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Published by Paydirt Media, 2020-12-07 02:23:36

pd289-Dec20-mag-web_Neat

TNG Ltd has expanded its strategic footprint in the announced partnership with SMS for the production of green
green energy sector by establishing a vanadium hydrogen energy.
redox flow battery (VRFB) business unit as part of Pre-development planning for Mount Peake is at an advanced
the vertical integration strategy for its flagship Mount stage, providing strong impetus for the Perth-based company
Peake vanadium-titanium-iron project in the Northern to progress its plans to establish a commercial VRFB business
Territory. unit via its green energy focused, 100%-owned subsidiary TNG
Energy Pty Ltd.
VRFBs use vanadium electrolytes to storge energy in support “The development of the VRFB business is an extension of our
of the wider application of renewable power generations, such positioning as a resources and mineral processing technology
as wind and solar, and are highly scalable for use in a variety of company, underpinned by the 100%-owned TIVAN® processing
settings. They also have long lifespans of at least 201 years and technology to be used at Mount Peake,” TNG managing director
minimal performance degradation. Paul Burton said.
TNG has previously demonstrated its ability to produce a
high-purity vanadium electrolyte from the vanadium pentoxide “The potential development of VRFBs using Mount Peake’s
generated in pilot-scale test work using material from Mount vanadium electrolyte, together with the recent agreement signed
Peake, about 235km north of Alice Springs. This work was with SMS to develop a hydrogen production technology, marks
completed in conjunction with engineering partner SMS Group in another step towards realising our strategic vision of establishing
2016. TNG as a sustainable resources company and providing
maximum benefit to our shareholders.”
Since then, TNG has continued to evaluate the green energy
market and the potential for VRFB use, while also advancing Burton said his company would also evaluate the potential spin-off
other initiatives aimed at moving to green energy and carbon of TNG Energy to maximise shareholder value.
neutral operations across the business. This includes a recently



committed to product
are progressing in a
timely manner.
“We think if we can
get 70-80% of our
product into binding
offtakes, then that will
be a really good out-
come for us,” Prentice
said.
The major carrot
dangling in front of
TMT on the offtake
Batteries is a fast-growing sector for vanadium despite only accounting for 1% of total end-use market
side appears to be in
the emerging battery
32% increase in the reserve base which now TMT has engaged FLSmidth as the pre- space where vanadium has been earmarked
stands at 39mt @ 0.9% vanadium pentoxide. ferred supplier of the roasting kiln section as a key ingredient in energy storage prod-
A maiden reserve of 9.4mt @ 0.97% va- for the Gabanintha processing plant and ucts. However, it is yet to enjoy the same
nadium pentoxide was also announced for Prentice believes that group’s longstanding price runs as other battery inputs such as
Yarrabubba. relationship with Danish export credit agency graphite, lithium, cobalt and nickel have over
Based on this reserve upgrade, Gabanin- EKF will have flow-on benefits for his com- the past five or so years.
tha’s projected life-of-mine operating sched- pany. “The base case is we deliver into the [stain-
ule was extended from 16 years predicted in A gas transportation agreement has also less] steel market and we can make a really
the DFS to 22.5 years, assuming a produc- been executed with APA Group for the devel- good project for just that traditional market,
tion rate of 13,000 tpa vanadium pentoxide. opment of a circa 152km pipeline to supply but the real opportunity for growth and I
“Post DFS we had a little bit of the feed- gas to Gabanintha from the Perth Basin. This guess certainty around that longer term mar-
back that a 20-year mine life would enable us option is significantly cheaper than what was ket is going to be in the energy storage side
to get a longer tenor of debt with some of the previously estimated in the DFS. of things,” Prentice said.
financiers we were talking to,” Prentice said. “It’s probably the closest point to any ex- “From some of the conversations I’m hav-
“We’ve got that longevity there now. It’s still isting infrastructure so it means the cost of ing with counterparties in that space, the am-
only 30-odd million tonnes out of our 137mt building a gas pipeline is going to be effec- bitions within the vanadium redox flow sector
resource, so there’s still plenty of scope to go tively the cheapest it can possibly be for us,” are enormous and the amount of vanadium
much longer than that, but as far as being in Prentice said. they’re talking about needing over the course
a position to be funding a project, having a “You pay for that transportation service of this decade, compared to the current sup-
plus-20 year mine life is a really, really impor- through the pipeline, so the shorter the pipe- ply of vanadium…we need to work together
tant starting point.” line, the lower the cost for the transportation. to make sure that our project is up and run-
Based on the outcomes of the DFS, Gab- We can see some really good cost benefits ning and feeds into that increasing demand
anintha will be one of the world’s lowest-cost from that tie-up with APA.” around energy storage.”
producers of vanadium pentoxide, with an TMT has also moved into the due diligence – Michael Washbourne
estimated opex of $US4.04/lb. Other key phase of negotiations with the Northern Aus-
financials from that study were EBITDA of tralian Infrastructure Facility (NAIF) around
$4.1 billion, pre-tax NPV of $US924 million project funding support for Gabanintha, while
and IRR of 34%. discussions with offtake groups not already



aUSTRaLIa’S PaYDIRT DeCeMBeR 2020 - JaNUaRY 2021 Page 101

BAtteRY MIneRALs




Renascor heads downstream




raphite might be on the nose with over a 10-year term largely flew under downstream product, so we went whole-
Gthe majority of investors, but it still the radar. hog and did a battery anode material
remains the “main game” for South Aus- That amount covers roughly one-third study that integrated the concentrate into
tralia’s Renascor Resources Ltd. of the projected initial production capaci- the downstream and we’ve been doing
Despite formally restarting gold explo- ty of Renascor’s proposed battery anode our best since then to move that forward.
ration activities last month for the first material operation. “Plugging it into the downstream space
time in years and bringing in a subsidi- Renascor recently completed a study to produce a purified spherical graphite
ary of Rio Tinto Ltd to run the ruler over on an integrated operation that uses allows us to pass some low-cost cost
another prospective tenement in the Siviour concentrate as feedstock for pu- savings, provided we can get the right
Adelaide Fold Belt, Renascor is as com- rified spherical graphite production. Key scale, on to the downstream operations.
mitted as ever to developing its Siviour estimates from that assessment include That’s a much sweeter spot from an
graphite project. gross operating costs of $US1,989/t, a offtake perspective because rather than
“It’s the main game,” Renascor man- post-tax NPV of $713 million, IRR of 33% dealing with processors in China who
aging director Da- and an average tend to be relatively small companies –
vid Christensen annual EBITDA of not big SOEs – we’re dealing with the
told Paydirt when $156 million. mega anode companies.
asked where Start-up capi- “We talk about graphite being a criti-
graphite currently tal for the down- cal mineral…well, it becomes a critical
sits on the com- stream operation mineral once you get into that purified
pany’s list of priori- was estimated at spherical form. It’s not so critical as a
ties. $213 million, in- concentrate for industrial applications.”
“Gold is some- cluding $114 mil- Siviour is now the world’s largest
what helpful be- lion for the mine graphite reserve outside of Africa, host-
cause it gives us and concentrator ing a total 51.5mt @ 7.4% TGC for 3.8mt
near-term news and $90 million for contained graphite (including proven re-
flow and an oppor- the battery anode serves of 15.8mt @ 8.4% TGC for 1.3mt)
tunity to extract component of the which is capable of supporting a mine life
additional value project. of at least 40 years.
out of the tene- Renascor re- With a boosted cash position of $5.2
ment portfolio. I leased a DFS on million following a $3.6 million raising in
know it’s a bit of concentrate-only September, Renascor is well funded to
a schizophrenic production from continue work on both its graphite and
message, but it Siviour a little gold properties. A programme of geo-
was too good to more than a year physical surveying and exploration soil
pass on to some- ago which indi- sampling at the Carnding gold project
one else and not cated a $114 mil- began last month ahead of a planned
do it ourselves. lion capex for an 2,000m drilling campaign.
“The graphite initial 80,000 tpa Previous drilling results at Carnding, in
is a world beater operation. Cash SA’s Gawler Craton, include 7m @ 5.14
in terms of the flow from the first g/t gold from 24m (including 2m @ 16.42
project’s ability to four years of con- g/t from 30m) and 6m @ 4.94 g/t gold
unlock a relatively centrate produc- from 14m.
large amount of tion would then be Renascor also recently entered into
shareholder value, used to fund a $77 a binding agreement with Rio Tinto Ex-
whereas I don’t David Christensen million expansion ploration Pty Ltd regarding a key tene-
think the kind of to 144,000 tpa. ment within the Marree project which is
gold project we’re C h r i s t en sen understood to be prospective for copper.
looking at is a world beater. Having said said the company decided to pursue a Rio Tinto can earn up to 80% of EL5586
that, it’s the type of project that in a posi- downstream option for Siviour, about through payments of $200,000 and sole-
tive gold market could be a very attrac- 15km west of Arno Bay on SA’s Eyre funding exploration of $3 million.
tive earner for our shareholders.” Peninsula, because it had emerged “It was something that we picked up
Given the current lack of investor sup- as the most likely path towards landing because it had some similarities to what
port for graphite stocks, Renascor’s an- offtake. you would see in the African copper belt,”
nouncement in late September that it had “When we finished our DFS, we had Christensen said.
entered into a non-binding MoU with Chi- discussions with people that were most “We’ve decided to look a little closer
nese anode company Shanxi Minguang likely going to get us over the line from an not only at the gold, but some of these
New Material Technology Co Ltd – a sub- offtake perspective in terms of balance other prospects we’ve been holding on to
sidiary of Fujian Metallurgical Holding Co sheet scale and bankability with those on for a while in light of where commodity
Ltd, one of China’s largest state-owned the anode side,” he said. prices sit right now.”
enterprises – for the purchase of up to “Now what they were really interested – Michael Washbourne
10,000 tpa of purified spherical graphite in wasn’t just the concentrate, it was the


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Venturing across the commodities




ith Venture Minerals Ltd trading at mineralisation at ORRC003.
Wtwo-year share price highs in late In the meantime, the first three holes
November, it was a good time for Paydirt from the Orcus prospect were being
to catch up with the company’s managing analysed to confirm the mineralisation
director Andrew Radonjic. observed.
Radonjic signalled that first shipment “This now means we have already
from the Riley DSO iron ore project on identified 120m of VMS-style sulphide
Tasmania’s north-west coast was poised mineralisation open at depth on the first
for March, and while that is a long-await- line of drilling at Orcus. It bodes well
ed positive step for the company, there for the next line of drilling 300m to the
is also interest brewing in its exploration south across the strongest part of the EM
portfolio. anomaly, and the highest-grade copper-
After an initial drill hole at Orcus in- in-soil results recorded at the prospect,”
tersected 33m of disseminated to semi- Radonjic said.
massive sulphides with copper and zinc Having exploration success at Orcus
at Golden Grove North (VMS), results may just be the fillip for Venture’s wider
from the next two holes also included portfolio of assets to be appreciated.
disseminated to semi-massive sul- While Orcus is along strike of the
phides with copper and zinc over 23m famed Golden Grove VMS mine, near
Yalgoo in Western Aus-
tralia’s Mid West, Venture
also finds itself in terrain
bearing semblance to
the geological setting of
Chalice Gold Mines Ltd’s
Julimar nickel-copper-
PGE project, near Perth. Andrew Radonjic
The potential of Ven-
ture’s South West pro-
ject, near Bridgetown targets at the Kulin gold project, within
and Manjimup, to host a the South West Terrane of the Yilgarn
Julimar look-a-like has Archean Craton which hosts the likes of
been recognised by Chal- Boddington, there is ample opportunity
ice which has committed in Venture’s stable for a game-changing
$3.7 million to the South discovery.
West project to earn a Radonjic said having a diverse port-
70% interest, with Ven- folio made it a “little hard to market” the
ture maintaining a 30% company at times.
stake upon completion of “There are half a dozen opportunities
expenditure. within the company to produce success-
“I think the Chalice JV ful news flow, so each project does have
is something that has an influence. It is a bit of a blessing and
flown under the radar on curse at the same time; to understand
Maiden drilling at Thor, within the South West project, the basis that they got the full valuation can be a complicated
intersected 2.4m of massive sulphide averaging 0.5% copper another big leg up since beast,” he said.
with 0.05% nickel, 0.04% cobalt and anomalous gold and we did the JV, but I don’t “Once we get Riley up, we’ll have this
palladium. Chalice is earning into Venture’s project think Venture has had any base load $30 million valuation as an ex-
reaction to that,” Radonjic plorer that is producing, and we’ll get that
said. producer’s premium in our stock. Then
(ORRC002) and 69m (ORRC003), re- “Chalice’s stock is $3.50/share and the upside will all be in the exploration,
spectively. when we did the JV it was $1/share. I think.”
ORRC003 is more than 120m down- Certainly, the valuations on Julimar DSO iron ore production from Riley
dip of the historic intersection of 22m @ have increased dramatically and on the has been estimated to deliver $31 million
0.76 g/t gold, 0.64% copper and 1.3% back of an EM target their stock goes cash for Venture over a period of about
zinc from 38m (bottom of hole), includ- up; we identified a 6km-long EM target two years, which could help fund a small
ing 10m @ 1 g/t, 0.74% copper and 2.1% two years ago. Had we done the JV one underground tin mining operation at its
zinc in sulphides from 50m to bottom of month ago or around that [Julimar dis- flagship Mt Lindsay project in Tasmania.
hole. covery] announcement our stock would “We are on track for commissioning
Venture planned to shift the RC rig have gone bursting along.” [Riley] in late January and then hopefully
onto the stronger EM response and co- The market’s appreciation for explora- by mid-March will make our first ship-
incidental highest-grade soil anomaly at tion success appears to be continuing ment,” Radonjic said.
the heart of Orcus, as it looked to con- and with Golden Grove North showing
duct diamond drilling targeting deeper promising signs and drilling testing new – Mark Andrews


aUSTRaLIa’S PaYDIRT DeCeMBeR 2020 - JaNUaRY 2021 Page 103

ReGIonAL RoUnDUP




All in due course for Adriatic




t has been described as the most rigor- don-listed, Australian-listed
Ious due diligence process ever experi- company with a number of Vares PFS
enced by a junior resources company, but operating assets in Europe.”
as far as Adriatic Metals plc managing di- Cronin said the com- Mined tonnes to plant 11.1mt
rector Paul Cronin is concerned the unu- pany remained in discus-
sually high level of scrutiny was all worth sions with a range of banks, Life of operation 14 years
it for the final outcome. streaming and royalty com- LOM SilverEq production 137 moz
Adriatic now counts the European Bank panies, offtake and EPCM
for Reconstruction and Development groups over project finance Average production (1-5 years) 15.3 mozpa
(EBRD) as a substantial shareholder fol- for Vares, but he expected Cash cost $US117.10/t
lowing a recent $US28 million capital rais- those talks to progress sig-
ing which was also comprised a $US20 nificantly now that the PFS AISC $US120/t
million private placement of 8.5% unse- results were out in the mar- Revenue $US296.30/t
cured convertible debentures to Queen’s ket.
Road Capital Investment Ltd. Highlights from the PFS Pre-production capital $US173 million
EBRD is owned by 69 countries – in- include a post-tax NPV of Post-tax NPV (8%) $US1.04 billion
cluding Australia and the US – alongside $US1.04 billion, an IRR of
the European Union and the European 113% and an average an- IRR 113%
Investment Bank. Each shareholder is nual EBITDA of $US251 Payback 1.2 years
individually represented on the board of million in the first five years
governors which ultimately approves the of production. Some 45% of Annual EBITDA (years 1-5) $US251 million
overall strategic direction. the revenue is aligned with
Queen’s Road listed on the TSX earlier the silver and gold produc-
this year and is backed by the likes of bil- tion streams. the Vares project following an earlier meet-
lionaire fast food entrepreneur Jack Cowin Adriatic has already begun work for the ing.
and Fortescue Metals Group Ltd founder DFS which has a tentative completion date “It was quite a pleasant surprise,” Cronin
Andrew Forrest. of April 2021, although Cronin said that said. “He understands we’re on a critical
Having EBRD and Queen’s Road join “could swing a little bit” pending the out- path to project development and he is also
the register will likely prove critical towards come of upcoming metallurgical testing. very much aware of some of the bureau-
Adriatic’s bid to lock away development fi- Despite some of the challenges created cratic frustrations that foreign companies
nance for the Vares silver project in Bosnia this year by the COVID-19 pandemic, Adri- have when they’re operating in Bosnia.
and Herzegovina over the coming year. A atic has hardly skipped a beat. So marked “To that extent, they are at the moment
PFS released in mid-October estimated has been the company’s progress in 2020 preparing to vote on legislation which re-
just $US173 million was needed to build that Bosnian Prime Minister Zoran Tegelti- moves a lot of those seeming impediments
the proposed 800,000 tpa operation which ja, who was reported to have tested posi- to foreign investment. Certainly his gov-
is set to produce 15.3 mozpa silver equiva- tive for coronavirus in November, offered ernment is committed to accelerating for-
lent for the first five years of the initial 14- his personal support for development of eign direct investment into the country and
year mine life. some of those legislative changes I think
Cronin said the arrival of EBRD was a will do that.”
particular boon for the Balkans-focused Cronin said his company had started
company because it “brings with it the full identifying potential cost savings for the
might of the European Union”. In Bosnia, upcoming DFS, mostly focusing on im-
the bank has invested over €2.6 billion provements to transport logistics and port
across 183 projects and is one of the larg- handling charges. Staged construction of
est sources of foreign direct investment the process plant is another option under
into the country. consideration given the sequential nature
“We’ve been through probably the of the mine schedule.
most rigorous due diligence exercise that Vares is comprised of two deposits,
any junior company has ever faced, par- Rupice (underground) and Veovaca (open
ticularly on our environmental and social pit), about 12km apart. The latter once pro-
impacts, but what it does mean is we will duced lead, zinc and borate concentrates,
now have the full clout of those political in- but has not been operational since 1988.
stitutions behind our expansion strategy in Adriatic successfully converted 88.5%
Europe, and that for us is a huge positive,” of the inferred resource at Rupice into
Cronin told Paydirt. reserves for the PFS and Cronin expects
“I’m not talking for the next six months that work to have a material impact on fu-
or two years; I’m talking 10 years down ture operations.
the track where Adriatic wants to be, a “I think the fact we got such a high re-
multi-site regional player. We are setting serve conversion is indicative of the
ourselves up as a British-registered, Lon- amount of work that we put into the re-
Paul Cronin


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eURoPe




























A DFS on Adriatic’s Vares silver project in Bosnia is expected to be completed by April 2021


source and the mine plan,” he said. was the standout resources IPO from
“We still have a lot more work to do on 2018, a number of encouraging intercepts
the capex in terms of localisation of some were recently reported at Kizevak, part of
of the costs. We’ve identified a number of the Raska polymetallic project in Serbia,
areas where our procurement group is go- acquired from the takeover of TSX-listed
ing to be working at various trade fairs, etc Tethyan Resource Corp in May. Adriatic has expanded its footprint around
to identify local suppliers who can provide Best hits included 13m @ 5.8% zinc, the Rupice deposit
items such as tanks, piping, pumps and do 2.8% lead, 46 g/t silver and 0.2 g/t gold
maintenance contracts and those sorts of from 60m (including 4m @ 13.3% zinc, project,” Cronin said.
things.” 6.2% lead, 110 g/t silver and 0.3 g/t gold) “Our clear approach from the very be-
The Adriatic team is also quietly rubbing and 26m @ 3.5% zinc, 1.5% lead, 19 g/t ginning was to look for ex-Yugoslav as-
their hands together at the prospect of ex- silver and 0.2 g/t gold from surface (includ- sets where there had been some degree
ploring for repeats near Rupice after being ing 7m @ 8.6% zinc, 3.2% lead, 42 g/t sil- of historical exploration, where data was
granted a new mineral concession of 32sq ver and 0.2 g/t gold). available to be analysed, verified and then
km in early September. Preliminary metallurgical testing of expanded on. That strategy has been
“It’s significant because it’s the big- the Kizavek material also demonstrated successful at Vares and it has been suc-
gest mineral concession Bosnia has ever strong recoveries of zinc, lead and silver cessful so far at Raska in Serbia. We have
awarded,” Cronin said. “When you look at by flotation, with very low deleterious ele- identified other assets in the region we’d
the structural and the geochemical condi- ments and impurities. like to look at, but we’re certainly not limit-
tions that have given rise to the Rupice de- With Vares having a rapid payback of ing ourselves to the Balkans, although we
posit, which is quite a unique deposit, we just 1.2 years, Cronin indicated his com- are trying to keep a focus on a Europe.”
haven’t seen one like it anywhere else in pany would look to push early cash flow Adriatic also continues to make inroads
the world. That new land package allows from operations in Bosnia across the bor- on the regulatory front and remains on
us to go and find those conditions and look der to Serbia as soon as possible. track to meet key requirements for the op-
for those repeats, and we’re all reasonably “I’m pretty confident already based on eration and mine use permits in 2021.
certain it will repeat.” metallurgical work we’ve done and the
In a further boost for the company which drilling we’re doing that this is real mining – Michael Washbourne


Black Dragon Gold Corp is on the cusp of appointing “Spain was dead for almost six months, almost nothing happened,
a new chief executive to lead the company’s activities but in the last two months we’ve seen a huge amount of interaction
in Spain post one of the world’s lengthiest COVID-19 with government and everything is moving in the right direction
lockdowns. very quickly,” Cronin said.
Until recently, Spain had essentially been in a complete lockdown “I was only there as a caretaker, I’ve kept Black Dragon moving
since March due to the coronavirus pandemic, meaning com- in the right direction for as little cash burn as possible without
panies such as Black Dragon have effectively been unable to seeing any wastage, but you’ll see some changes coming through
conduct any business. there soon because the project and the company is now getting
to the point where it’s ready to expand and it’s now got to have a
Black Dragon’s main and immediate focus is preparing the dedicated CEO.
environmental impact assessment for its Salave gold project in
the country’s north-west. Paul Cronin has been overseeing those “We’ll be bringing in a guy who I trust to run that company, who can
activities in his capacity as executive director, but scaled back his manage both the exploration and development side of things and
full-time responsibilities at the company more than a year ago to someone who is very familiar with the project. There will be quite a
focus on his role at the helm of Adriatic Metals plc. lot of news flow coming out between now and Christmas on Black
Dragon.”
However, Cronin expects to soon be passing the baton on to a new
chief who will manage all facets of the business in Spain.

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Biden a big win for US-based Aussies



he US is set to re-emerge as a leader administration which enacted rigorous en- develop a 2.5 mtpa mining and processing
Tin the adoption of electric vehicles, ac- vironmental regulations that slowed the operation at Rhyolite Ridge in Nevada, with
cording to Texas-based ioneer Ltd chairman growth of the US mining sector. first production set for 2023.
James Calaway, following Joe Biden’s stun- Biden was vice-president to Barrick Oba- “The US is the second biggest car mar-
ning win in the recent presidential election. ma during the latter’s time in office and is ket in the world, it produces 20 million cars
Biden will officially enter the White House well-regarded in conservation circles, but is a year, and if you just simply said ‘if all of
on January 20, pending no further legal pro- also believed to be supportive of domestic those were electric’, how much lithium is that
tests from the ousted Trump administration, production of metals such as lithium which based on today’s consumption, and the an-
and has promised to get straight to work on are needed for EVs, solar panels and other swer is 1.2mt at about 60kg per car,” he said.
his “build, back, better” economic recovery products crucial to his climate plan. “It’s going to take some time to get to that
plan. “One of the things that we’re hopeful for level, obviously, but if you just take a quar-
Calaway said a critical component of is that they will understand that having op- ter of that total US market, which I think is
Biden’s campaign was to rebuild the econ- position to mining and production of hydro- the mark most people are thinking will be
omy “in accordance with a sustainable fu- carbons is one thing, but having an opposi- reached later this decade, then that’s in the
ture” whereby the US would resume being tion to the production of the critical materials order of 300,000-400,000t of lithium chemi-
a world leader, not a lagger, in dealing with necessary for this transition is another,” cal, just for the US and a quarter of their
climate change. Calaway said. vehicle fleet. And that’s just the light vehicle
“How are they going to do that? Well, “You have to draw that distinction, that you fleet.
they’re going to do it in the retail end by ex- can’t be acting as if all mining, all oil and gas “You can debate when it actually hap-
tending tax credits for people buying cars production, etc is all equivalent. Some of it pens, but there’s no question it is happening
that are electric and they’re going to provide is vital to the future and some of it may be in and certainly what I’m seeing in an Austral-
all kinds of incentives and direct support for fact detrimental to a sustainable future. I do ian context is an increasing awareness of
massive industries in charging infrastructure think they are starting to make that distinc- that and a fundamental increasing interest
in the US,” Calaway told Paydirt. tion and I think that we’ll all benefit from that.” in lithium companies like ioneer from the
Calaway, the former chairman of lithium Sydney-based ioneer managing direc- investment community, both retail and insti-
producer Orocobre Ltd, was also hopeful tor Bernard Rowe said the electrification of tutional.
the incoming Biden administration would be more vehicles in the US would be a major “We’ve just gone through a period of de-
more supportive of mining than the Obama boost for his company, which is looking to clining prices for three years in lithium and
it was very difficult to get any traction with
institutional investors in Australia during that
time period, but that’s noticeably changing
now.”
Over the next 12 months, ioneer hopes
to finalise engineering studies on Rhyolite
Ridge, lock away project financing arrange-
ments and have all environmental permits in
place for a final investment decision.
– Michael Washbourne


Rhyolite Ridge in Nevada is the most advanced lithium project in the US


ASX-listed lithium hopefuls ioneer Ltd and Piedmont future supply of spodumene concentrate from its namesake lithium
Lithium Ltd have joined the likes of Tesla Inc and Albe- project in North Carolina.
marle Corp as founding members of the Zero Emission The agreement for 160,000 tpa – about one-third of Piedmont’s
Transportation Association (ZETA) which is advocating proposed production – is for an initial five years on a fixed-price
for 100% electric vehicle sales in the US by 2030. binding purchase commitment from the delivery of first product. A
second five-year term may be executed by mutual agreement.
ZETA is the first coalition of its kind in the US, bringing together
industry leaders, advocates and non-governmental organisations “We are excited to be working with Tesla, which represents the
across the transportation, clean energy and technology sectors to start of the first US domestic lithium supply chain and a disruption
drive policy changes that accelerate EV adoption. to the current value chain,” Piedmont president and chief executive
Kevin Phillips said.
“We view a global shift to electric vehicles as central to our mis-
sion,” ioneer managing director Bernard Rowe said. “As the most “We will now accelerate our mine/concentrator development to
developed lithium project in the US, not only are we excited to be support Tesla’s plans, work to further expand our mineral re-
working closely with fellow leaders across the automotive sup- sources, and potentially increase our planned annual spodumene
ply chain, we understand the importance of ensuring US national production capacity.”
policy supports a greener future.” Piedmont announced a $US50 million ($70.6 million) capital raising
For Piedmont, admission to ZETA comes on the back of the in late October to complete a DFS as well as finalise test work and
company entering into a binding agreement with Tesla for the permitting for the project.


Page 106 DeCeMBeR 2020 - JaNUaRY 2021 aUSTRaLIa’S PaYDIRT

noRtH AMeRIcA





BMC measures First Nations people were involved with
setting up the new camp accommodation at
KZK during the Yukon spring of 2020
approach in Yukon

us in good stead,” Donaldson said.
Donaldson’s conviction in the project has
meant top talent has also flowed into BMC.
Former Trevali Mining Corp chief financial
officer Gerbrand van Heerden has crossed
over to join BMC, while Joel Ray – most re-
cently senior manager operational delivery
at Syama in Mali with Resolute Mining Ltd
– has taken the reins as chief mining engi-
neer for the development of the ABM mine
at KZK.
As development discussions gather pace,
a source of funding for KZK will need to
be organised and there appears to be op-
tions aplenty, with silver on a tear this year
($US25-26/oz) and zinc rallying to a six-
month high ($US1.14c/lb) at the time of print.
“I think one of the beauties of a project like
this is it can be financed in many ways. The
strong precious metals credits give you the
ability to do something with precious metals
financing-based groups and of course there
is always traditional debt and equity,” Don-
ix years ago, the old firm from Jabiru $US375 million is anticipated for construc- aldson said.
SMetals started on a course to find its next tion of a concentrate metal-producing pro- “Streaming is one of the options, we have
perfect match. ject of 7.8 mozpa silver, 106,800 tpa zinc, received pretty strong interest from potential
Jabiru was subject to a $531 million takeo- 14,400 tpa copper, 25,300 tpa lead and buyers of our concentrate. We have some
ver from Independence Group NL (now IGO 56,500 ozpa gold. interest in helping us build the project from
Ltd) in mid-2011, with the Jaguar copper- Based on the numbers above, a NPV of lenders and non-traditional lenders, so we
zinc-silver mine and Stockman copper-zinc $US617 million, IRR of 45.9%, operating have many levers we can pull but I don’t think
project central to the deal. cashflow margin of 43% and cash cost of we’ll need to pull all of them.”
Given the success with Jabiru, it is no silver production after by-product credits of Meanwhile, taking BMC into the public
surprise that some of the key players behind $US22.13/oz were guided in an updated fea- domain is something else being weighed up.
BMC Minerals – Gary Comb (chairman), sibility study released in November. “That is definitely something we are con-
Scott Donaldson (chief executive and ex- “When we went looking for mining pro- sidering; a Canadian asset with an Austral-
ecutive director) and Neil Martin (executive jects around the world six years ago, we ian executive management team; either
director, exploration and development) – are were looking for base metals projects that Canada or Australia would be a good fit,”
knee-deep in the Kudz Ze Kayah (KZK) pro- had very high precious metals credits. As Donaldson said.
ject, south central Yukon, Canada. base metals projects go, this is a very unique
It was timely that Paydirt caught up with project with silver and zinc being the two – Mark Andrews
Donaldson last month, as the Government dominant metals of this project; it is a perfect
had just backed the development of KZK, natural hedge,” Donaldson said.
subject to 30 recommendations. “One of the things that makes this project
Donaldson said the recommendations unique is it’s 50% precious metals and 50%
were all sensible and that the company was base metals, which is almost the perfect mix.
in the process of reviewing them in parallel Silver is now the dominant metal contributing
with restating a DFS from June 2019. over 30% net revenue and zinc will be just
“A lot of things have come together at the under 30%.”
right time for us, we have got the positive rec- Initially, KZK is a 2 mtpa, nine-year propo-
ommendation that the mine should proceed, sition for BMC, which has over 3,500 min-
subject to 30 issues, and we have got the re- eral claims in a region of Yukon experiencing
stated DFS which we are putting together to high unemployment rates.
take into account the timelines going forward Donaldson said there was exploration up-
and things we have been able to complete side to consider at KZK, but the near-term An environmental and socio-economic
over the last 15 months,” Donaldson said. focus is on bringing the mine to life in the review of the BMC’s mining proposal for the
“We will be appointing advisors shortly second half of 2023 and achieving first sales ABM silver-zinc mine has been completed
and we will start the financing process in shortly thereafter. by the Yukon Environmental and Socio-
2021. That will run in parallel with the final “There are only four projects in the world Economic Assessment Board (YESAB), with
permitting process.” that boast a top 20 silver mine and top 20 the outcome recommending that the mine
A pre-production capital cost of about zinc mine by production; we think KZK holds be allowed to proceed to permitting


aUSTRaLIa’S PaYDIRT DeCeMBeR 2020 - JaNUaRY 2021 Page 107

SIGNED, SEALED AND DELIVERED




Anglo transitions to low MACA’s reign continues Stage 1 development of its C4 iron de-
posit.
emission fleet at King of the Hills The contract is for all aspects of opera-
tions “from pit to port” on a cost-plus ba-
Anglo American plc has introduced LNG MACA Ltd has been selected as the pre- sis. GWR is not required to provide any
into its chartered fleet for the first time in ferred EPC contractor for Red 5 Ltd’s King upfront capex or opex and will retain a
signing a 10-year charter contract for four of the Hills gold project in Western Aus- 70% share of the project profit, while also
LNG-fuelled cape size vessels. tralia. maintaining the rights for ore sales, strat-
The new build LNG vessels offer sig- The contract will consist of the process- egy and timing.
nificant environmental benefits, including a ing facility, equipping of the bore fields, high Stage 1 development covers just 1mt of
35% cut in carbon dioxide emissions com- voltage power distribution, workshop, ware- the 21.6mt @ 60.7% iron resource at C4.
pared to standard marine fuel, while also us- house and bulk earthworks. The award re- PRG officially began development and
ing new technology to eliminate the release mains subject to a $10 million authority to site works in October and production re-
of unburnt methane, or so-called “methane proceed to enable plant design and earth- mains on track to start this month, with the
slip”. works mobilisation. first shipment scheduled for early 2021.
Designed to be larger than, but remain as Phase 1 of the contract is valued at $50 GWR has also started accepting offtake
flexible as, a conventional capesize vessel, million. Phase 2 remains subject to debt proposals for the sale of its product and
the new builds will optimise cargo transport financing arrangements being resolved by is close to finalising discussions with the
by increasing load and improving overall Red 5. Mid West Ports Authority and current us-
cost effectiveness. The EPC and bulk earthworks contracts ers for port and shed access.
U-Ming Marine Transport will own the are in addition to an earlier supply contract
newly designed 190,000t LNG-fuelled bulk for long-lead items, including the SAG mill
carriers. The fleet will be built by Shanghai and gyratory crusher. WestAuz drives into
Waigaoqiao Shipbuilding in China and is ex- All contracts are expected to generate Golden Swan
pected to be delivered in 2023. $129 million for MACA, which will utilise its
The fleet is expected to carry up to 5 mtpa, civil division to assist with delivery of the Kalgoorlie-based underground contrac-
transporting iron ore from Anglo American’s bulk earthworks. tor WestAuz Mining has been awarded the
operations in Brazil and South Africa to the highly sought Golden Swan drill drive con-
company’s global customer base. The new GWR gets going at C4 tract by Poseidon Nickel Ltd.
builds will be flagged and registered in Sin- WestAuz will develop the circa 400m drill
gapore, which will also serve as prime bun- GWR Group Ltd has formally executed drive from the existing Silver Swan decline
kering port, thereby avoiding deviations from an alliance mining contract with Pilbara to the emerging Golden Swan discovery to
trading routes for refuelling purposes. Resource Group Pty Ltd (PRG) for the facilitate resource definition and ongoing ex-
In October, Anglo American was among
the founding signatories of the Sea Cargo
Charter – created by some of the world’s
largest energy, agriculture, mining, and
commodity trading companies, with the
aim of establishing a standard methodology
and reporting framework to allow charterers
to measure and align their emissions from
ocean transportation activities.
Anglo American is also a member of the
Getting to Zero Coalition, an alliance com-
mitted to getting commercially viable deep
sea zero emission vessels powered by zero
emission fuels into operation by 2030, and a
partner of the Global Maritime Forum.
MACA has been awarded the EPC and bulk earthworks contracts for Red 5’s King of the
Hills gold project in WA



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Page 108 DeCeMBeR 2020 - JaNUaRY 2021 aUSTRaLIa’S PaYDIRT

ploration drilling. north-west Queensland was the first site
The drive, to be developed in compe- in the world to trial and adopt our wire-
tent footwall felsic rocks, will be positioned less explosives technology WebGen,”
about 200m from the known mineralisation Orica chief executive Alberto Calderon
and provide a platform for resource defini- said.
tion drilling of Golden Swan and additional “This deal shows Glencore’s confi-
exploration drilling of the highly prospective dence in our technology roadmap, as
Southern Terrace. well as aligning with their strategic vision
WestAuz was set to mobilise to Black for technology to deliver added value to
Swan at the time of print with the aim of mak- their operations.”
ing the first development cut in the new drive
in early December. Strandline turns on the
Poseidon plans to start resource definition
drilling on the Golden Swan mineralisation in power at Coburn
late Q1 2021.
Strandline Resources Ltd has taken
Fenix on the road to Glencore’s Ernest Henry mine was the first another important step towards develop-
ment of its Coburn mineral sands project
development site in the world to trial Orica’s fully wireless in Western Australia by appointing Con-
explosives technology WebGen tract Power Australia as preferred con-
Fenix Resources Ltd has awarded two tractor to build, own and operate (BOO)
key contracts for its Iron Ridge project in the requisite power generation facilities.
Western Australia’s Murchison region. Orica joins forces with Coburn’s purpose-designed power
The iron ore hopeful has executed a con- Glencore infrastructure is based on a low-cost,
tract for road transportation with Fenix Ne- low-emission solution integrating natural
whaul Pty Ltd (previously Premium Minehaul Orica has been awarded a five-year gas-fuelled generation with state-of-the-
Pty Ltd), an incorporated JV established to explosives technology contract for Glen- art solar and battery storage technology,
implement the strategic alliance between core’s Australian copper and zinc opera- enabling Strandline to capture energy
the company and Craig Mitchell, the founder tions. supply cost savings relative to the DFS
and former owner of major transport and lo- Beginning in January, Orica will de- published in June 2020.
gistics provider Mitchell Corp. liver the full suite of explosives technol- The power station will be located near
Fenix Newhaul has already ordered prime ogy and blasting services across multi- the mineral separation plant and de-
movers and trailers for the project and se- ple Glencore mines, including McArthur signed for a maximum demand capacity
cured funding for this specialist equipment River (Northern Territory), Lady Lorretta, of 16MW and average consumed power
through a manufacturer. Mount Isa Mines and Ernest Henry (all of about 10MW. Natural gas will be sup-
The contract is valued at $360 million for Queensland) and CSA (New South plied by others under an industry-stand-
the estimated six-year life-of-mine, based on Wales). ard long-term LNG supply agreement
a terminal gate diesel price of $1.34/L. Orica has an existing supply agree- and trucked to an on-site storage and
Fenix has also awarded an open-pit min- ment with Glencore’s nickel and cobalt re-vaporisation facility supplied by Con-
ing and crushing and screening contract to operations at Murrin Murrin in Western tract Power, a wholly owned subsidiary
MACA Ltd, valued at $185 million over the Australia. of Pacific Energy Ltd.
75-month term. The contract includes the supply of the Both parties will now compile final con-
MACA’s scope of work consists of open world’s first fully wireless initiating sys- tract documentation to the satisfaction of
pit mining services, including drilling and tem WebGen, as well as the BlastIQ dig- lenders. The contract will be based on
blasting and loading and hauling, as well as ital blast optimisation suite of products a 15-year BOO commercial model with
crushing, screening and stockpiling services and the Bulkmaster 7 smart explosives fixed and variable payment regime for
at the site. delivery system. power consumed over the term.
“Glencore’s Ernest Henry mine in






















+ 27 (0)11 028 1181 [email protected] www.nucleusml.co.za



aUSTRaLIa’S PaYDIRT DeCeMBeR 2020 - JaNUaRY 2021 Page 109

DRILL BITS www.capdrill.com www.capdrill.com





Bellevue growth top 20 largest movers in Deloitte’s WA In-
dex – November 2020.
far from over With a market cap of close to $1 billion,
Bellevue is now a top 20 ASX-listed re-
Recent infill drilling at the Deacon and sources company, according to Deloitte’s
Bellevue North lodes has resulted in a index.
20% increase in the indicated resource at
Bellevue Gold Ltd’s namesake project in
Western Australia. Confidence in
By adding a further 180,000oz gold, the Boda grows
indicated resource at Bellevue is now 1.04 Nic Earner
moz gold @ 11.4 g/t. Alkane Resources Ltd is growing in-
Drilling will continue with the latest up- creasingly confident that Boda is shaping
date cut off to enable economic studies to up to be a large, Tier 1 gold-copper por- Two conductive anomaly identified by 3D-
progress ahead of release in the March phyry project in central New South Wales. IP electrical geophysics, with significant
quarter. “The Boda prospect just keeps getting gold mineralisation indicative of a large
Meanwhile, exploration drilling has shift- bigger and bigger. We have extended the pyrite shell to another porphyry system
ed back to resource growth across the de- mineralisation to the north and to the south identified in KSDD022: 102m @ 0.22 g/t
posit at Viago North, Tribune North, Vlad, we have either an extension or a whole gold, 0.02% copper from 685m and 292m
Deacon North, Armand lodes, and the new system emerging,” Alkane managing @ 0.64 g/t, 0.02% from 867m, including
newly discovered Maceline lode, with four director Nic Earner said. 24m @ 1.81 g/t, 0.03% from 1,108m.
rigs on site and a fifth expected to arrive at The extension of mineralisation to the “We’ve mobilised a second diamond
the time of print. south was announced after assays from a drill rig to site and we are currently target-
The company reported that all lodes re- diamond hole 500m south of the original ing the identified high-grade areas, infill-
main open along strike. Boda gold-copper intersections was inter- ing the very long and deep mineralised
Bellevue’s sustained exploration suc- preted. system and testing identified anomalies at
cess saw it acknowledged as one of the The hole was designed to test the Boda Kaiser and, further to the south of Boda,




























Bellevue is now a top 20 ASX-listed resources outfit






Complete



Mining Services






Contact us to discuss your project [email protected] | www.capdrill.com




Page 110 DeCeMBeR 2020 - JaNUaRY 2021 aUSTRaLIa’S PaYDIRT

www.capdrill.com www.capdrill.com




an area about 5km in length.” cants were searching for battery metals, of Sams Creek, Sandfire will hold a 19.99%
The current 10-month drilling pro- with copper, rare earths, potash and gold cornerstone shareholding in Auris, which
gramme is expected to finish in May, with also popular among WA’s explorers. also has a large, prospective landholding
the next round of results to be released in Round 22 follows the WA Government’s in Western Australia’s Bryah Basin.
January. $5 million EIS funding boost as part of its Auris has completed due diligence on
WA Recovery Plan. The additional support Sams Creek and is currently undertaking
Battery metals drilling will increase the EIS to $15 million in 2020- exploration work at the project, which in-
cludes diamond drilling, funded by Sand-
21, resulting in extra funds being available
popular in WA across Rounds 22 and 23. fire.
The co-funded drilling programme en-
Ninety-six applicants have submitted courages innovative exploration in green-
proposals for Round 22 of the West Aus- fields and under-explored areas of WA. Rain, rain go away…
tralian Government’s Exploration Incentive The next round of the programme will Cohiba Minerals Limited reported that
Scheme (EIS) Co-funded Exploration Drill- open February 1, 2021. HWDD01 – the western-most drill target
ing Programme, the third-highest number in the Horse Well project area – has been
in a round since the scheme started in completed to a depth of 1,182.9m.
2009. Plenty to crow about at The core is being analysed in Adelaide,
A total of $6.38 million in grants is being Auteco with drilling at HWDD04 to a targeted
offered to 57 companies and prospectors depth of 1,200m under way at the time of
selected by the WA Government. Auteco Minerals Ltd has highlighted the print.
The WA Government reported that potential to increase the 1 moz inferred Drilling at HWDD04 was originally ear-
more than a quarter of successful appli- gold resource at the Pickle Crow project marked to take place ahead of HWDD01
in Ontario, Canada. Results of up to 17 but local flooding made the tracks impass-
g/t gold have been intersected outside the able.
current resource and new mineralised en- The unprecedented rainfall events and
velopes have been identified. with subsequent flooding meant drill core
Despite a slight delay in drilling due to from HWDD02 and HWDD03 was strand-
the availability of crews, the company is ed at the respective drill sites for several
forging ahead with its 45,000m diamond weeks.
drilling programme, with 58 holes and The core is currently being prepared for
12,927m completed by mid-November. delivery to ALS Laboratories, the company
With $31 million cash, the company is has prioritised the drill core from HWDD03
well funded to expand the current explora- (closest to Oak Dam West) which showed
tion programme. strong alignment to an IOCG environment
and visual evidence of sulphides (chalco-
Auris all fired up pyrite and molybdenite).
The analysis of core from HWDD02 will
Sandfire Resources Ltd has exercised primarily test the 208m intersection of py-
all Auris Minerals Ltd listed options it was ritic shale, which returned anomalous cop-
issued with as part of the upfront consid- per, lead and zinc values at the upper con-
eration related to the latter’s 80% acquisi- tact, when tested via hand-held XRF in the
tion of the Sams Creek gold project in New field. Cohiba said laboratory testing will be
Zealand’s South Island. needed to confirm the XRF results.
Subject to completion of the acquisition




Bellevue managing director Steve Parsons has put WA EIS funding to good use







Complete



Mining Services






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aUSTRaLIa’S PaYDIRT DeCeMBeR 2020 - JaNUaRY 2021 Page 111

coMInGs AnD GoInGs




nne Kabagambe has been ennis Wilkins has replaced non-executive director as the also chairman of Ramelius Re-
Aappointed to the board of DJulia Beckett as company nominee for cornerstone inves- sources Ltd and a non-executive
Barrick Gold Corp. Kabagambe secretary for European Metals tor Integra Capital. director at Mincor Resources
has 35 years of experience Holdings Ltd. NL.
spanning a diverse range of lackstone Minerals Ltd has
senior leadership positions in hristoph Frey has been ap- Bappointed several key man-
international institutions. Until re- Cpointed chief operating of- agement personnel to drive de-
cently, she was an executive di- ficer of Mineral Commodities velopment of its Ta Khoa project
rector of the World Bank Group, Ltd’s European-based graphite as a mine-to-market nickel busi-
representing the interests of 22 and anode division. A mining ness. Former GR Engineering
Sub-Saharan African countries, engineer who has worked ex- Services Ltd manager Andrew
including Tanzania and Zambia, clusively in the natural graphite Strickland has been appointed
where Barrick has gold and cop- industry for 27 years, Frey had head of project development,
per operations. been consulting to the company while experienced mine manag-
since April and has previously er Richard Kitchener is the new
ale Ginn has been appoint- worked with the likes of Magnezit general manager of operations. Hugh Warner
Ded managing director of Eu- Group Europe GmbH and Qing- The company has also promot-
ropean Cobalt Ltd following its dao Kropfmuehl Graphite Ltd. nor (project development) and A frican lithium developer
ed existing employees Steve En-
acquisition of the Edleston gold Prospect Resources Ltd
project in Canada. His prede- anuka Resources Ltd has Vu Hong Cam Van (commercial) is searching for a new chair-
cessor Robert Jewson has tran- Mappointed Rod Griffith as to general manager roles. man following the departure of
sitioned to the role of corporate project manager as the compa- long-serving incumbent Hugh
director. ny looks to transition from gold Warner, who filled the role for
production to silver operations eight years and led the compa-
xperienced SoP marketing over the next 6-8 months. Grif- ny’s move into Zimbabwe. Harry
Eadvisor Charles Carriere has fiths is well known in the NSW Greaves will be acting chairman
joined Agrimin Ltd to help final- resources sector, having previ- until a permanent replacement is
ise marketing and offtake agree- ously been chief operating of- found.
ments for the Mackay potash ficer at KBL Mining and general
project. manager, projects for Straits Re- empus Resources Ltd has
sources. Tappointed Tom Peregoodoff
as a non-executive director.
enjamin Bell has decided Based in Vancouver, he will as-
Bnot to seek re-election as a Neil Warburton sist the company with building
director of Norwest Minerals Ltd eil Warburton has retired up its local presence in Canada
at the company’s forthcoming Nfrom the board of IGO Ltd. as it pursues evaluation and
AGM. He was appointed a director in development of the Blackdome-
2015 following the company’s Elizabeth gold project in Brit-
ndiana Resources Ltd has ap- acquisition of Sirius Resources ish Columbia. Toronto-based
Ipointed David Williams as a and the then-undeveloped No- Anthony Cina has also joined
non-executive director. Williams va-Bollinger nickel project. the board as a non-executive
is the executive chairman of Pa- director ahead of the company’s
Peter Sullivan
tron Resources Ltd, from which ouston-based Patricia Mar- planned listing on the TSX-V and
eter Sullivan has joined the Indiana recently purchased two Htinez has been added to the will chair the Tempus audit com-
Pboard of Copper Mountain subsidiaries that hold substantial board of directors at lithium pro- mittee.
Mining Corp. Sullivan is the non- exploration ground in South Aus- ducer Orocobre Ltd.
executive chairman of ASX-listed tralia’s Gawler Craton. anjeev Kumar has been
resource investment company ango Mining Ltd has ap- Sadded to the board of Oman-
Zeta Resources Ltd and is also a avid Sumich has been ap- Vpointed Matthew Keegan focused Alara Resources Ltd.
director of Panoramic Resourc- Dpointed to the dual roles of as a non-executive director. His company, Tradexcel Global
es Ltd, GME Resources Ltd and chief operating officer and chief Keegan was formerly executive Pty Ltd, helps Australian and
Resolute Mining Ltd, where he financial officer at both Lindian chairman of CoalMont Pty Ltd New Zealand businesses ex-
was also previously managing Resources Ltd and Volt Re- and a founding director of Iron pand into overseas markets.
director and chief executive. He sources Ltd. Sumich was recent- Road Ltd. Meanwhile, execu-
replaces Alistair Cowden who ly part of the development and tive director Dr Zhenzhu (Carol) lex Hewlett and James
has resigned to focus on other production team for Rio Tinto Zhang has transitioned to a non- ACroser have been appoint-
interests in the sector. Ltd’s Marandoo iron ore expan- executive role with the company. ed directors of TNT Mines Ltd,
sion project in the Pilbara. Prior while Matthew Boyes is the com-
nna Neuling and Wayne to this he spent a decade in West ichael Bohm has been ap- pany’s new chief executive. Nick
ABramwell have been ap- Africa. Meanwhile, UK-based Mpointed chairman of Riedel Castleden will step down from
pointed non-executive directors Danny Keating has resigned as Resources Ltd as the nominee the TNT board upon finalisation
of CZR Resources Ltd, while chief executive of Lindian due to of Flagstaff Minerals (USA) Inc, of its acquisition of Warriedar
long-serving pair Adam Siera- travel restrictions imposed by the which owns the Kingsman gold- Mining Pty Ltd.
kowski and Stephen Lowe have COVID-19 pandemic. silver project in Arizona being
retired from the board. acquired by the former. Bohm is
ablo Tarantini has joined an experienced mining engineer
PLatin Resources Ltd as a and company director who is

Page 112 DeCeMBeR 2020 - JaNUaRY 2021 aUSTRaLIa’S PaYDIRT

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LeFtFIeLD




BOC gets




behind Redkite’s




‘$24FOR24’ BOC’s Michelle Blume and John Evans with Redkite’s
Tatiana Isaacs


eading gas and engineering company, week-long ‘$24FOR24’ kids cancer fund- powerful connection between our people
LBOC has made a significant financial raising campaign in November that urged and Redkite,” Blume said.
commitment to help Redkite meet an in- all Australians to donate $24 to help fami- Redkite chief executive Monique Keigh-
creasing demand for its services at a time lies facing childhood cancer get through ery said such strong showing of support
when the charity’s revenue has been dealt another challenging 24 hours. from BOC during the pandemic was very
a financial blow by COVID-19. BOC director, human resources Michelle welcome, reflecting the strong partnership
BOC has been a 22-year corporate Blume said the KiteTime initiative, which forged since 1998 when BOC made its first
partner of Redkite – an organisation which was launched in 2009 and gives staff the corporate donation to the organisation.
helps fund essential practical, emotional opportunity to take between two and eight “Since that time the partnership has re-
and financial support services to young hours leave, and donate the leave pay for sulted in almost $2.5 million going towards
children with cancer and their families – those hours to Redkite, has been a posi- the delivery of services to young Austral-
and has committed to contributing up to tive employee engagement programme. ians and their families, as they live through
$85,000 in dollar-matching community “It has been a tremendous part of the the challenges of childhood cancer,”
contributions to Redkite’s ‘$24FOR24’ kids great workplace culture of BOC. The pro- Keighery said.
cancer fundraising campaign. gramme has helped empower colleagues
BOC’s support kickstarted the charity’s and engage our senior leaders, creating a

InDeX Dampier 50 Lake 112 Predictive 70

97
8
De Beers
14
Prospech
Latin
De Grey 18, 28, 86 Lindian 112 Prospect 112
Adriatic 104-105 Deep Yellow 71 Liontown 96-97
Agrimin 16-17, 112 Desert 14 Lucapa 50 Ramelius 86, 112
Akora 14 Red 5 108
Alara 112 Endeavour 30, 69, 78 Mako 46 Reidel 112
Albemarle 106 Estrella 19 Manuka 112 Renascor 102
Alcoa 99 European Cobalt 112 Medusa 99 Resolute 33, 44, 69, 107, 112
Alkane 110-111 European Metals 112 Megado 74 Rio Tinto 48, 56, 75, 102, 112
Allied Gold 74 Evolution 8, 42 Minbos 73 Rincon 14
Alrosa 50 Mincor 112 Roxgold 72, 78
Altura 96-97 Fenix 109 Mineral Commodities 112
Anglo American 41, 48, 108 Firefinch 33, 42 Mineral Resources 96 Salt Lake 16-17
AngloGold 33, 42, 92 First Quantum 48 MMG 21 Sandfire 76, 111
Auris 111 Flagstaff 112 Monaghetti 36 Saracen 69, 84-85, 86
Aurumin 14 Fortescue 36, 89, 104 Shandong 33, 68, 69
Australian Potash 16-17 FYI 99 Native Mineral 13-15 Sipa 36, 75
Auteco 111 New Century 21 Strandline 109
Azure 19 Galaxy 96 Newcrest 15, 78
Gascoyne 8-10 Newmont 41 Technology Metals 100-101
B2Gold 30 Gibb River 18 Nordgold 33, 68, 69 Tempus 112
Barrick 8, 33, 42, 63, 69, 112 Gem Diamonds 50 North Stawell 13-14 Teranga 69, 78
Base 33, 34, 52, 56 Glencore 109 Northern Star 42, 69, 84-85, Tietto 58
Bass 71 GME 112 86, 94-95 TNG 101
Bellevue 28, 110-111 Gold Fields 54, 58 Norwest 112 TNT 112
BHP 12, 67, 72, 93 GWR 108 Trevali 107
Black Dragon 105 Orion 34, 40-41 Trigg 16-17
BlackEarth 71 Hancock Prospecting 86 Orocobre 96, 106, 112
Blackstone 98-99, 112 Oz 12 Vale 21
BMC 107 IGO 91, 92, 94-95, 107, 112 Vango 112
Iluka 67 Paladin 71 Venture 103
Cardinal 30, 33, 68, 69 Indiana 112 Panoramic 19, 112 Volt 112
Caspin 14 Ioneer 97, 106 Patron 112
Centamin 69 Iron Road 112 Perseus 27, 33, 44, 56, 60, WA Kaolin 14
Chalice 22, 28, 103 69, 99 Walkabout 63
Coda 12 Kalium Lakes 16-17 Piedmont 106 West African 26-31, 33, 44,
Cohiba 111 Kefi 74 Pilbara Minerals 94-95, 96 69, 78
Copper Mountain 112 Kingfisher 14 Podium 22-23 Westar 14
CZR 112 Poseidon 19, 108-109 Western Areas 88, 92



Page 114 DeCeMBeR 2020 - JaNUaRY 2021 aUSTRaLIa’S PaYDIRT

ASX : VMS









A successful explora on company leveraged

to mul ple commodi es including near
produc on Iron Ore Mine, a well advanced EV

Metal (Tin) and Cri cal Minerals (Tin & Tungsten) opportunity, a JV with

Chalice for Ni-Cu-PGE and four high priority Zn-Cu-Au drill targets along

strike to the Golden Grove Mine.





Wet screening plant under construc on at

the Riley Iron Ore Mine;

Maiden drill program at the Golden Grove
North Project has commenced with a RC
drilling campaign of at least 13 holes for
2,500 metres, tes ng four recently

delineated priority Volcanic Massive
Sulfide (VMS) targets;

One of the VMS drill targets “Number One”
(recently acquired by Venture) already

boasts a VMS style drill intersec on of 22m
@ 0.76 g/t Gold, 0.64% Copper & 1.3% Zinc Dry Screening Operations at the Riley Mine
from 38m to bo om of hole that sits on
trend between the high priority VMS drill
targets of Vulcan North and Vulcan West;


Chalice to earn-in on Julimar look-a-like in
the South-West Project;

Mount Lindsay Tin-Tungsten Project is one
of the largest undeveloped n deposits in

the world;

Efficient, highly creden aled and dedicated
management team.



Drilling at Golden Grove North



www.ventureminerals.com.au
Suite 3, Level 3, 24 Outram Street, West Perth, WA, 6005
T: +61 8 6279 9428: +61 8 6500 9986
E: [email protected]

ODYSSEUS




A new nickel mine on the horizon




















































































westernareas.com.au


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