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Tharisa plc - Special Call
Seeking Alpha· 2025-10-03 23:32
Core Viewpoint - The company is transitioning from open cast mining to underground mining as it depletes its open pit resources, which has been a planned strategy for several years [3]. Group 1: Transition to Underground Mining - The company has been an open cast miner for the last 15 years and is now moving to underground mining, starting with the west mine [3]. - This transition is seen as an opportunity to redefine resources, innovate, and empower future operations [3]. Group 2: Integrated Mining Vision - The company aims to unlock multigenerational value through a fully integrated mining complex, which includes the co-production of Platinum Group Metals and chrome concentrate [5]. - The company has remained profitable over the last 11 years despite facing volatile commodity markets and geopolitical challenges [5].
New Age Metals Options Bonanza Gold Project, Kenora Gold District, Ontario
Thenewswire· 2025-10-01 12:30
Core Viewpoint - New Age Metals Inc. has entered into an option agreement for the Bonanza Gold Project, which consists of 114 mining claims and 1 patented mining claim totaling 2,191 hectares, located near Kenora, Ontario, providing an opportunity to leverage modern exploration techniques in a historically under-explored area [1][2][3]. Group 1: Project Details - The Bonanza Gold Project is situated approximately 25 km southeast of Kenora and encompasses a total area of 2,191 hectares or 5,414 acres [1]. - The company has the option to acquire 100% of the project, subject to a 2% royalty, which can be reduced to 1% for a payment of $1 million [1][9]. - The project has shown high-grade mineral occurrences, with surface grab sample assays revealing gold grades up to 127 g/t [6][14]. Group 2: Market Context - The gold price is currently near historic highs, trading at approximately US$3,830 (C$5,330), which has led to increased global demand for gold [5]. - The Kenora District has seen limited modern exploration, presenting an opportunity for New Age Metals to unlock significant value through advanced exploration techniques [2][7]. Group 3: Corporate Strategy - The company aims to assemble a district-scale gold asset in Kenora to attract major gold producers, leveraging the current cash-rich environment of these companies [2]. - New Age Metals has diversified its mineral portfolio, focusing on critical metals including gold, antimony, lithium, and platinum group metals [4][23]. Group 4: Financial Commitments - The option agreement includes a series of cash payments and share issuances to the prospectors, with specific milestones tied to exploration expenditures [8][10]. - Contingent milestone payments of $250,000 are set for the completion of NI 43-101 compliant reports outlining significant gold resources [9]. Group 5: Exploration and Development - A due diligence site visit confirmed the presence of high-grade gold mineralization across multiple prospects within the project [11][12]. - The project is drill-ready with three-year permits in place, indicating readiness for immediate exploration activities [6].
New Age Metals Announces $3,500,000 Financing with Additional Investment from Eric Sprott
Thenewswire· 2025-09-25 12:30
Core Viewpoint - New Age Metals Inc. is initiating a non-brokered private placement offering to raise up to $3,500,000, with significant participation from major shareholder Eric Sprott [1][2][5]. Group 1: Private Placement Details - The private placement consists of up to $2,300,000 in units priced at $0.22 each and up to $1,200,000 in flow-through units priced at $0.26 each [1]. - Each unit includes one common share and one-half of a common share purchase warrant, with the whole warrant allowing the purchase of an additional common share at $0.40 for up to 36 months [2]. - Each flow-through unit consists of one common share qualifying as a flow-through share and one-half of a flow-through unit warrant, with similar warrant terms as the standard units [3]. Group 2: Use of Proceeds - Proceeds from the flow-through units will be allocated for exploration and development of projects in Newfoundland, Ontario, or Manitoba, while proceeds from the standard units will be used for exploration and general working capital [4]. Group 3: Management and Strategic Outlook - The Chairman & CEO expressed confidence that the investment from Sprott and new mining funds will support the development of existing projects and facilitate aggressive acquisition strategies [5]. - The company is actively seeking new mineral acquisition opportunities internationally and aims to partner with major and junior mining companies [16]. Group 4: Company Overview - New Age Metals is focused on the exploration and development of critical green metal projects in North America, with divisions in Platinum Group Elements, Lithium/Rare Elements, and Antimony-Gold [8]. - The company holds significant projects, including the River Valley Project, one of North America's largest undeveloped Platinum Group Element projects, and a substantial lithium claim in the Winnipeg River Pegmatite Field [9][10].
Magna Mining Announces Closing of Brokered Offering of Common Shares for Gross Proceeds of Approximately $50 Million
Newsfile· 2025-09-19 14:20
Core Viewpoint - Magna Mining Inc. has successfully closed a brokered offering of common shares, raising approximately $50 million in gross proceeds, which will be utilized for advancing its properties and for general expenses [1][4]. Group 1: Offering Details - The offering consisted of 20,833,300 common shares sold at a price of $2.40 per share [1]. - The offering was facilitated by a syndicate of agents led by Canaccord Genuity Corp., Desjardins Capital Markets, and SCP Resource Finance LP, among others [2]. - The net proceeds will be allocated to advance the Company's existing properties in Sudbury, Ontario, and for general administrative expenses [4]. Group 2: Financial Aspects - The Company paid the agents a cash commission totaling $2,037,962.40 and an additional finder's fee of $225,000 [4]. - The offering was completed under the "listed issuer financing" exemption, meaning the shares are not subject to a hold period under Canadian securities laws [3]. Group 3: Company Overview - Magna Mining Inc. operates in the Sudbury mining district of Ontario, focusing on copper, nickel, and platinum group metals [6]. - The primary asset is the McCreedy West Mine, which is currently in production, supported by other past-producing properties [6]. - The Company aims to unlock long-term shareholder value through production and exploration opportunities [8].
Plato Gold Announces Results of Drill Program at Lolita Project, Santa Cruz, Argentina
Globenewswire· 2025-09-12 11:30
Core Viewpoint - Plato Gold Corp. has announced the results of its drilling program at the Lolita Project in Santa Cruz, Argentina, revealing non-economic gold and silver values but significant anomalous pathfinder elements [1][4][11]. Drilling Program Summary - Drilling commenced in May and concluded by mid-June, totaling 1,585 meters across 12 holes, with lengths ranging from 74 to 242 meters [2]. - The program was completed within the projected budget [2]. Sample Results - Results from 299 samples, including quality control samples, have been reviewed and passed by the Qualified Person [3]. - Maximum values recorded in drill core include 15 parts per billion of gold and 5.8 parts per million of silver, with arsenic at 1,059 ppm, antimony at 230 ppm, mercury at 15 ppm, and sulfur at 1.7 percent [4]. Geological Findings - Drill holes at Panza and Corazon intersected silica veinlets and hydrothermal breccias within a specific stratigraphic unit of competent, felsic volcanic rock, possibly an ignimbrite [4]. - Anomalous mineralization appears to be stratigraphically controlled rather than influenced by steep structures, with significant volumes of alteration and mineralization lacking precious metals [6][7]. Anomalous Element Values - Selected anomalous pathfinder element values include: - Panza LO-25-003: 25.35 m interval with 395 ppm arsenic and 0.69% sulfur [8] - Panza LO-25-009: 37.90 m interval with 308 ppm arsenic and 0.66% sulfur [8] - Corazon LO-25-011: 37.30 m interval with 166 ppm arsenic and 0.42% sulfur [8] - Corazon LO-25-012: 45.00 m interval with 237 ppm arsenic and 0.64% sulfur [8] Future Considerations - The geological occurrence of these mineralization zones is atypical for the Deseado Massif, and the significance of these findings will be further studied by the company [11].
Plato Gold Announces Results of Drill Program at Lolita Project, Santa Cruz, Argentina
Globenewswire· 2025-09-12 11:30
Core Viewpoint - Plato Gold Corp. has announced the results of its drilling program at the Lolita Project in Santa Cruz, Argentina, revealing non-economic gold and silver values but significant anomalous pathfinder elements. Drilling Program Summary - Drilling commenced in May and was completed by mid-June, totaling 1,585 meters drilled across 12 holes, with lengths ranging from 74 to 242 meters [2] - The program was completed within the projected budget [2] Sample Results - Results from 299 samples, including quality control samples, have been reviewed and passed by the Qualified Person [3] - Maximum values recorded in drill core include 15 parts per billion of gold and 5.8 parts per million of silver, with arsenic at 1,059 ppm, antimony at 230 ppm, mercury at 15 ppm, and sulfur at 1.7 percent [4] Geological Findings - Drill holes at Panza and Corazon intersected silica veinlets and hydrothermal breccias within a specific stratigraphic unit of competent, felsic volcanic rock [4] - Anomalous mineralization appears to be stratigraphically controlled rather than by steep structures, with significant volumes of alteration and mineralization lacking precious metals [6][7] Anomalous Element Values - Selected anomalous pathfinder element values include: - Panza LO-25-003: 25.35m interval with 395 ppm arsenic and 0.69% sulfur [9] - Panza LO-25-009: 37.90m interval with 308 ppm arsenic and 0.66% sulfur [9] - Corazon LO-25-011: 37.30m interval with 166 ppm arsenic and 0.42% sulfur [9] - Corazon LO-25-012: 45.00m interval with 237 ppm arsenic and 0.64% sulfur [9] Future Considerations - The geological occurrence of mineralization zones with anomalous pathfinder elements is atypical for the Deseado Massif, and the significance of these findings will be further studied by the company [12]
Magna Mining Announces Grants of Security-Based Compensation
Newsfile· 2025-09-04 11:00
Core Points - Magna Mining Inc. has announced grants of security-based compensation to non-executive directors effective September 4, 2025 [1] - The grants are made under the Company's omnibus equity incentive plan, which was approved by shareholders on June 26, 2025 [2] - The Omnibus Plan is a "rolling" 10% plan, allowing for the issuance of options, restricted share units, performance share units, and deferred share units, with a maximum of 10% of total issued and outstanding common shares reserved for such grants [2][3] Compensation Details - A total of 44,073 deferred share units were granted to non-executive directors, vesting upon retirement from the Board and entitling holders to receive one common share [7] - Additionally, 278,363 options were granted, vesting immediately and exercisable at an exercise price of $2.70 per common share for five years from the grant date [7] Company Overview - Magna Mining Inc. is a producing mining company with a portfolio of copper, nickel, and platinum group metals assets located in the Sudbury mining district of Ontario, Canada [5] - The primary asset is the McCreedy West Mine, currently in production, supported by other past-producing properties including Levack, Crean Hill, Podolsky, and Shakespeare [5] - The company aims to unlock long-term shareholder value through continued production, exploration, and near-term development opportunities [6]
Magma Mining Inc. Second Quarter Financial Results - Conference Call & Webcast
Newsfile· 2025-08-25 11:00
Core Insights - Magna Mining Inc. is set to release its Q2 2025 financial results and MD&A on August 27, 2025, with a conference call scheduled for August 28, 2025, at 8:00 am EDT [1] - The company operates in the Sudbury mining district of Ontario, Canada, focusing on copper, nickel, and platinum group metals (PGM) [2] - Magna Mining's primary asset is the McCreedy West Mine, which is currently in production, along with several other past-producing properties [2][3] Company Overview - Magna Mining Inc. is a producing mining company with a strong portfolio of assets in a world-class mining district [2] - The company aims to unlock long-term shareholder value through production, exploration, and development opportunities [3] - Additional corporate and project information can be found on the company's website and public filings [3]
Plato Gold Reports on Second Quarter Results
Globenewswire· 2025-08-21 11:30
Core Viewpoint - Plato Gold Corp. reported its financial results for the six and three months ended June 30, 2025, showing no income and significant net losses compared to the same periods in 2024 [1]. Financial Summary - For the six months ended June 30, 2025, the company reported no income, a net loss of $1,189,034, and a comprehensive loss of $1,195,228, compared to a net loss of $95,823 and a comprehensive loss of $95,823 for the same period in 2024 [1]. - For the three months ended June 30, 2025, the company again reported no income, a net loss of $1,159,065, and a comprehensive loss of $1,165,259, compared to a net loss of $43,159 and a comprehensive loss of $43,159 for the same period in 2024 [1]. - The loss per common share for both the six and three months ended June 30, 2025, was $0.01, while it was $0.00 for the same periods in 2024 [1]. - The weighted average number of common shares outstanding for the six months ended June 30, 2025, was 230,665,717, compared to 228,649,233 for the same period in 2024 [1]. Company Overview - Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange, with projects located in Timmins, Ontario, and Santa Cruz, Argentina [3]. - The Timmins project includes four properties: Guibord, Harker, Holloway, and Marriott, focusing on gold exploration [3]. - In Argentina, the company holds a 95% interest in Winnipeg Minerals S.A., which has mineral rights totaling 9,672 hectares with potential for gold and silver [4]. - The Good Hope Niobium Project covers approximately 6,035 hectares near Marathon, Ontario, targeting niobium [4]. - The Pic River Platinum Group Metals Project consists of 2,352 hectares near Marathon, with claims contiguous to Generation Mining's Marathon PGM project [5].
Magna Mining Intersects Near Surface Contact Nickel Mineralization Grading 2.3% Ni, 0.7% Cu Over 28.0 metres at the Levack Mine
Newsfile· 2025-08-19 11:00
Core Viewpoint - Magna Mining Inc. has reported promising initial assay results from the Levack Mine, indicating significant nickel and copper mineralization, which supports the ongoing restart study of the mine [1][3]. Exploration Results - The assay results from drillhole MLV-25-21 show 2.3% Ni and 0.7% Cu over 28.0 metres, with higher grades of 6.6% Ni and 0.7% Cu over 2.4 metres, and 3.3% Ni and 1.0% Cu over 12.4 metres [2][3]. - Drillhole MLV-25-22 reported 2.4% Ni and 0.8% Cu over 15.5 metres, with additional intersections showing 3.2% Ni and 2.2% Cu over 1.9 metres [2][3]. Drilling Operations - Two surface diamond drills are currently operational at the Levack Mine, focusing on near-surface infill and metallurgical drillholes, as well as exploring the footwall environment [4][5]. - An underground diamond drill is set to begin operations within the current quarter, with a second expected to start in Q4, targeting areas below the No. 3 zone and east of the Fecunis fault [7]. Future Plans - The drilling aims to provide data necessary for advancing the Levack restart study and to support a higher level of geological confidence for the upcoming Mineral Resource Estimate [3][5]. - The company plans to follow up on exploration once underground drilling is underway, particularly in areas with historical high-grade intersections [7]. Company Overview - Magna Mining Inc. is a producing mining company with a portfolio of copper, nickel, and platinum group metals assets located in the Sudbury mining district of Ontario, Canada [20]. - The company's primary asset is the McCreedy West Mine, currently in production, supported by a pipeline of prospective properties including Levack, Crean Hill, Podolsky, and Shakespeare [20][21].