Several goldies are in form today, including Ausgold, which has pulled in an impressive capital raise
\n\u00a0MetalsTech and \u201cBarbs\u201d \u2013 that\u2019d be St Barbara \u2013 are also making golden gains
\nWhile Dreadnought is still cruising and Tempus is taking flight<\/p>\n
\u00a0<\/p>\n
Here are some of the biggest resources winners in early trade, Friday June 7.<\/em><\/p>\n \u00a0<\/p>\n Goldie explorer and developer Ausgold\u2019s main game is its 3.04Moz Katanning gold project in Western Australia, and it\u2019s the reason AUC is trending up very nicely so far today.<\/p>\n The company has announced it\u2019s raised $38 million<\/strong> to accelerate the project, thanks to a\u00a0two-tranche placement to <\/span> Existing institutional investor Jupiter Asset Management cornerstoned the placement, increasing its holding to 12.7%, while fellow big gun investor\u00a0<\/span>Dundee Corporation retains a 10.9% holding through the placement.\u00a0<\/span><\/p>\n The funding will be used to underpin ongoing work programs at Katanning through to a Final Investment Decision (FID), which will come amid the completion of the Definitive Feasibility Study (DFS), settlement of the acquisition of freehold land and continuing regional exploration.<\/p>\n Ausgold\u2019s executive chairman John Dorward, who is also participating in the placement, said:<\/p>\n \u201cI am enormously excited about Ausgold\u2019s growth potential, leveraging the existing three-million-ounce resource base at the Katanning Gold Project and the Company\u2019s large landholding in one of Australia\u2019s great, untapped greenstone belts.\u201d<\/p>\n The company\u2019s MD Matthew Greentree meanwhile said:<\/p>\n \u201cThis landmark capital raising will underpin the completion of key work programs at the Katanning Gold Project, which will position Ausgold for a pivotal phase of growth.\u201d<\/p>\n \u00a0<\/p>\n Ausgold snares $38 million from big investors to finish Katanning gold studies and land grab | Coverage by @westaustralian<\/a>https:\/\/t.co\/Cll6kQ7be7<\/a>$AUC<\/a> #KGP<\/a> #gold<\/a> #exploration<\/a> #Katanning<\/a> #WA<\/a><\/p>\n \u2014 Ausgold Limited (@Ausgold_Au) June 7, 2024<\/a><\/p>\n\n \u00a0<\/p>\n Gold developer MetalsTech says a key condition has been satisfied for its ~$120m (~A$0.639 per share) acquisition by Trans Metals Fund, following the granting of underground mining activity permit No. 2440-3935\/2023 for the Sturec Gold Mine in Slovakia.<\/p>\n The Sturec Gold Project <\/span>Mineral Resource Estimate (MRE) has been JORC reported <\/span>as <\/span>68.347Mt at 1.22g\/t Au and 10.11g\/t Ag <\/span>(1.31g\/t AuEq<\/span>1<\/span>)<\/span>, containing 2.686 Moz of <\/span>gold and 22.210 Moz of silver<\/span> (2.868 Moz of gold equivalent)<\/span> using a 0.3g\/t Au cut<\/span>\u2013<\/span>off.<\/span><\/p>\n MTC is trading up more than double digits on the news at the time of writing.<\/p>\n \u00a0<\/p>\n Another goldie in the news and making gains today.<\/p>\n Producer and explorer SBM has announced that assay results are in for the remaining four Sorowar \u2013 Pigiput exploration drill holes from the FY24 drill program at the Simberi Operations in Papua New Guinea.<\/p>\n These holes aimed to test the interpreted northwest trending zone of mineralisation between the existing Sorowar and Pigiput ore bodies, located outside any current Inferred Resource area and conceptual pit design.<\/p>\n Notable intercepts include: 44m at 2.5g\/t gold from 113m depth in drill hole SDH542; and 24m at 2g\/t from 200m depth in drill hole SDH540.<\/p>\n MD and CEO Andrew Strelein said that\u00a0Hole SDH542 \u201cis another very encouraging broad intercept in the new mineralisation zone between Sorowar and Pigiput pits, but outside any current Mineral Resource.<\/p>\n \u201cWhilst these drilling results won\u2019t be included in the Mineral Resource and Ore Reserve update currently underway, <\/span> \u00a0<\/p>\n (Up on yesterday\u2019s news)<\/strong><\/em><\/p>\n This multi-commodity minerals explorer is still cruising nicely up the bourse after yesterday\u2019s Gifford Creek Carbonatite news. It\u2019s now up about 31% for the week.<\/p>\n Mineralogical work at its Gifford Creek Carbonatite \u2013 part of DRE\u2019s 100% owned Mangaroon critical minerals project \u2013 has confirmed that the dominant niobium mineral is pyrochlore, which is a high niobium mineral (>50%) from which ~95% of global niobium is produced.<\/p>\n Most niobium is used in the global steel industry and it also has strong superconducting properties.<\/p>\n The company notes that advantages of the Gifford Creek Carbonatite are that it\u2019s located in a Tier 1 jurisdiction, close to existing infrastructure, and has grade\/scale potential.<\/p>\n Significant intercepts from limited drilling include: 48m at 0.8% Nb2O5 from 30m, including 36m at 1.0% Nb2O5 from 39m; and 48m at 0.7% Nb2O5 from 63m, including 9m at 1.4% Nb2O5 from 72m.<\/p>\n \u00a0<\/p>\n This minnow explorer is up a goodly amount (see chart below) after making an announcement regarding the Prescot base metals project in Nunavut, Canada.<\/p>\n An airborne gravity gradiometric and magnetic geophysical survey is underway across the Canadian landholding.<\/p>\n The company notes that \u201cgravity is the preferred geophysical method with a proven track record of discoveries in the region\u201d.<\/p>\n There\u2019s a nearology narrative here. The Prescott project is located just about 100km from American West Metals (ASX:AW1)<\/strong><\/a> Storm project, which currently hosts an Indicated & Inferred resource of 17.5 Mt at 1.2% copper and 3.4g\/t silver.<\/p>\n \u00a0<\/p>\n Australian Gold and Copper (ASX:AGC)<\/strong><\/a>:\u00a0 +17%<\/p>\n Prodigy Gold (ASX:PRX)<\/strong><\/a> +20%<\/p>\n Norfolk Metals (ASX:NFL)<\/strong><\/a> +15%<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Resources Top 5: Ausgold raises $38 million as ASX goldies hit rich vein of form<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Ausgold (ASX:AUC)<\/strong><\/a><\/h2>\n
institutional and sophisticated investors.<\/span><\/p>\nMetalsTech (ASX:MTC)<\/strong><\/a><\/h2>\n
St Barbara (ASX:SBM)<\/a><\/strong><\/h2>\n
they will be included in subsequent updates.\u201d<\/span><\/p>\nDreadnought Resources (ASX:DRE)<\/strong><\/a><\/h2>\n
Tempus Resources (ASX:TMR)<\/strong><\/a><\/h2>\n
A few other gaining goldies on the ASX today<\/h2>\n