Legend Mining is preparing the diamond drill bit after identifying six important electromagnetic geophysical nickel-copper conductors at its Octagonal prospect within Western Australia's Fraser Range. The company believes its newly-discovered conductors relate to and potentially extend the mineralised eastern margin of the Octagonal intrusive – part of its Rockford project – where previous drilling has already delivered multiple nickel-copper sulphide intercepts.
Terrain Minerals' geophysics have identified five conductors at its Lort River project near Esperance in Western Australia that show the potential for sulphide mineralisation analogous to IGO's renowned Nova-Bollinger deposits in the same mineral belt. Two of the conductors lie on the western periphery of a prominent “eye-shaped” aeromagnetic imagery feature that may also signify a mineralised mafic intrusive.
IGO has struck an agreement deed with Medallion Metals for the possible divestment of assets at its Forrestania project, another step in a major restructuring of its struggling nickel business.
IGO boss Ivan Vella is working through the "difficult process" of redundancies after two of its nickel mines were put on ice, but spruiks there is still life left in Cosmos.
Mark Beyer and Mark Pownall discuss the week in lithium; construction issues; Fortescue's share price tumble; inflationary data; interest rates; house prices; CFMEU action; and Rex's plight.
Buxton Resources is setting out on the trail of encouraging results gleaned last year from its Dogleg nickel-copper-cobalt project in WA's Kimberley region as the company kicks off its new field season with up to eight diamond drillholes. Management is also planning to run extensive moving loop electromagnetic surveys to detect conductivity anomalies that could be related to nickel-copper-cobalt sulphide mineralisation away from previous drilling.
IGO will shortly transition its Forrestania operation into care and maintenance as it nears the end of its mine life, while also flagging job cuts from its exploration and corporate teams.
Legend Mining has reignited its search for nickel and copper at the Octagonal prospect within Western Australia's rugged Fraser Range, launching a new electromagnetic survey following a four-month bad weather delay. The company has confirmed the program at its Rockford project is now firmly back on track and will explore a strong conductive zone on the eastern flank of the prospect.
Terrain Minerals is poised to launch a multi-mineral exploration mission at two projects in Western Australia after bolstering its bank balance with a timely $1.045 million raise from sophisticated and professional investors. The raise, including $102,000 from executive director Justin Virgin, smashed its original $750,000 target out of the park as investors scrambled to be involved in the company's upcoming exploration plans.
IGO is preparing to write down the value of two of its nickel exploration assets by up to $295 million, marking another blow for the miner amid depressed market conditions.
ANALYSIS: When Mark McGowan launched the $750 million Resources Community Investment Initiative more than 18 months ago, nobody expected an upgrade of Paraburdoo hospital would be its inaugural project.
Draft eligibility guidelines for the government's $13 billion critical minerals downstream production tax credits have opened the door for Chinese-owned producers.
IGO managing director Ivan Vella does not believe green premium markets are the way forward for Australian critical minerals, in the wake of recent lithium and nickel price movements.
Regis Resources has applied to join IGO in the legal action South32 launched over a $122 million royalty dispute from the Tropicana gold mine proceeds.
Our weekly appointments wrap includes Anthony O'Neill, Laura Benger, Paul Verity, Matthew Worner, Marie Bourgoin, Brett Salt, Bourby Webster and Simon Williamson.
WA nickel producers will be unable to apply for a royalty relief package announced in February if the price of the commodity remains at its current level.
Buxton Resources has revealed plans to drill-test three new target areas unveiled by high-tech ground moving-loop electromagnetic (MLEM) surveys at its Ranger and Oculus prospects in an upcoming campaign at its Narryer project in Western Australia's Gascoyne region. The company says the surveys provided high-conductance levels up to 10,000 Siemens, indicating the potential for iron-bearing copper-nickel or graphite mineralisation.
St George Mining's latest gravity survey program has unveiled four compelling targets with coincident high gravity and prominent magnetic features at its Destiny project, about 100km south-west of the small Western Australian mining town of Kambalda. The high gravity signatures indicate the potential for similar carbonatite or mafic intrusions found recently to host highly-valuable minerals such as niobium or high-grade rare earths.
Lithium and nickel miner IGO reported a 110 per cent quarter on quarter drop in underlying earnings during the three months to March, leading it to a pre-tax loss of $15 million.
Buxton Resources is poised to launch a drilling campaign to pump up the 2014 mineral resource at its Graphite Bull project in Western Australia's Gascoyne region after securing clearance from a recent Aboriginal heritage survey. The company can now complete infill drilling along a 2.1km potential strike zone where drilling last year confirmed further high-grade graphite mineralisation at the project.
Terrain Minerals is preparing to stare directly into a Nova-style “eye” magnetic feature at its Lort River project, with a detailed airborne electromagnetic survey slated to kick off early next month. The company identified the intriguing feature just eight weeks ago and is wasting no time in refining the target, which displays stark similarities to IGO's Nova-Bollinger nickel-copper-cobalt deposit in Western Australia's prospective Albany-Fraser Belt.
Western Australia will lose its shine as a critical minerals jurisdiction if efforts aren't made to keep up with global trends, according to the head of Tianqi Lithium Energy Australia.
Buxton Resources says samples from its Sun Devil and Aztecs prospects in Arizona have revealed geochemical signatures indicating the sites lie above the main copper molybdenum-enriched zone of a typical porphyry system. The 87 rock chip samples yielded results of up to 3.08 per cent copper, 156ppm molybdenum and 9.34g/t silver, strongly indicating the potential for a copper-porphyry target to exist at depth.
A delegation including Tesla, Forrest empire nickel business Wyloo Metals and lithium producer Pilbara Minerals has met with the federal government over a battery metals production tax credit.
Some old-fashioned detective work has set Terrain Minerals on a pathway to try and emulate Sirius Resources' 2012 discovery of the hulking Nova-Bollinger deposit in WA's Fraser Range. Terrain says its search through old geophysical records identified an intriguing “eye-shaped” feature near its ground similar to the one that led to the Nova-Bollinger base metals discovery – just 300km to the north on the same geological structure.
IGO has recorded a 53 per cent plunge in profit in the first half of this financial year, while having to deal with its Cosmos nickel mine and Kwinana refinery joint venture.
Venus Metals has kicked off its maiden reverse-circulation drill campaign at its Youanmi lithium project where lithium-bearing pegmatites were recently discovered at its highly-compelling Deep South lithium prospect. The Deep South lithium prospect sits 44km south of the Youanmi Gold Mine, which is about 450km north-east of Perth in Western Australia's rugged Murchison region.
Mark Beyer and Mark Pownall discuss Basil Zempilas; Waterbank; Nicola Forrest; Brian Anderson; house prices and interest rates; and Ivan Vella's IGO saga.
IGO's Cosmos nickel mine has become the latest victim of the nickel price crunch, with the company revealing it will shift the project to care and maintenance from the end of May.
Cashed up and ready to drill – Legend Mining has $14 million in the bank and is preparing to dive into a bag of targets at its Rockford project in Western Australia's Fraser Range. The company is looking for magmatic nickel-copper, volcanogenic massive sulphides hosting zinc, copper and silver and structurally-controlled gold in ground that has recently returned some tantalising geophysical hits.
Battery metals miner IGO is bracing for a 20 per cent cut in spodumene sales from its Greenbushes joint venture lithium operation, marking another hit in response to market weakness.
It has been a torrid start to 2024 for WA's nickel miners as ESG credentials appear to take a backseat to low prices for some manufacturers amid global cost of living pressures.
In the next Bulls N' Bears instalment on what made stocks jump in 2023, we look at Buxton Resources' blistering start to last year with a 169 per cent share price jump on the back of graphite drill hits in Western Australia's Gascoyne region. It went from 10.2c in early January to 27.5c the following month … and there was still more to come.
