Metalicity’s Kookynie project is looking increasingly appetising after drilling uncovered bonanza gold grades in a new zone 200m east of the main Leipold Lode.
Notable reverse circulation drilling results in the new zone are 1m grading 77.4 grams per tonne (g/t) gold from 74m within a broader 10m zone at 8.34g/t gold from 64m (LPRD0002) and 1m at 5.3g/t gold from 74m within a 3m intersection grading 3.05g/t gold from 73m (LPRD0005).
Importantly for Metalicity (ASX:MCT), the results indicate a possible new parallel lode to the main Leipold Lode and demonstrates that the area is very prospective for further high-grade mineralisation.
“These are spectacular results, and the identification of an outlying bonanza intercept further adds to the excitement of this prospect,” chief executive officer Justin Barton said.
“This adds up to a very exciting picture of significant potential to grow laterally, as well as along strike and down dip at Leipold, with significant mineralisation at depth encountered from the core of the diamond drilling for which we eagerly await assays.”
He added that the potential to deliver a step change in the initial resource estimate bodes well for the project and highlights the commercial sense behind its proposed acquisition of Nex Metals Exploration (ASX:NME).
Assays are pending for the company’s diamond drilling.
The results from the RC pre-collars of both LPRD0002 and LPRD0005 are considered to be exceptional with the 10m intersection in the LPRD0002 demonstrating a very consistent and wide mineralised intercept.
Results from the diamond drilling portion of both holes are expected to be intriguing to say the least, with the company already planning to test the dimensions of these intercepts and how they may potentially contribute towards the resource estimate on a possible separate lode.
Follow up drilling is planned for the new year within this area.
Density measurements from the core are being completed and will form the basis for the tonnage aspect of the resource estimate.
Metalicity expects these to be completed by early December with the metallurgical test work also expected to be finalised by mid-December 2021 as well.
This article was developed in collaboration with Metalicity, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
The post Metalicity hits bonanza 77.4g/t gold in new zone east of Leipold appeared first on Stockhead.
Fresnillo (OTCMKTS:FNLPF) Rating Lowered to Sector Perform at Royal Bank of Canada
Fresnillo (OTCMKTS:FNLPF) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in…
Fresnillo (OTCMKTS:FNLPF) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday, The Fly reports.
Several other equities research analysts have also issued reports on the company. Scotiabank reaffirmed a “sector perform” rating on shares of Fresnillo in a research report on Wednesday, October 13th. Jefferies Financial Group lowered Fresnillo from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research lowered Fresnillo from a “buy” rating to a “hold” rating in a research report on Wednesday, January 19th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Fresnillo in a research report on Wednesday, September 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Fresnillo in a research report on Thursday, October 28th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.00.
OTCMKTS FNLPF opened at $8.60 on Thursday. The business has a fifty day simple moving average of $11.53 and a 200 day simple moving average of $11.51. Fresnillo has a 12 month low of $8.36 and a 12 month high of $16.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.98 and a quick ratio of 4.11.
Fresnillo Company Profile
Fresnillo Plc is a holding company, which engages in the production of gold and silver. It operates through the following segments: Fresnillo, Saucito, Cienega, Herradura, Soledad-Dipolos, Noche Buena, and San Julia. The Fresnillo, and Saucito segments are located in the state of Zacatecas, an underground silver mine.
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UK SMEs join forces to drive energy storage innovation
Sodium-ion battery module meets artificial intelligence at testbed to drive technologies to market.
The post UK SMEs join forces to drive energy storage…
Sodium-ion battery module meets artificial intelligence at testbed to drive technologies to market
A trio of SMEs have joined forces to accelerate to market innovations in energy storage.
AMTE Power, Brill Power and Starke Energy are collaborating at a commercial-scale testbed at Harwell Campus in Oxfordshire, England.
They aim to prove three new technologies at a battery energy storage system to be integrated with a solar array operated by the Science and Engineering Facilities Council (STFC) at Harwell Science and Innovation Campus.
AMTE Power develops new battery cell technologies; Brill Power is a spin-out from the University of Oxford which develops intelligent battery management and control technology; and Starke Energy uses artificial intelligence to optimise batteries.
First time deployment
The testbed will demonstrate AMTE’s sodium-ion battery module using Brill Power’s technology and Starke’s energy management system, which links stored energy into the electricity grid and markets.
This is the first time that these technologies are being deployed in a commercially relevant project.
Emma Southwell-Sander from the STFC and manager of the EnergyTec Cluster at Harwell Campus said the project “is a prime example of how Harwell’s EnergyTec cluster is facilitating access to young innovative businesses to a wealth of resources to supercharge their route to market”.
The energy storage system at Harwell is expected to be operational from March and will is intended to run for a minimum of 12 months.
As a benchmark, in the project’s first phase, AMTE Power will deploy lithium-ion cells before switching to use the company’s sodium-ion cell technology in the second demonstration phase of the project.
AMTE’s director of business development John Fox said: “The ability to test our new products in a commercial operating environment is invaluable. Having access to the Harwell site will accelerate the time to market for our new energy storage products.”
Sodium-ion batteries offer an alternative to lithium-ion in those markets where cost is more important than weight or performance: particularly energy storage, network resilience and energy in remote locations. Improvements in competitiveness of energy storage technologies will accelerate the uptake of small-scale renewable sources of electricity generation.
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The commercialisation of sodium-ion technology lags behind Li-ion but offers significant advantages that makes it suited as a solution for static energy storage applications; it uses earth-abundant elements, has long cycle life and intrinsic safety advantages.
Brill Power’s battery intelligence technology will be deployed to ensure optimal battery usage, lifetime, performance, and safety. Real-world data and operating parameters will be collected, which will support further optimisation of the technologies deployed in the demonstrator.
Brill launched its first battery management system last year, which is supported by its proprietary battery monitoring and analytics software platform.
“Brill Power’s battery intelligence technology can improve all aspects of advanced battery systems, including performance, cost of ownership, reliability and safety,” said the company’s chief executive Christoph Birkl.
“This testbed will enable us to integrate our technology with other cutting-edge battery innovations and collect real-world data on a commercially relevant site”.
Starke Energy’s energy management system will integrate the battery system with the local energy network at Harwell.
Using artificial intelligence, it learns how much energy is being produced by renewable sources, and how much is being used to optimise the storage and release of energy across a network of connected intelligent batteries.
Exclusive industry insight: Not all storage solutions are created equal
The project is part of the Interreg North-West Europe STEPS programme that is supporting 40 businesses through, in its first phase, a competitive product enhancement voucher programme – valued at €12.5k each.
AMTE, Brill and Starke were all awarded first phase vouchers in March 2021 and each have benefited from support from Cambridge Cleantech, the UK’s longest-standing membership organisation for the cleantech sector, and the Faraday Institution, the UK’s independent institute for electrochemical energy storage R&D, market analysis and early-stage commercialisation.
This has included tailored testing, introductions to potential end-users and market knowledge to strengthen the competitiveness of their products.
Faraday Institution chief executive Professor Pam Thomas said the energy storage project was “another example of the Faraday Institution acting as convener for partnerships between UK industry, academia and funding organisations as a route to commercialise breakthrough science and engineering to maximise economic value”.
Sam Goodall, head of international projects at Cambridge Cleantech added that the three SMEs “have technologies that can revolutionise the energy storage sector, from AMTE’s Na-ion batteries which remove the need for mineral extraction, Brill Power who make batteries last longer and be more efficient, and Starke’s energy management system which helps optimise the use of the energy and how it is sold together based on AI and IoT”.
The post UK SMEs join forces to drive energy storage innovation appeared first on Power Engineering International.
Alamos Gold: Haywood Lowers Target To $12.75 Following 2022 Guidance
Last week, Alamos Gold Inc. (TSX: AGI) reported its fourth quarter and full-year production results, as well as their 2022
The post Alamos Gold: Haywood…
Last week, fourth quarter and full-year production results, as well as their 2022 to 2024 production estimates.( ) reported its
For the fourth quarter, Alamos Gold produced 112,500 ounces of gold, bringing the full year 2021 production to 457,200 ounces, which was the lower range of guidance. Costs have not yet been finalized but the company says that it is expected to be consistent with their guidance.
The company also provided 2022 guidance, which included expected gold production of 440,000 to 480,000 ounces. Cash costs are expected to be between $875 to $925 per ounce and all-in sustaining costs are to be between $1,190 to $1,240 per ounce. Total capital expenditures will be between $305 and $345 million, while exploration is expected to cost $27 million for 2022.
For the longer run, the company expects these numbers to grow to 460,000 to 500,000 ounces of gold in 2024, with cash costs of $650 to $750 per ounce and $950 to $1,050 of all-in sustaining costs per ounce.
Currently Alamos Gold currently has 13 analysts covering the stock with an average 12-month price target of C$12.46, or a 36% upside to the current stock price. Out of the 13 analysts, 1 has a strong buy rating, 6 have buy ratings, 5 have holds and 1 analyst has a sell rating. The street high sits at C$17.50 or a 91% upside to the current stock. While the lowest price target sits at C$9.98.
In Haywood Capital Markets’ note, they reiterate their buy rating but lower their 12-month price target from C$15 to C$12.75, saying, “lower production and higher costs for 2022,” and that inflation is finally starting to impact the production costs.
For the fourth quarter and full-year production numbers, they came in line with Haywood’s estimates although they note that the full-year production numbers came in the lower half of guidance.
For the companies three-year guidance, Haywood expected 2022 production to be 485,000 ounces, below their high-end figure. While cash costs were expected to be $785 per ounce, lower than their guided number. This is the same for all-in sustaining costs as Haywood expected it to be $1,055 per ounce. Haywood says that this cost increase in 2022, “is due to industry-wide cost inflation as well as temporary higher costs at Mulatos.”
Below you can see Haywood’s estimates versus the company’s guidance.
Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
The post Alamos Gold: Haywood Lowers Target To $12.75 Following 2022 Guidance appeared first on the deep dive.
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