Latest news with #JonathanDownes
The Age
08-07-2025
- Business
- The Age
Tassie mine acquisition turns Kaiser into multi-asset gold producer
Since completing its Tasmanian Henty gold mine acquisition in mid-May, Kaiser Reef has processed 35,853 dry tonnes of ore gold at a head grade of 4.05g/t for 4069 ounces of gold, transforming it into a multi-asset gold producer. Kaiser is bedding the Henty operation down nicely, achieving an 87.1 per cent metallurgical recovery rate in its first 1.5 months of ownership. And a quick look at the operation's recovery history suggests there may be room for further recovery gains. In 2021, then-owner Catalyst Metals reported an average 94.5 per cent recovery rate at Henty. Before Catalyst took over, the mine had an average metallurgical recovery rate of 76.1 per cent. Catalyst attributed its significant improvement to an improved process plant leach environment, including optimised cyanide levels, while retaining a low tails grade of 0.27g/t gold. Kaiser Reef managing director Jonathan Downes said: ' This has been a landmark quarter for Kaiser, headlined by the acquisition of the Henty gold mine in Tasmania, a profitable production centre with at least a 5-year mine life, based on reserves, and fantastic exploration potential.' 'This is the single biggest quarter of production for Kaiser and we look forward to building from here.' Kaiser Reef managing director Jonathan Downes Kaiser Reef is a high-grade gold mining and exploration company with a focus on mining and exploring for gold in Tasmania and the Victorian goldfields, which have a long and storied mining history. Downes said that with the Henty acquisition, Kaiser's transformation into a three-gold project operation, including two operational mines and two processing plants, had combined with the current stellar gold price environment to give the company its single biggest quarter of production. In addition to Henty, Kaiser owns and operates the A1 gold mine, the Maldon gold mine in Victoria, which is on care and maintenance, and the Maldon gold processing plant.
Sydney Morning Herald
08-07-2025
- Business
- Sydney Morning Herald
Tassie mine acquisition turns Kaiser into multi-asset gold producer
Since completing its Tasmanian Henty gold mine acquisition in mid-May, Kaiser Reef has processed 35,853 dry tonnes of ore gold at a head grade of 4.05g/t for 4069 ounces of gold, transforming it into a multi-asset gold producer. Kaiser is bedding the Henty operation down nicely, achieving an 87.1 per cent metallurgical recovery rate in its first 1.5 months of ownership. And a quick look at the operation's recovery history suggests there may be room for further recovery gains. In 2021, then-owner Catalyst Metals reported an average 94.5 per cent recovery rate at Henty. Before Catalyst took over, the mine had an average metallurgical recovery rate of 76.1 per cent. Catalyst attributed its significant improvement to an improved process plant leach environment, including optimised cyanide levels, while retaining a low tails grade of 0.27g/t gold. Kaiser Reef managing director Jonathan Downes said: ' This has been a landmark quarter for Kaiser, headlined by the acquisition of the Henty gold mine in Tasmania, a profitable production centre with at least a 5-year mine life, based on reserves, and fantastic exploration potential.' 'This is the single biggest quarter of production for Kaiser and we look forward to building from here.' Kaiser Reef managing director Jonathan Downes Kaiser Reef is a high-grade gold mining and exploration company with a focus on mining and exploring for gold in Tasmania and the Victorian goldfields, which have a long and storied mining history. Downes said that with the Henty acquisition, Kaiser's transformation into a three-gold project operation, including two operational mines and two processing plants, had combined with the current stellar gold price environment to give the company its single biggest quarter of production. In addition to Henty, Kaiser owns and operates the A1 gold mine, the Maldon gold mine in Victoria, which is on care and maintenance, and the Maldon gold processing plant.
Yahoo
25-03-2025
- Business
- Yahoo
Kaiser to acquire Henty gold mine in Australia from Catalyst for $19.8m
Australia-based Kaiser Reef has entered into a definitive agreement with Catalyst Metals to acquire the Henty gold mine and associated exploration tenements in north-western Tasmania in a deal valued at A$31.6m. Under the deal, Kaiser will make an upfront payment of A$15m and issue A$16.6m in shares, offering Catalyst a 19.99% stake in the company. The deal also includes deferred payments of 50oz per month, up to a maximum of 3,000oz, a royalty agreement and reimbursement of A$3.9m in environmental bond payments. Additionally, the agreement includes an option agreement allowing Catalyst to form a joint venture (JV) with Kaiser for the Maldon processing plant in Victoria. The option can facilitate plant expansion and increase the scale of operation. Following the acquisition, Kaiser's enterprise value will reach A$67m, encompassing three gold mines, including one under care and maintenance and two gold processing plants. Kaiser managing director Jonathan Downes said: 'Catalyst has done a great job building a profitable operation at Henty over the last four years, with clear production and mine life visibility, plus some great exploration targets. 'Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst's continued involvement and exposure to the upside at Henty, both as Kaiser's major shareholder and through their board representation. 'The option for Kaiser and Catalyst to enter into a 50/50 JV partnership at the Maldon processing plant gives both parties a clear pathway that supports their Victorian ambitions. A joint venture can unlock the benefits that would come with plant expansion and increased operational scale, and we look forward to working with Catalyst as JV partners if they execute the option.' Kaiser has also announced that it has secured binding commitments for A$30m through a two-tranche placement of new shares to fund the acquisition. The funds will cover the cash consideration and transaction costs and provide working capital for growth initiatives. The commitments include A$9.1m secured under existing capacity with the remaining A$20.9m pending shareholder approval in May. An additional A$10m has been secured through a senior secured gold loan and an unsecured prepayment facility with Auramet International. A general meeting of shareholders is scheduled for early May 2025 to approve the transaction and related funding arrangements. The Henty gold mine is a gold production platform with a historical yield of 1.4 million ounces at 8.9 grams per tonne (g/t). The current ore reserve of the mine is 1.2 million tonnes at 4g/t for 154,000oz. The addition of the Henty gold mine is expected to increase Kaiser's annual gold production to more than 30,000oz, positioning the company as a multi-asset gold producer in the existing high-gold-price scenario. The company is targeting 50,000oz of gold production per annum in the short term. In May 2024, Ragnar Metals reached a strategic investment agreement with Kaiser Reef to acquire a stake in the company. "Kaiser to acquire Henty gold mine in Australia from Catalyst for $19.8m" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
