{"id":9984,"date":"2024-05-22T01:45:16","date_gmt":"2024-05-22T01:45:16","guid":{"rendered":"https:\/\/economicherald.net\/?p=9984"},"modified":"2024-05-22T01:45:16","modified_gmt":"2024-05-22T01:45:16","slug":"road-to-24000ozpa-kaiser-collects-5m-investment-from-ragnar-metals-to-double-output-from-a1-gold-mine","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=9984","title":{"rendered":"Road to +24,000ozpa: Kaiser collects $5m investment from Ragnar Metals to double output from A1 gold mine"},"content":{"rendered":"

\u00a0<\/p>\n

Kaiser Reef receives $5m investment from Ragnar Metals to advance development of Nova gold project<\/strong>
\nNova is part of Kaiser\u2019s producing A1 mine, down below historical levels previously reached<\/strong>
\nOutput targeted to 2X from 12,000ozpa to 24,000ozpa<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

Special Report<\/em><\/strong>: Gold miner Kaiser Reefs has received a strategic investment commitment worth $5 million from Ragnar Metals to develop the Nova gold project and double production from its A1 mine in Victoria.<\/strong><\/p>\n

Kaiser Reefs (ASX:KAU)<\/strong><\/a> is currently the only ASX-listed gold producer in the rich Victorian goldfields, producing 30,537t @ 11.6g\/t for 11,350oz last financial year from the historic A1 mine.<\/p>\n

Assay results from drilling at the A1 Mine in October last year extended high-grade gold mineralisation exceeding below the 23 level \u2013 well beyond levels historical miners could reach, with grades from drilling returning >50g\/t.<\/p>\n

KAU named the area the Nova gold project.<\/p>\n

\u00a0<\/p>\n

Strategic investment into Kaiser<\/strong><\/h2>\n

KAU has received a firm commitment of $5m from Ragnar Metals (ASX:RAG)<\/strong><\/a> via share placement to develop Nova.<\/p>\n

Terms of the placement include the issue of 5,010,000 Kaiser shares to Ragnar at 15c per share (that\u2019s no discount to the share price) via two tranches.<\/p>\n

Tranche 1 consists of $930,000 for 6.2 million shares, while tranche 2 consists of $4.08m for 27.2 million shares \u2013 making Ragnar the company\u2019s largest shareholder with 16.4%.<\/p>\n

Ragnar will also receive a 1.5% net smelter royalty on gold produced from the A1 Gold Mine for a period of five years commencing from 1 July 2025, and appoint someone to the Kaiser board.<\/p>\n

\u00a0<\/p>\n

Nova development<\/strong><\/h2>\n

KAU plans to commission a significant increase in gold production through the development of its Nova gold project down the A1 mine. It will be the first time in 40 years a new area of the mine has been accessed.<\/p>\n

\u201cThe funds will be applied to a development-focused second team that will execute the inaugural development of the Nova gold project,\u201d KAU MD Jonathan Downes says.<\/p>\n

With adding Nova to the A1 mine, the miner expects to double current production from approximately 12,000ozpa up to 24,000ozpa at an AISC of $2400\/oz \u2013 (gold is currently >$3600\/oz).<\/p>\n

Ore will be easily processed through KAU\u2019s Maldon plant, which is currently operating at between 20-30% of capacity.<\/p>\n

\u201cDrilling results and geological modelling have shown that the high-grade reef system continues beyond the levels historical miners could not reach, with grades returned from drilling exceeding 50 g\/t gold (ASX release 30\/10\/2023),\u201d Downes says.<\/p>\n

\u201cAccessing the Nova gold project is a goal that Kaiser has been working towards over the past two years, and it is an extremely exciting development.<\/p>\n

\u201cProduction is expected to increase, with the cost base of the operations having a substantial fixed component. This initiative is expected to be the game changer our shareholders have patiently awaited.\u201d<\/p>\n

\u00a0<\/p>\n\n

\ufeff<\/span>\ufeff<\/span>\ufeff<\/span>\u00a0<\/p>\n

This article was developed in collaboration with Kaiser Reef, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n

<\/span><\/p>\n

The post Road to +24,000ozpa: Kaiser collects $5m investment from Ragnar Metals to double output from A1 gold mine<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

\u00a0 Kaiser Reef receives $5m investment from Ragnar Metals to advance development of Nova gold project Nova is part of Kaiser\u2019s producing A1 mine, down [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":9985,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nRoad to +24,000ozpa: Kaiser collects $5m investment from Ragnar Metals to double output from A1 gold mine - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=9984\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Road to +24,000ozpa: Kaiser collects $5m investment from Ragnar Metals to double output from A1 gold mine - 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