Latest news with #JavelinMinerals
News.com.au
6 days ago
- Business
- News.com.au
These ASX goldies are close to unlocking producer status
With the soaring gold price, Australia's next mob of near-term producers are champing at the bit to get their projects up and running. The timing couldn't be better to open a new gold mine, with price above A$5100/oz at the time of writing. Gold projects are unique in the mining world. With the advantage of installed infrastructure and a high price relative to more common metals, even a small gold operation can be a money-spinner. That means junior operators can quickly open up and generate cash from relatively modest operations with construction timelines that run shorter than a two-bed house. In a sign of the times nano-cap gold explorer Javelin Minerals (ASX:JAV) is chasing the goal of mining the ~34,000 recoverable ounces at its Eureka project in WA from the first quarter of 2026. One of two advanced projects on the company's books along with the formerly Ramelius Resources operated Coogee project east of Kalgoorlie, the decision to push ahead with Eureka could put $25-30m in the bank account of a company currently capped at just $12.5m. "When we executed the agreement to acquire Eureka, the gold price was around $3000 Aussie, which is only around 12 months ago when we first negotiated the transaction," Javelin executive chairman Brett Mitchell said. "The fact that it's up 40% from there, it opens up possibilities that we haven't seen before and the sector hasn't seen before, which is really exciting. " Assets that sort of haven't seen the light of day previously in larger companies are available and potentially to be picked up by smaller companies and developed." The project hosts a resource of 2.45mt at 1.42g/t Au for 112,000 ounces, including 62,000oz indicated, and a quick pathway to mining means the company could create rapid value in the current record high gold price environment. JAV is considering several options to mill its ore nearby, including the Paddington gold operations owned by Chinese giant Zijin Mining just 20km away. Engineering studies and the approval process for the restart of mining are well advanced, with the board aiming to be mining within 12 months. There's also room to grow the resource, with exploration progressing in parallel. That's a major benefit of the decision to mine at Eureka, which will see a contractor take on the risk of funding the development while Javelin rakes in millions in fresh capital without diluting shareholders. " A) it is transformational, b) it enables us to go and self-fund without any more requirement for capital, allowing further exploration at Eureka and Coogee," Mitchell said. "We can also look at other complementary gold project acquisitions in and around the WA Goldfields." Big and small developers heading for producer status Javelin isn't the only ASX gold explorer en route to becoming a producer in quick time. Here's a run down of some of the miners running hard toward development. Star Minerals (ASX:SMS) Star Minerals is aiming to become a small-scale gold producer at its 45,000oz Tumblegum South project as soon as 2026. A scoping study for the project suggested at gold prices from A$3000 to A$3800/oz the updated production target for the project ranges from approximately 167,000t at 2.43g/t producing 11,800oz gold, to 255,000t at 2.16g/t producing 15,900oz gold. That would generate an undiscounted accumulated cash surplus after payment of all working capital costs, but excluding pre-mining capital requirements, of approximately A$9.4m to A$19.6m. Drill results are pending from a recent program, with the company aiming to convert any remaining shallow inferred resources to indicated within the optimised pit in the project's scoping study. Once operational, the project could feed underutilised mills operated by the likes of Westgold Resources (ASX:WGX) and Catalyst Metals (ASX:CYL). Ausgold (ASX:AUC) AUC will take a little longer to get there, but will be ensconced in the ASX's prospective mid-tier once in production around 2027, after releasing a definitive feasibility study for its Katanning gold project in WA. AUC holds over 3500km2 of what's essentially an entire greenstone belt in WA's Great Southern region, and had an unconstrained resource of 3.04Moz of gold at an average grade of 1.06g/t. As part of the DFS, that was updated to stand at 69Mt at 1.11g/t for 2.44 million ounces of contained gold, constrained to an economic $4500/oz pit shell. The study also detailed an average annual gold production of 140,000oz over the first four years through a 3.6Mtpa processing plant, producing 1.14Moz in total over the mine's first decade. At a fairly modest gold price of A$4300/oz, strong project economics include a post-tax cashflow of A$1.37Bn, IRR of 53%, with all in sustaining costs of A$2180/oz over first four years and A$2265/oz over the life-of-mine. At a recent spot gold price of approximately A$5000/oz (US$3250/oz), the study flags a post-tax cashflow of A$1.36 billion (US$0.88 billion) and IRR of 68%. The plan now is to progress to a final investment decision, with AUC last week banking a $35m cap raising which will enable the purchase of long lead time items and ongoing exploration. Theta Gold Mines (ASX:TGM) Theta is targeting production at its 6.1Moz Transvaal Gold Mining Estates project in 2027, spurred on by record gold prices, announcing a decision to mine last month. The historic South African gold field sits 370km northeast of the global gold and business hub of Johannesburg, near the original gold rush town of Pilgrim's Rest in Mpumalanga. And with spot prices around double that used in the company's 2022 feasibility study it's no wonder TGM is racing to get into production. The old study suggested the project could produce 80-100,000ozpa over a near 13-year mine life at an all-in sustaining cost of just US$834/oz. An updated study is due in September and is expected to deliver vastly superior economics, with the development already boasting a positive net present value of US$432 million on pre-boom prices. Sydney-based equity markets advisory firm RaaS Research Group said last week the company could be due a re-rate once it's in production. On the funding front, TGM has secured a credit approved loan facility agreement and indicative funding terms from the Industrial Development Corporation for a US$35m loan. Forming part of the overall project debt funding, it will make the South African government credit agency a key stakeholder in the project. Challenger Gold (ASX:CEL) Challenger is targeting production later this year for its Hualilán gold project in Argentina. The company is in the midst of metallurgical testwork which is expected to be completed by Q4 2025 ahead of a standalone pre-feasibility study at the project. The company is aiming to confirm heap leaching as a viable pathway for processing low-grade material that was previously excluded from economic evaluation. 'This could materially enhance the scale, economics and development pathway for Hualilan, positioning it as a standout gold project in Argentina,' MD Kris Knauer said this week. CEL also has a three-year toll milling strategy on the cards which – based on conservative spot prices of US$2500/oz for gold and US$27.50/oz for silver – anticipates EBITDA of A$136 million, a post-tax NPV of US$50.5 million, and cumulative post-tax-free cash flow of US$56.7 million. Using a gold price of US$3300/oz, this EBITDA increases to A$221 million. These impressive financial metrics are from toll milling through Austral Gold's Casposo mill, which is based on exploiting only 3% of the current 2.8Moz resource at Hualilan. Mining will be focused on three shallow open pits producing 465,000 wet metric tonnes of mineralised material above the cut-off grade at an average mined grade of 6.2g/t gold and 35g/t silver. Ore will be hauled 165km on a sealed highway to the fully permitted Casposo plant, where recoveries are expected of 84.4% gold and 65.7% silver. West Wits Mining (ASX:WWI) The company is bringing one of the Witwatersrand Basin's historic gold fields back into production, after kicking off development of its Qala Shallows project last month. The 70,000ozpa development is the first step on the road to a potential 200,000ozpa production hub in the South African basin, the world's most productive gold basin responsible for turning out more than 1.5Boz of the precious metal since 1886. WWI controls more than 5Moz and recently executed a buyback agreement taking its stake in the Witwatersrand Basin project from 66.6% to 74%, giving the company more control over the project as commodity prices sit at record levels of ~US$3300/oz. An update to the project's definitive feasibility study is underway to reflect improved economics at higher gold prices – with the old study assuming a price of just US$1850/oz. Updated economics are expected to deliver a lower peak funding requirement, shortened payback period and higher NPV, plus an updated mine plan based on a lower cut-off grade. The company is targeting first gold pour from the project in Q4 this year. Western Gold Resources (ASX:WGR) WGR is fast-tracking its Gold Duke mine into production after securing a binding toll milling agreement with Wiluna Mining Corporation last month. The project hosts shallow, free-milling ore, enabling rapid, low-cost open-pit extraction and early access to production and is just 46km from the Wiluna processing plant. The agreement duration is 24 months, allowing the company to lock in its Stage 1 production, which involves the production of 447,000t at 2.55g/t gold for 34,000oz of gold from the Eagle, Emu, Gold King and Golden Monarch deposits. This was based on the 2024 scoping study which assumed gold price of $3500/oz, well below the current Australian gold price above the $5100/oz mark. An updated scoping study is expected this month. While stage 1 is underway, WGR will also be able to simultaneously develop Stage 2 for potential extensions to the life of mine (LOM) such as Joyners Find and Bottom Camp. 'This marks a monumental leap forward for Western Gold Resources and with gold prices surging, all mining approvals in place and a preferred contractor selected, we are well positioned to accelerate our transition to a gold producer,' MD Cullum Winn said. The company isn't resting on its laurels either, with exploration planned at several brownfields targets including Joyners Find, Bottom Camp, Emu/Eagle Saddle and Gold King/Golden Monarch Saddle. At Stockhead, we tell it like it is. While Javelin Minerals, Star Minerals, Ausgold, Theta Gold Mines, Challenger Gold, West Wits Mining and Western Gold Resources
News.com.au
01-07-2025
- Business
- News.com.au
Top 10 at 11: Info tech lifts ASX as small caps revamp capital and asset structures
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. ASX tips up in early trade The ASX 200 has risen 0.2% in the first hour of trade, led higher by a strong 1.22% gain in the info tech sector. There's a broad show of strength in the market this morning, with 9 of 11 sectors in the green and the ASX All Ord Gold index climbing 1.08%. Materials (-0.22%) and financials (-0.22%) are lagging in the sectors at present, while the ASX 200 Banks adds its own weight, sliding 0.63%. Let's see who's making waves on the ASX this morning… WINNERS Code Name Last % Change Volume Market Cap EWC Energy World Corpor. 0.063 200% 4333293 $64,657,346 NXS Next Science Limited 0.125 87% 486562 $19,574,736 JAV Javelin Minerals Ltd 0.003 50% 1000000 $12,252,298 TEG Triangle Energy Ltd 0.003 50% 774532 $4,178,468 M2R Miramar 0.004 33% 150000 $2,990,470 MRQ Mrg Metals Limited 0.004 33% 250000 $8,179,556 RNX Renegade Exploration 0.004 33% 1125000 $3,865,090 VFX Visionflex Group Ltd 0.002 33% 1000000 $5,051,791 WBE Whitebark Energy 0.004 33% 166666 $2,062,001 HMD Heramed Limited 0.009 29% 1232196 $6,129,219 In the news... Energy World (ASX:EWC) is preparing to restructure its capital and management under a proposal that would see US$440 million in debt transformed into shares. EWC is converting its debt with Slipform Engineering Group into shares at $0.88 each, 44-times its current 30-day VWAP of $0.02. EWC managing director Brian Allen will also step down from the position after 24 years, with new interim chair Alan Jowell and CEO Edward McCartin taking up their roles effective today. The company has opted to engage in a share conversion with Slipform, owned by the Elliott family (founder Stewart Elliott passed away last year), in order to repay the outstanding debt. Next Science (ASX:NXS) is looking to offload the vast majority of its assets and intellectual property in an asset purchase agreement with Demetra Holdings S.p.A for a total sale price of US$50 million. NXS will retain ownership of the durable medical equipment and intends to return the net proceeds of the sale to shareholders to the tune of US$30million. Management has signalled it intends to vote in favour of the transaction at the next EGM. MRG Metals (ASX:MRG) has secured a mining licence for the fully funded Corridor Sands heavy mineral project, covering the Nhacutse and Poiombo deposits. They're home to a 257Mt JORC resource at 6% total heavy mineral sands, which can now be added to the 103Mt at 6.6% THM Koko Massava deposit, which has already been licenced. MRG plans to get Corridor Sands up and running within the next year to 18 months. Renegade Exploration (ASX:RNX) has unearthed multiple silver rock chips grading above 1000 g/t at the Broken Hills project in Nevada, US. Five rock chips exceeded 1020 g/t silver with additional gold values up to 16.21 g/t gold, peaking at 2469 g/t silver. LAGGARDS Code Name Last % Change Volume Market Cap VML Vital Metals Limited 0.03 -70% 48 $11,790,134 EEL Enrg Elements Ltd 0.001 -33% 2450000 $4,880,668 AN1 Anagenics Limited 0.004 -20% 30000 $2,481,602 RCM Rapid Critical 0.002 -20% 1000000 $3,539,445 SIS Simble Solutions 0.004 -20% 250000 $5,411,652 SRJ SRJ Technologies 0.004 -20% 3318120 $3,027,890 AR9 Archtis Limited 0.19 -17% 834556 $66,232,445 FBR FBR Ltd 0.005 -17% 213000 $34,136,713 PRM Prominence Energy 0.0025 -17% 78495 $1,459,411
News.com.au
26-06-2025
- Business
- News.com.au
Top 10 at 11: ASX slides on tech weakness; RCM prepares to snap up silver projects
Morning, and welcome to Stockhead's Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading. With the market opening at 10am sharp eastern time, the data is taken at 10.15am, once trading kicks off in earnest. In brief, this is what the market has been up to this morning. ASX dips as info tech slumps The ASX 200 opened with a bit of whimper this morning, down 0.10% as of about 10:30 am AEST. The info tech sector has already shed 2.65%, cutting the market's momentum before it even crosses the starting line. Of the 11 sectors, eight are in the red. Only health care (+0.35%) materials (+0.31%) and consumer discretionary (+0.13%) are showing any signs of life at present. Oil recovered marginally overnight, lifting 0.9% to about US$67.75 a barrel of Brent while gold added 0.3%, touching US$3,343.10 an ounce. The ASX 200 Resources is moving higher, up 0.24%. A handful of our small cap winners are contributing to that momentum this morning, so let's dive in… WINNERS Code Name Last % Change Volume Market Cap VML Vital Metals Limited 0.002 100% 1051000 $5,895,067 ALR Altairminerals 0.003 50% 168333 $8,593,488 JAV Javelin Minerals Ltd 0.003 50% 332333 $12,252,298 PAB Patrys Limited 0.0015 50% 513085 $2,365,810 RCM Rapid Critical 0.003 50% 4733333 $2,831,556 BP8 Bph Global Ltd 0.002 33% 100000 $1,576,477 OPL Opyl Limited 0.024 26% 1515675 $4,464,398 OVT Ovanti Limited 0.01 25% 1.01E+08 $24,044,120 TEG Triangle Energy Ltd 0.0025 25% 2243226 $4,178,468 VRX VRX Silica Ltd 0.086 23% 945524 $52,311,230 In the news... Rapid Critical Metals (ASX:RCM) has its eyes set on the Conrad and Webbs silver projects in New South Wales after securing firm commitments to raise $10.5m in a share placement at $0.024 a share. Webbs hosts a JORC mineral resource of 14.2Moz of contained silver equivalent, while Conrad is home to 20.72Moz. There's been no modern exploration on either project for a decade, offering an opportunity to expand and upgrade existing resource estimates. RCM will begin with the Webbs project, employing targeted geophysics, drilling and metallurgical studies. Opyl (ASX:OPL) is building a strategic cryptocurrency holding, leveraging the expertise of non-executive director Antanas Guoga, better known as Tony G. A former member of the European Parliament, Tony is chair of SOL Strategies, a publicly traded Canadian company that operates in the Solana ecosystem of cryptocurrency with a market cap of CAD$375M. Tony is offering access to $2m in a finance facility with an initial term of 2 years at an annual interest rate of 6.5%, secured against OPL's bitcoin holdings. OPL reckons with the recent adoption of bitcoin and similar cryptocurrencies by major financial institutions and governments, the asset class is gaining momentum and offers high levels of liquidity. VRX Silica (ASX:VRX) has received the green light from the WA Minister for Environment for its environmental protection proposal at the Arrowsmith North silica sand project. VRX had already received a tick of approval from the Environmental Protection Authority for its development proposal, but an appeal from the Conservation Council of WA prompted an investigation by the Minister's office. The minister allowed the appeal in part and accepted recommendations to amend conditions addressing vegetation dieback, which VRX has previously accepted as an amendment. LAGGARDS Code Name Last % Change Volume Market Cap SFG Seafarms Group Ltd 0.001 -50% 700000 $9,673,198 CZN Corazon Ltd 0.001 -33% 400000 $1,776,858 QXR Qx Resources Limited 0.002 -33% 7692 $3,930,987 TML Timah Resources Ltd 0.024 -31% 10000 $3,106,592 C7A Clara Resources 0.003 -25% 5297657 $2,353,084 TGH Terragen 0.018 -18% 16000 $11,110,378 ALY Alchemy Resource Ltd 0.005 -17% 35000 $7,068,458 FBR FBR Ltd 0.005 -17% 1056929 $34,136,713 PIL Peppermint Inv Ltd 0.0025 -17% 177 $6,903,269 PGY Pilot Energy Ltd 0.006 -14% 1471428 $15,110,620
The Age
17-06-2025
- Business
- The Age
Javelin eyes hidden gold-copper trove in WA Eastern Goldfields
ASX-listed Javelin Minerals has zeroed in on a suite of highly prospective, undercover gold and copper targets at its Coogee West project in Western Australia's Eastern Goldfields, setting the stage for high-impact drilling in the September quarter. The company's latest geophysical review, run by Core Geophysics, has peeled back the layers at Coogee West to reveal a compelling treasure map of high-priority anomalies lurking beneath shallow alluvial cover. Historical, wide-spaced air core drilling in parts of the Coogee West barely scratched the surface, only reaching depths of up to 30 metres. The new drilling campaign will be designed to dive deeper and get below the cover that is currently masking the potential treasures lurking beneath. Javelin says two of the five targets stretch 2 to 3 kilometres in strike length and have never been touched by a drill bit. 'We know that Coogee hosts a significant gold system in a world-class location, situated on the edge of the renowned St Ives goldfield. Despite these outstanding credentials, large areas of the project remain undrilled.' Javelin Resources executive chairman Brett Mitchell Leading the charge for priority drilling is a standout 'bullseye' anomaly 1.5km west of the Coogee pit. The high-contrast magnetic hotspot starts 300m below surface and plunges to a depth of 1km. As yet, it remains completely untested. A similar, though smaller, anomaly just southwest of the main target is also on the company's radar. This target shares the same rock structure as the Coogee pit and was first tested in 2015 by Ramelius Resources, which picked up broad gold hits with minor copper from two diamond holes. Wide-spaced air core drilling later followed before Ramelius walked away, leaving much of the area underexplored. A few kilometres west of the bullseye, two additional magnetic targets stretching across a combined 4.8km of strike have also been identified. The company believes these may be magnetite-pyrite-rich structural corridors, often associated with high-grade gold and could hold significant mineralisation.
Sydney Morning Herald
17-06-2025
- Business
- Sydney Morning Herald
Javelin eyes hidden gold-copper trove in WA Eastern Goldfields
ASX-listed Javelin Minerals has zeroed in on a suite of highly prospective, undercover gold and copper targets at its Coogee West project in Western Australia's Eastern Goldfields, setting the stage for high-impact drilling in the September quarter. The company's latest geophysical review, run by Core Geophysics, has peeled back the layers at Coogee West to reveal a compelling treasure map of high-priority anomalies lurking beneath shallow alluvial cover. Historical, wide-spaced air core drilling in parts of the Coogee West barely scratched the surface, only reaching depths of up to 30 metres. The new drilling campaign will be designed to dive deeper and get below the cover that is currently masking the potential treasures lurking beneath. Javelin says two of the five targets stretch 2 to 3 kilometres in strike length and have never been touched by a drill bit. 'We know that Coogee hosts a significant gold system in a world-class location, situated on the edge of the renowned St Ives goldfield. Despite these outstanding credentials, large areas of the project remain undrilled.' Javelin Resources executive chairman Brett Mitchell Leading the charge for priority drilling is a standout 'bullseye' anomaly 1.5km west of the Coogee pit. The high-contrast magnetic hotspot starts 300m below surface and plunges to a depth of 1km. As yet, it remains completely untested. A similar, though smaller, anomaly just southwest of the main target is also on the company's radar. This target shares the same rock structure as the Coogee pit and was first tested in 2015 by Ramelius Resources, which picked up broad gold hits with minor copper from two diamond holes. Wide-spaced air core drilling later followed before Ramelius walked away, leaving much of the area underexplored. A few kilometres west of the bullseye, two additional magnetic targets stretching across a combined 4.8km of strike have also been identified. The company believes these may be magnetite-pyrite-rich structural corridors, often associated with high-grade gold and could hold significant mineralisation.
