News Articles for Big River Gold

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Big River Gold is forging ahead with its efforts to develop the Borborema gold project in Brazil, despite the current global economic headwinds. With a DFS for a multi-million ounce gold project on the street and over A$3m in the bank, Big River is well placed to weather the Coronavirus storm and the prospect of potentially adding a newly identified waste by-product that is potentially saleable should change the economic dynamics.

Big River Gold is looking to turn what is usually considered a waste mineral into a potentially lucrative by-product from its Borborema gold project in North-Eastern Brazil. With mica-rich gold ore set to be processed through a conventional mill, a few tweaks of the processing flowsheet could see Big River pocket a windfall from its mica offtake that would normally find its way into the waste tailings dam.

Pitt Street Research, a Sydney-based research house, has broken ASX-listed Big River Gold down into the sum of its parts and says it has set a “base case” share price target of 9.4c a share for the Perth based company that is currently trading at 2.3c a share. Pitt Street's “optimistic” case for Big River would see it achieve a price target as high as 15c a share. The research house found that at the time of writing its report, Big River's enterprise value versus its inground resources was around USD$5.50 an ounce.

Big River Gold has hosted an opening ceremony at the site of its Borborema gold project near the town of Currais Novos in Brazil. The ceremony was attended by local business leaders, community members and politicians who learnt about the project and its impending benefits to the local area. Big River said it is looking to employ some 375 people locally when the project is in full swing.

Big River Gold is looking to lock down a finance package for its 100%-owned Borborema gold Project in Brazil that boasts a 2.43 million-ounce resource and a reserve of 780,000 ounces at a grade of 1.22 grams per tonne gold. The project is showing an initial projected mine life of ten years and solid economics at a gold price of US$1,400/oz.

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Big River Gold is on the verge of establishing a highly profitable, decade-long gold mining operation in north eastern Brazil that looks set to pay for itself within just two and a half years. A definitive feasibility study for the Borborema project shows the Perth company sitting on a stand-alone gold mine that will yield at least 729,000 gold ounces over an initial 10.2-year mine life.

Big River Gold said this week that a usually insignificant waste mineral known as “mica”, could potentially make the company some good money at its Borborema gold project in north-eastern Brazil. Perth-based consulting group, Wave, identified the potential to process and extract the mica minerals and sell them as a separate, commercially viable product. The micas make up approximately 30% of the volume of the Borborema deposit and carry half the gold grade.

Big River Gold has achieved a significant goal this week, after it signed an agreement with the local Brazilian State of Rio Grande do Norte, to underpin the future development of its flagship Borborema gold project in Brazil. The agreement ensures that the company will have full access and co-operation from the State's departments for power, roads, water and the environment and includes important tax concessions for mine start-up.

Big River has cashed in its Meteoric shares for a cool $2.75m, issued as part of the sale consideration for its Juruena and Novo Astro projects in central Brazil in May. The company will now utilise the funds to progress exploration and resource development drilling at its Borborema gold project, where a DFS is underway.

Big River Gold has eliminated its outstanding debt and is now in a strong position to finalise the definitive feasibility study for its flagship Borborema gold project in Brazil later this year. The company is targeting a significant reduction in capital and operating costs with a higher-grade, low strip ratio, starter Stage 1 open-pit envisaged and gold prices now 15% higher than those used in last year's optimisation study.

Brazil-focused gold explorer, Big River Gold, has received firm commitments from institutional and sophisticated investors for a $1.5 million share placement for exploration and evaluation of existing tenements adjacent to its flagship Borborema project. Proceeds from the placement will also be used for pre-construction activities to accelerate the development of the Borborema project.

WA-based juniors Titan Minerals, Coziron Resources, Galan Lithium, Anglo Australian Resources, and Big River Gold have announced share placement activity on the ASX today.

Big River Gold has appointed Perth-based engineering consulting group, Wave International, to complete the definitive feasibility study for its Borborema gold project in north-eastern Brazil. The company has also appointed Brazil's Grupo GE21 Mineral Consultants to review and update the mine schedule after it identified a higher-grade component at the surface within the Stage 1 pit design.

Big River Gold has now secured funds to optimise and complete a bankable feasibility study for its exciting Borborema gold project in north-eastern Brazil by the end of this year. The company recently divested its Juruena-Novo Astro gold projects for $3m in cash and scrip and has raised $4.11m in a rights issue, as it vectors towards the development of its flagship gold project.

Crusader Resources is securing funds to facilitate the optimisation and completion of a DFS and BFS for its Borborema gold project in north-eastern Brazil by the end of this year. The company recently divested its Juruena-Novo Astro gold projects for $3m in cash and scrip and is raising up to $4.1m in a rights issue, as it vectors towards the development of its flagship gold project.

Crusader Resources is seeking to raise $4.1 million via a rights issue, while Amani Gold has raised $3 million through a share placement, as both juniors seek to advance their gold projects.

Meteoric Resources has struck a deal to pay up to $3 million in cash and scrip for Crusader's Resources Juruena and Novo Astro gold projects, and Crusader has increased the underwriting of its $4.2 million rights issue by $1 million.

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Crusader Resources is pleased to announce the following updates in relation to the Company's funding position.

Thred has announced a capital raising by way of a fully-underwritten, non-renounceable pro-rata entitlement offer at an issue price of $0.004 per new share on the basis of one new share for every t

Junior explorers Black Mountain Resources and Australian Vanadium have announced $3 million capital raisings, while gold-focused Crusader Resources is tapping investors for $6.5 million as part of its initial public offering on the London AIM.

Emerging Western Australian nickel company St George Mining is pleased to announce it has successfully raised $4.0 million from institutional and sophisticated investors via a placement at an issue

Three Perth-based junior miners have tapped investors for more than $10 million, while gold explorer Crusader Resources will raise up to $US15 million ($19 million) as the company seeks a dual listing on London's AIM.

Liam Cornelius has resigned as non-executive director of Danakali. He has been with the company since 2001.

Brazil-focused gold explorer Crusader Resources has recommended shareholders accept an all-scrip takeover offer from AIM-listed Stratex International, that values the target at $54 million.

Perth-based Crusader Resources has announced a $10 million capital raising to fund ongoing work at its Juruena gold project in Brazil.

Five junior resources companies have completed a combined $16.4 million worth of capital raisings to fund ongoing work at their respective operations.

Crusader Resources has appointed Mauricio Ferreira as anon-executive director. Mr Ferreira is based in Brazil and was most recentlydirector – special projects at Vale.

WA iron ore junior Crusader Resources has announced that non-executive director Justin Evans has stepped down after nine years with the company.

Western Australian iron ore junior Crusader has announced a cost-cutting program aimed at reducing overheads in the wake of tougher market conditions.

News of Brazil-focused miner Crusader Resources achieving its first iron ore sales has excited the market with its share price jumping more than 16 per cent today.

Crusader Resources has secured a $20 million debt finance facility with Macquarie Bank which will fund the development of its Brazilian projects - the Borborema gold project and Posse iron ore deve

Crusader Resources says it has raised $16.2 million in funds which will allow it to fast-track development at its Borborema gold project in Brazil.

Crusader Resources has announced plans for an $8.6 million capital raising to maintain exploration work at its Borborema Gold project and implement a regional exploration program in north-east Brazil.

West Perth-based Crusader Resources has exercised an option to purchase a gold project in Brazil for $2.4 million.

Crusader Resources plans to produce iron ore in Brazil has received a set back after the local government withdrew its environmental licence for the Posse iron project.