Patriot Battery Metals\u2019 Ken Brinsden is finally pulling up stumps\u2026 to move to Quebec and head the company from there
\nMalawi-focused graphite hunter NGX is doing well today on good news regarding licensing of its flagship graphite project
\nCuFe and Castile up on no fresh news<\/p>\n
Here are some of the biggest resources winners in early trade, Thursday January 25.<\/p>\n
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Big gun lithium play PMT is up a very healthy 12% at time of writing, which is a more than decent intraday gain for a $428m+ stock.<\/p>\n
What\u2019s doin\u2019? An international boardroom shuffle.<\/p>\n
Another exciting chapter begins for $PMET<\/a>: Board and Executive Update, Ken Brinsden to Transition to Quebec Based CEO \/ President https:\/\/t.co\/a1XPoIqPu1<\/a><\/p>\n \u2014 Patriot Battery Metals Inc. (@Patriot_Battery) January 24, 2024<\/a><\/p>\n\n Essentially, PMT\u2019s lithium-industry stalwart and (non-exec) chair Ken Brinsden is moving to where the big action is right now \u2013 Quebec, Canada \u2013 to head up the company from over there.<\/p>\n Specifically, he\u2019s moving to Montreal, and his position changes from non-executive chair to CEO\/president\/managing director. The boss. The gaffer. Work as a team and do it my way, etc.<\/p>\n Pierre Boivin, who lives in Quebec, will step into the role of non-executive chair from non-executive director. Current CEO\/president, Blair Way, will move into the COO (chief operating officer) role, retaining his executive board position.<\/p>\n Why the changes? The company report this morning notes that the intention is to increase Patriot\u2019s senior leadership presence within Quebec, as the company\u2019s Corvette project enters and moves through the development phase.<\/p>\n Speaking of which, last week, PMT announced that Corvette \u2013 the largest lithium drill campaign in Quebec \u2013 is now underway.<\/p>\n The 2024 drill campaign at the $420m company\u2019s Corvette property is targeting a minimum of 45,000m over the January to April period \u2013 the winter program.<\/p>\n At least 10 drill rigs are lined up for spinning for the four months, which defines it as a large-scale undertaking.<\/p>\n How\u2019s this work in the depths of a finger-freezing, organ-shrivelling Canadian winter? PMT reports the winter access road is fully operable at this stage, reducing the dependency on choppers, so the expectation is the per-metre cost shouldn\u2019t be overly high.<\/p>\n Core assay results remain to be reported for more than 125 drill holes, including ~1.5km of prospective pegmatite trend across the CV5 and CV13 pegmatites.<\/p>\n An updated mineral resource estimate won\u2019t be coming from PMT until later in the year, third quarter.<\/p>\n Situated in the Eeyou Istchee James Bay region of Quebec, PMT\u2019s Corvette Property is Patriot Battery Metals\u2019 flagship project.<\/p>\n Its CV5 Spodumene Pegmatite has an impressive MRE \u2013 109.2 Mt at 1.42% Li2O and 160 ppm Ta2O5 (tantalum pentoxide) inferred. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> NGX \u2013 no, not the Nigerian stock exchange \u2013 the African graphite-focused, ASX-listed, $13.6m market capped explorer is making a move today on some good news.<\/p>\n The company has been issued a Retention Licence for the Malingunde project in Malawi, which is a premium quality, low-cost natural flake graphite project.<\/p>\n According to NGX, based on a Pre-Feasibility Study (PFS), Malingunde has exceptional economic and environmental attributes. That PFS was previously completed by Sovereign Metals in 2018 and updated by NGX via prospectus in April 2023.<\/p>\n Why is it considered a \u201cpremium\u201d project, then? Partly because it reportedly has a large, weathered saprolite component, which, in contrast to hard-rock deposits can result in lower expected energy inputs for mining and processing, keeping operating costs low and margins favourable.<\/p>\n Malingunde comprises a planned open cut mining and a beneficiation processing plant operation, treating run of mine ore to produce on average 52,000 tonnes per year of graphite concentrate at a purity of 97% TGC.<\/p>\n And it\u2019s set to operate with excellent surrounding infrastructure, with graphite concentrate bagged and trucked to railhead at Kanengo, then bunged onto shipping containers and railed to Nacala port for exporting.<\/p>\n Source: NGX<\/p>\n What next?<\/p>\n NGX says it will \u201cimmediately proceed to review the PFS to investigate whether the project can be optimised by focusing on supplying graphite concentrates to the feedstock market for lithium-ion battery anodes\u201d.<\/p>\n And:<\/p>\n \u201cIn parallel with the ongoing PFS and downstream processing work, NGX will commence a comprehensive program of community and stakeholder engagement, continuing the social and environmental consent process,\u201d said the company. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span> (Up on no news)<\/strong><\/em><\/p>\n This emerging copper and iron ore explorer is up a goodly 33% on not much we\u2019re seeing so far today.<\/p>\n Last time it did this, we guessed it might\u2019ve had something to do with nearology based on the movements of WA1 Resources (ASX:WA1)<\/strong><\/a>.<\/p>\n Something\u2019s afoot with WA1, with issuance of 4m new shares regarding its big $40m capital raising share placement to advance the West Arunta project (gold, copper, niobium, rare earths \u2013 but mainly niobium of late).<\/p>\n WA1 shot through the roof in the final month of 2023 on a major upgrade from Canaccord Genuity, which lifted its price target on the niobium hopeful from $11.50 to $17.50.<\/p>\n All eyes are on the maiden resource for its Luni discovery, which is due around the second quarter of 2024.<\/p>\n WA1\u2019s emergence as one of the ASX\u2019s hottest exploration stocks has also sparked a renewed focus on the wider West Arunta region.<\/p>\n And well, that\u2019s where CuFe comes into play.<\/p>\n Recently, the company noted it had significantly increased its landholding around its West Arunta project in WA \u2013 with tenure applications in progress for new ground adjacent and adjoining existing applications.<\/p>\n The area has similarities to the WA1 and Encounter Resources\u2019 (ASX:ENR)<\/strong><\/a> projects and discoveries approximately 70km to the south.<\/p>\n And the tenure is adjacent to Lycaon Resources\u2019 (ASX:LYN)<\/strong><\/a> Stansmore project, where magnetic trends have been identified that have the potential for REE-carbonatite mineralisation.<\/p>\n Plus, the new ground has not been historically explored for REEs and features magnetic anomalies that extend through this area that could be reflective of prospective carbonatites. \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no news, again)<\/strong><\/em><\/p>\n Coper-gold project developer CST is surging again nothing of note as yet today.<\/p>\n In which, case, time to revert back to this \u2013 heritage approval granted to get drills spinning at CST\u2019s lithium, niobium and REE Milgun project, some 150km north-northwest of Meekatharra in the Peak Hill mineral field in WA.<\/p>\n Heritage approval has been received for on-ground #exploration<\/a> at #CastileResources<\/a>‘ #Lithium<\/a>, Niobium and REE Milgun Projects. <\/p>\n View the announcement here: https:\/\/t.co\/kh1IXhdeFm<\/a>#ASX<\/a> pic.twitter.com\/eomXre9gCD<\/a><\/p>\n \u2014 Castile Resources (@CastileRes) December 20, 2023<\/a><\/p>\n\n And the other day in this column, (Jan 22) Stockhead<\/em>\u2018s Reuben Adams gave us the following:<\/p>\n In 2020, Top 10 Aussie gold producer Westgold Resources (ASX:WGX)\u00a0<\/strong><\/a>\u00a0spun its\u00a0Northern Territory gold-base metal assets into Castile, which hit the bourse with a market cap of about $40m.<\/a><\/p>\n Gathering dust in the basement of Westgold\u2019s portfolio for several years was Castile\u2019s high-grade \u2013 but deep \u2014 Rover 1 iron oxide-copper-gold discovery.<\/p>\n According to a recent PFS, Rover 1 could churn out 28,700oz gold, 6,900t copper, 300t cobalt and 75,300t iron per annum for $225m in annual revenues.<\/p>\n The development has solid copper and gold equivalent all in sustaining costs (AISC) of A$7030\/t and A$1330\/oz, respectively. It would cost A$280m to build.<\/p>\n A BFS \u2013 the most advanced of all economic studies \u2013 is due sometime this year. Formal discussions with customers and financial institutions for project funding is also underway, with CST boss Mark Hepburn recently travelling to India as part of a trade delegation.<\/p>\n \u201cFrom the meetings we attended it is obvious that India will require vast amounts of copper to meet their decarbonisation goals,\u201d he said in December.<\/p>\n \u201cCastile\u2019s strategy of producing end-user 99% copper means we can negotiate directly with these large companies, securing maximum value for our product and our shareholders.\u201d \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n At Stockhead we tell it like it is. While CuFe is a Stockhead advertiser at the time of writing, it did not sponsor this article.\u00a0<\/em><\/p>\n <\/span><\/p>\n The post Resources Top 4: Lithium gun PMT\u2019s board plays musical chairs in Quebec; NGX up on African graphite<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"
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\n\u00a0<\/p>\nNGX (ASX:NGX)<\/strong><\/a><\/h2>\n
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Castile Resources (ASX:CST)<\/strong><\/a><\/h2>\n
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