Proactive - Interviews for investors

Jindalee Lithium Ltd (ASX:JLL, OTCQX:JNDAF) CEO Ian Rodger sits down with Jonathan Jackson in the Proactive studio to discuss a A$6.7 million capital raise through a combination of placement, entitlement issue and convertible notes, with an option to increase this by A$9 million.

The funds will support the completion of the McDermitt Lithium Project’s pre-feasibility study (PFS), focusing on optimising capital intensity, operating costs, and production outcomes. Additional activities in the US will include baseline studies, permitting, and stakeholder engagement.

In 2024, Jindalee plans to advance McDermitt by securing tribal agreements, US Government technical cooperation agreements and producing battery-grade lithium carbonate. Other milestones include updating on POSCO test work, completing the optimised PFS, potentially receiving US Government grant funding and starting a strategic partnership/investment process.

Firm commitments of A$4.1 million for the placement include A$600,000 from institutional investors, directors and management at A$0.30 per share. This also includes A$500,000 from Mercer Street Global Opportunity Fund II, LP. Eligible shareholders can participate in a non-renounceable entitlement issue to raise up to A$3.1 million on the same terms. Directors and management have pre-committed A$500,000 to this issue. Additional funding up to $12 million via convertible securities from Mercer Street is also available.

Rodger emphasised the importance of this funding for Jindalee’s future work programs, highlighting the value optimisation at McDermitt. Mercer Street’s managing partner, Jonathan Juchno, expressed confidence in Jindalee’s potential, noting a significant value disconnect between the company’s market valuation and the strategic potential of the McDermitt Project.

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Magmatic Resources Ltd (ASX:MAG) managing director Dr Adam McKinnnon joins Proactive’s Jonathan Jackson to provide an update on the company’s exploration activities in the East Lachlan region of New South Wales.

Following the Myall Project Farm-in and Joint Venture Agreement with Fortescue, Magmatic has intensified exploration at its Wellington North and Parkes projects. Planned activities for the second half of 2024 include mapping, soil and rock chip sampling, geophysical surveys, and both RC and diamond drilling.

At the Wellington North Project, 232 soil samples from the Boda Southwest prospect have shown promising copper-gold anomalies near Alkane Resources’ Boda 4 Prospect. The sampling included up to 0.92 g/t gold, with further sampling planned to confirm potential drill targets. An aircore drilling program at Lady Ilse was completed, comprising 64 holes totalling 598 metres, with assay results expected mid-July. Additionally, approvals for RC drilling at Rose Hill have been received, targeting mineralisation including 71 metres at 0.43% copper, 0.30 g/t gold and 57ppm molybdenum from previous drilling.

For the Myall Project, a core and drill chip resampling program involving up to 75 holes is underway to expand geochemical and hyperspectral data coverage. This will aid in the detailed design of an upcoming diamond drilling program, which will consist of six holes, each 400-500 metres deep, in the greater Corvette/Kingwood region. The drilling is expected to be completed by the end of the year.

At the Parkes Project, land access and exploration approvals are being completed for multiple gold and copper targets. Planned activities include soil geochemistry and IP geophysical surveys at Black Ridge, diamond drilling at Buryan and RC drilling at McGregors. On-ground activity is expected to commence this month, pending the necessary approvals.

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London's main index has opened higher this morning as election talks grows in both Europe and the US.

Tomorrow will see Brits head to polling stations to vote in what could be the Conservative's worst election since the turn of the century.

Keir Starmer's Labour is predicted to win 484 of the 650 seats up for grabs, outperforming the 418 taken by former party leader Tony Blair in his landslide win back in 1997 and also the most in its history.

Meanwhile, in the US, investors are starting to bet on the likelihood of a Trump presidency after Biden's self-proclaimed loss at the first set of debates last week.

Odds for Biden to take office for a second term have dropped by 32% since the live debate, while bets on Trump have been on the rise, says political betting site PredicIt.

In company news, Keywords Studios PLC has agreed to an all-cash bid from a consortium led by Scandinavian private equity group EQT.

The deal values the video game ancillaries specialist at £2.1 billion or £2.2 billion including debt.

The offer, worth 2,450p per share, was flagged last week and follows an original approach worth 2,250p in May.

#ProactiveInvestors #marketreport #ftse #ftse100 #footsie #election2024 #keywordsstudio #eqt

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Maximus Resources Ltd (ASX:MXR) managing director Tim Wither sits down with Proactive’s Jonathan Jackson to discuss positive preliminary metallurgical test results for its Hilditch Gold Project, 25 kilometres from Kambalda, Western Australia. The tests have confirmed that the 19,500-ounce Hilditch gold resource is free-milling and can be processed using conventional cyanide extraction methods. Gold recovery rates from the initial metallurgical test work ranged from 91.4% to 95.8% through accelerated cyanide leach analysis.

The testing involved ore-grade intervals from the Hilditch open-pit resource, covering oxide, transitional and fresh mineable ore grades, ensuring comprehensive spatial representation. The project, on granted mining tenements M15/1448, benefits from ready access to infrastructure and multiple toll-treating options within 60 kilometres.

Additionally, a Flora and Fauna Survey has been completed in preparation for a mining proposal application. Seven composite samples from reverse circulation drill intersections were used for metallurgical testing, reflecting a variety of gold grades and weathering stages.

Gold mineralisation at Hilditch is linked to structurally controlled contacts between mafic/ultramafic and volcaniclastic units, similar to the Wattle Dam Gold Project. The initial test work by Intertek Minerals in Perth analysed cyanide-extractable gold and estimated recovery rates for conventional CIL processing.

Maximus Resources plans to proceed with a drill program this month to upgrade the resource into the higher confidence indicated category. This will include further metallurgical testing for gravity recoveries, grind size and reagent consumption. Following the drill results, the company may start a development study and submit a Mining Proposal.

Wither highlighted the importance of early metallurgical performance testing and emphasised the near-term production potential of Hilditch, given its advantageous location and proximity to regional gold processing plants.

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GTI Energy Ltd (ASX:GTR, OTC:GTRIF) executive director Bruce Lane joins Proactive’s Jonathan Jackson to detail the objectives and potential of its 2024 Phase II drilling program at the Lo Herma ISR Uranium Project in Wyoming’s Powder River Basin. The program aims to expand the resource areas and upgrade the mineral resource classification where feasible. The current inferred mineral resource estimate stands at 5.71 million pounds of uranium (U3O8) at an average of 630ppm.

The drilling program, scheduled to start in late July or early August, follows a recent capital raise of $2.25 million from sophisticated and institutional shareholders, fully funding the drilling and a subsequent scoping study. The permit allows for up to 76 drill hole locations and the construction of up to five groundwater monitoring wells. Data collection will include hydrogeologic parameters of the mineralised aquifers and rock core samples for metallurgical testing.

GTI Energy plans to publish an updated mineral resource estimate and exploration target range after the drilling is completed. This updated MRE is expected to support the near-term development of a scoping study, demonstrating the project's economic potential.

Lane expressed satisfaction with the investor support, highlighting the readiness to start the drilling program and advance the revised mineral resource estimate.

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Sprintex Limited (ASX: SIX) managing director Jay Upton sits down with Jonathan Jackson in the Proactive studio to talk about the company’s largest Evaluation Agreement with MW Techniek BV (Mest Water). Under this agreement, Sprintex will develop custom compressors for Mest Water's ammonia-reducing technology, ZLD-UP, which aims to address Dutch ammonia emission regulations in agriculture.

Key highlights include:

· Development of compressors for Mest Water’s ZLD-UP, which treats manure, slurry, sludge and wastewater, providing clean water and fertiliser.

· An initial order of 20 compressors valued at €620,000 (A$1,000,000), with a 50% deposit already paid.

· A letter of intent to develop two additional compressor models, with a five-year supply agreement anticipated post-successful commissioning.

· Target sales price for the compressors is €19,000 (A$30,000) each, with every farm requiring at least one unit.

· Mest Water’s ZLD-UP technology, which holds a European patent, will be scaled to meet global ammonia emission challenges.

The initial provision includes 20 custom evaluation compressors, to be delivered within 12 weeks. Future development involves two additional models, and a long-term commitment includes a five-year production contract based on successful evaluation.

Mest Water's technology, which transforms waste into clean water and fertiliser, aligns with stringent EU ammonia emission regulations, presenting significant market opportunities.

#PrtoactiveInvestors #Sprintex #ASX #MWTechniek #MestWater #AmmoniaReduction #Agriculture #Sustainability #CleanTech #WasteToResource #EURegulations #EnvironmentalImpact #FarmingSolutions #ZLDUP #Compressors #Innovation #GreenTech #ManureProcessing #WaterReuse #EmissionControl #EnergyEfficiency #DutchAgriculture

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Sarytogan Graphite Ltd (ASX: SGA) managing director Sean Gregory sits down with Proactive’s Jonathan Jackson to discuss a new Exploration Licence Application (ELA) for copper porphyry mineralisation named Baynazar, just 20 kilometres west of the flagship Sarytogan Graphite Deposit in Central Kazakhstan. The 282 square kilometre Baynazar ELA is within the Central Asian Orogenic Belt (CAOB), known for hosting large copper-gold porphyry deposits. Historical Soviet work in the Baynazar area identified anomalies in copper, gold, silver, molybdenum, and tungsten.

Sarytogan's exploration team is actively soil sampling and a high-resolution aeromagnetic survey will soon start. Gregory stated that this initiative is part of a broader strategy to develop a portfolio of copper projects to support the company's focus on battery metals.

Kazakhstan is a significant copper producer with the CAOB region hosting notable deposits such as Bozshakol, Aktogay, Kounrad, Nurkazgan and Koksai. The Baynazar ELA is within a Devonian volcanic belt known for diverse mineralisation types. Historical exploration in the area reported more than 300 mineral occurrences, including gold and copper.

The ELA, encompassing the Baynazar Caldera's western contact zone and two southern satellite calderas, shows promising signs of copper-porphyry mineralisation. Sarytogan has formed a new entity, Baynamys LLP, to manage its copper exploration assets. The company has received notification of ELA approval, contingent on environmental insurance payment.

The company aims to build a portfolio of copper exploration properties in Kazakhstan, aligning with its battery metals strategy.

#ProactiveInvestors #SarytoganGraphite #ASX #CopperExploration #KazakhstanMining #BaynazarProject #BatteryMetals #MineralExploration #CentralAsianOrogenicBelt #GeologicalSurvey #CopperPorphyry #SoilSampling #AeroMagneticSurvey #KazakhstanResources #MiningProjects #GreenEnergyTransition #CopperDemand #MiningIndustry #ExplorationLicence #GeologicalTeam #KazakhstanCopper #MiningNews

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Aruma Resources Ltd (ASX:AAJ) managing director Glenn Grayson speaks with Proactive’s Jonathan Jackson about the optimism surrounding the company’s newly acquired Bortala Copper Project in Queensland’s Mt Isa copper belt. An initial review has identified several promising areas for copper-gold mineralisation with these targets found in favourable geological, structural and geophysical settings.

Historical exploration at R9 target produced results of up to 1.9 g/t gold in rock chips and various drilling outcomes, including 18 metres at 0.18% copper, 2 metres at 0.25 g/t gold, 4 metres at 0.36% lead and 5 metres at 0.44% zinc.

Grayson expressed confidence in the project's potential, particularly around the R9 anomaly. He highlighted the significance of coincident uranium and copper-gold mineralisation, indicating potential for IOCG (iron oxide copper-gold) deposits, which often include valuable minerals like uranium and rare earth elements. The Bortala Project is adjacent to 29Metals’ Capricorn Copper Mine, which held a mineral resource estimate of 60.8 million tonnes at 1.8% copper in 2022.

Aruma plans to conduct surface sampling and geophysics surveys to refine its upcoming drilling program, expected to commence this year, dependent on exploration results.

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American Eagle Gold CEO Anthony Moreau joined Steve Darling from Proactive to share exciting news about a potentially significant discovery of outcropping copper mineralization at the company's NAK project in west-central British Columbia. This discovery follows an Induced Polarization (IP) survey conducted in 2024, which highlighted a new area of interest known as the IP Embayment Zone. In response, American Eagle Gold deployed field teams to the IP Embayment Zone, where they identified three widely separated copper-bearing porphyry outcrops.

Moreau elaborated on the findings, noting that drill hole NAK24-19, targeting the western margin of the IP Embayment Zone, encountered chalcopyrite mineralization at depths exceeding 700 meters. This mineralization is consistent with the outcropping mineralization and that found in NAK’s North and South Zone target areas. The company believes that these discoveries, along with the results from drill hole NAK23-09, drilled 300 meters northeast of the mineralized outcrop, provide compelling reasons to continue exploration and drilling activities in the IP Embayment Zone.

These promising results underscore the potential for significant copper resources within the IP Embayment Zone, bolstering American Eagle Gold's commitment to furthering their exploration efforts. By continuing to drill and analyze this area, the company aims to better understand the extent and quality of the mineralization, which could lead to substantial advancements in their mining operations.

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Volta Metals CEO Kerem Usenmez joined Steve Darling from Proactive to announce significant expansions in the company's lithium project portfolio. Volta Metals has acquired additional mineral claims contiguous to its Falcon West Lithium Project in northwestern Ontario. These newly acquired claims cover a substantial surface area of 820 hectares, effectively merging with the company's Falcon West and Crescent Lake lithium projects. This consolidation results in an extensive and strategically important land package within the Seymour-Falcon Lithium Belt.

Usenmez highlighted that Volta Metals now holds a 100% interest in these newly acquired claims. In exchange, the company has granted the vendors a 1.5% net smelter returns royalty. Further strengthening its position in the region, Volta Metals has also acquired the "Lee Creek" Project. This project is located within the same section of the Caribou Lake greenstone belt as Green Technology Metals' Seymour project and Midex Resources Ltd's Crescent Lake project. Both of these projects are noted for their outcropping lithium-bearing pegmatites, indicating promising potential for significant lithium resources.

These acquisitions underscore Volta Metals' commitment to expanding its lithium assets and enhancing its exploration capabilities. By consolidating these properties, the company is well-positioned to capitalize on the growing demand for lithium, essential for battery technologies and the global shift towards renewable energy sources.

#proactiveinvestors #voltametalsletd #cse #vlta

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