our business and James sees PhotonAssay as a vital part PhotonAssay and other innovations
have helped us develop the business of the group’s push to provide end- gives it a leading position in a new
into the successful, industry leader it is to-end services to clients through the generation of mineral analysis. After
today. That is a real advantage when mining cycle with the new technology building its reputation over 10 years, it
clients need someone they can trust to coexisting with the traditional suite is a role the team are ready to take.
help them on their journey. They can of services that MinAnalytical already
call us anytime, from anywhere, and offers. “We are taking a significant position
know we are happy to help.” “We aspire to be indispensable to our in the future of assaying as a leader
clients’ by delivering and innovator rather than a follower
enduring value and our clients will be the greatest
and certainty,” beneficiaries of that,” Soanes says.
James says. “Fire
assaying has been
the established
process for 500
years, and there is
still a purpose for
it, but we believe
PhotonAssay can

A world first:









Changing materials



for the better












What is PureGRAPH ?
®

First Graphene offers a range of high-quality
graphene nanoplatelet products under the
PureGRAPH® brand name. These products are
characterised by their large platelet size, high aspect It might have been perceived as a bold statement at the
ratio, low defect levels and are free of metallic
contaminants. time, but First Graphene Ltd’s early crow as the “world’s
This combination of features is possible due to leading graphene company” is holding court.
First Graphene’s game-changing manufacturing
processes. Strict controls ensure an optimised Despite some of the well-documented challenges brought about by the global
product with consistent characteristics and COVID-19 pandemic, First Graphene has continued to push the boundaries
repeatable results in every batch. in its bid to be recognised as the world’s leading supplier of high-performing
graphene products.
PureGRAPH® powders are easy to use and disperse Almost three years of hard work to establish that reputation culminated in June
readily in a wide range of solvents, polymer resins, with the company being accepted as an associate member of the prestigious EU
elastomers and water-based formulations and Graphene Flagship which comprises 170 research groups across 21 countries
each product shipment is quality assured with a and has an estimated budget of €1 billion.
certificate of analysis. First Graphene, through its UK subsidiary, is the first Australian entity to be
Three PureGRAPH® admitted to the consortium which is overseen by the Chalmers University of
graphene powders are Technology in Gothenburg, Sweden.
available in average In the past year First Graphene took giant strides towards confirming its
platelet sizes of 20µm, position as the world’s largest manufacturer of graphene products, including
10µm and 5µm with development of the trademarked PureGRAPH® graphene powders which are
tightly controlled platelet manufactured exclusively out of its 100 tpa commercial facility in the industrial
geometries. suburb of Henderson.
With those manufacturing capabilities now established, the company is looking
to further spread its wings and promote its brand within the broader industry,
as First Graphene managing director Craig McGuckin explains.
“Even when we deal with companies that come through our factory – and
some of the big mining companies do come through occasionally out of interest
– they’re surprised to discover that First Graphene has such an advanced
production facility located here in Perth, Australia,” McGuckin says.
“We branded ourselves the world’s leading graphene company, it was quite
a bold statement we made some years ago, but we’ve certainly worked our
firstgraphene.net way into that mantle in terms of being able to manufacture large quantities
of consistent quality graphene at a price that the industry can accommodate.
Graphene is the enabler to make most things better.
“Now we’re really wanting to step up and let the industry know we exist. We’re
here and available and open for business.”
Page 68 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT

Why graphene?

First isolated and characterised by professors Andre Geim
and Konstantin Novoselov from the University of Manchester in
2004, graphene is a tightly packed layer of carbon atoms bonded
together in a hexagonal honeycomb lattice.
At just one atom in thickness, graphene is the thinnest material
known. It is 200 times stronger than steel, has an electrical
conductivity one million times that of copper and outperforms
diamond in terms of its thermal conductivity.
Graphene has a surface area even larger than that of the activated
carbon used to coat the plates of traditional supercapacitors,
enabling better electrostatic charge storage. Graphene-based
supercapacitors can store almost as much energy as lithium-ion
batteries, charge and discharge in seconds and maintain these
properties through tens of thousands of charging cycles.
In addition, graphene-based supercapacitors are lighter, more
deformable and can be stronger than their counterparts based on
activated carbon.


Promotion of the company’s strategy is just one aspect of what
is shaping as a busy year ahead for First Graphene with the team
also putting a priority on bedding down a number of promising
sales contracts.
In the last six months the company has signed separate supply
agreements with planarTECH (Holdings) Ltd and Aquatic Leisure “We’ve concentrated on the large potential usage areas like the
Technologies for 1 mtpa and 2.5 mtpa of PureGRAPH® powders, polyurethanes, the thermoplastics, the glass composites, rubbers,
respectively. concrete where you can get multiple tonnage contracts because that’s
Both contracts came on the back of First Graphene announcing it had entered what will ultimately turn you into a business that makes money.
into a landmark partnership with prolific work boot brand Steel Blue last “So, yes, there has been some fatigue, but you have to remember that
November. First Graphene has only seriously been making graphene for 2.5 years in
“COVID has naturally delayed some of these sales programmes, however, Henderson and probably even less than that in tonnage quantities.”
sales agreements have been signed and will eventuate in the latter end of this First Graphene remains a Tier 1 partner of the Graphene Engineering &
year,” McGuckin says. Innovation Centre in Manchester, UK, where most of the company’s high-
“Steel Blue will be bringing out a PureGRAPH® branded boot later in the year, end science and R&D is carried out.
something that will be a huge step change in safety boot wear. Probably the McGuckin believes it is only be a matter of time before the company’s
first one will introduce our graphene in the scuff cap and then it will work its product offering becomes the first-choice selection for the diverse range
way into the sole and into the metatarsal guard and then eventually maybe of industries it can service.
into a composite cap to replace the steel cap which we think will lighten the “We’ve put ourselves up there with probably three other companies in the
boot up by around 250g.” world for graphene manufacture and that’s something we should be very
First Graphene continues to evaluate opportunities to optimise the use of proud of, especially in this climate where everyone is talking about the
graphene in a range of composites, elastomers and rubbers and, in more importance of local manufacture and supporting manufacture which is
recent times, concrete. Australian made,” he says.
The company confirmed via a technical paper in August that graphene “It’s also worth pointing out that we don’t see the Henderson facility as
additives improve strength, reduce materials usage and potentially increase being the end point; we strongly believe this is just the starting point
longevity of some cement grouts and concrete. because we have proof of concept of large scale production here at
Last month the company also reported that successful laboratory and Henderson that we believe will lead into future factories than can do
commercial-scale testing supported the integration of PureGRAPH® in the thousands of tonnes.
rubber compounds of mining screen media and wear-liner materials. Futures “We don’t see any reason why a factory of the future won’t have the
testing will look at improved dispersion and fire-retardancy aspects. capacity to do 1,000 tpa or even 10,000 tpa.”
First Graphene’s achievements come at a time when graphene is anything
but the flavour of the month. While McGuckin acknowledged that interest in
the sector has waned somewhat, he highlighted that there was still plenty of
support from investors who have closely followed graphene’s development in
recent years. First Graphene Ltd (ASX: FGR)
“Considering it was only first isolated in 2004 and there’s been close to €1 1 Sepia Close, Henderson WA 6166 +61 1300 660 448
billion spent in the UK and EU with the graphene flagship, to say there’s been a
fatigue coming into the marketplace would be fair, but that’s not unusual with Web: www.firstgraphene.net Email: [email protected]
a new product,” McGuckin says. Twitter: @First_Graphene
“It’s important to remember that there are many types of graphene and one Key people: Warwick Grigor (non-executive chairman), Craig
type of graphene won’t do everything, so you have to be mindful of that. What McGuckin (managing director), Peter Youd (executive director, chief
we’ve been concentrating on is areas of large usage. There’s no point just financial officer & company secretary), Dr Andy Goodwin (senior
concentrating on sensors, for instance, because 1kg will do 500,000 sensors scientific advisor & non-executive director), Paul Ladislaus (chief
and there’s no business model in that. technology officer), Neil Armstrong (senior process manager)

STEINERT



sorts out




industry



success

























There is currently nothing History would suggest the most successful ore sorting operations
hotter in mining circles than over the years have been tied to the base metals sector and one of
the best-known case studies on record is leading nickel producer
gold and iron ore - a fact Western Areas Ltd.

not lost on the team at Western Areas used revolutionary ore sorting technology from STEINERT
STEINERT Australia. to convert 170,000t of previously disregarded material into low-cost feed
for processing at its Forrestania nickel operations.
Since then a number of other base metals companies have followed suite
and deployed STEINERT ore sorting machines. Therefore, it is no surprise
that several gold and iron ore players are lining up for the chance to see
whether the value of their projects can be boosted through an investment
in ore sorting.
Pantoro Ltd successfully pioneered ore sorting for gold producers two
years ago when the unheralded miner installed a STEINERT ore sorter as
part of a processing plant upgrade at its Nicolsons mine.
With the price of gold trading at unprecedented levels, other producers
are keen to get in on the action, according to STEINERT Australia managing
director Johan van Zyl.
“We have done well in excess of 100 individual trials for different
companies over the last year or so and the vast majority of those were for
gold producers,” van Zyl says.
“Because the gold price is so high, a lot of people are now investigating
what technologies are out there to ensure their projects are more robust
when it comes to leaner times. We certainly think there’s a benefit for the
gold producers to look into using ore sorters, regardless of the point in the
commodity cycle.”
Another gold company which has recognised the benefits of ore sorting
is Novo Resources Corp. The Canadian-based explorers have purchased a
www.steinert.com.au 1m wide STEINERT KSS | XT CLI sensor sorter for upcoming field trials at
the Purdy’s Reward, Comet Well and 47K concessions in the Pilbara.


Page 44 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT

The machine is being manufactured in Cologne, Germany and
remains on track for delivery to site before the end of the year.
Novo captured the market’s imagination in late 2017 with its
discovery of a potential conglomerate-style deposit just outside
of Karratha.
“The orebody spans over vast areas, it’s not concentrated in one
deep pocket where you can just go and mine in one space, even
though, as far as I understand, it’s not very deep underground,”
van Zyl said.
“It’s not an exceptionally high-grade area either, but it’s easy to
get to and you can easily recover the gold nuggets with an ore
sorter. ore sorting into their flowsheets, often at the request of
“STEINERT are incredibly excited about this opportunity. I end-users,” van Zyl said.
believe Novo’s plan is to run the ore sorter for 12-18 months and
then look to further expanding their infrastructure.” “There’s also a couple of small engineering companies who are
now specialising in building ore sorting plants, so that’s quite a
The resurgence of the iron ore price has also spilled over to big change in ideology from a couple of years ago.”
STEINERT with two of the company’s ore sorting machines
selected to play a key role in the processing of existing iron ore
stockpiles at the Frances Creek mining centre, about 250km
south of Darwin, Northern Territory. Gideon van Wyk (WA Regional Manager) will be
It is the first time STEINERT ore sorters have been contracted to STEINERT Australia’s representative at Diggers & Dealers.
a commercial iron ore operation in Australia. Please contact Gideon on +61 488 900 450 or
“This is a totally dry process, different to any other iron ore [email protected] to arrange a meeting
if in Kalgoorlie.
operation in the country, being that it is the only one using ore
sorters to commercially produce iron ore,” van Zyl says. Non-attending delegates are encouraged to contact
Peter Fenby (Senior Business Development Mining)
“What makes this really interesting is that up until now most on +61 417 437 230 or [email protected] or
of the successful operations using ore sorting has always been Johan van Zyl (Managing Director) on +61 400 987 860
high-value base metal operations. It’s a really exciting time for or [email protected]
all concerned.
“I think over the longer term there will be a lot of iron ore
producers that keep an eye on that project to see how it’s going. AbouT STEINERT AuSTRAlIA
We’ve done trials in the past with the large consortiums, but With a rich history dating back 130 years, this German family-
they always felt ore sorters didn’t quite have the throughputs owned business is a world leader in sensor sorting technology
required to make it commercially viable. Now that it’s been and magnetic separation for the mining, waste and recycling
proven, it will be interesting to see if they come back for another sectors.
STEINERT’s Australian headquarters and manufacturing facility
look.” in Melbourne, Victoria and test facility in Bibra Lake, Perth bring
STEINERT has also been contracted to supply all the dry drum cutting-edge technology to the Australian market. Our team of
and dewatering drum magnetic separators for Fortescue experts in mining, waste and resource recovery work alongside
Metals Group Ltd’s Iron Bridge project in WA. It is the largest specialist service engineers to support you in a rapidly changing
order the company’s Australian division has ever received. industry.
Our extended capabilities include the supply of products and the
Growing interest in ore sorting opportunities prompted customer service in Australia for Allmineral, specialising in gravity
STEINERT to establish a second Australian office and testing separation using wet/dry jigging and classification technology.
facility in the Perth suburb of Bibra Lake early last year. For more information please go to www.steinert.com.au
“We have invested a significant amount of money into
growing our service capability locally in Australia,” van Zyl
says. “We are now fully operational and independent
from our parent company in Germany, as far as our
test plants and R&D is concerned.”
While the uptake of ore sorters has been slower than
van Zyl would have liked – notwithstanding the
challenges of operating through a global health
pandemic – he believes interest in the technology
is as strong as ever.
“In the last 18 months to two years, we’ve seen
more engineering houses starting to incorporate


aUSTRaLIa’S PaYDIRT OCTOBeR 2020 Page 45

Proudly taking




Australian




precious metals




to the world for




120 years









Through our trusted products and services we develop the

markets and create the demand for Australian precious metals. 

From refining and assaying Australian gold to manufacturing

bullion bars and coins, and offering secure storage solutions
and innovative digital gold platforms, we’re making gold and
silver accessible assets to own.








The Perth Mint



- Refined to perfection











A sponsor of the

Diggers & Dealers Mining Forum for 20 years.





perthmint.com/refine




Page 50 OCTOBeR 2020 aUSTRaLIa’S PaYDIRT




MINT0128B-DPS_420x297mm Perth Mint DiggersDealers col press.indd 1 7/6/19 1:34 pm

After more than two decades in the gold “In addition to refining “At the moment, I think WA is the flag bearer for
refining business, The Perth Mint general services, we produce the gold industry and what it actually does for
communities. Taking iron ore out of it, where
an extensive range
Proudly taking continues to see things like never before. coins, and offer various Backed by a successful 120-year history, The
would WA be without gold?”
of bullion bars and
manager refining Nathan Edwards
investment options
Perth Mint’s standing as a trusted refiner is well
including gold-backed
established, which Edwards says is an advantage
exchange traded
Australian “I have seen a lot of cycles from when gold was products listed on the ASX and NYSE, depository of being aligned with the State Government.
He said that being government-owned alleviated
$US250/oz in the early 2000s through to now.
accounts and a digital trading app, GoldPass, each
some of the financial strains other refiners
allowing people to buy gold as a store of wealth,”
I don’t think we conceived that the gold price
around the world have faced in the past.
Edwards said.
would be sitting at almost $US2,000/oz,” Edwards
precious metals said. In the scheme of the precious metals sector, gold “You need to manage your metal properly as it
is no different to a gold mine where you must
A buoyant gold price has sparked widespread
is regarded as the ultimate safe-haven asset and
understand how much metal is going in and how
preferred to the oft-overlooked silver.
activity across the entire gold chain, of which The
much metal is going out; you can’t lose any of
Perth Mint’s refinery is an integral link.
History indicates that when the gold price runs,
that metal,” Edwards said.
to the world for Gold from Alaska, Africa to outback Western the silver price follows on the upward trajectory “Assay integrity is imperative, which also goes
and while that is the case now, there was a lag in
Australia is refined at The Perth Mint and while
back to our government guarantee. A lot of our
household gold heavyweights are clients of
positive sentiment towards the latter in the latest
clients aren’t diversified miners so all of their cash
the State-owned establishment, the current
bull-run.
flow goes through our refinery. That means we
environment is seeing a raft of new source feed
120 years supplied to the refinery. “Our gold processing capacity is extensive so need to get it right because if assays aren’t on
we’ve recently embarked on expanding our silver
point, it can create a cash flow concern.
processing plant. While it has not yet translated
“Depending on the cycle, some miners may go
“If you look at it from that perspective, a refinery
into higher silver volumes coming through,
for lower grade dirt because it is more profitable
is a critical part of a mining company’s entire
to do so in times of high prices, but that doesn’t
silver so there is plenty of scope there for that to
necessarily translate into higher volumes from Australia has the largest known reserves of operation yet people don’t often think of it in
that way.
our existing customers,” Edwards said. increase,” Edwards said.
“What it does mean is that there are a number “Most of the supply at the moment is generated “The Perth Mint is the only Australian refiner
Through our trusted products and services we develop the of junior operations starting up while others are as a by-product of concentrates and from mines accredited by the five commodity exchanges in
coming online, which is what happens when in north-west Queensland. Mines in south and London, New York, Shanghai, Tokyo and Dubai, so
markets and create the demand for Australian precious metals.  prices are sustained.” central America, particularly Mexico, are also big producers expect us to undergo rigorous testing
Regardless of price cycles, The Perth Mint miners of silver with their output going through of our standards each year so they can be assured
that we are giving them 100% return on their
From refining and assaying Australian gold to manufacturing refinery’s services thrive on producing a European or Australian smelters. We do get the metal,” he said.
bullion bars and coins, and offering secure storage solutions minimum 99.5% gold and 99.9% silver products product from them, but in terms of actual mined The Perth Mint’s sustained level of excellence
dore, our expectation is that silver prices need
that are tradeable in international markets, while
and innovative digital gold platforms, we’re making gold and the 99.5% and 99.9% 1kg and 400/oz gold bars are to be sustained for reserves to be mined. Once is maintain by adhering to its core values and
embracing technology and innovation to ensure
popular value-added investment products. there is price stability, we’ll probably see more
silver accessible assets to own. “The benefit of The Perth Mint is that we operate operations come to fruition.” its offerings are delivered with the utmost
attention to industry best practice and ensured
across the complete gold supply chain from mine Reinforcing its capabilities in silver refining will safety.
to market. enhance The Perth Mint’s growth aspirations as a
global refiner. While “keeping his cards close to his chest” as
to exactly what The Perth Mint is working on,
Unrivalled customer service and
business integrity are the pillars of Edwards said the last 2 to 3 years had seen
The Perth Mint, with the organisation automation practices widely explored at the
supremely aware of its obligation refinery.
to create and maintain its own “Ultimately, we want to see the entire process,
reputation as well as contribute to including the production of a finished gold
that of the entire Australian gold bar, boxed and bound for market, to be fully
industry. automated and handled only by robotics,”
Edwards said.
“Our services create income for
the State, jobs for more than 400 “The great thing about this advancement in
Western Australians, and we help manufacturing is that we have an engineering
to promote brand WA in the global team inhouse with the capabilities to create
community. these bespoke solutions.
“We are an integral part of the gold “With these greater efficiencies, we will reinforce
industry in this country, so if we are our prominent standing in the industry and
successful on the international stage continue to deliver a superior level of customer
A sponsor of the
then it is a positive outcome for the service and product quality that are second to
none.”
broader gold sector,” Edwards said.
Diggers & Dealers Mining Forum for 20 years.
The Perth Mint general manager refining Nathan Edwards
perthmint.com/refine
aUSTRaLIa’S PaYDIRT OCTOBeR 2020 Page 51
MINT0128B-DPS_420x297mm Perth Mint DiggersDealers col press.indd 1 7/6/19 1:34 pm

An ASX listing, an updated resource and the launch of
feasibility work; if everything goes to plan, Sarama Resources
Inc could become one of the West African gold stories of 2022
and beyond.




























Establishing



Burkina Faso’s

Sarama Resources Ltd
TSX-V: SWA
ASX: Proposed listing 2021 next gold district
Head office: Suite 8, 245 Churchill Avenue Subiaco WA 6008
Australia
Phone: +61 8 9363 7600
Fax: +61 8 9382 4309
Email: [email protected] An ASX listing, an updated resource and the launch of feasibility work;
Twitter: @SaramaResources if everything goes to plan, Sarama Resources could become one of
LinkedIn: Sarama Resources the West African gold stories of 2022 and beyond.
Key people: Simon Jackson (non-executive chairman); Sarama is a long-term participant in the West African exploration
Andrew Dinning (managing director); Adrian Byass scene, having delineated 2.5 moz gold on its Sanutura Project in south-
(non-executive director); Steve Zaninovich west Burkina Faso since listing on the TSX in 2010.
(non-executive director) However, having seen progress at Sanutura stall for several years due
Market cap: $C31 million to a poorly performing JV, the company managed to successfully re-
Share price: 34c/share gain control and has chosen to reinvigorate itself, refreshing the board
Projects: Sanutura – Houndé and Boromo Greenstone Belts, and subsequently choosing to dual list on the ASX.
south-west Burkina Faso
Resources: 9.4mt @ 1.9 g/t for 600,000oz (indicated) plus For chief executive Andrew Dinning, the move amounts to a resetting
43.6mt @ 1.4 g/t for 1.9 moz (inferred) reported at for the company.
cut-off grades ranging 0.2-1.6 g/t “There was a natural progression to a restructured board. Because of
Bondi: 4.1mt @ 2.1 g/t for 282,000oz gold (measured the global pandemic it was becoming increasingly difficult to operate
and indicated) plus 2.5mt @ 1.8 g/t Au for with a board split between Canada and Australia,” Dinning explains.
149,700oz (inferred), reported at a 0.5 g/t cut-off “Ultimately, it has proven a circuit breaker for the company. It has led
Koumandara: Banfora Belt, south-west Burkina Faso to a revising of the company strategy, a recent capital raising and an
Karankasso JV: Endeavour Mining Corp/ Sarama 20% participating update to the resource at Sanutura.”
interest
Resources: 12.74mt @ 1.73 g/t for 709,000oz gold

resource update out.”
In parallel, the company will also begin
metallurgical work on transitional material in
anticipation of starting a feasibility study in
the latter part of 2021.
Sarama’s plan is to focus its project
economics on oxide ounces, allowing it to
simplify mining and processing and also
target a quick payback.
“With a 1 moz oxide starter resource, we
should be able to build and payback the
Adrian Byass and Steve Zaninovich have
joined the Sarama board this year. Both are mine with just the oxides which are free
Perth-based and well-versed in West Afri- digging and easy processing with high
can gold developments, experience which recoveries,” Dinning says. “It is a similar
Sanutura will benefit from. approach to what Perseus Mining has done
at its Sissingué gold mine in the Ivory Coast.
Sanutura – which means gold bull in the “We already have a good idea of what the
local Douala language – is the new name flowsheet would look like; it comes down
of Sarama’s combined projects in the highly to right-sizing it. It is always a trade-off North American investors have been
prospective southern Houndé Belt (formerly between throughput, capex and grade reluctant to back junior gold plays in West
the South Houndé and ThreeBee projects). and where you find the greatest value per Africa in recent years. Meanwhile the
Collectively they now boast a mining con- tonne.” ASX has displayed strong support for the
strained resource of 2.5 moz gold, up from region with established producers such as
the 2016 global resource of 2.1 moz gold. Once payback is achieved there will be a Perseus Mining Ltd and Resolute Mining
The upgrade also included an increase in natural transition point where it will make Ltd performing well, new arrivals such as
oxide and transitional material to 0.9 moz sense for Sarama to introduce the sulphide West African Resources Ltd posting big
gold. In addition to this, the Bondi Deposit is ore into the processing stream, however gains and a growing gang of junior explor-
waiting in the wings which has a historical depending on throughput settled on, the ers enjoying strong market support.
resource of over 0.4 moz gold. company does not see this transition hap-
With a further $C1.6 million raised in recent pening for at least 6-7 years. Dinning is already seeing signs of this senti-
ment.
months, Sarama is intent on lifting that “If you can get something paid off inside two
figure still further. years, it begins to open up your options for “The appetite for the IPO is good, the story
“The ultimate aim is to reach a combined 3 when you put sulphides through the circuit has been well received and we are sup-
ported by Euroz-Hartleys,” he says.
because you are no longer considering
moz gold resource in the next update, with payback, etc.
the aim to push well through 1 moz of ox- The company had planned to finalise the
ides and transitional which would easily be “The aim is to get at least six years of oxide IPO process by November but with the
enough to justify a CIL plant,” Dinning says. production before we have to upgrade the Christmas period looming, it has chosen
“From there we will do a feasibility study circuit.” to push the listing back to early in the new
with the first phase of production focussing Given the recent success of ASX-listed year. Dinning is confident the Australian
on the oxides and transitional.” West African gold plays, Dinning expects capital raising will provide Sarama with
further impetus.
The company has several options to realise the Australian market to quickly warm to the
that goal, all of which will focus on easy-to- Sarama story. “We are looking to raise $8-10 million which
win oxide ounces. “Our value, as a TSX-listed company, is will be put to work straight away on the
Sarama also has regional targets on its miles off that of our peers on the ASX,” he oxide targets as well as Bondi,” he says.
1,500sq km land package at Sanutura, says. “We have a lot of ounces with plenty A bulging bank balance, growing resource
including the Bamako 2 Property – where a of upside and line-of-sight on development. and the start of feasibility work; Sarama
hit of 8m @ 18 g/t gold is yet to be followed They’re the things Australian investors like could look a very different company at the
up – and the Bondi Deposit which contains to see in a gold company.” beginning of 2022.
a historical resource in excess of 0.4 moz
gold that Dinning is eager to formalise and
also grow.
“2021 is all about pulling in the high prob-
ability, high value ounces, upgrading the
resource and doing the technical work so
we can roll into a feasibility study,” he says.
While the company is yet to set a date for
the start of feasibility work, Dinning believes
the current exploration season will be long
enough to give the company the drilling data
it needs.
“We expect to materially grow the total
resource and to convert a lot of the inferred saramaresources.com
material into indicated which will enable us
to get moving on feasibility work. So, it will
probably be Q3 2021 before we get the

www.paydirt.com.au


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