Dual-listed Euro Manganese (ASX and TSXV) soars on Orion funding deal
\nBallymore also pulls in the bucks \u2013 to get its historic Dittmer gold mine cracking
\nHigh-grade REE minerals found at Venture\u2019s Jupiter target in WA<\/p>\n
Here are the biggest resources winners in early trade, Wednesday November 29.<\/p>\n
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This $38m market capped Canadian manganese stock hasn\u2019t had the best time of things since we mentioned it in this column in mid-August \u2026 although we\u2019re pretty sure that\u2019s not our fault. Back then, you see, it was a $52m<\/em> market capper.<\/p>\n But\u2026 its fortunes now look to be making a u-turn in the right direction, with the stock bursting up +45% and making news just about everywhere on the back of a significant project financing deal with $8.2 billion global asset management firm Orion Resource Partners.<\/p>\n It\u2019s a US$100m non-dilutive funding package to advance the development of the Chvaletice manganese project in the Czech Republic \u2013 the company\u2019s primary focus.<\/p>\n We are thrilled to share that we’ve secured US$100 million in non-dilutive financing from Orion Resource Partners to advance the development of our #ChvaleticeProject<\/a> in the Czech Republic.https:\/\/t.co\/a56kpAKQeF<\/a>#HighPurityManganese<\/a> #EuroManganese<\/a> #EVs<\/a> #Orion<\/a> #investors<\/a> pic.twitter.com\/2ijOxEGxV4<\/a><\/p>\n \u2014 Euro Manganese (@EuroManganese) November 28, 2023<\/a><\/p>\n\n The company is battery materials focused, with manganese a lesser-known (than lithium and nickel anyway) raw material required as a stabilising component in the cathodes of nickel-manganese-cobalt (NMC) lithium-ion batteries used in electric vehicles.<\/p>\n The funding is split into two $50 million tranches, including a $50 million loan facility, convertible into a 1.29-1.65% royalty on project revenues, and another $50m in exchange for a 1.93-2.47% royalty on project revenues following a final investment decision by the company\u2019s board.<\/p>\n Dr Matthew James, President & CEO of Euro Manganese, said:<\/p>\n \u201cThis is a transformative transaction for Euro Manganese\u2026 The non-dilutive, tranche structure minimises cost of funds and reduces future project financing requirements.<\/p>\n \u201cThis further validates the robust nature of the Chvaletice Project and our team\u2019s ability to deliver this strategic battery raw material project for Europe to the highest of standards.\u201d<\/p>\n EMN share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Golden news for this junior Queensland-based gold\/copper\/silver hunter today, which has raised $1.8m via a placement\/entitlement offer \u2013 plus another $1.5m from mining royalty firm Taurus \u2013 to advance the Dittmer gold mine to production.<\/p>\n Taurus backs Ballymore’s gold ambitions.<\/p>\n Plans to redevelop one of the highest-grade gold miners in Queensland have received the backing of Taurus Funds Management as part of a circa A$11 million capital raising by Ballymore Resources.https:\/\/t.co\/SGY4TaXmYN<\/a><\/p>\n \u2014 Ballymore Resources (@BallymoreRes) November 28, 2023<\/a><\/p>\n\n In late October, Ballymore announced \u201cextremely high-grade gold results\u201d with individual assays up to 2206ppb Au (2.2g\/t) returned from soil sampling program over its Dittmer prospect, some 30-odd kilometres southwest of Prosperine in central Qld.<\/p>\n That prospect includes the historic Dittmer mine Taurus is now backing, and numerous unexplored, historic workings in local area. The company believes the find confirms Dittmer as a major mineralised system defined by broad anomalies.<\/p>\n BMR share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n This small explorer, on the hunt for mineralised wealth in Western Australia and down in Tassie, has price-sending news of some weight.<\/p>\n Namely assay results from its maiden RC drilling campaign at its new Jupiter REE target at the Brothers project in WA.<\/p>\n Assay results it describes as \u201coutstanding\u201d including some core at more than 7,000 ppm TREO.<\/p>\n Some highlights include the facts:<\/p>\n \u2022 The RC program has delivered clay-hosted REE mineralisation in all 25 holes drilled across a 40km2 target.<\/p>\n \u2022 Consistent 20-30metre widths of REE mineralisation grading over 2,000 ppm TREO were found, within broader zones up to 64m grading over 1,000 ppm TREO.<\/p>\n \u2022 Magnet Rare Earth Oxides (MREO2) averaging 23% over +1,000ppm TREO intersections discovered\u2026<\/p>\n \u2022 \u2026 along with extremely low thorium and uranium.<\/p>\n The company also notes there is potential there for resources with \u201csignificant grade and scale\u201d and that the drill program has about another three weeks to go.<\/p>\n VMS share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n This microcap gold\u2019n\u2019copper-chasing Queenslander is still basking in recent warmth from a thick, high-grade gold hit out at its Liontown prospect at the Ravenswood West project, about 130km south of Townsville in northern Queensland.<\/p>\n Breaking News!<\/p>\n 17m @ 22.1 g\/t Au Hit Confirms Liontown Feeder Zone.<\/p>\n Multiple, high-grade intersections validate conceptual target.<\/p>\n Read the announcement here https:\/\/t.co\/pmPZJFeUnH<\/a> pic.twitter.com\/UOXymjEuSD<\/a><\/p>\n \u2014 Sunshine Metals (@SunshineGold20) November 23, 2023<\/a><\/p>\n\n Sunshine made a tantalising intersection of 17m at 22.14g\/t gold at the Ravenswood Consolidated project in North Queensland. Colleague Michael \u201cWashy\u201d Washbourne already had it covered the other day<\/a>.<\/p>\n Among other things, Washy wrote: \u201cThe company believes it may have struck paydirt in a gold and copper rich feeder zone to the 2.3Mt zinc-gold-copper-lead-silver VMS resource at the Liontown deposit.\u201d<\/p>\n Meanwhile, Sunshine managing director Damien Keys told the market on Friday:<\/p>\n \u201cThe stunning intercepts at Liontown are a great reward for the solid geological work completed by the team.<\/p>\n \u201cThe decision was made to target the gold-copper rich footwall and feeder zones to the Liontown resource with a high impact, shallow RC program. The feeder zones have not been recognised by past explorers and are often difficult to target.\u201d<\/p>\n Assays from a further 11 drill holes targeting the feeder zones and footwall lodes are due next month.<\/p>\n SHN share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0 The post Resources Top 4: Euro Manganese bags US$100m of \u2018transformative\u2019 funding<\/a> appeared first on Stockhead<\/a>.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"Ballymore Resources (ASX:BMR)<\/a><\/h2>\n
Venture Minerals (ASX:VMS)<\/strong><\/a><\/h2>\n
Sunshine Metals (ASX:SHN)<\/strong><\/a><\/h2>\n
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