Emmerson Resources’ JV partner has begun construction of its gold facility at the Nobles project near Tennant Creek
Lithium Plus is also NT focused and is making steps towards production from its significant Lei deposit
South Harz Potash is up after receiving its Raumverträglichkeitsprüfung – that’s not a typo, keep reading to sate your curiosity.
Here are some of the biggest resources winners in early trade, Monday June 17.
Emmerson Resources (ASX:ERM)
Gold and copper explorer Emmerson’s share price, ERM, has burst more than 20% at the time of writing thanks to fresh news regarding its Nobles CIL gold processing facility.
The facility has now begun construction near Tennant Creek in the Northern Territory by Emmerson’s Joint Venture partner Tennant Consolidated Mining Group, with the 840,000tpa gold processing facility’s components relocated from Cloncurry in Queensland. They’re now being put together at the Nobles project area.
Emmerson notes the project is expected to generate about 80 jobs during construction and more than 160 jobs after operations ramp up with commissioning of the facility planned for Q2 of 2025.
Commercial production is then scheduled to happen in Q4 2025, with Tennant Mining initially focusing on processing existing stockpiles and tailings at the Noble open pit complex then planning to develop other open cut and underground mines in the Tennant Creek Mineral Field.
The deal for Emmerson is a 6% gross production royalty on any gold produced from the JV tenements.
Emmerson’s chairman, Andrew Mcllwain said:
“Tennant Mining’s central processing facility is the long-awaited key to unlocking the development of resources and restarting larger scale mining production across the high-grade Tennant Creek Mineral Field.
“As always envisaged, the future restart of gold production from Emmerson’s assets provides a low risk return for Emmerson’s shareholders through the 6% gross production royalty payable on gold produced.”
Recently, Emmerson Resources delivered a high-grade resource for its Eldorado gold deposit, just 4km south of Tennant Creek, boosting it to 2.27Mt at 5.2g/t for 376,600oz of gold.
The high-grade gold Resources continue to grow with a Maiden MRE for the Eldorado Deposit:
445kt @ 4.9g/t for 69.8koz
Indicated: 277.5kt @ 6.2g/t
Inferred: 167.2kt @ 2.6g/t
This boosts to 2.27Mt @ 5.2g/t for 376.6koz of gold.
https://t.co/zz2Rwx7bYR$ERM pic.twitter.com/UgvJsEANgB
— Emmerson Resources (@Emmerson_ERM) June 12, 2024
Lithium Plus Minerals (ASX:LPM)
NT-focused lithium explorer LPM may not be having the greatest year share-price-wise, but its put itself nicely in the spod…light today with a 25% gain.
The company, which is also in the great Aussie uranium and REE hunt, has news.
It’s lodged a Mining Lease Application for the future development of its wholly owned Lei Lithium deposit, which is considered one of Australia’s highest-grade lithium discoveries.
Lei, within the company’s Bynoe project, is located roughly 71 kilometres south of Darwin by road and currently has a Mineral Resource Estimate of 4.09 million tonnes at 1.43% Li2O.
A technical de-risking work program is currently in progress, which includes environmental studies, and metallurgical testing. Results related to this are expected to be revealed some time in Q3 2024.
LPM’s executive chairman, Dr Bin Guo, said:
“The submission of this Mining Lease application marks another significant milestone for our company which further advances the Lei project toward production.
“The Mining Lease Application is a critical path item for the establishment of what would be a second lithium mine in the Bynoe area.”
The Bynoe project is on the Cox Peninsula, on the northern end of the Litchfield Pegmatite Belt. It shares a border with Core Lithium’s Finniss mine development, which contains a mineral resource of 48.2Mt at 1.26% Li2O, but has been troubled this year after mining was curbed in response to falling spodumene prices.
South Harz Potash (ASX:SHP)
And now for something completely different, let’s talk potash. Jeez, about time, eh?
South Harz Potash is a head-turning bourse burster today, up about 40% on high trading volume.
Its needle-moving news actually hit on Friday, when the company announced it has received the spatial planning assessment (in German, the prototypically prosaic Raumverträglichkeitsprüfung), for its flagship Ohmgebirge Potash Development in central Germany.
That’s… easy for them to say.
In any case, this assessment process is regarded as a crucial milestone in Ohmgebirge’s development, which is part of South Harz’s 100%-owned South Harz potash project.
The assessment covers a potential layout for Ohmgebirge almost twice the size of the original design noted in the project’s recent pre-feasibility study.
Commenting on the Spatial Planning decision, South Harz Executive Chairman, Len Jubber, said, among other things:
“This is an outstanding outcome from a transparent and well-administered process. The positive Spatial Planning decision provides a strong base for the future development of Ohmgebirge and speaks volumes to the constructiveness of the entire Thuringia region to new critical minerals development.”
Potash – potassium chloride – is largely used in the agricultural industry for fertilisation purposes.
Metallica Minerals (ASX:MLM); Diatreme Resources (ASX:DRX)
While neither of these two stocks alone are absolutely crushing it share price-wise today, together they just about make a double-digit head-turner for their news alone, so we’re including them here.
We’ll admit, it’s partly because it, of course (as you’ll see in the very next sentence) brings to mind the other Metallica’s still epic Enter Sandman.
Diatreme, a Brisbane-based producer of mineral and silica sands based in Brisbane, announced this morning that its takeover bid for high-purity silica sand player Metallica is now unconditional.
Some facts around this. Diatreme currently has a relevant interest of 57.34% in Metallica, and its takeover offer (its final one) is scheduled to close on June 25.
DRX is encouraging all remaining Metallica shareholders to promptly accept the offer.
In fact, “ACCEPT NOW AND DO NOT WAIT” is the company’s official line per the ASX release.
The post Resources Top 5: Goldie Emmerson is building in the NT; Lithium Plus also in positive territory appeared first on Stockhead.
