That\u2019s the way it\u2019s gonna be, little darling. Cooper\u2019s riding on the (Brumby Ridge) horses, yeah yeah\u2026
\nAustralian Pacific Coal rides high, too \u2013 on a huge, US$60m funding deal
\nMeanwhile DMG, RTG and LDR are also having a beaut day<\/p>\n
Here are the biggest resources winners in early trade, Thursday November 30.<\/p>\n
\u00a0<\/p>\n
Copper and gold hunter Cooper has some super duper news today, confirming a high-grade copper discovery at its Brumby Ridge copper-gold prospect at the Mt Isa East project in northwest Queensland.<\/p>\n
It\u2019s talking 71m at 2.8% copper including 24m at 5.4% copper. \u201cBonanza copper grades\u201d right there.<\/p>\n
Says the company: \u201cThis new result builds on the initial RC drill hole 23MERC024, which intercepted 50m at 1.32% Cu and 0.05g\/t Au from 80m including 2m @ 6.1% Cu & 0.23g\/t Au.\u201d<\/p>\n
Not granular enough for you? Here\u2019s a pic from CPM\u2019s ASX release today\u2026<\/p>\n\n
Earlier this month Cooper indicated that further info on its results would be coming in December, but its team clearly got straight back on the horse to get the info out into the wild as swiftly as possible.<\/p>\n
CPM investors seem to be lapping up the early news \u2013 this thing\u2019s bolted up the bourse with an 70%+ gain at the time of writing.<\/p>\n
It sounds like there\u2019s more to come, too, with assay results pending for four drill holes at Cooper\u2019s\u00a0 Raven Cu-Au prospect \u2013 also at Mt Isa East.<\/p>\n
Plus, a downhole electromagnetic survey is in progress at both prospects, with results expected in December.<\/p>\n
Cooper Metals MD Ian Warland said the find \u201ccould be the start of a significant discovery at Brumby Ridge for Cooper Metals.<\/p>\n
\u201cOf the five drill holes to date, three have hit significant mineralisation and finished in mineralisation.<\/p>\n
\u201cThis whole Prospect area is well located, just down the road from Mt Isa township and will continue to be our main focus going in to 2024.\u201d<\/p>\n
CPM share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n This $79m capped coal-mining company had a good start to its day, moving up 25% on the back of news regarding a US$60m funding package offer for its Dartbrook coal mine in the Hunter Valley, NSW.<\/p>\n AQC and its JV partner Tetra Resources have essentially agreed terms on a credit committee-approved offer for a three-year USD $60 million debt facility from Vitol Asia Pte Ltd, which is a leading global energy and commodities company.<\/p>\n \u201cFunds will cover all remaining restart capex through to first coal and the acquisition of additional mining systems during ramp-up,\u201d notes AQC. Dartbrook coal marketing rights will be assigned to Vitol under a Coal Supply and Marketing Agreement between the parties.<\/p>\n Australian Pacific Coal\u2019s interim CEO, Ayten Saridas, said:<\/p>\n \u201cFor the past 12-months, AQC has been focused on de-risking the Dartbrook project and obtaining a debt funding package that gives Dartbrook the best chance of succeeding and delivers the best outcome for shareholders and stakeholders.<\/p>\n \u201cThe Dartbrook Mine is a Tier 1 asset and this transaction is testament to the quality of the resource.\u201d<\/p>\n AQC share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on not much news)<\/strong><\/em><\/p>\n This tiny, formerly China-focused goldie held a meeting the other day. Is that why its share price is suddenly up 50% today? Because there\u2019s not much else floating about to indicate the rise.<\/p>\n It was the company\u2019s AGM, and the DMG notes that \u201call resolutions were decided by poll\u2026 and passed by shareholders\u201d.<\/p>\n This isn\u2019t, on the surface, very exciting stuff (or is it?) but those resolutions included:<\/p>\n \u2022 Adopting a renumeration report.<\/p>\n \u2022 Electing Dimitri Bacopanos \u2013 a name that makes us feel like another breakfast.<\/p>\n \u2022 And the change of the company name\u2026 to Everflow Resources.<\/p>\n Source: Business News<\/p>\n In November last year, DMG acquired a tenement package of prospecting licences\u00a0covering 40km2 located within the Cawse envelope northwest of Kalgoorlie.<\/p>\n At that time company geologist Tim Leonard, said: \u201cThe company considers that these tenements may be highly prospective for gold that are within the Gordon\u2019s Project on the granite ultramafic boundary alongside our existing Cawse interests south of Ora Banda Road.\u201d<\/p>\n Dragon Mountain has also been trying to earn into some tenements around the Bulong nickel and gold field owned by its chairman\u2019s private company Wingstar Investments. Some of those have been recommended for forfeiture by Warden Genevieve Cleary in the WA Warden\u2019s Court on minimum expenditure grounds, a decision for Mines Minister Bill Johnston to deliberate on.<\/a><\/p>\n DMG share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news)<\/strong><\/em><\/p>\n This small-ish mining and exploration company, which is also listed on the Toronto Stock Exchange, has gold and copper things going on in the Philippines and in Central Asia.<\/p>\n We\u2019re not seeing much, or anything at all, behind its double digits gainage today, so let\u2019s revert back to October 9, when we last mentioned it in any detail, and when the company last had some news of real note to share with the ASX.<\/p>\n At that time it released an update on field work showing encouraging gold and copper mineralisation along 6.5km of skarns and new structures within its 90% owned Chanach project in the Kyrgyz Republic in far-flung Central Asia.<\/p>\n Assay highlights from its high-grade trench sampling included: 2m at 4.05g\/t Au and 1.56% Cu from Cut 1; 1m at 1.10g\/t Au and 0.76% Cu from Cut 1; 7m at 2.94g\/t Au (including 4m at 4.87g\/t Au) and 1.12% Cu from Cut 2; 5m at 5.53g\/t Au from Cut 5.<\/p>\n The company\u2019s main focus, however, remains its Mabilo gold project in the Philippines. It continues to advance work there, with \u201cbudget discussions with project partners progressing well\u201d.<\/p>\n RTG share price<\/strong><\/p>\n<\/div>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no fresh news)<\/strong><\/em><\/p>\n Did you ever play the old video game Lode Runner? It has very little to do with this gold\/copper\/silver explorer (although the little white character there is frenetically hunting for gold, so maybe it has everything<\/em> to do with it). It was great \u2013 spent countless hours on it as a nipper and I\u2019d really like to play it again as soon as I\u2019ve put this article to bed.<\/p>\n Screenshot of a glorious time waster. Source: loderunnerwebgame.com\/game\/<\/p>\n Lode Resources, a $12m market capper on the search for precious metals in the New England Fold Belt of NSW, is up on nothing completely fresh that we\u2019re seeing at the time of writing.<\/p>\n Here, however, was its most recent news of note, from a bit over a week ago, regarding its Webbs Consol silver project.<\/p>\n Lode Resources has commenced drilling on a significant exploration target at its Webbs Consol Silver Project. The Webbs Consol North Prospect anomaly footprint is the largest surface occurrence at Webbs Consol as outlined by surface sampling. #LDR<\/a> #Silver<\/a> #Zinc<\/a> #Lead<\/a> #WebbsConsol<\/a> pic.twitter.com\/xaIYsatb2t<\/a><\/p>\n \u2014 Lode Resources Ltd (@LodeResources) November 22, 2023<\/a><\/p>\n\n With $3.7m cash in its coffers as of September 30, Lode says it remains fully funded for upcoming drilling programs and further exploration work.<\/p>\n Its MD, Ted Leschke, said: \u201cWe are excited about the just-commenced drilling programme at Webbs Consol North given the large size of the surface anomaly. This prospect is defined by an intense and large geochemical anomaly making a high priority drill target.\u201d<\/p>\n LDR share price<\/strong><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0 The post Resources Top 5: Cooper Metals bolts up bourse again on Brumby Ridge copper news<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Australian Pacific Coal (ASX:AQC)<\/strong><\/a><\/h2>\n
Dragon Mountain Gold (ASX:DMG)<\/strong><\/a><\/h2>\n
RTG Mining (ASX:RTG)<\/strong><\/a><\/h2>\n
Lode Resources (ASX:LDR)<\/strong><\/a><\/h2>\n
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