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Bulls N' Bears 22 Feb 2024

Classic to get US$10m boost to fund Kat Gap gold play

Classic Minerals appears set for a significant financial boost as it pushes towards production at its Kat Gap gold project after executing a binding term sheet with an international fintech for an initial US$10 million. The agreement with Swiss-based AuResources also provides for the advance of a further US$50 million in five tranches of US$10 million each.

Bulls N' Bears 03 Oct 2023

Classic nears full ownership of Forrestania gold project

Classic Minerals appears set to fully own its Forrestania gold project, south of Southern Cross in Western Australia, after it entered into an agreement with Hannans subsidiary Reed Exploration to purchase the final 20 per cent of the operation. Combined with its Kat Gap project, the company's total resource around Forrestania comes to 8.41 million tonnes at 1.45g/t gold for 391,417 ounces.

Bulls N' Bears 19 Dec 2022

Classic locks in $20m funding package ahead of production

Classic Minerals has attracted the interest of global investment group LDA Capital who will provide a $15m equity line over the next three years for Classic to develop its 93,000 ounce high grade Kat Gap gold deposit in WA's Southern Cross region. The company has also locked away a $5m con-note to turbo-charge the funding options for Kat Gap and its greater Forrestania project area.

Bulls N' Bears 16 Nov 2022

Classic Minerals clears final hurdle to gold production

WA-focused gold explorer Classic Minerals has received final approval from the state regulator to produce gold from the company's flagship Kat Gap project south of Southern Cross in WA. The company says over the coming months it will move from a pure explorer to gold producer. Classic intends to take a staged mining approach at Kat Gap as it looks to reduce early overhead costs and mitigate risk.

Bulls N' Bears 10 Oct 2022

Classic nails first assays from mobile gold plant

In a pilot run of its innovative “Gekko” gold processing plant, Classic Minerals has achieved an average grade of 6.06 grams per tonne gold using its first bulk sample of ore from the company's Kat Gap gold resource that averages 2.96 g/t gold. Encouragingly, the pilot head grade was much higher than the average inferred resource grade calculated in April 2020.

Bulls N' Bears 29 Sep 2022

Classic showcases gold processing capability

After a pilot test run to assess the suitability of its plant to process ore from the company's premier Kat Gap deposit, Classic Minerals' Gekko processing plant has outperformed its expectations. The low-cost modular plant delivered more than 95 per cent of the liberated gold through a simple gravity process. After receiving approval for a tailings storage facility the company will now move to assemble its plant before commencing the processing of ore and finally the production of long awaited gold.

Bulls N' Bears 12 Sep 2022

Classic gets Government all-clear for Goldfields mine

Classic Minerals has been given the green light to begin production at its Kat Gap gold mine near Southern Cross after officially receiving WA Department of Mines, Industry Regulation and Safety approval. The Kat Gap deposit hosts almost 93,000 ounces of an inferred mineral resource at 2.96 grams per tonne gold and is the principal contributor to the company's total gold inventory of more than 400,000 ounces.

Bulls N' Bears 09 Sep 2022

Classic bags $10m to fire WA gold play to production

Classic Minerals' share price skyrocketed over 290 per cent during intraday trading after news the company had secured a cash injection worth up to $10 million to take its flagship Kat Gap gold project in WA to production. The deal saw over 200 million securities exchange hands, representing nearly all of its shares on offer as punters clamoured to get in on the action.

Bulls N' Bears 17 Mar 2022

Classic leaps final hurdle in race to WA gold production

Gold-focused Classic Minerals has cleared the final hurdle in its race to develop the Kat Gap gold mine after receiving regulatory approval for its mining operations. With its mining proposal and closure plan now given the green light Classic can progress to full-scale mining. The company is continuing the mining of a 49,000-tonne bulk sample that commenced last year.

Bulls N' Bears 16 Feb 2022

Classic to divest lithium rights at WA gold project

Classic Minerals has entered into a joint venture treaty with Tribitrage Holdings that will see the company offload 80 per cent of its lithium interest rights at two Kat Gap mining tenements in WA. Under the agreement, Tribitrage will cough up $300,000 to claim a majority stake and will be required to spend $500,000 on exploration within the first 2 years.

Bulls N' Bears 14 Feb 2022

Classic clears penultimate hurdle for Kat Gap mine

Classic Minerals has only one hurdle left to clear now to develop its Kat Gap gold mine near Southern Cross after being given a permit to clear native vegetation for its mine and processing plant in WA's goldfields. The company only needs regulatory approval for its mining proposal now including the mine closure plan before it can kick its operation into gear.

Bulls N' Bears 10 Aug 2021

Classic turns first sod in WA trial mining campaign

ASX-listed gold developer, Classic Minerals has moved a step closer to full-scale gold production at its Kat Gap project near Southern Cross having turned the first sod in a trial mining operation. The company is targeting up to 1,000 ounces of gold initially from a bulk sample that will also provide important geological, engineering and metallurgical information prior to full-scale mining of its 93,000-ounce resource.

Bulls N' Bears 30 Jun 2021

Classic Minerals purring on high-grade gold intercepts at Kat Gap

Classic Minerals has hit paydirt at Kat Gap in Western Australia with infill and extensional drilling across its evolving resource area intersecting uber high-grade gold mineralisation. Results include the company's best ever intercept of an impressive 10 metres at 40.54 grams per tonne gold. That drill hit featured an interval of 0.5m going at an astonishing 592 g/t from only 26.5m down-hole.

Bulls N' Bears 26 May 2021

Classic plant on the road to Forrestania

Classic Minerals' customised gold plant is on its way to the company's 404,000-ounce Forrestania gold project south of Southern Cross in WA, where final environmental approvals attached to its granted mining lease for 100 per cent-owned Kat Gap are now awaited. Classic expects to have Kat Gap's native vegetation clearance permit and approved final mining proposal documentation in its hands within three months.

Bulls N' Bears 20 May 2021

Classic clinches Kat Gap native title agreement

Classic Minerals has achieved another significant milestone on the way to production start-up in the form of a native title agreement over the mining area at its developing Kat Gap gold project about 170km south of Southern Cross in WA. The company says it has now executed a Noongar Alternative Heritage Agreement with the South West Aboriginal Land and Sea Council, representing the Ballardong Agreement Group.

Bulls N' Bears 12 May 2021

Classic Minerals takes key step towards gold production in WA

ASX-listed Classic Minerals has successfully commissioned its Australian-designed “Gekko” mobile processing plant in a key step towards producing gold from its Kat Gap gold project south of Southern Cross in WA by August this year. Classic has a granted mining lease and circa-93,000 ounce JORC gold resource at Kat Gap.

Bulls N' Bears 04 May 2021

Last hurdle falls for Classic at Kat Gap

Classic Minerals has ticked the last box on the pathway to production at its high-grade Kat Gap project after the Department of Mines, Industry Regulation and Safety granted its mining lease application. Kat Gap threw up some spectacular high-grade results last year which prompted the company to purchase a mobile plant to mine the near-surface gold.

Bulls N' Bears 26 Nov 2020

Classic clears hurdle on pathway to production

Classic Minerals is edging closer to cashflow after its mining license application for development of the near-surface Kat Gap gold project in WA cleared a major hurdle when Western Areas Ltd withdrew its objection to the application. Fresh from an over-subscribed $1.2 million placement earlier this week, Classic has clear air to move forward with planning to begin mining and gold production at Kat Gap next year.

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