Latest news with #Minerals260
Daily Telegraph
06-07-2025
- Business
- Daily Telegraph
Stock Tips: An iron giant makes its presence felt
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. It's no easy gig analysing share prices and company performance but somebody's got to do it. Every week two experts from our Share Tips columnist pool give us their recommendations. Andrew Eddy – Morgans Financial BUY Minerals 260 (MI6) Offers significant gold resource growth potential, clear M&A appeal and a path to production. Not without risk but see significant upside potential. Motorcycle Holdings (MTO) Has acquired profitable dealerships, expanded into new markets and strengthened its e-commerce capabilities, positioning itself for significant growth. HOLD Transurban Group (TCL) Offers stable returns with high-quality toll road assets, driven by population growth, economic development and strong pricing power through toll escalations James Hardie (JHX) The highest quality building products business on the ASX, with strong returns on capital and a dominant market position – just need to see an improving housing outlook in the US to become more bullish. SELL Santos (STO) Investors might consider taking some money off the table with Santos with limited upside to bid price but there are significant risks and hurdles for a deal to be completed. Cochlear (COH) Company recently downgraded guidance on slower growth in services and Cochlear Implant uptake, still a quality stock but further downside earnings risks remain. Dylan Evans – Catapult Wealth BUY CSL Ltd (CSL) The uncertain trade and tariff environment provides an opportunity to purchase a business reporting double digit earnings growth at a compelling price. RIO Tinto (RIO) RIO has exposure to iron ore, aluminium, copper and lithium. Iron ore is unlikely to offer growth moving forward, but the remaining areas of the business play into attractive themes, particularly the growing demand for electricity, batteries, and other technologies. HOLD Technology One (TNE) Australia's leading enterprise software company has been delivering fantastic results with consistent momentum. TNE hit its $500m annual recurring revenue target in May, 18 months ahead of schedule, and the company is now targeting $1bn by 2030. Virgin Australia (VGN) Virgin's return to the ASX is well timed, against a favourable backdrop of lower fuel prices and falling rates. With that said we are cautious of owning airlines for any long period, being a cyclical industry with a history of insolvencies and administrations. SELL BlueScope Steel (BSL) While BlueScope's move into downstream construction markets is positive, the underlying business operates in a low margin industry heavily reliant on volatile energy costs and steel prices. Washington H Soul Pattinson (SOL) Washington Soul Pattinson recently announced a merger with Brickworks (BKW), two companies with a long history of cross-ownership. The merger makes sense, but the share price has rallied considerably. The views, information, or opinions expressed in the interviews in this article are solely those of the interviewees and do not represent the views of Stockhead. Stockhead does not provide, endorse or otherwise assume responsibility for any financial advice contained in this article. Originally published as Stock Tips: An iron giant and a biotech behemoth make their presence felt
West Australian
03-07-2025
- Business
- West Australian
BMG to test gold targets next to major Eastern Goldfields mine
BMG Resources has kicked off a 30-hole reverse circulation drilling program for a planned 3000 metres at its Bullabulling North gold project near Coolgardie in Western Australia's Eastern Goldfields. The program will follow up high-grade gold results from BMG's earlier scout drilling, which include 2m assaying an impressive 18.1 grams per tonne (g/t) gold from 34m, 12m at 2.3g/t gold from 53m and 4m going 10.12g/t gold from 32m. Scout drilling also intersected 4m assaying 2.37g/t gold from 53m and 1m running 10.6g/t gold from 58m. Reconnaissance drilling at Bullabulling North has returned several near-surface intercepts of high-grade gold and identified four priority prospects in the tenement block: Poolmans, Peach, Grizzly and Flame. BMG's encouraging reconnaissance results are supported by historical assays from shallow rotary air-blast (RAB) drilling, which returned 5m at 2.5g/t gold from 36m, 2m running 5.7g/t from 49m, 1m going 3.02g/t gold from 37m, 2m at 1.71g/t gold from 41m and 3m at 5.9g/t gold from 27m. BMG has been further motivated by the project's proximity to explorer Minerals 260's 60-million-tonne, 2.3-million-ounce Bullabulling gold mine. The big mine sits about 14 kilometres south of the centre of BMG's Bullabulling North tenement block within an interpreted continuity of north-south striking greenstone lithologies. The two properties enclose the same or very similar prospective ultramafic rocks. A host of gold occurrences has been mapped along the greenstone trend over a total strike distance of almost 23km from Bullabulling North to about 6km south of the Bullabulling mine. Intriguingly, the narrow but strike-persistent greenstone belt traces a classic sigmoidal or S-shaped structural trend along the entire 23km strike, which offers a possible clue to the regional structural stress regime that might have opened conduits for mineralising solutions and gold deposition sites. That structural model suggests the Bullabulling mine sits on the southern maximum stress centre - the sharpest arc of the 'S' - while BMG's northern tenement block occupies the complementary northern stress centre. BMG has not failed to notice that Bullabulling has become one of the hot addresses in the Eastern Goldfields, following Minerals 260's acquisition of the Bullabulling gold mine, described as one of Australia's biggest near-term gold projects. The mine was formerly owned by privately held Norton Gold Fields, which is majority owned by China's largest gold producer, Zijin Mining Group. The April acquisition of Bullabulling following a $200 million capital raising propelled Tim Goyder's Minerals 260 to a current market capitalisation of just under $250 million. Apart from the Bullabulling North ground, BMG also holds two other strategically located tenement blocks within hailing distance of the Bullabulling gold mine. These include Bullabulling West, centred a mere 4.5km west of the Bullabulling gold mine, and Bullabulling East, a smaller holding on a separate thin greenstone belt, 11.5km east of the big mine. The company's tenement blocks west of Coolgardie are all well-situated, with two of them straddling the Great Eastern Highway. All of BMG's ground offers ready access to existing transport infrastructure, extensive access to experienced mining services and several processing facilities within trucking distance. Meanwhile at BMG's Poolmans prospect, multiple encouraging intercepts include 3m at 5.9g/t gold from 27m, 4m at 10.12g/t gold and 1m at 10.65g/t gold. Drilling at Poolmans will test the extents of gold lodes along strike and down-dip, and also for parallel structures. The company will also drill scissored pairs of holes to better define the strike and dips of possible multiple lodes. BMG expects analytical results in late July to early August. Is your ASX-listed company doing something interesting? Contact:
West Australian
26-05-2025
- Business
- West Australian
Shire of Coolgardie to consider lowering proposed 2025-26 mining rates hike following backlash
The Shire of Coolgardie will consider lowering its proposed sky-high mining rates hike for 2025-26 after a severe backlash from mining companies, prospectors and community members. The shire had proposed to jack up its annual mining rates by 119 per cent to inject an extra $8.7 million into its finances. But it received 21 submissions objecting to the extraordinary increase from mining companies, junior explorers and community members during the ratepayer consultation period. Among the companies operating in the shire who objected was South African giant Gold Fields, which has the St Ives mine south of Kambalda, and Australia's second-largest ASX-listed gold miner Evolution Mining, which operates the newly expanded Mungari gold mine. Andrew Forrest-backed Wyloo, Chris Ellison-led Mineral Resources and Tim Goyder-chaired Minerals 260 also formally protested, along with smaller producers and explorers such as Auric Mining, FMR Investments and WIN Metals. The Eastern Goldfields Prospectors Association has come out hard against the move, too, calling for ministerial intervention to restore public confidence. The shire's proposed differential rates put out for public comment included an unimproved value mining proposed rate-in-the-dollar of 0.520300 and minimum payment of $514. However, Tuesday's meeting agenda revealed the shire was proposing a slight reduction to 0.468270 while retaining the minimum payment amount. The shire's UV mining rate in the 2024-25 financial year had a rate-in-the dollar of 0.236670, with a minimum payment of $476. Councillors will now consider the submissions and adjusted differential rates at Tuesday's council meeting. In a submission to the shire, Gold Fields St Ives general manager Vince De Carolis estimated the mining giant would shell out at least $3.9m under the proposed rates increase, compared to $1.6m in 2024-25. 'In the event of such considerable increases, there is a possibility that mining operations in the shire will become economically unviable for St Ives and other miners and explorers,' he said. Minerals 260 managing director Luke McFadyen said the rate hike would 'deter investment' and 'reduce exploration'. Wyloo Kambalda asset president Zoran Seat said the increase was a clear effort by the shire to dig itself out of a deep financial hole. 'We have serious concerns that the proposed rate hike is being implemented to raise funds to address the shortfall in finances the shire is facing, rather than as part of a fair or sustainable fiscal strategy or cost recovery for services provided to ratepayers,' he said. Prospector Ferdinand Gere labelled the 119 per cent increase as 'unrealistic and scandalous', while Widgiemooltha resident Jan McLeod noted the downturn in the region's nickel industry. 'Mining cannot sustain this increase. Only gold has increased its value,' Ms McLeod said in her submission. Association of Mining and Exploration Companies chief executive Warren Pearce called on the shire to 'reconsider' the move which 'undeniably places an undue financial burden on all operations' in the shire. Mr Pearce also raised concern about the 'one-size-fits-all approach' which placed both mining and mineral exploration in the same differential rating category. Tuesday meeting's agenda report said a rates hike would help the shire 'raise sufficient yield to try and maintain current services and future infrastructure renewal'. It said the revised estimated rate revenue yield for the shire was $20.57m, down from $21.4m, which would contribute to capital works, services and interest repayments. This was still $7.86m higher than the 2024-25 rates revenue yield of $12.71m. These included road renewal ($10.48m), landfill and waste facilities ($2.9m), interest repayments on loan and lease facilities ($1.58m), and finalisation of Bluebush Village stage two ($1.40m), among others. The shire said while it would receive $3.93m in funding towards the proposed road renewal program, there was a deficit of $6.45m. The report said a 30 per cent concession for prospectors and 25 per cent concession for mining explorers had been applied, which would reduce rate revenue by more than $480,000. It comes after a budget blowout of more than $6 million was revealed two months ago. A report at March's council meeting revealed the shire's 2024-25 budget closing deficit would not be $627,000 as initially forecast but almost $6.64m.
Yahoo
21-05-2025
- Business
- Yahoo
Minerals 260 sells Aston lithium-REE project tenements to Delta Lithium
Australian miner Minerals 260 has signed a binding agreement with Delta Lithium to sell its Aston lithium-rare earth elements (REE) project tenements in the Gascoyne region of Western Australia (WA). The transaction includes a A$450,000 cash payment upon completion of the sale. It also includes a 1.5% net smelter return (NSR) royalty on future sales of lithium and associated minerals from the site such as tantalum, caesium, beryllium and rubidium contained within the lithium-bearing ores. The NSR royalty offers Minerals 260 shareholders long-term exposure to potential future exploration benefits at the Aston project. The Aston project is situated adjacent to Delta's Yinnetharra lithium project. The sale and purchase agreement stipulates 100% disposal of the tenements, which includes a total of 17 tenements listed under various codes. The completion of the disposal is set to occur within five business days following the receipt of Ministerial consent under the Mining Act to transfer two of the tenements, or within 30 days after executing the agreement. Until the completion of the sale, Minerals 260 is responsible for maintaining the tenements in good standing. The sale of the Aston project aligns with the company's strategy to focus on the exploration and development of the Bullabulling gold project, located 25km south-west of Coolgardie in WA. The Bullabulling gold project has the potential for an open-pit mining operation. The project has a JORC 2012 mineral resource estimate of 60 million tonnes at 1.2 grams per tonne gold, equating to 2.3 million ounces of gold. The project spans a contiguous 570km² tenement package and offers significant exploration prospects. In April 2025, Minerals 260 raised capital before costs of $220m to develop the Bullabulling project. "Minerals 260 sells Aston lithium-REE project tenements to Delta Lithium" 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.
West Australian
14-05-2025
- Business
- West Australian
Tim Goyder's Minerals 260 tears into unlocking huge gold potential hidden under woodlands of Bullabulling
The woodlands hiding a big gold resource south-west of Coolgardie are silent no more, with drill rigs now ripping into the earth so Minerals 260 can churn out the data to transform the Bullabulling project into a cash cow. The Tim Goyder-chaired company snapped up the 127sqkm project in January from Norton Gold Fields in a deal worth $156.5 million in cash and $10m in scrip, and has wasted no time since — raising $220m and getting the one diamond and three reverse circulation rigs on site on April 15. Bullabulling was mined in the late 1990s and early 2000s — when the gold price was much lower than the current $5000/oz — but has been largely a scene of inactivity since 2014 when Chinese company Norton bought the project. Now Liontown spin-off Minerals 260 has started an 80,000m drilling campaign focused on multiple resource extension targets at depth and along strike, and also infill drilling of the existing resource to upgrade classifications. The company said the 2.3-million-ounce mineral resource estimate was based on extensive historical drilling of 12,000 holes for 530,000m. The overall grade is 1.2g per tonne, with 60 per cent — 39Mt at 1.1g/t for 1.4Moz — being in the indicated category, and 40 per cent — 21Mt at 1.3g/t for 890,000t — inferred. At an investors and analysts site visit on Monday, managing director Luke McFadyen said the company was now undertaking its own studies to expand the resource, and believed there was another '1.6Moz still in the ground'. Bullabulling has several deposits that are the focus of Mineral 260's exploration — Dicksons, Phoenix, Bacchus, Kraken and Gibraltar, with Bacchus and Kraken rated the highest priority for grade and mineralisation. The distance from Dicksons in the north to Kraken in the south is 8.5km. The Phoenix MRE is mostly indicated — 25Mt at 1.1g/t for 850,000t out of a total 27Mt at 1.1g/t for 930,000t. Bacchas has a total MRE of 22Mt at 1.3g/t for 890,000t, with 8.5Mt at 1.2g/t for 330,000t being indicated. Dicksons has 7.7Mt at 0.9g/t for 220,000t and Kraken 2.8Mt at 1.7g/t for 160,000t, all of which is inferred. The company said drilling at Phoenix and Dicksons would focus on depth extensions, and infill drilling would take place at Phoenix. It said the resource was open at depth in multiple locations, and Bacchus remains open along strike to the south. Minerals 260 said there was no MRE as yet for Gibraltar — which is to the east of Kraken — but drilling would soon take place to test depth and strike extensions. The company is aiming to update the project's total mineral resource estimate in the December quarter to a 'reasonable prospects for economic extraction' pit shells standard. It estimates its studies of Bullabulling will take 15 months, with eyes on production in about three years. The operation would be a conventional carbon-in-leach process. Mr McFadyen said Minerals 260 acquired Bullabulling because the company saw a significant opportunity not only in the existing resource but also in the immense exploration potential. 'Our exploration strategy is designed to systematically test the targets we've identified both down-dip and along strike from known mineralisation,' he said. 'Drilling commenced a few weeks ago and we are continuing to ramp-up activity. 'It's an exciting phase for the company as we begin generating a steady flow of drilling results and have concurrently commenced the pre-feasibility study.' And Minerals 260 has added another 450sqkm to the project since picking up Bullabulling, the latest being last week's Belararox option agreement for 26 tenements across 50sqkm. It said the two-year agreement gave it the option of exploring the wider area in a phased approach after the Bullabulling drilling program.
