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Ontenu Central Exploration Update: South Pacific Metals Extends Ontenu Central Mineralization over 1km in Preparation for Drill Program
Newsfile· 2025-07-28 11:30
Core Insights - South Pacific Metals Corp. is expanding mineralization at the Ontenu Central Prospect, part of the Osena Project, with a trenching and soil sampling program ahead of an imminent drilling campaign [1][3][5] Exploration and Drilling Plans - The company is preparing for drilling in the Westside Corridor at Ontenu Central, where mineralization continuity has been demonstrated over 1,000 meters with widths up to 80 meters [3][5] - The exploration program aims to connect various parts of the Ontenu area, indicating a large interconnected mineralization area of over 5 km by 3 km [3][5] - Drilling is expected to commence within weeks as the drill rig has arrived and is being commissioned [5][10] Trenching Results - The 2025 trenching program has yielded significant results, including: - 5 meters at 2.53 g/t Au within 87 meters at 0.41 g/t Au in trench ONT25TR-001 - 1 meter at 5.05 g/t Au within 50 meters at 0.35 g/t Au in trench ONT25TR-003 - 2 meters at 2.62 g/t Au within 30 meters at 0.46 g/t Au in trench ONT25TR-002, extending trench 1 to a total of 109 meters at 0.67 g/t Au [5][6][10] - The overall footprint of gold in soil anomalies now covers a 3 km by 5 km area, with significant geochemical signatures similar to K92 Mining's operations [5][12] Geological Context - Ontenu is located in the Kainantu Transfer Zone, which hosts the Kora-Judd vein system currently being mined by K92 Mining [5][19] - The mineralization is characterized by high-sulphidation epithermal Au-Cu targets, with strong associations of Au-Cu-Te-As [6][11] Regional Exploration - Ongoing reconnaissance and soil sampling at Ontenu Northeast have identified structures with previous results showing up to 10.3% Cu and 1.7 g/t Au [5][13] - The Osena Project covers 738 km² and is strategically located adjacent to K92 Mining's tenements, indicating potential for significant mineral discoveries [16][20]
South Pacific Metals Appoints Timo Jauristo as CEO
Newsfile· 2025-07-02 11:30
Company Overview - South Pacific Metals Corp. (SPMC) has appointed Mr. Timo Jauristo as Chief Executive Officer, effective June 30, 2025 [1] - The company operates in Papua New Guinea's gold and copper production corridors, with a land package of 3,100 km² and four key projects: Anga, Osena, Kili Teke, and May River [6][7] Leadership Experience - Mr. Jauristo brings over 40 years of leadership experience in the mining sector, having previously served as Executive Vice President of Corporate Development at Goldcorp Inc. [2] - His past roles include senior executive positions at Placer Dome and other leading mining firms, focusing on global exploration and corporate strategy [2] Strategic Initiatives - The company is initiating its maiden drill program at the Osena project, with Mr. Jauristo expressing enthusiasm about leading the company during this pivotal time [3] - The company aims to advance its Osena and Anga Gold-Copper Projects and mobilize for drilling at the Ontenu Target, which is considered a significant milestone [3] Stock Options and RSUs - Effective June 30, 2025, SPMC granted stock options and awarded restricted share units (RSUs) to directors and officers, totaling 1,200,000 common shares [3] - The stock options consist of 200,000 options with an exercise price of $0.49, vesting over three years [4] - An additional 1,000,000 RSUs were awarded, also vesting over three years [5] Project Potential - The Anga and Osena Projects are located in the high-grade Kainantu Gold District, with potential for lode-gold and porphyry copper-gold mineralization [7] - Kili Teke is an advanced exploration project near the Porgera Gold Mine, with existing Inferred Mineral Resource and opportunities for expansion [7] - The May River Project is adjacent to the Frieda River copper-gold project, indicating potential for significant untapped gold mineralization [7]
South Pacific Metals Announces Management Change
Newsfile· 2025-06-16 11:30
Core Viewpoint - South Pacific Metals Corp. announces the resignation of Ms. Cathy Fitzgerald as an officer and director, effective July 11, 2025, highlighting her significant contributions to the company's growth and strategic direction [1][2]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects: Osena, Anga, Kili Teke, and May River [4][5]. - The company is strategically located near major producers such as K92 Mining, PanAust, and Barrick/Zijin, focusing on rigorous technical programs to prioritize discovery [4][5]. Leadership Transition - Ms. Cathy Fitzgerald has played a pivotal role in shaping the company's exploration strategy and advancing key projects, with her leadership being crucial during a transformative period [2][3]. - Michael Murphy, Executive Chair of the Board, expressed gratitude for Fitzgerald's contributions and announced plans to oversee the launch of the company's inaugural drill program at the Osena Gold-Copper Project in Papua New Guinea [3]. Upcoming Initiatives - The company is set to commence its maiden drill campaign at the Osena Gold-Copper Project later this month, which is located in the Kainantu Gold Region [3].
South Pacific Metals Announces Appointment of Timo Jauristo as Strategic Advisor
Newsfile· 2025-06-04 11:30
Core Viewpoint - South Pacific Metals Corp. has appointed Mr. Timo Jauristo as a Strategic Advisor, bringing over 40 years of mining industry experience to the company, which is crucial as it enters a significant exploration phase [1][2][3] Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea, with a land package of 3,100 km² and four key projects [4][6] - The company is strategically located near major producers such as K92 Mining and PanAust, enhancing its exploration potential [7] Leadership and Experience - Mr. Timo Jauristo has a notable background, having served as Executive Vice President of Corporate Development at Goldcorp Inc. and held senior roles at Placer Dome and other major mining companies [2] - His extensive experience in global exploration and project development is expected to benefit South Pacific Metals as it advances its projects [2][3] Strategic Initiatives - The company is focusing on its Osena and Anga Gold-Copper Projects, which are located in the Kainantu Gold District, known for high-grade mineralization [3][7] - Mr. Jauristo's involvement is seen as a key factor in unlocking the potential of these assets [3] Share Options - Mr. Jauristo has been granted 500,000 share options at a price of C$0.50 per share, exercisable for five years, with a vesting schedule over three years [3]
Will Sound Point Meridian Capital, Inc. (SPMC) Beat Estimates Again in Its Next Earnings Report?
ZACKS· 2025-05-16 17:11
Core Insights - Sound Point Meridian Capital, Inc. (SPMC) has a strong track record of exceeding earnings estimates, particularly in the last two quarters, with an average surprise of 26.94% [1][5] - The company reported earnings of $0.62 per share for the most recent quarter, surpassing the expected $0.51 per share by 21.57%, and previously reported $0.86 per share against an estimate of $0.65 per share, resulting in a surprise of 32.31% [2] Earnings Performance - The positive earnings surprise history has led to an upward trend in earnings estimates for Sound Point Meridian Capital, indicating bullish sentiment among analysts [5] - The company currently has an Earnings ESP (Expected Surprise Prediction) of +3.33%, suggesting potential for another earnings beat in the upcoming report [8] Zacks Rank and Predictive Power - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) indicates a high likelihood of a positive earnings surprise, with historical data showing that nearly 70% of stocks with this combination beat consensus estimates [6][8] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, reflecting the latest analyst revisions which may provide more accurate predictions [7]
South Pacific Metals Provides Project Updates and Announces Diamond Drill Rig Purchase to Accelerate Gold and Copper Exploration
Newsfile· 2025-04-08 11:30
Core Viewpoint - South Pacific Metals Corp. has acquired a man-portable diamond drill to enhance its gold and copper exploration efforts in Papua New Guinea, following a successful financing of C$6.3 million, which positions the company to advance its projects more aggressively [1][3]. Drill Rig Acquisition - The MultiPower MP500 Diamond Core Drill will facilitate early-stage target testing of high-grade gold and copper structures, with drilling expected to commence shortly after the equipment's arrival at the end of May [2]. - Dean Williamson, a former exploration operator from K92 Mining Inc., will lead the in-country drill crew for the 2025 drilling campaign [2]. Project Updates Osena Project - Focus is on the Ontenu Cu-Au Prospect, a large-scale copper-gold porphyry complex, with field sampling underway at Ontenu NE, which may host lode-gold style mineralization [4]. - Recent trench results from Ontenu Central include 79 meters averaging 0.75 g/t Au, with notable samples reaching up to 8.82 g/t Au [4]. Anga Project - Detailed soil grid sampling at the Irinke Prospect has defined a 2 km-wide mineralized corridor, similar to K92's Arakompa Discovery [5]. - A geochemical study confirmed the Arakompa-like signature of the Irinke target, indicating further mineralization potential [5]. Kili Teke Project - The project has an Inferred Mineral Resource of 1.81 million ounces of gold and 802,000 tonnes of copper, with significant exploration opportunities [7]. - Recent drilling by the previous operator returned high-grade results, including 12.98% Cu and 11.75 g/t Au over 7.8 meters [8]. May River Project - The Skygate Cu-Au Trend, including the Skiraisa Gold Breccia Prospect, has been prioritized for exploration, with historical drilling intercepts showing promising results [9]. - The Ufuo Prospect has also demonstrated high-grade polymetallic potential, with historical results including 19 meters at 11.47% Cu [9]. Company Overview - South Pacific Metals Corp. operates across a 3,100 km² land package in Papua New Guinea, focusing on gold and copper exploration in proximity to major producers [11][12]. - The company aims to leverage its strong treasury and experienced teams to drive discovery across its portfolio of projects: Osena, Anga, Kili Teke, and May River [11].
South Pacific Metals Successfully Completes Warden's Hearing on Renewal of Exploration Licence for Kili Teke Copper-Gold Project
Newsfile· 2025-03-31 11:30
Core Viewpoint - South Pacific Metals Corp. has successfully completed the Warden's Hearing for the renewal of Exploration License EL 2310 for the Kili Teke Copper-Gold Project in Papua New Guinea, which hosts significant inferred mineral resources [2][3]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company with a land package of 3,100 km² in Papua New Guinea, focusing on responsible exploration and community engagement [10][12]. - The company is committed to ethical and environmentally sustainable practices in its exploration activities [6]. Project Details - The Kili Teke Project covers an area of 253 km² and is located approximately 40 km west of the Porgera Gold Mine, with an inferred mineral resource of 1.81 million ounces of gold, 802 thousand tonnes of copper, and 40 thousand tonnes of molybdenum [2][4][8]. - The project was acquired from Harmony Gold Exploration Limited in 2023, which had previously conducted extensive exploration, including 36,000 meters of diamond drilling at an estimated cost of US$20 million [4][8]. Exploration and Development - The Warden's Hearing for the renewal of EL 2310 took place on March 11, 2025, with support from local landowners and community stakeholders [3]. - Recent exploration efforts have identified 10 new targets near the Central Porphyry, with various mineralization styles, including bulk-tonnage copper-rich and high-grade skarn targets [5][6]. - The company is currently focused on landowner mapping and community engagement to prioritize high-grade skarn and Porgera-style gold discoveries [6]. Technical Information - The Central Porphyry hosts an inferred mineral resource of 1.81 million ounces of gold, 802 thousand tonnes of copper, and 40 thousand tonnes of molybdenum, with a total of 237 million tonnes at grades of 0.34% copper, 0.24 g/t gold, and 168 ppm molybdenum [2][8]. - Historical drilling has shown high-grade results, including 12.98% copper and 11.75 g/t gold over 7.8 meters [5].
The Tide Is Changing, Be Prepared With CLOs To Keep The Income Streaming In
Seeking Alpha· 2025-03-05 13:56
Core Viewpoint - The stock market experienced a significant bull run from late 2022 through the end of 2024, primarily driven by the "Magnificent Seven" stocks, also referred to as Mag 7 stocks [1] Group 1: Market Trends - The bull run was characterized by a strong performance of high-yield income stocks and funds, including Business Development Companies (BDCs), Real Estate Investment Trusts (REITs), Closed-End Funds (CEFs), and Exchange-Traded Funds (ETFs) [1] - The article highlights the importance of understanding market psychology alongside financial metrics, indicating a dual focus on behavioral and financial analysis in investment strategies [1] Group 2: Investment Strategy - The focus is on income-oriented investing, particularly in dividend-paying stocks, to enhance retirement income beyond traditional sources like pensions and Social Security [1] - The narrative emphasizes the need for individual investors to conduct their own due diligence before making investment decisions, reflecting a cautious approach to stock market participation [1]
SPMC: Outperformance And Income Growth Catalysts For This 13.7% Yielding CEF
Seeking Alpha· 2025-03-05 09:47
Group 1 - The article provides an update on the CLO Equity CEF Sound Point Meridian Capital (NYSE: SPMC) following the release of its Q4 numbers [1] - It discusses the broader sector related to CLO Equity CEFs, indicating a focus on market trends and performance [1] - The article encourages exploration of Systematic Income and their Income Portfolios, which are designed with yield and risk management in mind [1] Group 2 - The article mentions the availability of Investor Guides for CEFs, Preferreds, and PIMCO CEFs, suggesting resources for investors [2] - It promotes a no-risk trial for potential investors, highlighting a 2-week free trial offer [2]
South Pacific Metals Announces Commencement of 2025 Gold-Copper Exploration Programs Following Successful Financing
Newsfile· 2025-02-18 22:35
Core Viewpoint - South Pacific Metals Corp. has successfully closed a C$6.3 million financing, enabling the company to advance extensive exploration programs across its four gold-copper projects in Papua New Guinea [1][3]. Exploration Activities - Upcoming exploration activities at the May River, Osena, Anga, and Kili Teke Projects will include systematic sampling, trenching, and drilling to define and expand the mineral potential of each property [2]. - The exploration programs aim to build on existing geological data, confirm high-priority targets, and advance the projects toward potential resource delineation [2]. Financial Backing and Strategy - The company is poised to move forward with its exploration strategy, having secured full financial backing, which allows for aggressive advancement of its projects [3]. - Surface exploration programs will continue to identify additional targets, while drilling will focus on high-potential areas confirmed in the previous year [3]. Investor Relations - The company has engaged Danayi Capital Corp. to provide investor relations and digital marketing services, subject to acceptance by the TSX Venture Exchange [4]. - The services will include digital media, marketing strategies, and advertising for a fee of US$50,000 for one trial month, with the option to extend the agreement [5]. Company Overview - South Pacific Metals Corp. is an emerging gold-copper exploration company operating in Papua New Guinea's proven gold and copper production corridors, with a 3,100 km² land package [6]. - The company’s projects are strategically located near major producers, with Anga and Osena Projects flanking K92's operations, and Kili Teke situated near the Porgera Gold Mine [7].