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Resources Top 5: Lithium standouts, tin discoveries, and superstar mine builders join cashed-up goldie

Former Saracen boss Raleigh Finlayson will cornerstone a $20.8m funding package for Genesis, will join as MD mid 2022 blending … Read More
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  • Former Saracen boss Raleigh Finlayson will cornerstone a $20.8m funding package for Genesis, will join as MD mid 2022
  • blending brines from Pepininni’s ‘Rincon’ and ‘Incahuasi’ salares in Argentina creates very high lithium concentrations
  • Sky makes tin discovery in NSW

Here are the biggest small cap resources winners in early trade, Wednesday September 22.

 

GENESIS MINERALS (ASX:GMD)

Former Saracen/ Northern Star (ASX:NST) boss Raleigh Finlayson will cornerstone a $20.8m funding package, which will also include Northern Star itself and former FMG (ASX:FMG) chief exec Neville Power.

One of Argonaut’s potential junior takeover targets for 2021, WA-based Genesis unveiled a visible gold intercept of 5m at 60.7 grams per tonne (g/t) from 265m at its 1.6Moz Ulysses project in May.

The $20m will be used to grow the project through aggressive exploration, advance ongoing feasibility studies, and pursue other strategic opportunities as they emerge.

Finlayson is set to join the explorer as managing director mid next year, while Power and highly experienced corporate lawyer Michael Bowen will sit on the board as non-exec directors.

That’s some serious firepower.

“Raleigh is a highly successful gold miner with an exceptional track record of creating value for shareholders, growing Saracen from a junior explorer and developer into a $6 billion company at the time of its merger with Northern Star,” GMD chairman Tommy McKeith says.

“With Raleigh working alongside Neville, whose vast experience and achievements are widely acknowledged across the Australian business spectrum, and Michael, who is one of Perth’s most highly regarded corporate lawyers, Genesis will have an enviable team in the Boardroom.

“The combination of their experience and the funding package will position Genesis to maximise the opportunities at the Ulysses project as well as consider value-enhancing strategic acquisitions.”

The $380m market cap stock is up 137% year-to-date.

 

PEPINNINI MINERALS (ASX:PNN)

The company says blending brines from its ‘Rincon’ and ‘Incahuasi’ salares in Argentina creates a lithium concentration of 8,500 mg/kg — a level 14 times that of Incahuasi brine and seven times that of Rincon brine.

Nearby lithium producer Orecobre (ASX:ORE) concentrates to 7,000 mg/kg, Pepinnini says.

Is it magic? No, science. Probably.

“The blending of brine with a high concentration of sulphate from the Salar del Rincon with the brine of high concentration of calcium from the Salar de Incahuasi avoids the precipitation of lithium sulphate and reduces the calcium content,” PNN says.

“By using this difference between the brines, it is possible to obtain a higher concentration of lithium in the brine at a lower cost.”

The $20m market cap stock is up just 25% year-to-date.

 

LAKE RESOURCES (ASX:LKE)

While Lake Resources’ flagship Kachi project already ranks amongst the top 10 global lithium brine resources worldwide, it’s not-so-secret weapon is Lilac Solutions’ innovative direct-extraction technique, which produces cheap, high quality, environmentally friendly lithium.

The trifecta.

Under the new agreement, Lilac Solutions will contribute tech, engineering teams, and an on-site demonstration plant to earn a maximum 25% in the advanced project.

Lilac, after earning its interest in Kachi, will be expected to fund ~US$50 million, equivalent to its pro rata share of future development costs — aligning innovation, funding, development, and production.

This deal follows the recent successful sourcing of an Expression of Interest from the Export Credit Agency of the United Kingdom to provide project finance for the first stage of the Kachi Project.

This Expression of Interest will cover ~70% of the total finance required to expand production to 50,000 tpa of high purity lithium carbonate equivalent.

The $642m market cap stock is up 630% year-to-date.

 

WESTERN MINES (ASX:WMG)

(Up on no news)

This recently listed gold and base metals explorer completed an early-stage target-finding program at the ‘Melita’ gold-copper-lead-zinc project in the WA goldfields last week.

These targets will be prioritised for initial aircore (shallow) drilling, the company says.

This is a gold rich area, with prospectors regularly picking up nuggs like this off the surface:

Tasty.

A 5 hole maiden drilling program was also completed early September at the historical ‘Rock of Ages’ project near Laverton. Assay results are anticipated in 4 to 5 weeks.

 

SKY METALS (ASX:SKY)

The perfect time to make a tin discovery, with prices at record highs.

Drilling at the ‘3KEL’ target, part of the ‘Doradilla’ tin-polymetallic project in NSW, has discovered wide, high-grade, primary zone tin-copper over 1km.

Highlights include:

  • 32m @ 0.42% tin from 66m, including 9m @ 0.99% tin & 0.31% copper from 81m
  • 37m @ 0.31% tin from 91m, including 1m @ 4.23% tin & 0.20% copper from 121m, and:
  • 4m @ 1.10% tin & 0.21% copper from 135m

The high-grade stuff is open for +2km along strike, and at depth.

Diamond drilling will kick off soon to follow up these results.

“SKY considers these results very significant and indicate a very large primary tin-copper system over at least 2km of strike,” SKY exploration manager Oliver Davies says.

“With very limited drilling, and mineralisation open along strike and depth, the 3KEL system has potential to evolve into a very large tin-copper deposit.”

The $30m market cap stock is down 50% year-to-date.



The post Resources Top 5: Lithium standouts, tin discoveries, and superstar mine builders join cashed-up goldie appeared first on Stockhead.

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MiB: Soraya Darabi, TMV

     This week, we speak with Soraya Darabi, who is co-founder and general partner at TMV, an early-stage venture firm that has funded a broad range…

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This week, we speak with Soraya Darabi, who is co-founder and general partner at TMV, an early-stage venture firm that has funded a broad range of startups. Darabi is also the founder of Transact Global and host of the podcast “Business Schooled.” She previously served as manager of digital partnerships and social media at The New York Times.

She discusses how the firm invests in “Non-Obvious” founders. There are market inefficiencies in this overlooked segment of entrepreneurs, while in Silicon Valley, there is both efficiency and similarity that lowers the probability of successful innovation. She also explains some of the advantages that being a successful entrepreneur lends to her as a venture capitalist.

Investing in seed rounds in places from Baltimore to Austin, being persistent in areas overlooked by others gives her access to deals in start-ups that are both cheaper and at lower capital requirements than perhaps places like SIlicon Valley or NY require.

A list of her favorite books is here; A transcript of our conversation is available here Monday.

You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here.

Be sure to check out our Masters in Business next week with Sukhinder Singh Cassidy author of “Choose Possibility” hailed as one of the Top 100 People in the Valley by Business Insider and a Power Woman by Elle. She has 25 years of experience founding, scaling, and advising companies like StubHub! Google, Amazon, and Yodlee. Thoughts?

 

 

Soraya Darabi Favorite Books

Negotiation Genius: How to Overcome Obstacles and Achieve Brilliant Results at the Bargaining Table and Beyond by Deepak Malhotra and Max Bazerman

Give and Take: Why Helping Others Drives Our Success by Adam Grant

A Gentle Creature and Other Stories: White Nights; A Gentle Creature; The Dream of a Ridiculous Man by Fyodor Dostoevsky

Drown by Junot Diaz

Passing by Nella Larsen

The Diamond as Big as the Ritz (The Art of the Novella) by F. Scott Fitzgerald

The post MiB: Soraya Darabi, TMV appeared first on The Big Picture.

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Haywood Raises Nevada Copper Price Target After Debt Extension

On October 12th, Nevada Copper Corp. (TSX: NCU) announced that it has entered into an agreement with senior project lenders
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On October 12th, Nevada Copper Corp. (TSX: NCU) announced that it has entered into an agreement with senior project lenders and a non-binding term sheet to raise capital as well as a deferral and extension of its debt facilities. The company entered into a non-binding term sheet with their largest shareholder to consolidate outstanding shareholder loan promissory notes and increased the credit facility by US$41 million.

Nevada Copper currently only has 3 analysts covering the stock with an average 12-month price target of C$1.75, or a 51% upside. Out of the 3 analysts, 1 has a buy rating and the other 2 have hold ratings. The street high sits at C$2.50 from Paradigm Capital while the lowest comes in at C$1.25.

Haywood Capital Markets raised their 12-month price target to C$1.25 from C$1 and reiterated their hold rating after the news, saying “the debt extensions and added liquidity should provide NCU with sufficient flexibility to achieve its production goals.” This comes less than a week after the firm dropped its price target on the company from $2.00 to $1.00 following production results.

Haywood says that between the agreement with KfW IPEX bank and additional financing, a deferral, and extension of its debt facilities will be able to help the company ramp up its underground mine at Pumpkin Hollow and will let them advance their plans for open pit development.

Additionally, Haywood spoke with the newly appointed CEO recently and had some commentary on the event. As per Haywood, the priorities go as follows: improving the availability of mine equipment, completing the commissioning of the paste plant, and getting utilities to face in order advance mining and open up more mining fronts.


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 Haywood Raises Nevada Copper Price Target After Debt Extension appeared first on the deep dive.

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Marvel positioning itself as a major landowner in Exploits Subzone of Central Newfoundland

2021.10.16
Marvel Discovery Corp. (TSXV:MARV, Frankfurt:O4T1, MARVF:OTCQB) is a company on the move, with active projects in the Exploits Subzone of Central…

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2021.10.16

Marvel Discovery Corp. (TSXV:MARV, Frankfurt:O4T1, MARVF:OTCQB) is a company on the move, with active projects in the Exploits Subzone of Central Newfoundland and the Atikokan gold camp in northwestern Ontario where the junior has been reporting visible gold at its Blackfly project.

Marvel’s business strategy is fairly straightforward: identify virgin ground that has been “passed over” by larger companies, acquire the claims and begin exploring, first running geophysics to identify targets, then drilling them.

An example of this tactic is what Marvel has been doing in Central Newfoundland.

Exploits Subzone

The Vancouver-based company has assembled a sizeable land position, over 100,000 hectares, right in the thick of the Exploits Subzone of Central Newfoundland — potentially one of the world’s last easily accessible, district-scale gold camps. 

It is known to contain deep-seated gold-bearing structures of the Dog Bay-Appleton Fault — GRUB Line deformation corridor, and is home to the high-grade Keats Zone of New Found Gold (TSX:NFG).

See below for Marvel’s map of the area including the major faults shown as heavy black lines.

The Exploits Subzone of Central Newfoundland

This past summer, Marvel was busy snapping up claims and adding to its land package.

The Victoria Lake project is among the most prospective of Marvel Discovery Corp.’s seven Newfoundland properties.

Located within the Exploits Subzone, the property is bolted onto Marathon Gold’s 4-million-ounce Valentine gold project, which is Atlantic Canada’s largest undeveloped gold resource.

Victoria Lake and Valentine exhibit a similar style of gold-bearing veins and have structural and geological settings in common. Preliminary work on Victoria Lake identified several quartz-arsenopyrite veins returning grab samples ranging from 15.5 to 24.9 g/t gold and 18.6 to 139.3 g/t silver.

In 1995, grab samples from Vein #3 featured 162.7 g/t gold and 220 g/t silver.

Marvel’s Victoria Lake project is bolted onto Marathon Gold’s 4Moz Valentine gold deposit.

In mid-September Marvel acquired an additional 53 mining claims at Victoria Lake comprising 1,325 ha, increasing its land position to 7,650 ha. The company says the acquisition is located along the Exploits Subzone and covers a large, highly prospective structural zone proximal to the Valentine Lake Shear Zone hosting Marathon Gold’s (TSXV:MOZ) Valentine Gold Project with  resources of 4M oz. of gold…

Victoria Lake Gold Project is host to interpreted extensions of the Valentine Lake Shear Zone and two major thrust faults, a wide structural corridor interpreted to play an integral part in the Marathon Gold Deposit.

In fact the claims, acquired via an option agreement with a vendor, contain the highest regional gold-in-till sample — 785 parts per billion (ppb) Au. This high-grade surface gold area was never followed up with additional exploration, making it a juicy target for Marvel Discovery Corp.

“These claim additions were a strategic move, not only in expanding the size and potential, but tying up ground with the highest gold till-in-soil samples in the province of Newfoundland,” Marvel CEO Karim Rayani commented in the Sept. 14 news release. “This shows we are in the right place for a potential discovery adjacent to what will likely become Newfoundland’s next and largest gold mine.”

An important part of Marvel’s Newfoundland narrative is the ground it has acquired near Falcon Gold (TSXV:FG), a sister company to Marvel Discovery also headed by Rayani.

Combined, the two juniors are the largest landowner next to Marathon Gold’s monster 4Moz Valentine gold project, and they each have claims on the Hope Brook gold project.

At Hope Brook, Marvel’s land position straddles both the eastern and western extents of recent land acquisitions by the Sokoman/Benton JV partnership, with Marvel now controlling areas of considerable structural complexity marked by large-scale fold and fault structures, which provide important structural controls (traps) for gold mineralization.

Rock lithologies and structures on the property are also related to those associated with Marathon Gold’s Valentine gold deposit, Sokoman’s Moosehead gold project and New Found Gold’s Queensway gold project — the first mover in the highly prospective Central Newfoundland Gold Area Play.

Marvel’s Hope Brook gold property is contiguous to First Mining and the Sokoman-Benton joint venture.

The Hope Brook mine was in production from 1987 to 1997, producing 752,163 oz. Coastal Gold outlined 6.3Mt at an average grade of 4.68 g/t Au, for 954,000 oz in the indicated and inferred categories.

In a phone call with me on Thanksgiving Monday, Rayani positioned the expanded Hope Brook project (19,075 ha now owned by Marvel) in relation to its neighbors:

“To the north you have Matador which I believe is 800,000 oz, to the south you have another deposit by First Mining optioned to Big Ridge which is another million oz of identified [gold], and we have all of the ground right in the middle so we’re tied onto major structures, we’ve got ground at Valentine Lake, we’ve got ground on three of the largest systems out there.”

He emphasized, “Our objective is to cover off whatever is not covered by government mag [magnetic survey] and fly the rest of it ourselves, then package it up and see what we’re going to do. I would like to try and do as much of the work ourselves and then make a decision as to what we’re going to drill.”

Initial permits have been filed for a first phase of exploration at Hope Brook which includes high-resolution magnetic gradiometry surveys that help to sort structural complexities in geological terranes. The company will also be sending prospecting crews to begin baseline prospecting to determine if the magnetic trends highlighted in regional government surveys are due to similar mineralized structures as those hosting the nearby Sokoman/Benton lithium discovery — the first documented occurrence of lithium in the province of Newfoundland-Labrador.  

“Marvel and our sister company Falcon Gold have made a lot of noise as of late not only in acquiring sizable land positions tied on to major structures but also following the structures to find what we believe are hidden gems that have been overlooked and passed by. Sokoman-Benton’s new Lithium discovery is less than 10 km away and is a testament to our business model,” Rayani stated in the Sept. 20 news release.

Blackfly

The Atitokan gold camp in Ontario is one of the country’s most prolific, and the Blackfly project is one of the camp’s earliest gold occurrences, dating as far back as 1897.

The property is in a highly enriched gold neighborhood, located within the Marmion Lake fault zone about 14 kilometers from Agnico Eagle’s Hammond Reef gold deposit, which hosts an estimated 3.32 million ounces of gold in reserves.

Marvel’s Blackfly project is 14 km from Agnico Eagle’s Hammond Reef gold deposit, with 3.32Moz in gold reserves.

Marvel’s mission is to see whether the historical exploration around the Blackfly mine has more to offer. So far the results look promising.  

Drilling commenced on June 24, with nine diamond drill holes out of 16 completed to date for 1,116m. Drilling has concentrated around the historical shaft area with four holes drilled at the Blackfly Northeast Zone.

Visible gold has been discovered in a number of surface samples and in multiple drill holes, a very good sign that MARV may have hit upon a gold system of yet to be determined size. Four sub-parallel gold mineralization trends have been confirmed by drilling.

Specks of visible gold in hole BF21-19 drilled at the Blackfly Northeast Zone.

“We’re just waiting on the final numbers.” Rayani told me, adding that there is a new zone he expects will report better results than former operator Terra-X.

According to Terra-X’s assessment report, the lineament containing the Blackfly vein has alteration and mineralization traceable over a 4.4-km strike length, as shown by the distribution of samples collected along it.

The best gold values from this lineament occur within the historical work, where Terra-X’s grab samples included results of 167 g/t and 85.6 g/t Au.

Conclusion

Marvel represents an intriguing opportunity for investors looking for an undervalued junior in one of the most exciting gold plays on the planet, the Exploits Subzone of Central Newfoundland.

Larger players like New Found Gold and Marathon Gold have seen success at the drill bit and their market capitalizations have grown accordingly. NFG currently trades at $8.82 per share with a market cap of $1.3 billion while MOZ has a market value of $734 million @ a share price of $3.02. Most of the money here, imo, has already been made. Penny stocks like Marvel offer much better opportunity for share price appreciation.

Central Newfoundland is shaping up to be a classic area play, with over a dozen companies having established a presence there, either buying up claims around the big gold deposits, like Queensway and Valentine, conducting exploration programs or in the case of Marvel Discovery Corp., both. Marvel has applied for exploration permits at Hope Brook and has significantly expanded its land position at Victoria Lake.

I wouldn’t be surprised to see further consolidation in the Central Newfoundland Gold Area Play. If a company like NFG, backed by big money, with Eric Sprott and merchant bank Palisades Goldcorp owning a combined 51% of the shares, were to start making acquisitions, the boost to smaller juniors like Marvel could be dramatic.

Over at Blackfly, Marvel’s mission is to see whether the historical exploration around the Blackfly mine has more to offer. So far the results look promising.  

Nine diamond drill holes have been completed to date for 1,116m. Drilling has concentrated around the historical shaft area with four holes drilled at the Blackfly Northeast Zone.

Visible gold has been discovered in a number of surface samples and in multiple drill holes, a very good sign that MARV may have hit upon a gold system of yet to be determined size. 

Marvel Discovery Corp. has everything we like to see in a gold junior, starting with a great property in an established gold jurisdiction. However, the company understands it’s never a good idea to put all your eggs in one basket. Management has acquired claims close to the big players in the Exploits Subzone of Central Newfoundland. The company already has one of the best prospecting teams in the province, and from what I’ve seen so far, great management that understands the lifeblood of a junior is a steady flow of news. Rayani hinted there will be more announcements from MARV before the year is out. Stay tuned.

Marvel Discovery Corp.
TSXV:MARV, Frankfurt:O4T1, OTCQB:MARVF
Cdn$0.10, 2021.10.15
Shares Outstanding 73.8m
Market cap Cdn$7.9m
MARV website 

Richard (Rick) Mills
aheadoftheherd.com
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