Latest news with #GrantCoyle
Sydney Morning Herald
02-07-2025
- Business
- Sydney Morning Herald
Latitude 66 offloads Qld copper for $2M upfront and future upside
Latitude 66 has cashed in on a non-core asset, locking in $2 million in upfront funding by selling its 17.5 per cent stake in the Greater Duchess copper-gold project in Queensland, which it owns with ASX-listed Carnaby Resources. The company has also positioned itself for a further $4 million windfall if the full project changes hands in the coming months. The company has signed a non-binding term sheet with Argonaut Partners and Neon Space to offload its interest, with a baked-in bonus clause. If the entire joint venture is snapped up within 90 days of the announcement, Latitude will receive a further $4 million in cash or the same value in ASX-listed shares, based on the 30-day volume-weighted average price. 'The sale transaction announced today is in line with our strategy to unlock value from our Australian assets.' Latitude 66 managing director Grant Coyle Alternatively, if the new buyers decide to flick the stake onto a third party other than Carnaby, the company could still bank 50 per cent of any upside above $4 million, giving the deal serious contingent kicker potential. Under the joint venture terms, Carnaby has been formally offered the same deal under a right-of-first-refusal clause. It now has 30 days to match the terms and acquire Latitude's share itself. If Carnaby exercises its right, Argonaut and Neon Space will be compensated with 7.5 million unlisted options in Latitude, exercisable at 7.5 cents and valid until June 2028. Latitude 66 managing director Grant Coyle said: 'The Greater Duchess joint venture is a non-core asset and the sale transaction announced today is in line with our strategy to unlock value from our Australian assets. This transaction is well timed to provide Lat66 with near term, non-dilutive funding that will enable the company to continue advancing its Finnish and Western Australian projects.'
The Age
16-06-2025
- Business
- The Age
Latitude 66 hits gold, cobalt along 2.5km corridor in Finland
Latitude 66 has hit paydirt in northern Finland after a maiden reverse circulation (RC) drilling program at the company's K6 prospect confirmed a 2.5-kilometre-long corridor brimming with gold, cobalt and copper potential. The new discovery has unearthed broad zones of anomalous mineralisation running immediately south from its K1 prospect, which contains 650,000 ounces of gold and 5800 tonnes of cobalt. The tenor and distribution of mineralisation appear to form the outer halo of a much bigger mineralised system at depth. The Perth-based explorer has now completed 12 shallow RC holes for 315 metres at its K6E and K6W prospects. It says the hits have firmed up the underexplored scale of the broader Kuusamo Schist Belt (KSB) project. Drilling focused on zones defined by discrete induced polarisation (IP) chargeability anomalies coincident with surface boulder samples returning up to 8.8 grams per tonne (g/t) gold and 0.6 per cent copper. 'This is an exciting step forward in improving efficient early-stage drilling that has the potential to accelerate exploration.' Latitude 66 managing director Grant Coyle One standout result included 2 metres grading 0.27g/t gold, 0.13 per cent cobalt and 0.35 per cent copper from 4m depth. A further drill hole hit 4m grading 0.01 per cent cobalt. Management says the result is believed to come from a point where two distinct types of rocks meet - one made of felsic volcanic material and the other containing elevated chromium, magnesium and nickel, suggesting a mafic-style formation. Although this contact zone showed up in just one of the 12 drill holes, it seems to match a weak but gradually strengthening geophysical signal that dips gently to the east. Notably, the geophysical signal appears to become more intense at depth. The chargeability peaked at 9 millivolts per volt 100 metres to the east of the contact point in a fold hinge - a structure known to trap high-grade mineralisation elsewhere in the belt.
Sydney Morning Herald
16-06-2025
- Business
- Sydney Morning Herald
Latitude 66 hits gold, cobalt along 2.5km corridor in Finland
Latitude 66 has hit paydirt in northern Finland after a maiden reverse circulation (RC) drilling program at the company's K6 prospect confirmed a 2.5-kilometre-long corridor brimming with gold, cobalt and copper potential. The new discovery has unearthed broad zones of anomalous mineralisation running immediately south from its K1 prospect, which contains 650,000 ounces of gold and 5800 tonnes of cobalt. The tenor and distribution of mineralisation appear to form the outer halo of a much bigger mineralised system at depth. The Perth-based explorer has now completed 12 shallow RC holes for 315 metres at its K6E and K6W prospects. It says the hits have firmed up the underexplored scale of the broader Kuusamo Schist Belt (KSB) project. Drilling focused on zones defined by discrete induced polarisation (IP) chargeability anomalies coincident with surface boulder samples returning up to 8.8 grams per tonne (g/t) gold and 0.6 per cent copper. 'This is an exciting step forward in improving efficient early-stage drilling that has the potential to accelerate exploration.' Latitude 66 managing director Grant Coyle One standout result included 2 metres grading 0.27g/t gold, 0.13 per cent cobalt and 0.35 per cent copper from 4m depth. A further drill hole hit 4m grading 0.01 per cent cobalt. Management says the result is believed to come from a point where two distinct types of rocks meet - one made of felsic volcanic material and the other containing elevated chromium, magnesium and nickel, suggesting a mafic-style formation. Although this contact zone showed up in just one of the 12 drill holes, it seems to match a weak but gradually strengthening geophysical signal that dips gently to the east. Notably, the geophysical signal appears to become more intense at depth. The chargeability peaked at 9 millivolts per volt 100 metres to the east of the contact point in a fold hinge - a structure known to trap high-grade mineralisation elsewhere in the belt.
The Age
24-04-2025
- Business
- The Age
Latitude 66 preps for epic EU-funded, deep-rock critical minerals hunt
Latitude 66's KSB project in Finland is a key part of a wide-scale, €5 million (A$8.91M) European Union-funded, deep-rock geophysical and geological exploration and innovation program that will hunt for new critical mineral resources. The imminent UNDERCOVER project aims to increase raw materials production and will include Finland's Kuusamo Schist Belt, on which Latitude 66's flagship project sits. UNDERCOVER – an acronym for 'unified novel deep exploration for critical ore discovery' – is being funded through the European Union's Horizon Europe research and innovation program. UNDERCOVER aims to also develop new technologies to advance critical raw materials exploration to about 1000 metres vertical depth. The program will comprise extensive seismic and electromagnetic geophysical measurements across multiple Finnish municipalities located around Latitude 66's flagship grounds, including Kuusamo, Posio, Taivalkoski, Ranua, Salla, Kemijärvi, Rovaniemi and Pudasjärvi. The project's studies will extend beyond Finland to the Iberian Pyrite Belt in Portugal and the Kalahari Copper Belt in Namibia, where it will also develop and integrate new exploration technologies and targeting methodologies. 'It's exciting for the first work program of the UNDERCOVER project to commence… The work program covers Lat66's 100%-owned KSB project, where we recently completed a robust scoping study that demonstrates potential for a standalone gold-cobalt development with upside potential.' Latitude 66 managing director Grant Coyle Latitude 66's managing director Grant Coyle said: 'It's exciting for the first work program of the UNDERCOVER project to commence… The work program covers Lat66's 100%-owned KSB project, where we recently completed a robust scoping study that demonstrates potential for a standalone gold-cobalt development with upside potential.' Data collected within the geophysical program will help Latitude 66 develop further exploration targets, which could expand the company's KSB project, Coyle said.
Sydney Morning Herald
24-04-2025
- Business
- Sydney Morning Herald
Latitude 66 preps for epic EU-funded, deep-rock critical minerals hunt
Latitude 66's KSB project in Finland is a key part of a wide-scale, €5 million (A$8.91M) European Union-funded, deep-rock geophysical and geological exploration and innovation program that will hunt for new critical mineral resources. The imminent UNDERCOVER project aims to increase raw materials production and will include Finland's Kuusamo Schist Belt, on which Latitude 66's flagship project sits. UNDERCOVER – an acronym for 'unified novel deep exploration for critical ore discovery' – is being funded through the European Union's Horizon Europe research and innovation program. UNDERCOVER aims to also develop new technologies to advance critical raw materials exploration to about 1000 metres vertical depth. The program will comprise extensive seismic and electromagnetic geophysical measurements across multiple Finnish municipalities located around Latitude 66's flagship grounds, including Kuusamo, Posio, Taivalkoski, Ranua, Salla, Kemijärvi, Rovaniemi and Pudasjärvi. The project's studies will extend beyond Finland to the Iberian Pyrite Belt in Portugal and the Kalahari Copper Belt in Namibia, where it will also develop and integrate new exploration technologies and targeting methodologies. 'It's exciting for the first work program of the UNDERCOVER project to commence… The work program covers Lat66's 100%-owned KSB project, where we recently completed a robust scoping study that demonstrates potential for a standalone gold-cobalt development with upside potential.' Latitude 66 managing director Grant Coyle Latitude 66's managing director Grant Coyle said: 'It's exciting for the first work program of the UNDERCOVER project to commence… The work program covers Lat66's 100%-owned KSB project, where we recently completed a robust scoping study that demonstrates potential for a standalone gold-cobalt development with upside potential.' Data collected within the geophysical program will help Latitude 66 develop further exploration targets, which could expand the company's KSB project, Coyle said.
