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Wiluna increases mineral resource to 4.51 million ounces at 3.90g/t

Special Report: Wiluna Mining Corporation has spent the last 18 months drilling over 175,000m de-risking and advancing the new Wiluna … Read More



This article was originally published by Stockhead

Wiluna Mining Corporation has spent the last 18 months drilling over 175,000m de-risking and advancing the new Wiluna gold mine towards production in December this year – and the hard work is paying off.

The company just announced the mineral resource update to 36 million tonnes at 3.90g/t for 4.51 million ounces, and a 28% increase in the measured and indicated resource by 28% to 2.73 million ounces at 4.46g/t.

This includes the Wiluna deposits (Wiluna Mining Centre), as well as the Matilda, Lake Way and Galaxy deposits which contributed a combined 332,000 ounces at 1.93g/t to the  total MRE – along with stockpiles, and tailings available for retreatment contributing a combined 685,000 ounces at 0.58g/t.

Wiluna Mining Corporation (ASX:WMC) says the indicated resource increase affirms its strategy of drilling to upgrade resources and reserves through systematic infill drilling at high-grade (>5g/t) initial mining areas to support near-term production.


Stands up well to its peers

The company is confident that Wiluna compares favourably with other large-scale, high-grade gold mining and development projects in the premier gold mining district of Western Australia, including:

Mineral resource coloured by category, showing significant Indicated zones adjacent to the 2020 ore reserves; potential for additional Ore Reserves to be defined based on the updated MRE.


Production by December, gold concentrate by January

Stockpiles of around 100,000 tonnes of development ore are already on surface ready for processing through the new concentrator in December – with gold concentrate expected from January 2022.

A new ore reserve statement is underway as part of the Stage 2 feasibility study and is due for completion in March 2022, ahead of commercial production of 120,000 ounces per year from the new sulphide underground mine by June 2022.

WMC concentrator
Wiluna Mining concentrator 90% complete and to be commissioned in December 2021 with existing plant in the background.


Future growth potential

The company is planning further expansion to more than 250,000 ounces in FY 2024, and said that further drilling is expected to provide considerable opportunities for growth – with the growing high-grade gold endowment of 15,000 ounces per vertical metre over three main gold structures with a combined strike length of approximately 10km.

Further targets for indicated resource conversion and mine plan extensions include the South Mine area and the West Mine area.



Wiluna Mining Corp share price today:


This article was developed in collaboration with Wiluna Mining Corporation Ltd, 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 Wiluna increases mineral resource to 4.51 million ounces at 3.90g/t appeared first on Stockhead.

Author: Special Report


Trending Penny Stocks to Watch As the Market Regains Confidence

Check these three penny stocks out for your watchlist
The post Trending Penny Stocks to Watch As the Market Regains Confidence appeared first on Penny…

Are These Penny Stocks on Your Watchlist Right Now?

After a bullish and relatively stable day of trading penny stocks and blue chips, investors are eager about what the future could hold. Now, in the past few months, penny stocks and the entirety of the stock market have been highly volatile. While this is traditionally characteristic of penny stocks, it is not usually the extreme that we’ve witnessed recently. With the Omicron variant and high inflation rates, investors are showing high levels of uncertainty about the short-term future. 

[Read More] Hot Metaverse Penny Stocks To Add To Your List In December 2021

And while this may seem scary to some, to others, it presents a way to make money with penny stocks. Because most traders tend to swing trade small caps, large price movements present a way to benefit in small increments of time. If a stock shoots up or down a few hours or a few days, investors can take advantage. But, this involves having a well-thought-out and consistent trading strategy. 

When it comes to trading any type of stocks, knowing your tolerance for risk and threshold for volatility, will go on a long way. And this is especially true when it comes to small caps. Lastly, understanding what the market is doing and what events are on the horizon, will benefit you greatly. Considering all of this, let’s take a look at three penny stocks to watch as the market regains confidence. 

3 Top Penny Stocks to Watch in December 2021

  1. DatChat Inc. (NASDAQ: DATS
  2. New Gold Inc. (NYSE: NGD
  3. Ideanomics Inc. (NASDAQ: IDEX

DatChat Inc. (NASDAQ: DATS) 

One of the bigger gainers of the day is DATS stock, pushing up by almost 5% at EOD. While no news came out on December 6th showing why DATS stock would push up, we can look at some older announcements to try and deduce a reason. At the end of November, the company announced the launch of a new rewards program known as Nirad Points Rewards Program or NRD. This will offer the first 1 million users 10,000 NRD. 

“We see this as a unique opportunity to vastly accelerate the growth of the DatChat platform by attracting new users that understand and appreciate the importance of blockchain and privacy technology. The Nirad will underpin our blockchain network and power our platform through the engagement of our community.” 

Darin Myman, the CEO of DatChat

If you’re not familiar with DatChat, it is a tech company working in the fields of blockchain, cybersecurity, and social media. It offers tech that enables its users to message privately, send encrypted photos, and so on. Right now, there is a large amount of bullishness surrounding the tech industry. And because of this, DATS is seeing heightened attention. Whether this makes DATS stock worth adding to your list of penny stocks to watch or not is up to you. 

New Gold Inc. (NYSE: NGD)

New Gold Inc. is a mining penny stock that climbed by a solid 8%, which is quite substantial for a mining stock. While NGD’s main focus is on mining gold, it also searches for silver and gold at its deposits. Its primary properties are the New Afton and Rainy River Mines in Canada. In addition, the corporation owns and runs the Cerro San Pedro mine in Mexico. This penny stock frequently fluctuates in response to current gold prices. However, because New Gold also mines for silver and copper, the prices of those metals have an impact on the company as well.

[Read More] 5 Penny Stocks To Buy In December According To Insiders

On November 19th, the company provided an update on the impact of heavy rains in British Columbia at the New Afton Mine. These heavy rains have created flooding and mudslides in the region. As a result, transportation routes to the New Afton mine have been disrupted. This flooding has had no impact on the infrastructure or operations of the New Afton mine.

The company stated that the negative impact on the mine will depend on the duration of the transportation disruption. Despite this small upset, New Gold is performing well at the moment. On December 6th, New Gold Inc. is up over 8% in total. It’s hard to deduce exactly why this occurred, however, it could be the result of the bullishness on gold right now. Considering this, will you add NGD stock to your penny stocks watchlist in December?


Ideanomics Inc. (NASDAQ: IDEX)

Ideanomics Inc. is another decent gaining penny stock that increased by 3.68% on December 6th. If you’re not familiar, Ideanomics operates in two sectors: mobility and fintech. On one hand, the company promotes fleet operators to replace their current vehicles with electric vehicles. Ideanomics aids these firms at every stage of the process, including procurement, financing, charging, and energy management requirements for the adoption of these commercial electric vehicles. On the other hand, Ideanomics invests in budding fintech solutions, which has become a major focus in the past few months.

On November 23rd, the company released its third-quarter financial results for 2021. Ideanomics’ total revenue was $27 million during the quarter. Its revenue from its Mobility Unit was $11.5 million, up from $8.7 million the previous quarter. This is the third quarter in a row that the Mobility Unit has received growth. The company’s gross profit was $4.5 million compared to $0.7 million year over year.

“This quarter was highlighted by two very important strategic planned acquisitions of VIA Motors and Energica both scheduled to close in the first quarter. The integration of these two companies provides Ideanomics with full OEM capabilities across vehicle types, and positions Ideanomics as one of the only full-service, turnkey, offerings in the market today.”

Alf Poor, the CEO of Ideanomics

Noting this recent stock price increase and its financial results, will IDEX make your penny stock watchlist?


Which Penny Stocks Are on Your Buy List?

If you’re looking for the best penny stocks to buy, there are hundreds to choose from. But, because there is so much price movement in the stock market right now, knowing exactly where to look and which ones fit your investing style, will be a large asset to your trading.

[Read More]  3 Penny Stocks to Watch As Omicron Variant Fears Wane

Right now, investors need to consider factors such as the Omicron variant and inflation as a part of their trading strategies. With all of that understood, which penny stocks are on your buy list right now?

The post Trending Penny Stocks to Watch As the Market Regains Confidence appeared first on Penny Stocks to Buy, Picks, News and Information |

Author: J. Phillip

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Precious Metals

Satori Drills 5.8m of 47.56 g/t Gold at Tartan Lake, Manitoba – Shares Jump 16%

Satori Resources Inc. [BUD-TSXV; STRRF-OTC] reported additional results from the completed phase 1 drill program…

Satori Resources Inc. [BUD-TSXV; STRRF-OTC] reported additional results from the completed phase 1 drill program at the 100% owned Tartan Lake property, near Flin Flon, Manitoba.

TLMZ21-11 and TLMZ21-12 both targeted the down plunge continuation of the Main zone mineralization, approximately 100 metres to the west of TLMZ21-01 (4.15 metres averaging 9.73 g/t gold) and 75 and 150 metres below the historic holes defining the resource limits.

Both holes intersected two distinct zones of mineralization. A hanging wall (HW) zone, not observed in the earlier holes, completed 100 metres to the east, associated with quartz-feldspar intrusives, and was intersected 20 to 25 metres above the quartz-carbonate-tourmaline veins defining the Main zone.

TLMZ21-12 intersected 5.80 metres averaging 47.56 g/t gold in the HW zone followed by a Main zone intercept of 1.60 metres averaging 7.25 g/t gold (Summary of Results TLMZ21-11 and 12, TLSZ21-10). The company advises that results of the standard screen metallic assays for the HW zone are pending. The company believes that it is unlikely the screen metallic results will materially affect the reported results.

TLMZ21-11 intersected 5.25 metres averaging 2.25 g/t gold in the HW zone followed by 2.10 metres averaging 8.87 g/t gold in the Main zone.

Jennifer Boyle, CEO, stated: “These latest results clearly demonstrate that additional discovery potential exists at depth along the Main Zone plunge. Over 500 drill holes have been completed at Tartan Lake. To have one hole of a small drill program intercept the second highest grade ever reported at Tartan Lake is a very encouraging result. The hanging wall mineralization intersected in hole TLMZ21-12 may represent a new zone of gold mineralization that parallels the Main Zone. The signature quartz-carbonate veining is absent in the hanging wall zone. The high-grade mineralization is associated with felsic intrusives and increased sulphide content, which is further evidence suggesting that the hanging wall mineralization could reflect a new zone of mineralization. Additional drilling to evaluate the extent of the hanging wall mineralization at depth to the west is certainly a priority for 2022. We are currently finalizing a ground based induced polarity (IP) survey of the Main, South, McFadden and Ruby Lake targets. We believe that the IP survey will identify additional, undrilled targets within the host shear zones. Our plan is to complete the IP survey in Q1-2022 and start a follow up drill program late in Q1-2022.”

The Tartan Lake Project (2,670 Ha.) is located approximately 12 km northeast of Flin Flon and includes the Tartan Lake Mine (1986-1989) which produced 36,000 ounces of gold before the mine was shut down due to, in part, the price of gold falling below US$390/oz. Remaining infrastructure includes: an indicated resource estimate of 240,000 ounces averaging 6.32 g/t gold, an all-season access road, grid connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface.

Author: Staff Writer

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WoodMac reckons rumours of a resources supercycle could be more hype than truth

Word on the street is that a resources supercycle is underway. That’s when there’s a permanent step change in demand … Read More
The post WoodMac…

Word on the street is that a resources supercycle is underway.

That’s when there’s a permanent step change in demand that can’t be met by supply, leading to prices sitting above incentive levels for an extended period.

But Wood Mackenzie vice chair metals and mining Julian Kettle reckons that despite rampant end-sector demand, supply constraints and healthy prices, it’s not all roses – with demand likely to slow as the global economy returns to normal.

“Commodities risk becoming a victim of their own success as inflation rises,” he said.

“The unravelling of quantitative easing, combined with tax rises, could prompt a sharp slowing of global economic activity.”

Kettle says that over the next few years, it’s “inevitable that the global economy will slow from its frenetic pace in 2021.”

Have we borrowed demand from future years?

“Tax rises are inevitable, not only to pay down government debt but also to go some way to help fund ambitious ‘build back better’ infrastructure plans,” Kettle said.

“Restocking and the release of pent-up consumer demand has obviously helped economic recovery, but this is something of a one-trick pony that won’t be repeated this cycle.

“Whether we’ve also borrowed demand from future years in the mad scramble to buy products, only time will tell.”

He reckons that demand for many metals and mined commodities looks set to wane in the next few years despite the rampant growth in electric vehicles.

“It’s unlikely we’ll see a continuation of the pace set in 2021, when demand has been supercharged by economic stimuli, pent-up lockdown demand and restocking along the value chain,” he said.

The current projected rates compared with f the last resources supercycle in 2003-2007. Pic: Wood Mackenzie.


The energy transition could get the ball rolling

But the energy transition makes a supercycle almost inevitable.

“It seems there is little debate now around whether the energy transition, particularly an accelerated energy transition scenario, will lead to a supercycle for commodities,” Kettle said.

“I believe that if the world pursues a 2°C decarbonisation pathway (our Accelerated Energy Transition 2°C or ‘AET2’ scenario) a supercycle will exist across a broad spectrum of mined commodities.

“The exceptions will be coal, which will see a drastic drop in demand, and iron ore.

Nickel, cobalt and lithium will be first to kick off

Over the next five years, aluminium, copper, nickel, lithium and cobalt will all experience greater absolute growth than was seen during the last supercycle.

For lead, zinc and metallurgical coal, absolute growth will be similar.

“Demand for traditional base metals will also be growing more slowly, while the declines in percentage growth rates for bulk commodities will be stark even under our base case Energy Transition Outlook (ETO),” Kettle said.

“However, perhaps on the basis of percentage growth rates it can be argued that for nickel, cobalt and lithium at least, the supercycle has started?”

It’s worth noting that mined commodities are trending to surplus over the next few years, and as prices look set to decline, Kettle reckons we might only know if we’ve experienced a supercycle when we look back “through the lens of history.”

The post WoodMac reckons rumours of a resources supercycle could be more hype than truth appeared first on Stockhead.

Author: Emma Davies

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